Exerpts from Zero Hedge, 10-24-12 – Simon Black of SovereignMan blog:
“Legendary oilman T. Boone Pickens famously calls America’s oil imports ‘the greatest transfer of wealth in the history of the world.’
Pickens is referring to the money that is paid each year to oil exporting nations, particularly those in the Persian Gulf which raked in around $100 billion last year. No doubt, this is an enormous transfer of wealth.
But it’s a drop in the bucket compared to the TRILLIONS that Ben Bernanke gives the world’s elite.
Over the past few years, central banks have created trillions of dollars, most of which they loaned to commercial banks at 0%. The commercial banks then loaned this money to their best customers (and governments) at a slightly higher rate.
The end result is that a huge chunk of those trillions ended up in the pockets of a small handful of people. The banks and their best customers get sweetheart deals to make even more money, while the vast majority of people get screwed with inflation.
…I call this ‘philanthropy of the wealthy.’ And it starts with Mr. Bernanke.
Naturally, the average guy on the street doesn’t get these deals. Instead, he gets hit with inflation and watches his savings erode. Just this morning…
This issue isn’t about rich vs. poor….The issue lies within the system itself– that our ‘free society’ has awarded a tiny elite the supreme power to control the price of money. And in doing so, central bankers steal purchasing power from the many and benefiting the few.
The scale of this theft is in the trillions of dollars. It constitutes, by far, the greatest transfer of wealth in history, vastly exceeding America’s energy imports.
It’s an unconscionable, immoral, ridiculous game….”
Simon Black goes on to strongly urge the purchase of precious metals to hedge against the coming paper-based deterioration of wealth.
First and foremost, however, U.S. citizens should demand ‘equal treatment’ from the Federal Reserve – in regard to credit extensions.
American families should demand nothing less than the same opportunity for direct, zero-interest (or near ‘zero-interest) credit extensions that are routinely provided to major domestic and foreign financial institutions.
This plan would free millions of Americans from large debt burdens as they paid off mortgages and installment debt obligations. It would jump-start economic growth, generate new tax revenues (without raising taxes). It would breathe in new efficiencies in the purchase of health care, and reduce the ‘cost’ of government.
The Leviticus 25 Plan.