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.
Mayer Amschel Rothschild said “Give me control of a nation’s money supply and I care not who makes its law”. This is an admission that a nation isn’t its people, its laws or its Constitution, but rather its money. The creation of the Fed was pitched as an economic stabilizer. But it is responsible for some of the most heinous acts of violence we’ve seen in the 20th century! This system has consistently widened the gap of wealth and power in this country and should be seen as an insult to the what the United States of America stands for.
The Fed is responsible for virtually every single one of America’s economic crashes. Now when it was first created, you can see how that’s possible. It’s still young and trying to figure things out, like a toddler learning to walk. Accidents will happen. Milk will be spilled. Someone’s gonna take a shit on a carpet. But after over a 100 years, you’d figure the Fed would have it’s shit together, but it’s just drunk on power and we all know that drunks are just big smelly toddlers that curse too much.
After the Federal Reserve Act was signed in 1913, the first thing they did was get ready to cause a crash. From 1914-1919, the Fed doubled the money supply and then in 1919 said the country was broke so it was calling in all the loans! This is what they claimed was happening in 1907 so really they’re just played their number 1 hit single for 4 years.
By 1920 there were panics everywhere. People were pulling their money out of their banks and these smaller community banks were going bankrupt. So they were bought up and consolidated into the bigger banks who had connections to the Fed.
Senator Charles Lindberg said “Under the federal reserve act. Panics are Scientifically created. The present panic is the first scientifically created one, worked out as we figure out a mathematical equation!” This is the power of Math! If it can create an astronomical amount of panic when it’s used for evil, think of how awesome it would be if it was used for good! We’d be well on our way to the Star Trek universe!
After seeing what the Fed actually was up to, President Florida-Man, Woodrow Wilson made a statement at the end of his Presidency stating, “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of a majority but a government by the opinion and duress of a small group of dominant men”.
Senator Louis McFadden pointed out that the Fed had usurped the United States government and was a proponent on pushing back against them. In 1921 the Fed introduced something new to ensure people would have faith in the market again. They called it a Margin loan. You purchase a stock option at 10% of the value and then get a loan from the bank for the rest of the 90%. That way it appreciates and at the end you can pay off the loan and make more money. But the catch is that loan can be called in at any moment and you have 24 hours to pay it. This would be like having a child play with Star Wars toy but then store says it wants the toy back and you one day to box it up perfectly! That’s some real Dark Side shit right there!
Also this is the laziest way of of making money ever! Pull yourself up by your bootstraps and make an honest living you monetary maniacs! Now in 1929, JD Rockerfeller, JP Morgan, Rothschild and of the like pulled their money out of the market, which was investing a lot in the Margin Loans. Once they did, the market crashed and all the loans were called in after they had depreciated. Hundreds of thousands of Americans lost everything and it’s considered one worst of moments of American history.
This is what we now know as the Great Depression. The economy looked at what the Fed was doing and was so upset about it, that it tried to kill itself and the Fed wouldn’t let it die. Now Louis McFadden did try to hold an impeachment trial to disband the Fed after this, but he had 2 assassination attempts on his life and then was finally poisoned!
These tactics were repeated again in 2008. The Fed cut interest rates for the banks to ensure that they can lend more money to people. Wall Street and the Banks loaned out money at higher interest rates and when the market crashed, the people were left in the wake. This is a remix of their number 1 hit single “Manipulate the Market To Create Panic”! It’s not the most catchy title but remember this was hit that was written in 1914 and click bait didn’t exist then!
And now they’re doing it again! Back in March, the New York Fed said it’ll offer banks $1 TRILLION in overnight loans with no interest in addition to pumping another $1 Trillion in 14 day loans on a weekly basis! This was meant to soothe banks like a child that was not just born with a silver spoon its mouth but also has a silver spoon to melt portions of the economy to inject directly into its own ass.
Back in 1913 the idea of the Fed was pitched as an economic stabilizer and once again things are no different. Macroeconomist Steven Friedman says that the Fed is a “shock absorber” and he’s right. It absorbed the shock of a crash it created only to electrocute the American public with poverty and stress included comas.
