In a taped interview with CBS’ “60 Minutes” that aired on December 5th, Federal Reserve chief Ben “Bubbles” Bernanketried to brainwash the American public, into believing that “Quantitative Easing” (QE), is absolutely necessary in order to prevent further losses of jobs, and tried to assure his listeners that he has the skills to keep inflation under control. The US-jobless rate would have been far higher, “something like it was in the Depression, at 25%,” -- had the Fed not provided tens of trillions in loans to Wall Street banks and other financial companies, he said.
Two-years ago, the Wall Street Oligarchs played the central role in the greatest financial scandal in the history of the world, - one which wiped out tens of trillions of dollars in wealth, nearly bankrupted giant corporations and entire countries, and plunged the world into the deepest slide in global trade since the Great Depression. Huge profits were made in sub-prime mortgages, based on a Ponzi scheme of exotic financial derivatives and packages. When it came crashing down, the public treasury was looted to cover the financial aristocracy’s losses.
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