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With a touch of humor, Grantham joked about not blaming Fed policy for climate change, then after reflecting saying, what about "the housing boom and bust and stock boom and bust." They caused epic downturn and unemployment, distracting attention away from enacting "a decent energy and climate bill," not the House alone passed cap and trade betrayal. Unrelated to environmental issues, it's a scheme to raise energy prices and give Wall Street a huge bonanza through carbon derivatives speculation, exploiting a potential multi-trillion dollar market. Grantham didn't explain.
"So there you are," he concludes. "The Fed really is at the bottom of almost all of our problems," reason enough to nationalize or shut it down, and give Congress back its money creation power as the Constitution's Article I, Section 8 demands.
Grantham omitted that, as well as systemic, corrosive fraud, but delivered otherwise excellent thoughts, what few knowledgeable analysts provide in an age of excess, criminal wrongdoing, economic crisis, and government under either party acting as Wall Street's handmaiden - worthy topics for detailed analysis by insiders who know best how the dirty system works. Jeremy, are you listening?
Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net. Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.
http://www.progressiveradionetwork.com/the-progressive-news-hour/ .
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