Dimension of America’s everlasting underclass grows as Fed continues printing trillions for its ‘overlords’ – bitcoin pioneer Max Keiser

Whereas US shares are hovering close to a three-month excessive, hundreds of thousands of individuals are out of labor. RT talked to Max Keiser in regards to the financial system’s present scenario and the federal government’s response to that.

The unemployment fee might go to 100 % and markets would nonetheless go larger as “the Fed continues gifting trillions of to America’s overlords who use the cash to fund their cartels,” the previous Wall Road stockbroker stated.

“In the USA, staff aren’t wanted. Individuals paid $ three trillion in taxes final 12 months whereas the Federal Reserve Financial institution, a non-public financial institution owned by just a few overlords, printed $ 6 trillion for themselves in per week. And this quantity is about to leap to greater than $ 20 trillion this 12 months.” 

In line with Keiser, “America is changing into Saudi Arabia, a rustic populated by princes and paupers with no center class in any way.” 

Keiser defined that the market stopped buying and selling on fundamentals in 1987 when the US authorities below Ronald Reagan began, for the primary time, shopping for shares and bonds to bail out corrupt bankers. “Each president since has expanded this system, utilizing the free cash the Fed prints for them.”

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On the similar time, the US central financial institution “categorically lies about its intentions,” because it says it’s ‘preventing deflation’ by printing cash regardless of the overwhelming, irrefutable proof they’re inflicting deflation.”

Keiser defined that “the cash printing goes to zombie banks, zombie corporations and financial institution cartels that put it of their pockets. The productive a part of the financial system is starved of money and dies.” 

So long as there are shares and bonds to purchase and “the Fed prints trillions for itself to purchase them for the advantage of its benefactors, the overlords and the cartels, inventory costs will proceed to rise and the dimensions of America’s everlasting underclass will develop,” he stated.

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