Wall Street: From Economic Enabler to Economic Master.
Today I first look briefly at some important headlines concerning Italy and the precious metals market that came out late in the day yesterday or on Friday, October 19th, 2018.
This report will focus on how the financial sector has grown from a position of financial and economic intermediation back in 1960 to a present role of financial and economic master. To demonstrate this I go through the data provided by the Federal Reserve Bank of St. Louis.
My most shocking find is that financial business made up just under 7% of GDP in 1960 and that even though this proportion has dropped since a top of 120% in 2008 it is still just under 80% today!
My conclusion is that with the lifting of the gold anchor in 1971 by President Nixon and the repeal of the Glass Steagall Act by the Clinton administration in the 1990s the Federal Reserve and Wall Street have guided the wealth and credit of America and the world to Wall Street and the banks and basically taken over the economy.
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Do you think that the banks and the elite taking over the economy’s of the world is a long term plan of them to achieve the one world order? cheers mike
I think so but I just wanted to focus on the empirical evidence as a lot of times it puts people off when you just talk about NWO and the bankers without showing the proof.
I know what your saying if you just mention the NWO most people think of you as a Conspiracy theorist, cheers mike
Japanese bubble and bust was one of the biggest economic experiment. Now U.S. is following the path which Japan has passed through in '90. That means U.S.have to suffer a massive damage down the road. And much bigger one.
Yes, Japan was the Guinea Pig.
The fed has been out of control for a long time but what is scary to me is how little people question their antics, in particular with reference to the bailing out of the banks.
I thought showing people the empirical evidence could help give people some hard proof.