STAFF NEWS & ANALYSIS
Senator Bernie Sanders: 'The Fed Is a Fine Institution but Wall Street Is Not'
By Staff News & Analysis - February 09, 2013

So my own view is, among other things, we've got to start breaking up these huge financial institutions, top six of which have assets equivalent to two-thirds of the GDP of the United States … The issue is that, to a very significant degree, the Congress of the United States of America is controlled by a handful of extraordinarily wealthy people and corporations, Wall Street being at the top of that list. And unless we address that issue, I fear very much for the middle class. I fear very much for our kids, for low income people and for seniors. Give you just one example, one example. You have this business roundtable which is the organization representing the CEOs of major corporations in America. These guys, without exception, make huge amounts of money. – Senator Bernie Sanders on PBS's Tavis Smiley program

Dominant Social Theme: We need to break up Wall Street to return the US to prosperity.

Free-Market Analysis: Okay, we made up the headline. Senator Sanders didn't really say that. But he might as well have.

This is generally an amazingly leftist interview that recently appeared on PBS (no surprise there) and has been getting a lot of play on the Internet because he makes strong statements about Wall Street (see above, and video linked below.)

Senator Sanders's rhetoric will be familiar to many because it has been popularized by the Soros-controlled Occupy Wall Street crowd. On the surface, this would seem to be ironic – that Sanders would adopt the anti-establishment rhetoric of uber-banker George Soros.

But then again, it makes little sense for George Soros to sponsor Occupy Wall Street. But reportedly he has – and may still be involved.

The ONLY way all this makes sense is if one adopts the paradigm of a power elite that is interested in regulating commerce at any cost because it derives its power via mercantilism – the control of the state via shadowy legal and regulatory levers.

The more regulations, the more control it has – as the power elite exists ABOVE the nation-state. Within this context, both Senator Sanders and Tavis Smiley are not, unfortunately, "fighting the power" but are part of it.

And that is what we modestly object to in this interview.

There is a Money Power above Wall Street, as we have often pointed out. No matter how powerful Wall Street is, those who work on the Street are in the employ of a top intergenerational banking elite that wants to run the world and uses the tremendous power of central banking to achieve this end.

The conspiracy has speeded up in the 21st century because what we call the Internet Reformation has exposed it. The top elites, running scared, are turning to economic depression, war and authoritarian regulations to create the chaotic conditions they need to birth a new, global society.

The slower way of making progress toward world government was to use dominant social themes – fear-based scarcity promotions. But the Internet is continually blowing up these memes. Global warming, the war on terror, even central banking itself have come under attack.

Increasingly, people simply do not believe the world is going to end via various natural disasters or even market failure (another favorite elite meme). Manipulated scarcity is something else – but for those who believe in manipulated scarcity the targets are increasingly obvious.

The manipulation of energy, water and food is achieved via power elite machinations. Want energy scarcity? Restrict oil drilling via environmental regulations around the world but exempt the Middle East. Then start a war in the Middle East. Control the temperature of the war and you can control oil prices.

Monopolize. Restrict. Control. It's a simple racket, really, and it is one that Wall Street really has nothing to do with, or not directly anyway. Wall Street is an order-taker. It carries out strategies. The plan to rule the world is being created at a higher level than that … fomented intergenerationally by a tiny, unaccountable group of impossibly rich individuals and their associates and enablers.

Busily they roll out false flags like Occupy Wall Street and WikiLeaks to control the dialogue. The necessity in this era is to make sure that a critical mass of people doesn't figure out what's really going on.

Blame government. Blame the people for electing their governments. Blame Wall Street. Especially blame Wall Street – and maybe Congress, too.

If you blame Wall Street long enough and hard enough maybe you can launch neo-Pecora hearings – the kind of hearings that were held back in the 1930s that "regulated" Wall Street and created the monopoly conditions that have given rise to the present ruin.

Regulation doesn't work. It only concentrates power, weakens markets and makes sure that the next financial crash is going to be even bigger than the current one.

And then people like Senator Sanders will call for MORE regulation, as he does very adeptly in the PBS interview.

Naked apes lie all the time. Successful liars are those who don't get caught and subsequently rise to the top of their fields. Sanders is very successful. And he probably believes what he is saying. But that doesn't make it right.

Sanders wants to blame Wall Street but he doesn't say much about central banking. Apparently it is okay for a tiny handful of men to print trillions of paper dollars any time they choose.

It's not. Monopoly central banking is the most egregious scam of the past millennium. It is the engine for the ruin that has overtaken the West. It will ruin the Earth if it is not stopped. Fortunately, it is already grinding to a halt as the Internet Reformation advances. It has seemingly lost the credibility it needs to survive.

The death of central banking is probably foregone. In its place the elites may try to substitute a state-run gold standard. This may prove impossible, too. Too many people "get it."

Money needs to be competitive. Competition – the Invisible Hand – is the only mechanism that works to fight corruption and create civil societies. Leave it up to government and you get the kind of oppressive leviathan that we see today – and a six-million person US Gulag.

Legislation cannot replace competition. Congress cannot substitute manmade regulations for natural law. It is a recipe for madness.

Sanders can pose as the people's protector, damning Wall Street's practices. But he is aiming at the wrong target, whether or not he knows it. Take down monopoly central banking and Wall Street will wither and die on its own.

After Thoughts

Beware of those who point fingers at Wall Street while neglecting to mention modern central banking. They are proposing palliatives instead of cures.

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