7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
2/22
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
6/22
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
7/22
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66 60$
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
10/22
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7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
11/22
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_`c \cjmc Odkkjv vctsveco fvacnkq ae :1=? jeo :1=3+ j} t`c bd~cveicet eccoco
jooatadejk fjmhaeb ndv ]ak~cv Mcvtanamjtc}% _`jt rcjkt` rj} jk}d td fc }`dvt ka~co%
Ae :1?3 Mdebvc}} ocfj}co t`c msvvcemq c~ce nsvt`cv+
vcosmaeb t`c fjmhaeb td dekq 63 |cvmcet% _`c jidset dn
]ak~cv Mcvtanamjtc} ae mavmskjtade oc|ceoco oavcmtkq s|de
t`c jidset dn }ak~cv fskkade ae t`c _vcj}svq ~jskt}+ jeo
sekc}} idvc }ak~cv mdsko fc |vdosmco+ t`cq rcvc zsamhkq
kd}aeb t`cav fjmhaeb jeo mdsko edt fc vcmavmskjtco% ]ak~cvMcvtanamjtc} fcbje td oa}j||cjv nvdi mavmskjtade osvaeb
t`c :1?=+ Hceecoq
rj} j}}j}}aejtco jeo t`c Seatco ]tjtc} Edtc} `c `jo a}}sco rcvc aiicoajtckq tjhce dst
dn mavmskjtade% At }cci} df~ads} td }dic t`jt \vc}aocet Hceecoq m`jkkcebco t`c &|drcv}
t`jt cpa}t fc`aeo S%]% jeo rdvko naejemc+& jeo `a} j}}j}}aejtade rj} kahckq j rjveaeb td
jkk nstsvc |vc}aocet} edt td aetcvncvc rat` t`c |va~jtc Ncocvjk Vc}cv~c"} mdetvdk d~cv t`c
mvcjtade dn idecq%
Rat`ae ojq} dn Hceecoq"} j}}j}}aejtade+ t`c Ncocvjk Vc}cv~c a}}sco at} ecr edtc} rat`
t`c dfkabjtade mkjs}c+ &_`a} edtc a} kcbjk tceocv ndv jkk ocft}+ |sfkam jeo |va~jtc+ jeo a}
vcoccijfkc ae kjrnsk idecq jt t`c Seatco ]tjtc} _vcj}svq+ dv jt jeq Ncocvjk Vc}cv~c
Fjeh+& vc|kjmco rat` dekq+ &_`a} edtc a} kcbjk tceocv ndv jkk ocft}+ |sfkam jeo |va~jtc%&
Avdeamjkkq+ t`c :1>? Hceecoq `jkn odkkjv rj} t`c kj}t }ak~cv
mdae |vdosmco ndv mavmskjtade ae Jicvamj% _`c Hceecoq
`jkn)odkkjv oc}abe+ `drc~cv+ mdetaesco td fc iaetco ae j ?3:12
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
12/22
Ocjt` dn t`c Odkkjv
De Ijvm` 63+ :1>?+ t`c ]cmvctjvq dn t`c _vcj}svq jeedsemco t`jt ]ak~cv Mcvtanamjtc}
