The Fed, Jobs Bank for the Ruling Class


by Jerry Bowyer

I really can understand why Americans increasingly feel that the system is rigged — to a large degree, it is. I don’t mean the system of free-market capitalism; freedom is non-rig-able, at least in the long run. It takes power to rig the system, and one of the great powers that the federal government has, through the Federal Reserve Bank, is the power to create money from thin air. What an enormous advantage, which makes our ruling class almost god-like. In fact, the word fiat (as in ‘fiat money’) comes from the Vulgate — the Latin Translation of the Bible attributed to Saint Jerome. In the beginning God ‘fiat lux’; ‘let there be light’. In other words, fiat means ‘let there be’. It’s how God created the various elements of the world in the Vulgate. It’s how our self-appointed gods create the various elements of our monetary and financial system. But there’s a big difference between the two; our gods are not omniscient, nor even very wise, and what they have created cannot really honestly be called ‘good’.

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