Way back in the 1700s, Scottish Economist Adam Smith wrote that “wealth is power”! And that’s just as true today as it was back then. Look at someone like Arnold Swatczneggar. The man was buff as all hell and could stop a moving train with the sheer strength of muscles. And then he’d make his pecs dance for the people! But now he doesn’t need to use his buffness, because he has enough money to purchase the train company, give the engineer a raise and ensure that train never runs on a track again. He stopped a train and he barely broke a sweat, but still made his pecs dance for the people! Wealth is power.
In America right now we are not just facing a vast income divide but a major wealth divide. In order to understand this, we have to look what income and wealth is. Income is the amount of money you make – and yes that’s before taxes! Really income becomes the amount you as a human worker are worth in monetary value on a yearly basis. In terms of Capitalism, wealth includes your income but it’s also your assets, which is the stuff you acquired and how they appreciate over time. By appreciate I mean that stuff is worth more a worker’s income over time.
It’s like how an unopened Star Wars action figure was like $1 in 1971 but now in 2020 is worth $86 billion! And if there’s a factory defect it’s worth $128 billion or as that amount is now called, half a Bezos! It appreciated in value. I’d say it wasn’t appreciated at all. You left a Star Wars action figure in the box? Luke never fought Vader? Yoda never came back to teach Luke? You didn’t create a new fantasy adventure that involved the return of Obi Wan as an evil force ghost, which would’ve been better than the sequel trilogy! I say you did not appreciate your Star Wars action figure at all! How could you appreciate something you didn’t let live!
Now at this point in our society we’ve seen the cost of living and food go up, but wages stay stagnant. Not just that but we don’t value intellect, creativity or problem solving in our society considering when there are budget cuts those are the things we cut first. It’s like educational equivalent of keeping toys in their original packaging. Basically we’ve over appreciated our stuff. In this Grand Canyon of Income Divides we are living in a state where the worth of workers and the human consciousness is less appreciated than … let’s say a shiny rock or a really big boat.
80% of Americans are living paycheck to paycheck, because their worth & wealth is directly connected to their income. For the working class wealth and income are basically the same thing. The work-a-day American is burdened with 3/4 of the debt in this country. From mortgages, car & student loans, credit card debt, and even debts to your friends for bailing you out when you failed at being a drug mule to try to pay off your debts, the American populous cumulatively had $13.5 TRILLION in debt as of 2019. And now in 202 its amount has grown to $14 trillion plus all first born children!
Now if that’s given you heart palpitations, that’s not just the shock of the numerical value of debt but also the fact that unfettered Capitalism is a health issue. Millennials are likely to die 40% sooner than Gen X’ers, because the wealth gap has put them in a position that they can’t afford healthcare for themselves or their families. Meanwhile Boomers seem to getting stronger and stronger despite the fact that there is a virus unleashed upon the planet that is specifically meant to kill them!
According to the VP of Strategy at Blue Cross Blue Shield, Mark Talluto, millennials don’t see physicians regularly because of not only the cost, but trust between doctors & the healthcare providers. But why would we trust a doctor that wants to dope you up to get free swag bags from the healthcare provider that just bought them a new Porsche? As far as I see it, that’s as much our Porsche as it is yours, doc, considering it was our pre-existing condition that paid for that thing. The state of healthcare is so bad thanks to unfettered Capitalism that millennials now have no choice but use to leeches to cure their migraines. Spoiler alert, it doesn’t work, but it does help us feel…something.
According to the Center For Disease Control, 90% of the expenditures of America’s healthcare is on mental health or chronic conditions. Which makes sense, because a healthcare for profit system is driving us fucking crazy! [SC 6] So because conditions are going untreated due to lack of affordability, they worsen and a sick workforce leads to less efficiency or a stoppage all together. At this point even our illnesses want a General Strike! This also proves that us Millennials aren’t lazy, but we’re just too sickly to work.
A very sick workforce can tax the healthcare system and create a lot of problems in the supply chain. Now Mark Talluto of Blue Cross Blue Shield wants workers to work collectively with the insurance companies to help decline the rate of millennial health and try to reduce economic impacts. Now working collectively sounds like Socialism. If Mark Talluto is talking about Medicare For All, he just needs to come out and say it! Stop tip toeing around and ask us to the Socialist dance already.
But in reality this is about making sure the insurance companies don’t have to cover the bill. They want us to give up things like food, shelter or water to ensure the health insurance companies don’t have to be burdened with the cost of the sick. But they fail to ask the question: Why do we need to make this Sophie’s choice regarding our basic needs!?
Even Social Security is part of the gap. Most average Americans contribute 12% of their annual income to Social Security. But if you make over a million dollars you don’t have to contribute into the system. And if the millionaires and billionaires did pay their fair share into the program, there would be an additional $1.4 TRILLION for Social Security. The way the system is set up creates a health crisis that, investigative reporter Nomi Prins says “unbalances the body & mind”.
The top 1% doesn’t have their wealth connected to their incomes because their incomes are only part of their wealth. Their wealth is connected to and cushions by the created financial institutions provided to them by the Federal Reserve Bank or as the cool kids call it ‘The Fed’. And I am one of the cool kids considering I’m writing a show on economics so I do get to call it that!
