Fed Archives - David Westerfield

Kleptocracy: http://en.wikipedia.org/wiki/Kleptocracy

From Wikipedia: “Kleptocracy is a term applied to a government subject to control fraud that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats), via the embezzlement of state funds at the expense of the wider population, sometimes without even the pretense of honest service. The term means “rule by thieves”. Not an official form of government such as a democracy, republic, monarchy, or theocracy; a kleptocracy is rather a pejorative for a government perceived to have a particularly severe and systemic problem with the selfish misappropriation of public funds by those in power.”

Max Keiser describes it quite well in his usual over-the-top rhetoric in this edition of the Keiser Report. Hilarious … and not, all at the same time.

The Breakdown Draws Near – Chris Martenson

Excerpt from this article found on Mish’s blog:

The policy of the Fed and Treasury amounts to little more than obligating the public to defend the bondholders of mismanaged financial companies, and to absorb losses that should have been borne by irresponsible lenders. From my perspective, this is nothing short of an unconstitutional abuse of power, as the actions of the Fed (not to mention some of Geithner’s actions at the Treasury) ultimately have the effect of diverting public funds to reimburse private losses, even though spending is the specifically enumerated power of the Congress alone.

Needless to say, I emphatically support recent Congressional proposals to vastly rein in the power (both statutory and newly usurped) of the Federal Reserve.

Gospel. Culture. Technology. Music.

Tag: Fed

Finally Found a Term to Describe What America is Unfortunately Becoming

Hussman: Fed Engaging in Unconstitutional Abuse of Power