The fed fueled gambling racket (aka: the stock market), is on the verge of going bust. And as with some European countries, bank accounts and retirement funds will be conficated, and draconian tax rates will be employed by the government to bail out the bank and business interests, again. Of course all of this will be blamed on the greedy 99%, while the 1% will walk away fom the whole mess they created clean as a whistle, all the while laughing at all of the idiots in government and the general population who fell for their bullshit plans for systematically looting the US economy. This is how soros made his fortune, and you’re an idiot if you think he couldn’t pull it off here.
“confiscated”? well, sort of. In the case of Greece which is the most recent relevant example, the confiscation amounted to discounting the federal bonds by upwards of 80%. First they discounted, hair cutted, the ones held by banks then they whittled their way into personal holdings. That’s the situation I fear most here-—the gummint will simply tell banks holding federal bonds to kiss off.
And Soros’s fortune will go from 20 billion to some multiple of that. He will become the most powerful man on Earth if he is not that already..
The fed fueled gambling racket (aka: the stock market), is on the verge of going bust.
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Where would the market be today without the Fed’s massive QE program? We’ll never know for sure but it certainly wouldn’t be anywhere near the level it is today.
In June 1929, the national debt was $17 billion. Interestingly, it is $17 trillion today. However, the debt to GDP ratio was only about 16% when the depression began; debt is about 100% of GDP today.