The monetary elite = the entire financial sector of the economy, primarily the banks.
The Special Privileges =
1. A bank's ability to create and distribute money, limited only by its reserves at the Fed.
2. Taxpayer bailouts of the banking systems bad loans.
3. The secrecy rules that allow the banking system to operate in secrecy, even from shareholders.
4. Accounting gimmicks banks alone are legally allowed to use that disguise their inherent insolvency.
5. FDIC guarantees that protect their deposit liabilities.
6. The unlimited ability to borrow reserves from the Fed if the Fed so desires.
An excellent summary of the special privleges and an explanation of why they will necessarily lead to monetary collapse, read the 14.5 page introduction of Special Privilege: How the Monetary Elite Benefit at Your Expense
While I'm somewhat concerned about the growth of Freddie and Fannie, I am much more concerned about banks and investment banks funneling money to foreign governments and multi-national frauds like Enron, etc. than I am about an institution that lends to the common ordinary consumer---the one sucker, that still attempts to play by the rules!
2. Taxpayer bailouts of the banking systems bad loans.
3. The secrecy rules that allow the banking system to operate in secrecy, even from shareholders.
4. Accounting gimmicks banks alone are legally allowed to use that disguise their inherent insolvency.
5. FDIC guarantees that protect their deposit liabilities.
6. The unlimited ability to borrow reserves from the Fed if the Fed so desires.
Can't argue with you here.