Thursday 30 May 2013
How to turn the economy around?By Ziad K Abdelnour
People keep asking me what would I do if I had the power to turn the US Economy around given my 25 year experience on Wall Street
Well here’s my 2 cents.... Fasten your seat belts.
I believe the first thing to be done is to abolish the Federal Reserve. It is owned by and operated for the benefit of the biggest banks in the world. Its sole purpose has been to enrich the few at the expense of the many through its insidious use of inflation and debt issuance. It has been around for less than 100 years and has debased the USD by 96%. The U.S. Treasury has the authority to issue the currency of the country. It did so from 1789 until 1913.
The 2nd thing to do would be to reinstitute the Glass-Steagall Act because Wall Street cannot be trusted to manage their risk properly. This would separate true banking activities from the high risk gambling that brought the economic system to its knees. Privatizing the profits and socializing the losses is unacceptable….more
Financial Revolution, Libertarian Economics, Get rich, Economic Revolution, Private Finance.