I think the Goldman Sachs story epitomizes destructive jungle-ethics financialism as opposed to constructive free-market capitalism. We and our country need and must have a revival of capitalism but I fear that will not be possible for as long as we have no-ethics, no personal honor kleptoparasites running the show in Washington and jungle-ethics financialists running the show on Wall Street.
A revival of true and actual free-market capitalism is needed and will be essential for the rejuvenation of the free market economies that are the life blood of the nation and the only viable source for prosperity for the people who live in the fifty states of The United States of America. Our government can run the printing presses and create more currency to put in circulation and then by fiat declare that the currency is dollars but it is our nation’s market economy and only our nation’s market economy that can establish and validate the worth of dollars. The phrase, “Backed by the full faith and credit of The United States Federal Government” has been made into a sad, sick joke that is being played on the American people by the kleptoparasitic statists who populate Washington and the jungle-ethics financialists who populate Wall Street and other financial centers.
Financialism is a game that is played by the no personal honor statists and they play it for the entertainment of the delusional who somehow believe that governments, just because they are governments, have superhuman powers with which things can be done that are beyond the capability of the rest of us mere mortal humans. On the contrary, it is We, the people who must provide for the power of the hubristic politicians and bureaucrats if they are to have power that can be used for any purpose.
I don’t know this for certain but I think that from this point and going forward, having a properly functioning Federal Reserve is probably essential for us to have a properly functioning economy and properly functioning markets of all kinds. However, we absolutely don’t need and our nation has no use for a Federal Reserve whose primary clients are the parasitic jungle-ethics financialists regardless of where they happen to be located in The United States as well as in other countries.
If we are to have a Federal Reserve then the one that we must have is one that serves the private sector market economy that We, the people must have if we are to have prosperity for ourselves and if we have any hope of ever repairing the damage that has been done by the legalized crime syndicates that have sprung up in places of power and influence.
Take care and have a good day.