rdsko ed kdebcv fc vcoccijfkc ndv }ak~cv odkkjv}% ]sf}czscetkq+ jedt`cv jmt dn Mdebvc}}
ojtco Gsec 6?+ :1>2+ |vd~aoco t`jt ]ak~cv Mcvtanamjtc} mdsko fc cpm`jebco ndv }ak~cv
fskkade ndv j |cvado dn dec qcjv+ setak Gsec 6?+:1>0% _`a} kcnt dekq najt Ncocvjk Vc}cv~c
Edtc} ae mavmskjtade rat` t`c bd~cveicet ed kdebcv dfkabjtco td ba~c t`c `dkocv dn j
edtc bdko+ }ak~cv+ dv jeq }|cmanam tjebafkc mdiidoatq ae cpm`jebc ndv t`c edtc%
Dsv |vc):1=? bdko mdae}+ rcvc rcab`co s}aeb t`c ocmaijk Xodkkjv$mcet}Y }q}tci% _`c
|vc):1>3 }ak~cv mdae} Xjeo |vc :1=3 "odkkjv"mdaeY akks}tvjtc} j }aiakjv `jvideq ) cpmc|t ndvs}aeb j oanncvcet ocmaijk }q}tci t`je ndv icj}svaeb bdko% R`ce t`c bd~cveicet jkkdrco
t`c Ncocvjk Vc}cv~c td ~adkjtc t`c Mde}tatstadejk fj}a} dn t`c odkkjv jeo naejkkq oa~dvmc
at nvdi bdko jeo }ak~cv+ t`c odkkjv mcj}co td cpa}t% Rc }takk `jo je dfgcmt rc mjkkco
"odkkjv}+" fst edr t`c seat dn icj}svcicet m`jebco td je aetjebafkc MVCOA_ ) ed kjrnsk
idecq vcijaeb ae bcecvjk mavmskjtade% Jeo+ aetjebafkc mvcoat ecco} ed }q}tci dn rcab`t}
jeo icj}svc}% ]aemc ed_@AEB a} s}co j} idecq ) qds"kk edtamc tjp+ fjeh jeo }jkc}
}tjtcicet} dntce oa}|kjq vjr esifcv} Xzsjetatq }qifdk}Y dekq*
]ak~cv odkkjv} jkid}t ijoc j vctsve ae :1>?+ r`ce Mdebvc}} j||vd~co t`c iaetjbc dn ?3
iakkade ecr }ak~cv odkkjv} td nsknakk t`c ecco} dn t`c fddiaeb mj}aed aeos}tvq ae Ec~joj%
=:>+ \cjmc Odkkjv} ojtco :1>? rcvc }tvsmh jt t`c Oce~cv iaet+ `drc~cv Mdebvc}}
kjtcv vc~cv}co at}ckn jeo ocijeoco t`jt |vdosmtade mcj}c% Jkk t`c mdae} |vdosmco td t`jt
|daet rcvc dvocvco td fc icktco% Edec dn t`c mdae} rcvc |vc}cv~co dv vckcj}co ndvmavmskjtade%
Fcmjs}c dn j mvatamjk }ak~cv }`dvtjbc ae :1>3+ Mdebvc}} |j}}co t`c Mdaejbc Jmt dn :1>3+
r`am` jst`dvawco t`c vcid~jk dn }ak~cv mdetcet nvdi mavmskjtaeb mdaejbc (cpmc|t ndv t`c
Hceecoq `jkn odkkjv! iaetco jntcv Ocmcifcv =:+ :1>?+ vc|kjmaeb at rat j mkjo
mdi|d}atade dn 23 |cvmcet md||cv jeo 63 |cvmcet eamhck% Nvdi :1>3 td :1>1+ t`c `jkn
odkkjv mdae} rcvc ocfj}co jeo josktcvjtco fq vcosmaeb t`c }ak~cv mdetcet td ?0 Mdebvc}} vc|soajtc} vcoci|tade dn jkk ndvi} dn &kjrnsk idecq& ae }ak~cv+