Also in March, we saw Senators sell their share of stocks before the markets crashed and make millions of dollars right before a global pandemic. This is no different than 1929 when the robber Barrons sold their stocks because they knew what was coming. They knew what was coming because they orchestrated it! They’re the friend that gets your drunk on the Fourth of July and tells you fire off bottle rockets everywhere setting the rest of your homies cars on fire. But this evil friend took a cab and also insures everyones cars.
Now the concern for the Fed today is that people are selling their stocks, because they’re realizing that it has no real value! It would be like trying to buy food actual Monopoly money. The stock market can’t buy you food. It’s a vehicle to make rich people feel like their important and average working class people feel like they aren’t working hard enough. The reason the Fed wants to give the banks more money is because it makes more money on the interest.
Look this is a clear indication from the people that this faith based currency that the Fed has control over is not the power we want in charge. People don’t want stocks, they want food, water, health, shelter and safety. Instead of Harry Pottering an economy by using a Banking spell, the Fed could’ve used the Trillions on purchasing food from community farmers, milk from dairy farmers to feed people and helped fund medical equipment for hospitals.
The Fed has proven time and time again that it’s need to have power through wealth will mean that we the people will be the victim of its tyrannical greed. The markets aren’t real but our health crisis is and this creature from the Capitalist Lagoon will be the end of us by not letting us die a natural death in peace.
One of the other major purposes of the Fed is to loan money out to the government. This means that for every dollar the government gets from the Fed, it has to pay back that dollar, plus the interest. So the only way to keep ahead is for the government to borrow more money with more interests and the cycle keeps going. Remember the government really doesn’t make money, but rather comes up with a budget for the Fed to loan out. This is the trappings of a debt economy and this why Capitalism is a snake eating itself and vomiting itself out simultaneously.
When it comes to debt as a form of control, nothing locks in social control like War Debt! The Fed loans more to the Government when they’re at war so to the Fed, wars are incredibly lucrative. The harsh truth is that for all the chest thumping, flag waving and dick measuring Americans do, most Americans don’t want to go to war. But they’re usually coaxed into the supporting it.
[FED 12] For America to get involved in World War 1, the ship Lusitania was deliberately sent into German Waters. Despite going into war torn waters this was still safer & cleaner than a Carnival Cruise line! The Germans sent a warning that said “Come on guys, this is dumb and you know it!” by putting an ad in the New York Times! But after the ship was attacked, America caught War fever and spent $30 billion on the war effort. JD Rockerfeller personally made $200 million in 1919.
During World War 2, FDR used economic sanctions on Japan to provoke an attack. He halted trade, froze Japanese assets, aided Japan’s enemies with supplies, which are all against the rules of war for a neutral party like America. You can’t passively help one side and still claim neutrality. This is like when guys say “just the tip” when they really mean they want to fuck! It’s stupid, dishonest and nobody wants to see your dick or even if it’s just the tip!
3 days before the attack on Pearl Harbor, Australian intelligence told America about the attack and it was ignored. After the attack 1 million soldiers volunteered for service.
But that’s not all. JD Rockerfeller was profiting from both sides. His company U.S. Standard Oil was partnered with IG Farben the company provided explosives and chemical weapons to the Nazis. U.S. Standard Oil provided fuel with a specific additive to help Nazi fighter planes bomb London. Rockerfeller was one of the men responsible for pushing the Federal Reserve Act and an OG in war for oil.
But that’s not all! The Union Bank in New York was a Nazi money laundering front that was called into trial after the war. The Vice President of The Union Bank of New York was Prescott Bush, the grandfather of George W. Bush. The Bushes really made war crimes a family activity. Something you pass down from generation to generation like commemorative plates or Huntington’s Disease!
America like likes it’s never-ending wars and the Fed is in love with them! If a war never ends then the government never needs to stop borrowing money. This is why the America’s real export is war! We have an economic system built on it. And the rich never have to see the horrors of war but get all its spoils.