Now most people have recently heard of the Fed because in March of 2020 they pumped about $5 trillion into the Banking Industry and not into the thing that actually makes the economy run, which is people. And most people think that The Fed is actually part of the government itself, and they’re both right and wrong! So let’s look at what this thing is and how it was created.
The first thing to note is the Federal Reserve Bank is technically not a government institution, despite its name. Just like Captain Crunch isn’t really a real sea captain despite his name. I believe he’s actually an Admiral. The Fed is a private corporation who’s sole purpose is to create, sell and control the flow of money in the United States. The Fed is America’s Central Bank. On of the main functions of any Central Bank is to create money and loan it out to sustain the economy. The founding fathers of the United States of America were against this idea.
Famed 100 dollar bill, Ben Franklin said “The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary from the clutches of the money manipulators was the prime cause of the revolution.” Once the people saw that the tool of money was being used to control and manipulate them and keep them in poverty they pushed back to regain that control.
In the 1700s the way they decided to do it is a violent revolution! And that was possible because most of the people in the 1700s were better at cardio than anyone today since most Millennials are dying on the inside and out! And this sort of stuff isn’t really taught in schools because it’s not sexy to think that bank tyranny and an excel spreadsheet caused a revolution. Revolutions are supposed to be cool and banks are where you look at charts and statistics we don’t understand!
Kinda Famed 2 dollar bill Thomas Jefferson said “I believe that banking institutions are more dangerous than standing armies…if the American people ever allow private banks to control the issue of currency…the banks and corporations that will grow up around them will deprive people of their property until their children wake up homeless on the continent their fathers conquered.” Central Banks control the military since the government has to borrow the money from the Central Bank to pay for the war a nation wants to wage.
So this means that friendly banker cracking dad jokes about the economy is just as vicious and evil as Dick Cheney, a man that shot his friend in the face and then made that friend apologize to him! In that same light the banks make countries that they attack apologize to them for making them attack these countries.
So if the people that wrote the Declaration of Independence and came up with the Constitution, Bill of Rights and how to have game even when you have syphilis, were against the idea of a Centralized Bank, how the hell did it come into existence and have this much power? In the early 1900s, the central banks had been abolished and big industry Robber Barrons like the JP Morgans, the Rockerfellers, the Rothschilds and of the like were trying to control and pass legislation to REcentralize the banking industry so they’d have more control over it.
In 1907 JP Morgan started a rumor that one of the most prominent banks in New York City was about to fail. People started panicking. So President Teddy Roosevelt authorized then Secretary of Treasury George Cortelyou to give JP Morgan $25 million to help out the New York banks and maintain the faith in Capitalism. Morgan instead helped out his friends and ensured the failure of certain banks. The banks that Morgan didn’t bail out called in their loans and people had to sell their property to pay those off. So in turn a hot piece of gossip was able to take down the American economy.
This gave these bankers a huge leg up in passing this new legislation called the Federal Reserve Act, which was written in secret on an island off the coast of Georgia. Now the only way this could’ve been worse is if it was written in the state of Florida! A bill written in America’s dong would very blatantly fuck the American people over! Think of how awful the Fed could’ve been had it been written just 100 miles further South. Senators like Nelson Alrich, who had connections with bankers like JP Morgan, pushed for this legislation to be passed despite the opposition.
In the election of 1912, Democrat Woodrow Wilson was being financed by these bankers and vowed the Federal Reserve Act would be passed. Along with the Federal Reserve Act Woodrow Wilson also passed the Espionage Act which essentially criminalized military criticism which put Socialist Presidential Candidate Eugene Debs in prison and consequently is responsible for the illegal imprisonment of Julian Asange today. It’s also the predecessor of the Patriot Act. Woodrow Wilson is officially the Florida of Presidents!
The way the Fed finally secured all of its power was after it caused the crash of 1929. In 1933 the Fed seized all the gold and abolished the gold standard which made the printed money legal tender with nothing to back it except the word of the Fed. This was the first ‘Cash for Gold’ scheme in the United States! This makes American currency completely faith based. And thanks to the Fed we have a centralized bank, currency and God which is the dollar bill. I don’t even know why we have churches in the country. Every Sunday Evangelicals should be holding mass inside a bank and the tellers are your priests. But since we’re in the age of quarantine, we should be responsible and do it front an ATM, with our masks on!
Just as a reminder, the Fed came into existence because of banker gossip, a club house with no girls allowed in Georgia, voting on Christmas and the ownership of Woodrow Wilson. In 20 years the Fed cheated its way to ensuring its power to make, distribute and loan money for the entirety of America. In 20 years the Fed amassed so much power by controlling wealth that in America it became a God.
Krish Mohan is a socially conscious, Indian standup comedian and writer who regularly tours the country. He performs at small theaters, bars, comedy clubs, colleges, DIY and house venues. With his quirky attitude, charming personality, and intelligent humor, Krish captivates and engages audiences of all backgrounds, tackling hot button topics like race, religion, war, immigration, while adding an optimistic, philosophical & sociological twist!