{"id":9557,"date":"2015-06-30T07:00:54","date_gmt":"2015-06-30T12:00:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9557"},"modified":"2015-06-30T07:00:54","modified_gmt":"2015-06-30T12:00:54","slug":"capitalism-has-devolved-into-looting","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9557","title":{"rendered":"Capitalism Has Devolved Into Looting"},"content":{"rendered":"

Capitalism Has Devolved Into Looting<\/a><\/h3>\n

In the Western World Capitalism Has Devolved Into Looting<\/p>\n

\u2026when you see that men get richer by graft and by pull than by work, and your laws don\u2019t protect you against them, but protect them against you\u2013when you see corruption being rewarded and honesty becoming a self-sacrifice\u2013you may know that your society is doomed. \u00a0\u00a0\u2013 \u00a0Ayn Rand, \u201cAtlas Shrugged\u201d<\/em><\/p>\n

There\u2019s no such thing as markets anymore \u2013 only interventions. \u00a0\u2013 \u00a0Chris Powell, co-founder and Treasurer of GATA
\n<\/em>
\nAyn Rand is a pariah among those who believe that government is our benefactor. There are times and conditions when government can be a benefactor of the people. But not in the Western world at the present time. As Michael Hudson and I agree, Western central banks refuse to create money to finance economy recovery. Money is created only for the benefit of the oligarchs\u2019 banks in order that the oligarchs can continue to control the governments.<\/p>\n

In the US for the past seven years the Federal Reserve has provided cheap bank reserves for the banks to lend at a markup or to speculate with. Banks are no longer suppliers of capital for productive investments and employment. Instead banks invest in speculation, arbitrage, derivatives, financing corporate takeovers and stock buybacks. The Fed has made it unnecessary for banks to pay for deposits. Instead, the banks get free money and charge consumers with negative interest rates for making deposits. For seven years Americans have, thanks to the utterly corrupt Federal Reserve and US government, been deprived of interest on their savings. In the Western world today, savers are penalized, not rewarded.<\/p>\n

In Greece and Europe the banks are the oligarchs\u2019 method of control just as the Federal Reserve is in the US and the Bank of England in the UK and the European Central Bank in the EU. The same in Canada, Australia, and Japan.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Capitalism Has Devolved Into Looting In the Western World Capitalism Has Devolved Into Looting \u2026when you see that men get richer by graft and by pull than by work, and your laws don\u2019t protect you against them, but protect them against you\u2013when you see corruption being rewarded and honesty becoming a self-sacrifice\u2013you may know that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[971,111,124,303,305,4780,599,1092,2951],"class_list":["post-9557","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-ayn-rand","tag-capitalism","tag-central-banks","tag-fed","tag-federal-reserve","tag-looting","tag-oligarchs","tag-oligarchy","tag-paul-craig-roberts"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9557"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9557\/revisions"}],"predecessor-version":[{"id":9558,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9557\/revisions\/9558"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}