It is essential to begin by affirmation of the fact that wealth (capital or material) like most everything else, in moderation is not inherently evil. Only when an attribute or material item is abused does it become an evil. The unique quality of wealth is that the greater the acquisition of wealth, the greater the capacity to produce harm by abuse. The Jekyll Island summit in 1910, with the JP Morgan/Rockefeller class formulated the architecture of the Federal Reserve Act (passed by Democrats). The Federal Reserve Act of 1913 established all United States monetary and debt control in the hands of the wealthy. This led to the Stock Market crash of 1929 and the subsequent Great Depression. The manipulations of the Federal Reserve Board, creating money/wealth out of thin air, without the gold to give it stability and value, provided the opportunity for the Marxists during the Roosevelt administration to firmly entrench themselves in the Democratic Party while the Republicans became the party advocating the carte blanche endorsement of the #Aristazzi usurpation of government control with wealth and business interests. A major backlash to the fiscal opportunism fostered by the Federal Reserve Act, was the enactment of the Glass-Steagall Act which mandated banks must be either investment or commercial.
Between then and the repeal of Glass-Steagall (by another democratic administration) in 1999, the US went off the gold standard and allowed the Federal Reserve total discretion in interest rates, printing of money, reserves required by banks, etc.. After passage of Gramm–Leach–Bliley Act investment and commercial banks were again allowed to merge, becoming the #TBTF financial behemoths we know today, and laying the foundation for the cavalier and careless CDO’s, derivatives, CDS’s, and Hedge Funds whose improvident risk-taking produced the Great Recession.
The common denominator throughout all the catastrophic fiscal machinations has been the greed and self-interest characterized by the obscenely wealthy (#Aristazzi) working through both major parties to achieve their short-sighted gains. The unfortunate component of government intervention in the distribution of wealth (capital or otherwise) has been that those with the least wealth and political leverage suffer most while the obscenely wealthy laugh all the way to the banks they own.
Then, the minions of the #Aristazzi produce their lame opinions to justify the erosion of the middle class and unchecked decrease in the mean income. Not to mention the pompous arrogance of the #Aristazzi who apparently believe they retain a divine right to their economic superiority. These charlatans, demagogues, and mental degenerates cannot provide factual rebuttals to the historical evidence, so they rely u
pon the play book of “Rules for Radicals”; RULE 5: “Ridicule is man’s most potent weapon.” There is no defense. It’s irrational. It’s infuriating. It also works as a key pressure
point to force the enemy into concessions. (Pretty crude, rude and mean, huh? They wa
nt to create anger and fear.)