Wednesday, November 13, 2013

Quantitative Easing he greatest Bank Robbery by Wall Street of all time

Andrew Huszar that helped manage the Federal Reserve’s quantitative easing program during 2009 and 2010 is publicly apologizing for what he has done.  He says that quantitative easing has accomplished next to nothing for the average person on the street.  Instead, he says that it has been “the greatest backdoor Wall Street bailout of all time.”  And of course the cold, hard economic numbers support what Huszar is saying.  The percentage of working age Americans with a job has not improved at all during the quantitative easing era, and median household income has actually steadily declined during that time frame.  Meanwhile, U.S. stock prices have doubled overall, and the stock prices of the big Wall Street banks have tripled.  So who benefits from quantitative easing?

After the first round of quantitative easing ended, Huszar says that it was incredibly obvious that Quantitative Easing had done very little to benefit average Americans but that it had been “an absolute financial windfall for Wall Street”…

The Federal Reserve was created by the Wall Street bankers for the benefit of Wall Street bankers.  When the Federal Reserve serves the interests of Wall Street period, end of story. If by some miracle, one or two, middle class people benefit by getting jobs as janitors or parking lot attendants, then Wall street feels it's done its job to help middle America.  

Quantitative easing has been one giant Free ride for Wall Street banks…

Having racked up hundreds of billions of dollars in opaque Fed subsidies, U.S. banks have seen their collective stock price triple since March 2009. The largest Banking cartels: 0.2% of 1 percent now control more than 70% of the U.S. bank assets.

And that number is climbing as Americans are losing their jobs at a record rate. Food stamps are at levels not seen EVER!  Americans are losing their jobs their home, their insurance WHILE the corporate oligarchs are having troubles, such as finding an island to purchase, so that they can park their new mega-yachts. 

All of that on the backs of the middle class.  The future debt for every American is growing at an unsustainable rate.  It is currently $125,000.00 and climbing fast.   All, so that Wall Street can continue to rob American taxpayers and keep it all for themselves.

Billionaire hedge fund manager Stanley Druckenmiller was recently quoted as saying about quantitative easing…

“This is fantastic for every rich person,” he said Thursday, a day after the Fed’s stunning decision to delay tightening its monetary policy. “This is the biggest redistribution of wealth from the middle class and the poor to the rich ever.“
“Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff? You think I hate this stuff? I had a very good day yesterday.”
Druckenmiller, whose net worth is estimated at more than $2 billion, can't contain his joy at this insane windfall from US taxpayers!

The American people are still being told that quantitative easing is “economic stimulus” which will make the lives of average Americans better.

That is a flat out lie told by the  thieves at the Federal Reserve.

The Bank of England has shown conclusively that quantitative easing actually increases the gap between the wealthy and the poor…

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