‘No Right to Know’: A Wall Street Financial Site’s Attack on Congress and Ron Paul
November 24, 2009
Gary North
11/23/2009
Wall Street is an economic extension of the big banks, which are the government-protected segment of a government-created cartel: the national bank system. The government controls entry into this cartel, thus offering above-market rates of return to those who are approved.
The primary enforcer of this cartel is the Federal Reserve System. The FED provides the fiat money that in turn provides banks with reserves to lend. It also serves as the lender of last resort — officially, to the government; operationally, to the banks. This keeps the largest banks from having to face free market competition.
We can use this syllogism: As goes the Federal Reserve System so go the big banks. As go the big banks, so goes Wall Street.
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Harold
