Global Economy – Exacerbating Crises With Erroneous Policies And Stratagems

August 30, 2013

By Padmini Arhant

The economic woes confronting the world are unemployment, underemployment, trade deficits, lower consumer and investor confidence and rising debts in the sluggish economy.

The economic downturn that began in December 2007 attributed to financial crises and sub-prime mortgage as well as hedge fund debacle relieved bankers from liabilities using  taxpayer bailouts transferring the burden on ordinary citizens in the economy.

Bankers in control of money management in the United States through privately owned and run Federal Reserve assumed absolute power with no oversight despite huge anomalies found during internal audit. 

The missing $ 9,000,000,000,000 i.e. $ 9 trillion acknowledged by Inspector General Elizabeth Coleman during Congressional hearing is the tip of the iceberg with more alarming activities surfacing on bankers’ modus operandi.

The banking syndicate comprising Bank of England  – epicenter for fraudulence having laid the foundation on monopoly over national and world economy leads the Federal Reserve in the United States, European Central Bank (ECB), IMF, World Bank and major European Banks with monetary policies aimed at maintaining the status quo.

While IMF and World Bank have successfully derailed economies of developing nations,

The strategy for Europe and North America premised on severe austerity stressing the need to address fiscal cliff generated by banking and financial sector has resulted in dire economic consequences witnessed in Portugal, Ireland, Italy, Greece and Spain (PIGS) although the rest of Europe are not far behind in sharing the dismal state.

The elite group reining authority over global economy is deploying methods in withdrawal of quantitative easing restricting cash infusion or economic stimulus allowing arbitrary interest rates adjustments at Federal Reserve discretion.

Federal Reserve Chairman Ben Bernanke issued a statement on June 20, 2013 that quantitative easing program is in the process of elimination completely by the middle of 2014. 

The detrimental plan produced shock waves in stock markets worldwide the following day i.e. Friday, June 21, 2013.

Regardless, the drastic measure is already underway with limitations on interjection ignoring the necessity for economic revival.

The constraints on liquidity flow facilitating interest rates to rise evidently counterproductive considering the adverse impact on business and home ownership  in the growth deficient economy.

Consumer spending contraction affecting retail industry with ripple effects on manufacturing and interconnected operations extends negative trend in the economy.

Federal Reserve decision to deoxygenate i.e. deprive economy from necessary money distribution via cash and credit backed with redeemable bonds and securities in the absence of growth oriented investments deepening economic problems and stalling recovery.

The money supply held within major private banks lacking in transparency and accountability misleads economy and in worst case scenario adopt aggressive tactics like assets seizure and savings depletion sparing neither the states nor individuals witnessed in the Mediterranean nation – Cyprus deal.

Furthermore, Wall Street financing of political system undermines sovereignty leaving the voters at financiers’ mercy on legislation.

The predicament for citizens is subjugation voiding their ballots in the polls with corporate funding of political campaigns and recipients allegiance to donors against electorate and national interest.

United States administration and congress with rare exceptions prioritizing corporate agenda over constituents’ basic needs like jobs, housing, health care and environment pose greater challenge for the people paying the price in political stalemate on issues concerning the vast majority.

The nation is grappling with multitrillion dollars expenditure on military expeditions and permanent army bases across the globe.

Simultaneously ineffective regulations accommodating past practices into the present and erroneous strategies targeting safety net features plus lifeline products favor financiers and special interests groups in the national and international domain.

The efforts to privatize social security having been the only reliable source of income for retirees and baby boomers nearing retirement alongside home mortgage ponzi scheme replicated in student loan scams forcing fresh graduates and predecessors submerge in financial debts prior to the start of career stifle productivity and revenue reflected in national GDP and current account.     

Additionally, trade policies under globalization benefits stake holders in multinational companies and the top 1% drive to accumulate wealth at the remaining 99% labor costs  empower the privileged class widening the gap between rich and poor in the world.

Besides the taxation policy disproportionately favor the affluent members with offshore tax havens and Swiss Bank accounts set up to promote tax evasions protecting illegitimate holdings and profiteering from illegal wars wasting taxpayer funds. These issues apparently not an important factor in discussion on fiscal responsibility.

The destructive course is unsustainable having exhausted means to exploit workforce and taxpayers worldwide with reckless and irresponsible activities discarding ramifications experienced by significant population struggling to make ends meet in their life.

In conclusion, the economic freedom made possible with republic governance engaged in money printing and circulation conforming to traditional function including monetary policy is the immediate priority to release nations from fictitious debt cycle developed for siphoning national treasury. 

The deceptive concept creating the perception of generational indebtedness with gloom and doom exempt the real beneficiaries in disguise as moneylenders from universal rules and standards.

Global action demonstrated in national call to abolish the Federal Reserve and counterparts in Europe and elsewhere is the way forward assigning the role to public represented democratic government with appropriate checks and balances for efficient performance.

The era of selective prosperity and opulence thriving on stratagems triggering global confrontation and warfare  is nearing termination in accordance with natural law setting expiration date for a new beginning.

Best Wishes to humanity at large for quantum leap progress uplifting the poor, the disadvantaged and the disenfranchised exemplifying meaningful accomplishment.

Peace to all

Thank you.

Padmini Arhant

 

 

 

 
 
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http://youtu.be/o-pav_yPFkI http://archive.org/details/9TrillionDollarsMissingFromfederalReserve-FedInspectorClueless http://youtu.be/lKM14DAl5nw http://youtu.be/B3hni2VNriw http://youtu.be/LXY34r8vvDw

Written by Padmini Arhant · Filed Under Economy, Featured | 1 Comment