by Eric Bolling
President Obama had us all fooled… until now! Here’s how the scam works.
Banks are allowed to “borrow” from the fed at virtually zero% (0%). they then take “our” money and loan it right back to the government, a risk free handout to the banks, from us. The bank’s loan some of our money to the middle class and poor at 4% or 5% whatever they can get. Home loans, car loans, etc., that’s more free money to the banks. And, what they can’t loan, they throw into the stock market… in bundles of billions of dollars… driving up stock prices.
All these gimmicks create huge profits for the banks, printing and loaning trillions of dollars keeps interest rates at zero. Obama and Bernanke keep telling America low interest rates are good for the economy.
The banks and traders are getting richer and the poor, the middle class, retirees and pensions are being taken to the slaughter house.
The bottom line, President Obama is exactly the opposite of what he is selling the American public… he is the friend of the fat cat bankers, brokers and thieves and a cancer to the neediest among us.
For exact details, read more at Fox Nation