Since nobody has done a better job than Max Keiser and Stacy Herbert at covering the destructive and deflationary nature of Quantitative Easy, I direct this statement at them in hopes they can go even further on their show to reveal what Quantitative Easing is on a sociopolitical, historical, and yes, even biological level.
QUANTITATIVE EASING IS EUGENICS
(And to a lesser extent, so is keeping interest rates near or at zero).
Let me explain. Firstly, Quantitative Easing is the fraudulent justification of a massive redistribution of wealth from money created by a central Bank to the investment class under the guise that the money will trickle down after wealthy people spend more money (it’s the monetary version of Reaganomics). As Max has rightfully harped over and over again, Quantitative Easing causes deflation, because the wealth never trickles into the economy. Wealthy people, who usually become wealthy because they save their money, see that they are wealthier from QE, and continue to do what they did in the first place: save and/or invest the new wealth. So the debt deflation (Keen) continues, with only the assets that rich people own increasing in value (housing, stocks).
The increased wealth that they acquire through QE will most likely be passed onto the next generation, their descendents, who will come into the world with more wealth now as direct result of the fact that their parents acquired the wealth from QE but didn’t spend it. What about those children who come into the world with parents that aren’t wealthy from QE? They’re left out, have to work hard to save, get no savings since interest rates are zero, and then if they do get to invest, they have to buy houses or stocks at higher prices, increasing the price of the assets already held by the rich.
Max has pointed out numerous times that QU is reverse capitalism that punishes workers and savers in favor of those that already have money. All those Pickety fans should take note, as it’s not just the power of capital that creates extreme wealth for the capitalists, but rather now it’s QE and ZIRP that creates more wealth for the investment class who don’t even care about starting new businesses but would rather watch the value of their house or stock portfolio go to all time highs..
So if there is a justification of Quantitative Easing and ZIRP, it’s to separate the rich and the poor so much that they begin to look like different species (like the Bertrand Russel quote below).
A justification of this social Darwinism/Eugenics in the form of QE would be that the part of the genome that already has wealth obtained the wealth because they were superior to begin with, should have more children since they can afford to, and their wealthier children can breed with other wealthy children and have more children who come into the world with more advantages, etc. The poor who’s parent’s didn’t benefit from QE can’t sit at the table with the rich
I can debunk any notion that nothing good comes from a nobody without wealth in one name: Nikola Tesla. There should be shrines in America for Serbian Immigrant who literally transformed America and the world with his inventions.
I think this Bertrand Russell quote sums up how QE will create a permanent two class (or two species) system.
“Gradually, by selective breeding, the congenital differences between rulers
and ruled will increase until they become almost different species. A revolt
of the plebs would become as unthinkable as an organized insurrection of
sheep against the practice of eating mutton.”
*- Bertrand Russell, “The Impact of Science on Society”, 1953, pg 49-50*
Friedrich Nietzsche envisioned the very world we live in when he called for a global aristocracy beyond nation states that would rule the direction of the planet, “the masters of the Earth” (Read the fourth section of The Will to Power entitles Discipline and Breeding, it is truly enlightening).
Read more at http://www.maxkeiser.com/2015/04/kr740-keiser-report-destroy-capitalism-to-save-capitalism/#QGbgTA41lWgut3Jl.99