t`s} tsveaeb Ncocvjk Vc}cv~c Edtc} aetd j najt msvvcemq odic}tamjkkq ndv t`c nav}t taic%
\vdosmtade dn odkkjv mdaejbc oao vc}sic ae :12: rat`
t`c Ca}ce`drcv Odkkjv% _`c mavmskjtco mdae+ `drc~cv+
`j} ed }ak~cv mdetcet% _`c Ca}ce`drcv Odkkjv rj}}tvsmh rat` j md||cv)eamhck mdi|d}atade ndv mavmskjtade
jeo rj} t`c nav}t Seatco ]tjtc} odkkjv mdae td edt fc
}tvsmh ae j |vcmads} ictjk+ jkt`dsb` }|cmajk mdkkcmtdv}"
esnjmtsvco \vd}|cvatq `tt|7$$rrr%gcvciaj`|vdgcmt%mdi$ecrrdvkodvocv$|vd}|cv%`tik
n 66 60$
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
13/22
:12?)] Ca}ce`drcv Odkkjv
Cjbkc Vc~cv}cRcab`t 6?%31 bvji}8 mdi|d}atade+ dstcv kjqcv}
dn %0
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14/22
_`c idecq a} ba~ce ~jksc fq bd~cveicet najt (Kjtae ndv &kct at fc odec&! dv ocmvcc+
cendvmco fq kcbjk tceocv kjr} ndvmaeb |cd|kc td jmmc|t t`c nvjso+ ae |kjmc dn vcjk
idecq+ bdko jeo }ak~cv% Fq kjr t`c vcns}jk dn &kcbjk tceocv& idecq ae nj~dv dn }dicdt`cv ndvi dn |jqicet a} akkcbjk%
Mavmsi~cetaeb t`c fj}am kjr dn gs}t rcab`t} jeo icj}svc} jkkdrco mcetvjkawco
cmdideam jmta~atq ae j }tjtc$fjehaeb "mdifaec" td }dkckq octcviaec `dr ism` idecq
XmvcoatY td mvcjtc+ ndv r`di+ jeo jt r`jt md}t% Ejtsvjk vc}dsvmc} Xbdko dv }ak~cvY+
jsbicetco fq dsv dre kjfdv+ ed kdebcv octcviaec} t`c idecq }s||kq% Fjeh} edr "mvcjtc"
idecq XmvcoatY dst dn edt`aeb%
_`c ~cvq |vdnatjfkc ~cetsvc dn mdsetcvncataeb rcjkt` `j} fcce jvdseo ndv j kdeb taic%
_`c |vjmtamc dn s}aeb ocft j} t`c fj}a} ndv msvvcemq }tjvtco ae Fjfqkde%
]aisktjecds} rat` j mvcoat }q}tci rj}
j ecco td mdemcjk t`c nvjso |cv|cvjtcofq t`d}c cebjbco ae Xt`cnt fqY |vaema|jk
mvcjtade% _`cav }dkstade rj} j ncc
Xaetcvc}tY ndv t`c kdje dn edt`aeb% _`a}
}dkstade mvcjtco j ijt`cijtamjk
oakciij+ `drc~cv% @dr odc} dec
vctsve td j }dkc }dsvmc Xt`c fjeh}Y idvc
t`je t`cq kdjeco aetd mavmskjtade4 XNdv
}ai|kanamjtade+ aijbaec dec fjeh jeo j
tdtjk idecq }tdmh dn = cbb}%Y Kct"} }jq
qds fdvvdr = cbb}% R`ce qds vc|jq t`c
kdje+ qds jvc vczsavco td vc|jq t`c |vaema|jk |ks} aetcvc}t X: cbbY% @dr od qds vc|jq ?
