It sounds pretty corrupt to me, and if future elected officials could concentrate on innovative ways to fix what seems to be a money grab by the rich and influential, maybe we could get things corrected.

I am confident that bright minds can figure all this out, I just wish those minds were the ones working for us in Washington.

It is true that the banking industry is responsible for the business cycle, the cycle up caused by credit expansion the crash caused by excessive loans. This in turn is funded through the Federal Reserve Bank.

The best way to stop the corruption in the banking industry is to stop giving them counterfeit money from the Federal Reserve Bank. Also, the banks have the power to counterfeit money themselves. Most of the money in the economy is created by banks.

The power to create money leads to the business cycle. If the amount of money were stable then the business cycle would not exist or would be considerably muted. If that were the case, deflation would be a natural part of life. Goods and services would continuously become cheaper because the amount of money is increasing slowly or not at all.

That is how the American economy was when my great grandparents came here in the late 19th century. There were increasing real (inflation adjusted) wages and decreasing prices.

The banking industry convinced Woodrow Wilson to establish the Fed and give them unlimited power to create money. The result is that for most of my life there has been a stagnant real wage (no growth in 40 years) and repeated recessions.

The solution that Obama offers is absurd. Obama does not hate the banks. They are his bosses. Rather, he has to seem to hate them because his dim witted left wing supporters will stop liking him otherwise. So he gives them a few trillion dollars (along with Bush), the biggest example of corruption in the history of the world, and he encourages them to print much more money than they ever have before. Under Bernanke the Fed has tripled the monetary base. Then, he goes around telling everyone that he’s going to tax them. That’s funny because if you triple their counterfeiting rights and then tax them 10% you’ve increased their counterfeiting rights by 290%, which is what Bush-Obama have done.

I must say this, he’s right about the banks. They are not an industry. They are an extension of the federal government. They would not exist without the Fed. Much like welfare mothers, they live off the public. But welfare mothers received loot in the billions. Banks receive loot in the multi-trillions. They are super-sized welfare mothers. Jumbo welfare mothers.

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