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“Our financial system is at a crossroads,” writes Kaufman. “We can either succumb to the forces that are shifting markets toward greater government back-stopping and socialization. Or we can create a structure in which no institution is too big to fail, and a financial system that is supervised effectively by a modernized central bank.”
Originally posted by Britguy
Looking at the happenings in the US from the outside, nothing that I have seen so far is by any stretch of the imagination "socialist" in nature.
Originally posted by Dimitri Dzengalshlevi
Why do Americans cringe at socialism?
Originally posted by ElectricUniverse
I agree with part of what Kaufman has to say. It is obvious by now that the goal, or part of it, is transforming the United States into a Socialist state.
However a "modernized Central Bank" is what got us into this problem to begin with, alongside to giving power to the rich elites over the U.S. economy.