cbb} de j = cbb kdje ) r`ce t`c fjeh} dre jkk t`c m`amhce}4 _d vc}dk~c t`a} |vdfkci
Xqdsv} ) edt t`c fjeh}Y idvc ocftdv} jvc vczsavco td fvaeb ecr "odkkjv}" aetd mavmskjtade
ndv vc|jqicet dn aetcvc}t de dst}tjeoaeb ocft}% _`s}+ je ceokc}} mqmkc dn ocftdv} jeo
mvcoatdv} a} ecmc}}jvq td |d}t|dec t`c aec~atjfkc ndvcmkd}svc% Odc} \dewa }m`cic }dseo
j||vd|vajtc4
_`d}c fjeh}tcv} r`d a}}sco S%]% |j|cv idecq (Ncocvjk Vc}cv~c Edtc}! |cv|ctvjtco j
nvjso rat` t`c mvcjtade dn |j|cv idecq s}co td }tcjk jrjq bdko jeo }ak~cv nvdi t`c
`jeo} dn t`c |cd|kc jeo td kddt t`c tvcj}svq dn t`c Seatco ]tjtc}% At rj}+ j} Nvcocvamh
Fj}tajt mjkkco ae `a} :03< fddh &_`c Kjr&+ kcbjk |kseocv%
_`c @aooce _jp7 AenkjtadeJedt`cv |vdfkci rj} mvcjtco rat` t a}mvcoat fj}co mvcjtade dn idecq dst dn
edt aeb% _`c aemvcj}co "}s||kq" dn mvcoat
oc|vcmajtc} j} j ejtsvjk mde}czscemc+
esnjmtsvco \vd}|cvatq `tt|7$$rrr%gcvciaj`|vdgcmt%mdi$ecrrdvkodvocv$|vd}|cv%`tik
n 66 60$
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
15/22
mvcjtaeb je ae}aoads} ecr tjp ) mjkkco
aenkjtade%
]aemc :1:=+ r`ce t`c Ncocvjk Vc}cv~c rj}
mvcjtco fq Mdebvc}}+ qdsv idecq `j} kd}t
1># dn at} |svm`j}aeb |drcv osc td aenkjtade%
&Vcicifcv r`ce bj} rj} dekq 63)mcet} j
bjkkde4 Qds mdsko tjhc j odkkjv odre td t`c
bj} }tjtade jeo fsq ndsv bjkkde} ndv j fsmh* Jt t`jt taic dsv odkkjv rj} fjmhco fq }ak~cv )vcjk idecq% Bsc}} r`jt4 _`jt }jic jidset dn }ak~cv }takk fsq} ndsv bjkkde} dn bj} tdojq*
_`jt gs}t |vd~c} t`jt vcjk idecq kahc bdko jeo }ak~cv `dko} at} ~jksc jeo at a} t`c S]
odkkjv t`jt fsq} kc}} jeo kc}}% J} j ijttcv dn njmt+ r`ce qds t`aeh jfdst at+ qds vcjkawc
t`jt bj}+ nddo+ jeo jkid}t c~cvqt`aeb ck}c `j} ED_ bdttce idvc cp|ce}a~c% At dekq }cci}
t`jt rjq fcmjs}c t`c ~jksc dn t`c S] odkkjv a} rdvt` kc}} jeo kc}} }d at tjhc} idvc jeo
idvc dn t`ci td fsq t`c }jic bddo} jeo }cv~amc}% Id}t |cd|kc t`aeh |vamc} `j~c bdec
s|+ fst jmtsjkkq7 at a} t`c ~jksc dn t`c S] odkkjv t`jt `j} bdec odre%& XFcvejvo ~de
Edt@js}+ _`c Kafcvtq OdkkjvY
_`c avdeq dn aenkjtade a} t`jt at} ~ amtai}
fcmdic aemvcj}aebkq oc|ceocet s|de
t`c ~cvq bd~cveicet$fjehaeb }q}tci
r`am` mdena}mjtc} t`cav |vdosmtade jeo
mvcjtco t`c aenkjtade% _d dnn}ct t`c
cnncmt} dn t`c |kseocv+ t`c |kseocvcc}
X|sfkamY ecco idvc j}}a}tjemc nvdi t`c
|kseocvcv} ) r`am` nsvt`cv ce}kj~c} t`c
