Posted 5 years ago on Oct. 28, 2011, 7:26 p.m. EST by Satyr000
This content is user submitted and not an official statement
Its time to start looking at the bigger picture here. As it has been brought up over the years things like the current economic crisis in the United States have happened through out the world at one point or another. If you want understand why so many people the world over are pointing to the worlds central banks as the cause of all this. The central banks are where these economic downturns start. Due to the fact that they are all contorted and manipulated by the corrupt people who have there fingers in every one of them.
This also is why people are also pointing fingers at Goldman Sachs. Keep in mind Sachs was founded before the Glass Stegal Act. Sachs opened in 1869. With every repel of the Glass Stegal Act Sachs grew and grew. The first repel of Glass Stegal was in 1980, The Depository Institutions Deregulation and Monetary Control Act of 1980. Here is what The Money Control Act of 1980 did:
It Federal Reserve greater control over non-member banks:
It forced all banks to abide by the Fed's rules.
It allowed banks to merge.
It removed the power of the Federal Reserve Board of Governors under the Glass–Steagall Act and Regulation Q to set the interest rates of savings accounts.
It raised the deposit insurance of US banks and credit unions from $40,000 to $100,000.
It allowed credit unions and savings and loans to offer checkable deposits.
Allowed institutions to charge any interest rates they choose.
Required banks be charged Fed Float for use of funds received before clearing between depository institutions.
If you still don't see where this is going look at the history of Citigroup. On April 7, 1998 banking giant Citicorp and financial conglomerate Travelers Group to form Citigroup. They are becoming another Goldman Sachs.
And like I said before the current economic downturn isn't something that just randomly happened. Any one that was living in Sweden during the early 90's can tell you that.
"A bursting real estate bubble caused by inadequate controls on lending combined with an international recession and a policy switch from anti-unemployment policies to anti-inflationary policies resulted in a fiscal crisis in the early 1990s. Sweden's GDP declined by around 5%. In 1992, there was a run on the currency, with the central bank briefly jacking up interest to 500%"