"I am a student of history. Professionally. I have written 15 books in six languages, and have studied it all my life. I think there is something monumentally large afoot, and I do not believe it is just a banking crisis, or a mortgage crisis, or a credit crisis. Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus. Something of historic proportions is happening. I can sense it because I know how it feels, smells, what it looks like, and how people react to it. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten - fifteen years. The pace has dramatically quickened in the past two. We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why?
We learn just days ago that the Federal Reserve, which has little or no real oversight by anyone, has â€œloanedâ€ two trillion dollars (that is $2,000,000,000,000) over the past few months, but will not tell us to whom or why or disclose the terms. That is our money. Yours and mine. And that is three times the 700B we all argued about so strenuously just this past September. Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? I thought this was a government of â€œwe the people,â€ who loaned our powers to our elected leaders. Apparently not.
We have spent two or more decades intentionally de-industrializing our economy. Why?