Remember how I’ve mentioned that 80% of Americans live paycheck to paycheck and are burdened 3/4 of the debt in this country. Well there’s an easy way out if join the military. If you create the debt and then use military service as a way to pay the debt off it creates this forced voluntary military to justify fighting more wars for longer periods of time which furthers the wealth of the Fed. The Fed is the key to the functionality of the American War Economy. It is the primary funder of the never ending wars and its biggest beneficiary. This means that American economic stability is based on the destruction of other nations, that we gleefully take part in after we’re manipulated to get drunk on our own ignorance.
So if a Centralized Private & Corporate Bank like the Federal Reserve isn’t going to work because of its war crimes, laundering cash for fascists and ensuring the working class stays indentured and impoverished, what is a better solution to the problem? Some might say it’s best to get rid the idea of money, and go towards a logical, resource based economy, like architect Jaques Fresco suggested in the 70s, but I think we’re not quite there yet. When we can cancel the game Monopoly, maybe we’ll be ready to talk about Resource Based Economies.
By the way, I’m not saying a Resource Based Economy would be a bad idea, rather the opposite. I think it’s a fantastic idea and I did a whole video about it like 2 years ago. I’m now allowed to talk anyone at Wells Fargo or Chase bank, but I count that as a win. But it’s going to time to get to at Resource Based Economy and we should work on putting the steps in place to get out of the profit-driven death cult that is Capitalism, where we pay dues to meet our demise!
So a more immediate solution to the problem of the Federal Reserve is Public Banking. A Public Bank is exactly what it sounds like, it’s a state, city or county run banking system that uses loans to funds more community based banks or credit unions at lower interest rates and uses that interest to fund public projects and utilities for everyone to benefit from. Currently the system in place puts more money into Wall Street which is basically a way for rich people to put a point system to their Godhood. It’s like D&D but only with calculators instead dice and mages.
A Public Bank makes banking a utility so it’s accountable to the people that use that bank. The community of people are the shareholders not some James Bond villain in an ivory tower! Look we are accountable to pay the banks back for the loans we take, so why aren’t they accountable when they fuck up and … well I don’t know Crash the entire economic system and create genocidal world wars to profit from?!
And we do a pretty prominent Public Bank in place in the socialist paradise of Bismark, North Dakota. The Bank of North Dakota is a public, state owned bank that was created by farmers in 1919 and was able to whether the 2008 financial collapse. These farmers were tired of having banks in cities like Minneapolis and New York control who gets loans and how much they get. So, they decided to pool their resources and create a state-run Bank that is more about cooperation and community than about competition and corruption.
With that in mind, the Public Bank of Los Angeles movement is picking up steam. Despite their loss in 2019, they took the momentum of their movement and won on a state level to legitimize a Public Bank in California! Public Banks do what the Federal Reserve claims it does and ACTUALLY provide stability for their state, city or county by reinvesting taxes and interests into the state itself.
A major thing that Public Banks would help with is the underbanked and the unbanked in our communities. 30% of the citizens of Los Angeles don’t have access to bank account and fall victim to predatory lending practices like payday lenders, check cashiers who take a portion of their wages. Plus we’d lift the burden on mattress companies to make products that can also hide cash and focus on making products that just help us sleep at night. And we’d all be sleeping way better knowing our communities are being taken care of and most vulnerable in our societies are not being preyed on Capitalistic Vultures! That alone will extend millennial life spans by at least 15%!
Public Banking wouldn’t be something that could go National, but each state, city, or county would determine what kind of needs a Public Bank would serve in their community. This way the banking system isn’t centralized but the currency can be. And if the value of that currency is backed by the needs of people it makes it far stronger than saying it’s backed the Hocus Pocus power of Nazi Buddies like JD Rockerfeller!
Dr. Martin Luther King Jr. is quoted to say “When Machines and computers, profit motives and property rights are considered more important than people, the Giant triplets of racism, materialism and militarism are in capable of being conquered.” The Federal Reserve funds the military, pushes the people to purchase things we don’t need for the sake of more debt and supported the OG Fascism! They’re the giant triplets rolled into one! Divesting from Wall St. and the Fed shows the powers that be that we want to put the power back in our hands. Wealth backed by the people is far more valuable than wealth backed by vapid, greedy old men playing 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!