Dr. Rasmus continues the review of the Federal Reserve Bank, showing how the private banks today control the Fed more than ever in recent decades. How the Fed’s structure permits private banking interests to dominate strategic decisions of the central bank, and how there control of the Fed is about to deepen further under Trump. Jack explains how the expansion of Debt before 2008 was the source of the crisis, and how $50 trillion more debt has been added globally since 2009. Debt is the appearance of the crisis. Excess credit has enabled it but excess liquidity provided for decades by the Fed and other central banks is the source of the excess credit and debt. How the Fed and other central banks contributed to the last financial crisis and have been creating the next. The explosion of central bank liquidity under Greenspan from 1986 to 2006 is detailed, leading to multiple financial bubbles and culminating in the 2008 financial crash. Jack previews the show with comments on ‘Donald the Trumpet’s claim he saved 1100 jobs at Carrier Corp, but facts show Carrier is sending 600 jobs to Mexico and automating away the rest in the US. How ‘The Trumpet’ claims of jobs in auto and mining also are false. (Next week: The Fed under Bernanke and Yellen).
