We The People of the United States of America have been duped. Right from the beginning, the founders of this country planned it out so that the large money interests would manage the country and the middle class would labor. The poor stayed poor for the most part with a few exceptions and the rich got richer, leaving the so-called Middle Class to do all of the labor. The plan went well at first until the middle class became so big they threatened the ruling class' position. Something had to be done about it but what to do was a big question. The rich did not want to irritate their working class or they would never grow the country. To grow the new country in the world market it was going to take innovation, finance and labor. The innovation came out of the elite and working class.
The banking came out of the elite class and the labor came out of the working class. Not real different from the system Britain had in place, except the elite of this country promised the working "middle" class that they would be totally free to choose what they wanted to do for labor and how to spend their wages. They promised that those in leadership positions would be approved by the general citizenry by way of elections. That way you would feel as though your desires would be considered along the way as the country grew. The poor were promised help in making life better for themselves. The white male was dominant with white females coming second. In third place is the female of color and dead last was the male of color. No one was promised anything without earning it.
Where they duped us was in the way everything is rigged to benefit the rich and hardly anything comes down to the working class. The poor are worse off than before because begging was not illegal as it has become today.
Why did it turn out like today?
The rich are most to blame for their greed but the working middle class has to accept some of the blame as well. We wanted more of what the rich were enjoying so we sold our souls to the bankers. They offered us cards to carry around to obtain a loan for what the merchandise cost. Then they went to the merchants and offered them a way to broker these loans for a percent of the sale. Everyone got what they wanted. More money loaned by the bank brings them in a stream of interest money. The more money streams a bank has, the more confident a bigger bank would be to go into partnership with them. Now the bigger money is backing all of the economy.
The only thing that holds all of this together is keeping the majority of middle class workers beholden to the big banks enough that they will happily do the job provided them. Their debt to the banks is so high that they have to work all of the time to pay these loans. (credit cards, mortgage, car loans). No time in their lives to cause trouble. The elite are counting on those dynamics.
Each time the middle class holds a certain percentage of the money in the country, the banking class has to cause a fault to occur so they can cancel some of that wealth. A well healed middle class is hard to control, but a deeply indebted one will bend to the wind. Look at banking history in this country. The banking "panics" of 1819, 1837, 1873, 1907, great depression in the late 20's early 30's, the savings and loans bank crisis of the 80's - 90's and the financial debacle they call the great recession started in 2007 and lasting through the rest of the first decade of the twenty first century.
The middle class was devastated in each and the rich got richer. Either the banks failed and restitution from the treasury, tax revenue, was used to let them recover or they consolidated and became bigger.
Mortgages made up a huge portion of money sent to the banks by it's customers and was their principal stream of money. They also held a certain amount of their customer's money for safe keeping. Knowing that a bank had a certain amount of money being kept in savings accounts gave the bigger banks confidence in that bank giving them a better borrowing position.
That is why there is a wave of resisters trying to make digital currency like Bit Coin viable to use for payment and eliminate the need for the big banks. For the concept to work, everyone including merchants would have to recognize the digital currency and allow trade using it for payment. Now the merchant has to be linked to the entire digital currency community to the point of every transaction in the currency would be passed through that merchant for them to see. After all of this, there would have to be redeeming places that deal in the digital currency. Last but not least, there would have to be some type of safe guards in place that you know your piece of the action is secured. Who would guarantee this? It can only work if the big banks can have a piece of the action, otherwise it is doomed from the inception.We already have digital currency called a credit card.
The black market, drug cartels and other unscrupulous organizations want the digital currency to succeed because they could make their transactions without anyone knowing it. There would be no regulatory commission or any other agency to guarantee the viability of the currency and fraud could run rampant.
More another time...
J
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