The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency
Gary NorthDemocratic capitalism: A cooperative enterprise to earn enough money to buy enough Congressional influence to gain control over the government's guns so as to get even more money for your special-interest group.Social democratic capitalism: A cooperative enterprise to promise sufficient government benefits to enough voters to gain control over the government's guns so as to keep any other special-interest group from getting as much power as yours.
Gary NorthGod is in charge, waiting for His people to challenge the rulers of the earth and take the steering wheel from them, ... the battle for the earth is currently going on.
Gary NorthMicroeconomics: The study of who has the money and how I can get my hands on it.Macroeconomics: The study of which government agency has the gun, and how we can get our hands on it.
Gary NorthThe primary social goal of both systems of political economy is for middle-aged men to attract good-looking younger women. Democratic capitalists believe that good-looking younger women are attracted mainly by money. Social democratic capitalists believe that they are attracted mainly by power.
Gary North