In 1913 JP Morgan and JD Rockefeller set up today's FED by using their deep pockets and political connections to push through the Federal Reserve Act of 1913, which ceded the sovereignty to coin money to the FED, thus setting up future Greenspans, Bernekes and Geithners to blow up the economy, leaving all of us where we are right now. In a atmosphere of public distrust of bankers similar to today's, Morgan and Rockefeller came out publicly, vociferously against the act while privately spending millions to in support of it. The one two fake out worked then and has many times since, it's such a obvious ploy you would be forgiven for wondering how. In reality the elites actually have a very limited playbook, but they also have the huge luxury of a complacent, compliant competition in the US public.
Now along comes Obama to deliver the same one two to the simpletons in stupidville.
President Barack Obama and everyone else in Washington is in a sprint for the microphones to express outrage at the big bonuses for the knuckleheads who screwed up American International Group and threaten to do the same to the rest of the economy.
Obama wants to take every legal step possible to kill the bonuses. Sen. Chuck Grassley (R-Iowa) wants the AIG executives to consider killing not just the bonuses but themselves, too.
But with with the average American family's wealth down 18% due to the collapse of the credit bubble it's morning in America and that playbook just lost a page.
Here’s something neither Obama nor Grassley answered in their bellicose remarks Monday: Why did it take so long for the president and senior lawmakers to get so worked up? More troubling, why did it take so long for them to discover AIG planned to give huge bonuses in the first place?
That fact that the main stream media whores are actually asking that question in public shows just how a the turn we've taken.
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