wealth inequality by wealth inequality youtube video screenshot
Before you read this article, I implore you to watch a short film on wealth disparity. It's at http://youtu.be/QPKKQnijnsM if the below viewer doesn't work. This is without a doubt the very best SHORT film EVER produced on this vital subject. If, after watching this film, your flesh does not crawl, then you're already dead. There is thus no need for you to read the rest of this article.
Here are the facts. 1% of the people in the U.S. own 40% of the nation's assets, such assets being $54 trillion. This means a mere 3 million people own almost half of the nation's wealth. Who are these 3 million people, the "1-Percenters"? What are their names? Don't the other 308 million people in America deserve to know who these people are and even where THEY LIVE?(1) Here's why they do. Most of these 1-Percenters have preempted the nation's wealth as a result of predatory, unethical and often times illegal business practices, what Bill Clinton euphemistically apologizes for as "unjust enrichment."
Let's take a look at the primary ways this "unjust enrichment" happens, mostly assisted by Wall Street and the New York-based banking system as they run rough-shod over the U.S. Constitution. Many fear that unless this unjust enrichment, and the attendant wealth inequality, are brought to the more equitable wealth distribution mentioned in the film, we can expect another French Revolution.
For those of you who are history-challenged, too young or just interested in partying, the French Revolution was the time when the starving masses, in 1789, rounded up their 1 Percenters and chopped off their heads, including the head of Queen Marie-Antoinette, who is reported to have said: "Let them eat cake if they are out of bread."
Wickipedia describes the French Revolution as follows:
"Amidst a fiscal crisis, the common people of France were increasingly angered by the incompetency of King Louis XVI and the continued indifference and decadence of the aristocracy. The revolution was sparked by France's effective bankruptcy due to the enormous cost of previous wars. . . the royal court at Versailles was seen as being isolated from, and indifferent to, the hardships of the lower classes. . . . aspirations, given focus by the rise of Enlightenment ideals, included peasant resentment of royal absolutism; and privileges possessed by the nobility; hatred of Queen Marie-Antoinette, who was falsely accused of being a spendthrift . . ."
Does any of this sound familiar? In today's wealth-disparity, establishment historians and spin doctors will endlessly argue the causes and issues -- but does it matter? When millions are below poverty and only 3 million people own $22 trillion of the nation's assets -- out comes the guillotine sooner or later.
The long-term economy of the U.S. is now so bad, the current generation has a lower standard of living than its parents. Most of us have been going backwards economically since at least 1971. The bottom 40% of Americans hardly have ANY wealth whereas the top 20% have 83% of the wealth. Chances are if you live to 85, you won't leave any inheritance to your children: you will leave them with debt.
Why is this?
IN A SENTENCE, IT'S BECAUSE THE BANKS AND 1-PERCENTERS THAT OWN, OPERATE AND BENEFIT FROM THEM -- PERSONALLY AND THROUGH CORPORATIONS -- CONTINUOUSLY SIPHON OFF ALMOST ALL TECHNOLOGICAL PROGRESS BY MEANS OF FIAT CURRENCY AND TRICKS WITH MONEY.
Fiat currency is anti-Constitutional "money" that we are forced to use for all our transactions by what's known as legal tender "laws". This currency is called Federal Reserve Notes, and you may even have a few of them in your wallet. "FRNs" are anti-Constitutional because they are not backed by silver or gold, as required by Article I of the U.S. Constitution. FRNs are debt instruments, similar to "Bills of Credit" outlawed in the U.S. Constitution. That's why they are called Federal Reserve "Notes." An FRN is no longer redeemable in silver or gold, because in 1813, the New York banking cartel of the day lobbied Congress to grant them what eventually became the special privilege of printing currency, paper currency that can't be converted into gold or silver. Between 1913 and 1971, gold and silver money were thus phased out, the final nail in the coffin coming when President Nixon said the following on national TV:
"I directed Secretary Connelly to suspend temporarily the convertibility of the dollar into gold or other reserve assets except in amounts and conditions determined to be in the interest of monetary stability and in the best interest of the United States. In full cooperation with the International Monetary Fund and those who trade with us, we will press for the necessary reforms to set up an urgently-needed NEW international monetary system. Stability and equal treatment is in everybody's best interest."
This is double-speak for the fact that Nixon was announcing that the U.S. would no longer honor gold contracts with foreigners. Listen to the actual Nixon speech at http://youtu.be/rcnhF09QN78. This too should make your flesh crawl. What Nixon was telling the world in political double-speak was that the U.S. was defaulting on its obligations to settle our trade deficits (differences) in gold.(1) This is what he really meant by "suspend temporarily convertibility of the dollar into gold" -- dollars were no longer redeemable in gold. Thus was born the Federal Reserve "Note".