The 1913 Federal Reserve Act let powerful bankers usurp money
creation authority in violation of the Constitution's Article I,
Section 8, giving only Congress the power to "coin Money (and)
regulate the Value thereof...." Thereafter, powerful bankers used
their control over money, credit and debt for private
self-enrichment, bankrolling and colluding with Congress and
administrations to implement laws favoring them. As a result,
decades of deregulation, outsourcing, economic financialization,
and casino capitalism followed, producing asset bubbles, record
budget and national debt levels, and depression-sized unemployment
far higher than reported numbers, albeit manipulated to look
better. After the financial crisis erupted in late 2007, even
harder times have left Main Street in the early stages of a
depression, with recovery pure illusion. Today's contagion has
spread out of control, globally. Wall Street got trillions of
dollars in a desperate attempt to socialize losses, privatize
profits, and pump life back into the corpses by blowing public
wealth into a moribund financial sector, failing corporate
favorites, and America's aristocracy. While Wall Street boasts it
has recovered, industrial America keeps imploding. High-paying jobs
are exported. Economic prospects are eroding. Austerity is being
imposed, with no one sure how to revive stable, sustainable
long-term growth. This book provides a powerful tool for showing
angry Americans how they've been fleeced, and includes a plan for
constructive change.
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