The Confidence Game: How Unelected Central Bankers Are Governing the Changed Global Economy

by Steven Solomon

An expose of the elite group that controls the international money supply reveals unprecedented power and how close the global economy has come to collapsing. This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0684801825
• ISBN13: 9780684801827
• Release Date: June 1995
• Publisher: Simon & Schuster
• Length: 606 Pages
• Weight: 2.70 lbs.
• Dimensions: 1.7" x 6.5" x 9.5"

Customer Reviews

1987

The fed, a private bank, arbitrates the fierce competition for political control of the money supply between the financial forces of the market and the spending of the government. The capitalist designed the central bank because they wanted to lend money. The expansion and contraction of the money supply is managed by the Fed giving the central bank power of the money supply, increase or decrease of employment, and shifts in the swing of the business cycle. The logic of the capitalist is the maximize profits and this means always the preserving the value of accumulated wealth. The primary purpose of the democratic liberal state is too ensuring liberty, equality, defense, and the economic welfare of its citizens. The capitalist distrust the government because they believe governments will seek a monopoly over the money. However, both parties share the same goal, economic prosperity. So, the two branches of power, Government and the Market receive money flowing through the control of the Fed: The first through the Federal Reserve Bank of New York which links directly too the inner circle of bankers that control the money injecting into wall street and the second through the Treasury Secretary, the main ambassador to the government. The treasure produces high-powered money is invested into US securities having the net affect of expanding the money supply. The Fed is not immune from the market force, the Fed must steer the economy through the peaks and valleys of the business cycle and positions itself in a place of authority to maintain confidence in the currency. The fed operates within a sphere of intelligence; autonomously functioning to safeguard the orderly functioning of the financial system, which provides the financial funding, too drive a market economy. The Fed is an independent judge, responsible for governing the world's money supply, independent from both the market and government. The fed only tangible asset with the market is credibility. The Fed establishes credibility with the public through formidable public relations, economic research, quiet legislative lobbying, and the exploiting the public demoralization with partisan politics. At the same time the Fed must persuade governments to accept market logic for the economy over the long run. The Fed presides over an inner club of national financiers protecting and publicly admonishing them to temper quests for profit, at the expense of the public good. The Fed influences market financial stability setting the bond market long-term interest rates. Interest rates affect either tighten or loosen credit by cooling down or heating up economic growth. Globalization has transferred money sovereignty too the central banks. Democratic governments were not transferring more money sovereignty to the central banks voluntarily, it was stateless capital forces enabling global investors power too move money through foreign exchange currencies into the safest and most profitab