reply to post by jamewatson
The Federal Reserve Act was a compromise, which created a federal monetary system without a central bank. It was probably voted in the way it occurred
Because there were too many parties looking to create a system of pure corruption. The system in place was a disaster, and bankers like JP Morgan
practically ran the country.
Things improved for a while, but then fast forward to the twenties, where speculative banking was born allowing the creation of trusts, corporations
that were purely investment based. Massive fraud took over the stock market, private debt soared, and a great pyramid was built, that then collapsed
under its own corrupt structure.
Enter the Great Depression. People had finally wisened up to the true ugly nature of the corporate entity, and elected politicians who wrote laws that
once again greatly restricted the legal bounds of corporations, raised taxes on the rich, and put in place laws that protected the rights of workers
The US entered a period of building infrastructure, but the economy continued to flounder until WWII, and massive government spending kick started our
economy. The US ended the war victiously, emerging as the world's new super power.
Laws were firmly in place restricting corporations, protecting consumers and workers, with strong defense of unions that are critical to the rise of a
strong middle class. The US government quickly paid off its debts, even while fighting a war in Korea, rebuilding Europe and Japan, forgiving debts,
and continuing to build and expand our nations infrastructure.
The US lived through a period of its greatest prosperity, innovation, cultural expansion in arts, music, and science.
Ah, but the ICBs still were hanging around, slowly putting their plans in place to take control once again. Through assassinations and other crooked
schemes, they got their man Nixon into the white house. Long term planning enabled the bankers to create their welfare ghettos in the cities (done
under Nixon) which turned the US public against the idea of welfare, stirring up the ani-socialism propaganda, and the crowning achievement, the
energy crisis, which allowed the bankers to trigger double digit inflation, resulting in the elimination of Usury Laws, which restrict interest rates.
With these crisises put in place by the ICBs themselves, they convinced a new gullible and spoiled public that that laws restricting corporations were
the cause of all the problems, along with unions, who then voted in politicians who dismantled the very system that had allowed such great prosperity
to exist in the fifties and the sixties.
This is the story of how the ICBs took back control of the world economy.