I made the claim that the FR and the banking elite owns us and is running the country.We are aware that the president held a meeting with the big banks encouraging them to lend more to the private sector to boost the economy.Even though I sympathize with the President that since we bailed them out for the the supposed purpose of freeing up the credit market that is not going to happen.And here is why:
Banks are also collecting interest--currently 0.25% a year--on the $1 trillion or so of "excess reserves" (see below) that they aren't lending to anyone.
And this:
The combination of the Fed's desire to stimulate lending via cheap money and the government's desire to stimulate the economy by running a huge deficit has made it a great time to be a bank: Banks can borrow from the government at artificially cheap rates and then lend the money back to the Federal government at higher rates, pocketing the difference. Or they can just keep the excess reserves at the Fed and get paid to do that.
The Fed's "Exit Plan" Is Just Another Secret Gift To Wall Street
Do you see where I am coming from?Why would the banks want to take a risk when they are being payed interest on their reserves and Uncle Ben is going to raise that rate?And they can take free money and buy Tbonds charging the gvt interest.Duh,they are not stupid.
So the million dollar question is what can the President do?Or what can our congress do?It proves my point of who is running the country and it surely is not the leaders of either of the pathetic parties.
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