The citizens of the United States are generally economic ignoramuses, which is why the federal government can continue to manipulate the economy with nary a whisper of suspicion or objection from the public.
For example, though many people now have their retirement accounts invested into 401K programs that contain both stocks and bonds, the vast majority of owners of these financial instruments cannot tell you the difference between the two. That is, perhaps why the Obama administration can double the federal debt to 20 trillion dollars, and the public ignores the fact that this will bankrupt their children and grandchildren. But since they don’t see the effect, at least in a transparent way, the debt keeps rising, and the government keeps spending as if there is nothing to worry about.
One of the cons the federal government has played on citizens is the Federal Reserve Bank, which is, of course not a federal agency, but a private group of money manipulators, and it is not a bank. What it is a an organization that helps the government hide the damage they are doing to the economy and the American public, and that manipulates the economy to the benefit of the government and the large corporations.
Fed Scams Public to Create Rally and Benefit the Rich
The video interview below with Dallas Federal Reserve head Richard Fisher indicates that the Fed manipulated the market in 2009 to help rally the market. The economic bubble was seen as a worldwide danger to all economies, and the Fed front-loaded benefits that were not sustainable, and that are now threatening to throw the world into a new economic panic. But after 8 years of virtually zero interested rates, the Fed has few options to correct the trajectory. The Fed is an old-boys club for the wealthy and the average citizen is the one that will suffer. And that day is not far in the future. Will the Fed accept responsibility for the disaster they are brewing? It really doesn’t matter, because the damage is done and the consequences will surely follow.