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Bring Back Capital!

January 29, 2009
Jeff Snyder
1/23/2009

A great deal of putative middle-class wealth has evaporated in the current financial crisis. Unless you cashed out and put the money in precious metals or in the mattress before the current financial crisis began, it is gone forever. As for what remains, we are in the process of being further subordinated to huge commercial interests, and are already locked in to a severely declining standard of living. It is increasingly unlikely that we are going to have a comfortable retirement with relative economic peace of mind. It is increasingly likely that many of us will be wards of the state, dependent upon social security and Medicare. Such as they will be, in a decade or so.

In this article I want to explain, with reference to a few simple economic factors, how this happened and why our remaining wealth is neither going to be restored nor grow – unless and until certain fundamental changes are made. Specifically, we need to eliminate the Federal Reserve System. This is one of those topics that gets you quickly dismissed in American politics as a complete nutburger, but it is my hope that I can explain this with reference to such familiar experience that it will become apparent why the Federal Reserve System is a key factor in our current predicament.

For the rest of the story …..

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