|sfkam% J} rc }tjeo de t`c fvaeh dn tdtjk
cmdediam mdkkj|}c+ t`c bd~cveicet jeo Ncocvjk Vc}cv~c gs}tanac} at} mdetaesco kcbjk
|kseocv rat` }mjvc tjmtam} jeo mkjai} t`jt t`c fjeh} &jvc tdd fab td njak%&
_`c tvje}atade nvdi fjeh edtc} td bd~cveicet)bsjvjetcco msvvcemq ijvh} t`c c~dkstade
nvdi tvs}t ae j naejemajk ae}tatstade td tvs}t ae t`c cmdediam mj|jmatq jeo nstsvc
|vd}|cvatq dn t`c ejtade% _`c bvcjtcv j mdsetvac} |vdosmtade jeo |vdosmta~atq+ t`c idvc
t`c bddo} jeo }cv~amc} at dnncv} ae cpm`jebc ndv kcbjk tceocv+ jeo t`cvcndvc t`c bvcjtcvt`c mdenaocemc jeo tvs}t ae t`jt msvvcemq%
&Kceae a} }jao td `j~c ocmkjvco t`jt t`c fc}t rjq td oc}tvdq t`c mj|atjka}t
}q}tci rj} td ocfjsm` t`c msvvcemq% Fq j mdetaesaeb |vdmc}} dn aenkjtade+
bd~cveicet} mje mdena}mjtc+ }cmvctkq jeo sedf}cv~co+ je ai|dvtjet |jvt dn
t`c rcjkt` dn t`cav matawce}%& ) :10< Jeesjk Vc|dvt Ncocvjk Vc}cv~c Fjeh dn
Vam`ideo+ |b >
_`c Seatco ]tjtc} Bd~cveicet a} FvdhcFq :12:+ Eapde mkd}co t`c bdko raeodr+ jeo }td||co vcocciaeb |j|cv idecq ndv bdko+
t`s} tsveaeb Ncocvjk Vc}cv~c Edtc} aetd j najt msvvcemq aetcvejtadejkkq ndv t`c nav}t taic%Bdko zsamhkq vd}c ae |vamc d~cv t`c ecpt ocmjoc fq je j~cvjbc dn =?# |cv qcjv+ s| td
/03
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
16/22
Ae :123+ Jicvamje} rcvc |cviattco td dre vcjk bdko jbjae% Ae :10
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
17/22
iab`t fc je c~cv kjvbcv jbceoj `cvc% \cv`j|} rc `j~ce"t qct aocetanaco je c~ce idvc
}aea}tcv |vdfkci)vcjmtade)}dksmtade }mcejvad%
]`dsko je dak cifjvbd ce}sc+ |vdosmt }mjvmatac} rakk mjs}c nvcewq fsqaeb dn nddo jeo
nsck+ bdko |vamc} rakk }|ahc+ t`c odkkjv rakk mvj}` jeo bkdfjk |jeam rakk id}t kahckq fvcjh
dst%
Ba~ce t`c bvdraeb aenkscemc dn mdkkcmta~a}t |dkatamaje} `cvc jeo jfvdjo+ j kahckq }mcejvad
a} t`c bkdfjkawjtade dn rdvko naejemajk ijvhct} jeo t`c icvbaeb dn }d~cvabe ejtade} aetd
kjvbcv bkdfjk cetatac}% Ae t`c naejk zsjvtcv dn 6
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
18/22
dn jkk taic jeo }ct t`c }tjbc ndv j
occ| cmdediam vctvcem`icet+ rvatc}
Iahc R`atecq% Bvcce}|je}
aenkjtadejvq |dkamac} rcvc oc}abeco td
cp|jeo t`c rcjkt` bj| jeo mvcjtc
bvcjtcv cmdediam |dkjvawjtade
fctrcce t`c mkj}}c}% Fq t`c taic t`c
`ds}aeb fsffkc ocnkjtc}+ iakkade} dn
rdvhaeb mkj}} Jicvamje} rakk fc kcnt td
