August 8, 2011
The collapse of the global stock markets was something that was supposed to happen if the debt ceiling wasn’t raised. But here we are, seeing a sudden correction even after the debt ceiling was raised. The Federal Reserve and U.S. Treasury are actively trying to crush the U.S. dollar so the debts of their banking allies will get cheaper as the years go by and the quality of life for most Americans continues to erode like a tide washing away a sand castle.
Of course it will be expected that at some point some other archaic form of quantitative easing part three will be brought to the table but the Federal Reserve is a faith based system. Suddenly people are having less and less faith from a central bank that has sat idly by for the working and middle class while allowing the wealthiest in this country to become even wealthier simply by gaming the current financial system.
The markets are not pleased with raising the debt ceiling without actually looking for new revenue streams. This is like getting a credit card line increase without your income rising. The Fed is targeting the dollar not because it is good for America, but for the specific reason that it will allow banking allies to hide the ill bets of the 2000s.
National debt jumps $238 billion in one day
Source: U.S. Treasury
The national debt went up an incredible $238 billion in one day after the debt ceiling was raised. You don’t need to live a life like a Hollywood superstar to spend on a gigantic scale. Most Americans are wondering why so much money is being spent with such little results in the real economy. The underlying reality is the Federal Reserve is focused on fixing the balance sheet of member banks and if this helps Americans as a secondary result, so be it. Yet the opposite is occurring. Those connected to the financial sector are becoming wealthier while the other 90 percent of Americans witness their quality of life collapsing.
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