Saturday, September 17, 2016

Professor Thomas DiLorenzo: Hillary’s “Partner in Government”

Professor Thomas DiLorenzo reports:
As a U.S. senator, Hillary Clinton helped arrange for $1.65 billion in low-interest, federally guaranteed “Liberty Bonds” (supposedly earmarked for post-9/11 rebuilding in New York City) to subsidize the construction of Goldman Sachs’ gleaming new headquarters building in Lower Manhattan. During the 2005 groundbreaking ceremony for the project, she affectionately called the firm her “partner in government.” Three years later she supported the $10 billion Federal Reserve bailout of her too-big-to-jail “partner.” In return, Goldman paid her at least $675,000 for three speeches; has donated huge sums to her campaign; and recently prohibited its employees from donating anything to the Trump campaign. Her son-in-law was handed a hedge fund to manage by the CEO of Goldman Sachs (and reportedly lost 90% of the fund’s value).

So it was no surprise that Hillary feigned great offense at Donald Trump’s recent criticism of the Federal Reserve Board’s policy of “easy money” that pushes interest rates close to zero. “You should not be commenting on Fed actions when you are either running for president or you are president,” she indignantly declared.

Hillary Clinton apparently believes that there are four branches of government, not three and that the fourth branch – the Sacred Fed – should never be criticized by any of the other three. It’s OK for President Obama to criticize the Supreme Court during a state-of-the-union address; and for congress and the executive branch to engage in verbal sparring on a daily basis; but no president (let alone a lowly congressman) should ever make a negative comment about the Sacred Fed, according to the Hillary Doctrine.

This new Clintonian theory of American politics is yet another defense of the corrupt system of Fed-financed crony capitalism that enriches companies like Goldman Sachs with cheap credit and government bailouts. In return, the crony capitalists finance the careers and lifestyles of fabulously wealthy politicians like the Clintons. The Fed is the main financing mechanism of this racket, which is why Hillary wants to isolate it from criticism. In her world, any criticism of the Sacred Fed is, well, deplorable.
Hillary Clinton (Democrat-Goldman Sachs).