|jq dnn kdje} t`jt jvc mde}aocvjfkq`ab`cv t`je t`c msvvcet ~jksc dn t`cav
`dic% _`a} rakk aec~atjfkq mvcjtc
occ|cv }dmactjk oa~a}ade} jeo+ ~cvq
kahckq+ j |cvijecet seocvmkj}} dn
idvtbjbc)}kj~c}%
Bvcce}|je `j} }smmc}}nskkq |akdtco t`c ejtade aetd ~avtsjk ae}dk~cemq% Ae njmt+ t`c
|jvjkkck} fctrcce dsv |vc}cet }atsjtade jeo t`c |cvado |vcmcoaeb t`c Bvcjt Oc|vc}}ade
jvc }tvahaeb% Gs}t j} ij}}a~c ocft rj} jmmsiskjtaeb ae t`c ijvhct nvdi t`c |svm`j}c dn
}tdmh} de ijvbae+ }d tdd+ idvtbjbc ocft fctrcce 6
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
19/22
Ijeanc}td&Y
@dr kdeb mje t`a} MDEnaocemc)bjic kj}t4Edt ndvc~cv*
@dr a} t`c nvjso }s}tjaeco jeo |sfkam MDEnaeocemc ijaetjaeco4
&]`dsko bd~cveicet vcnvjae nvdi vcbskjtade (tjpjtade!+ t`c rdvt`kc}}ec}}
dn t`c idecq (mvcoat}! fcmdic} j||jvcet jeo t`c nvjso mje ed kdebcv fcmdemcjkco%& )) Gd`e Ijqejvo Hcqec}+ &Mde}czscemc} dn \cjmc%&
Fjeh} m`jvbc aetcvc}t de t`cav kdje} td ba~c t`c Ncocvjk Vc}cv~c Edtc} t`c
|cvmc|tade dn ~jksc%
_`cq mdset de t`c }`dvt vc}aosjk icidvq dn t`c dkocv bcecvjtade td vcicifcv t`c
ojq} r`ce bdko jeo }ak~cv mcvtanamjtc} mavmskjtco jt |jv rat` |vcmads} ictjk}%
_`cq osif)odre t`c |sfkam rat` bd~cveicet }|de}dvco |sfkam }m`ddk} r`cvc
}tsocet} ec~cv kcjve t`c tvst` jfdst idecq jeo r`cvc }tsocet} kcjve td cpm`jebc
kjfdv jeo |vdosmtade Xj}}ct}Y ndv m`cmh} jeo fjehedtc} Xkajfakatac}Y mvcjtco dst dn
edt`aeb ae j bd~cveicet |vdtcmtco fjeh%
_`c mdv|dvjtc dreco ijae}tvcji icoaj hcc|} t`c |sfkam oa}tvjmtco rat` je
ceokc}} }tvcji dn ede}ce}amjk cetcvtjaeicet jeo ecr} |vc}cetco fq rckk tvjaeco
|vd|jbjeoa}t}% R`ce rj} t`c kj}t taic qds `cjvo j ecr}mj}tcv dv |seoat vc|dvtjeqt`aeb t`jt ijoc }ce}c4
Mdenaocemc ae "mvcoat" a} jk}d |vdosmco fq tjpjtade% Bd~cveicet} bd td bvcjt kcebt`}
mdkkcmtaeb njv kc}} dn "at" t`je t`cq }|ceo ) td }s}tjae je jsvj dn ~jksc% Ae njmt+
bd~cveicet odc} edt ECCO td mdkkcmt tjpc} td |jq ndv }cv~amc} j} at mje }ai|kq |vaet
jkk t`c fjeh edtc} at ecco}%
&An+ de t`c dec `jeo+ t`c fjeh} d~cvkq cp|jeo mvcoat+ `q|cvaenkjtade dmmsv}% An+ de t`c
dt`cv `jeo+ t`c fjeh} d~cvkq vc}tvamt t`c cp|je}ade dn mvcoat ae dvocv td j~dao
`q|cvaenkjtade+ vcmc}}ade jeo t`ce oc|vc}}ade dmmsv}% _`c fjehcv}" &tvamh& a} td mdetaesc
td cp|jeo mvcoat rat`ae je cp|jeoaeb+ jeo t`cvcndvc c}}cetajkkq edeaenkjtadejvq+
cmdediq% _`c ae}dksfkc |vdfkci ae`cvcet ae mvcoat)cp|je}ade t`vdsb` nvjmtadejk)vc}cv~c
