I enjoy listening to Bill Still on YT.
The video I have questions about is linked below. It was put on YouTube yesterday and it already has over 15,000 views and the way YT lately has been falsifying down numbers it does not approve of , that 15,000 views is probably quite lowball.
Anyway, I am trying to understand what the Fed's raising of interest rates actually means for we little guys. If anyone can answer my questions or comment on whether my understandings from this video are correct or incorrect, I would appreciate it.
First of all, Still says outright that it has long been known that the Federal Reserve is left leaning when on the surface they claim to be neutral and just trying to manage the economy in a fair and balanced way. That is true and that is important, but of all I have imbibed about the Fed and the economy over the years, I just wonder why this is now only being stated clearly right now.
Trump needs to get rid of Yellen immediately and any other Fed officers he has the authority to dismiss as a first step to ENDING THE FED. We do not want to fiddle around with Ron Paul's "Audit the Fed" anymore. It is now crystal clear that the Federal Reserve is openly working AGAINST the U.S. economy and national sovereignty and working against current President.
The Fed Declares War on Trump, #1454
The Still Report
The Still Report
Published on Jan 26, 2017
"So let’s get this straight – [B][U]when the Fed raises interest rates it is to worsen the U.S. economy. Why? When interest rates go up, what happens? There is less borrowing.
So what do you suppose happens to the total amount of money in the U.S. economy when there is less borrowing? There is less money. And that’s how the Fed justifies it."
Still goes on to say that the little guys go bankrupt when there is less borrowing and therefore less money in the economy.
I am not exactly sure exactly how that takes place.
It seems like it is good that we poor people cannot borrow as much and that we do not get involved in crooked credit deals. It seems like that IF it is good that this less-credit, less-money-in-circulation situation actually will ostensibly hold down inflation and prices of groceries and necessities the poor man has to buy, then it is not real clear to me exactly how this will make the poor man go bankrupt.
Still went on the explain that the big moneyed elites will then come in and buy up at pennies on the dollar the assets the poor man had to give up when they went bankrupt.
I guess the assets Still is saying the little guy will have to give up refers to their house asset, mortgages, if they have non-fixed rate mortgages because the payments will become too expensive each month. Or maybe he is referring to newer cars poor people have purchased with all the low interest loans on vehicles. I just am unclear on exactly how tighter credit and defaulting on loans the poor man never should have been sucked in to to begin with is such a bad thing. I also do not see that not even applying for higher interest rate loans on houses is a bad thing. It seems like a good thing.
The only really big bad thing I see for the poor man is that he will be forced into renting the asset houses that the rich guys bought up and those guys are holding all the cards and will keep raising rents on properties that will soon equal what the poor man would have been paying for a high interest rate mortgage. I do see that the rich buying up houses and having our shelter costs totally controlled by them is just more of the rich get rich and the poor get poorer - the one percent - taking over everything and leads to the elimination of the middle class and the furtherance of a two class system which leads to the rich's desired class warfare and revolution.
The whole housing market and NINJA loans racket and car sales racket just must be avoided by we poor people.
That is why I think living rural and being self sustainable and out of making loans and debt is the best option for we the poor of America. Live in a shack and have an old clunker for transportation and network and barter goods and services with fellow American growing poor class.
End the Fed Now, Mr. Trump!