I think I will have to disagree with you on this one, @thecryptofiend. I would say the American dream died a very long time ago.
Some would say it was when the Federal Reserve was established, but I think it was when big business fully infiltrated the government, resulting in the implementation of a mass of regulations that made it very difficult for new businesses to get started.
When small businesses suffer, the opportunity for prosperity for the average citizen becomes a rarity. The rich just get richer and the poor poorer.
That's just my take on it anyway.
Great article. +1 upvote and resteem.
Thank you.
Yes that is one way of looking at it. I still don't understand how the whole Federal Reserve thing is considered a good idea!
This research would definitely back that.
To be brutally honest, it's because too many people are idiots. They hear the word Federal and presume that it means it is part of the US government--which it is not.
Then the erroneous understanding of patriotism that afflict so many of us kicks in, and you just end up with a bunch of ignorant fuckers shouting, "America!". Lol.
The craziest thing is that the public can't even get it audited! I believe Ron Paul tried that.
@thecryptofiend - uhmmm.. I think no one can audit it and there's nothing to audit either? it's bankrupt :D isn't it?
on the other hand rumor has it - it's printing money :D
It's a funny situation for sure!
Though we are led to believe that this means things are better for us, and that money from interest bearing loans goes back to the government and not to private stockholders-- this is really just an illusion.
The bank of England is essentially little more than a regulatory body nowadays. It is directly responsible for only a tiny amount of the UK money supply. It's regulatory powers however, give it supreme control over all other commercial banks in the UK.
With this power they are able to dictate which banks will be most successful-- and of course there is no mistake in which banks they select to prosper.
These banks which are chosen, are responsible for about 97% of money creation in the UK(don't quote me on that number as my memory isn't the best-- but it's around that). They also are most definitely privately owned and have stockholders that profit from the interest on loans that they print from thin air.
What has happened here is that the Bank of England was returned to the state as a dog and pony show, whilst the power of money creation and the immense profits for stockholders that come with it, were simply passed on to a number of different big banks.
I suspect the same thing will happen in America soon, and it will appear as though Trump is shutting down the Federal Reserve and rescuing the people from financial slavery, but in reality, the power will just be shifted to JP Morgan, Bank of America, Goldman Sachs etc. The same stockholders will still be cashing in their share of trillions-- only it will appear that it is the US government who is benefiting.
I think the people nowadays are wise enough to see through this though. At least I hope.
Edit: I meant to include that the previous shareholders in the Bank of England simply acquired shares in the banks that we now see dominating the British economy.
Interesting! Thanks for the input:)
Yeah it's fucked up. It has the US by the balls-- and the bank of England has the same grasp on us.
At least the Bank of England isn't a private bank (at least not since 1946). That is worse!