We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up
Saturday, October 22, 2011
What Quantitative Easing Really Means
Exotic terms like "quantitative easing" are bandied about endlessly in the media without any clarification of what such terms means. This is done deliberately to keep you ignorant about the crimes being committed by the financial aristocracy.
In an otherwise excellent explanation of the term and how the banks benefit from it, he fails to explain that the banks use these Fed created funds, for which they pay only .25% interest, to buy 5 year Treasury bonds that obligate the government (that's us taxpayers) to pay them 2.5% interest!