PARASITIC FINANCIAL SYSTEM

In the word-cloud of current events, the phrase “parasitic financial system” billows up to a degree that suggests even so-called thinking persons begin to understand what’s happening: that banking shenanigans are sucking the life out of advanced societies. That’s why Matt Taibbi’s metaphor of Goldman Sachs as “a Vampire Squid jamming its blood funnel into anything that smells like money” remains so potent years after it was minted.

Of course the pervasive accounting fraud and routine swindling that drive the banking “industry” are abetted by the phantom government “policy” of the Federal Reserve, an institution that 99.999 percent of the American public could not explain under threat of water-boarding. The bottom line is political and economic leadership that can only pretend the economy works, and the destiny of such pretense is the death of legitimacy – meaning the public’s faith in the system. Sooner or later either the public will revolt against such a system, or the system will just implode and leave the public floundering in a period of dreadful chaos.

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