fjehaeb+ `drc~cv+ a} t`jt cp|je}ade dn j najt idecq }s||kq aec~atjfkq ia}oavcmt} jeo
rj}tc} vcjk cmdediam vc}dsvmc}+ vc}sktaeb ae je aemvcj}aebkq edevjtadejk cmdediq ) t`jt
a} je cmdediq t`jt odc} edt cp|jeo ae vcjk tcvi}% Ae }`dvt+ mvcoat)cp|je}ade fq
nvjmtadejk)vc}cv~c fjehaeb ae t`c kdeb vse bsjvjetcc} cmdediam mdkkj|}c+ rat` vc}sktjet
}dmajk m`jd} jeo |dkatamjk mva}a}%
_`c fsvoce dn bd~cveicetjk ocft ) ism` dn at ijoc |d}}afkc dekq fq mcetvjk)fjeh
&idectawjtade& ) `j} j||vdjm`co kc~ck} se}s}tjaejfkc ae vcjk tcvi} c~ce rat` ovj}tamjkkq
aemvcj}co mdena}mjtade dn Jicvamje}" cjveaeb} t`vdsb` cp|kamat tjpjtade% Fst Jicvamje}
}cci vcksmtjet td jmmc|t idvc tjpjtade td nseo t`c ec~cv)ceoaeb ndkkac} dn j }|ceot`vant
rcknjvc }tjtc% _`s}+ vc|soajtade dn t`c ocft (ae r`dkc dv ae |jvt! t`vdsb` cptvcic
oc|vcmajtade dn Ncocvjk Vc}cv~c Edtc} jeo fjeh)oc|d}at} ocediaejtco t`cvcae j||cjv}
kahckq+ an edt mcvtjae%& XOv% Corae ^acavj+ Gv%+ &_`c Ncocvjk Vc}cv~c ]q}tci7 J Njtjk
\jvj}atc de t`c Jicvamje fdoq \dkatam%&Y
Vctsve td Mde}tatstadejk &Vcjk& Idecq_`c Fafkc a} ~cvq mkcjv t`jt t`c tq|c dn icoasi dn cpm`jebc rc jvc td fc s}aeb a} edt
rdvt kc}} |j|cv% Rc mje mdetaesc td ndkkdr &ije"}& rjq jeo vcmca~c t`c msv}c}+ dv rc
mje od t`aeb} Bdo"} rjq+ jeo vcmca~c t`c fkc}}aeb}% Rc jvc |vc}cetkq fcaeb kco odre j
|jt` td dsv dre oc}tvsmtade+ jeo setak rc fcbae td }cc idecq j} j ]mva|tsvjk+ idvjk
a}}sc+ rc rakk mdetaesc td ka~c ae fdeojbc%
Rc od `j~c j m`damc+ jeo sktaijtckq+ at"} j idvjk m`damc% M`dd}c fdeojbc dv m`dd}c
kafcvtq%
Mdic dst dn `cv+ iq |cd|kc+ }d t`jt qds rakk edt }`jvc ae `cv }ae}+ }d t`jt qds
rakk edt vcmca~c jeq dn `cv |kjbsc}8 ndv `cv }ae} jvc |akco s| td `cj~ce+ jeo Bdo
`j} vcicifcvco `cv mvaic}% ) Vc~ckjtade :07?)3
An rc j} j ejtade jvc td j~dao cmdediam mdkkj|}c jeo fcbae td cegdq t`c ~a}ade dn dsv
esnjmtsvco \vd}|cvatq `tt|7$$rrr%gcvciaj`|vdgcmt%mdi$ecrrdvkodvocv$|vd}|cv%`tik
n 66 60$
7/31/2019 Manufactured Prosperity: Central banking, rising prices, rising taxes,rising debt, rising poverty
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ndseocv}+ rc is}t%%%
Vc}tdvc Jicvamj"} dvabaejk mde}tatstadejk idectjvq }q}tci dn }ak~cv jeo bdko
mdaejbc% _`c S] Mde}tatstade `j} ec~cv fcce jiceoco td jkkdr jeqdec dt`cv t`je
Mdebvc}} td mdae jeo vcbskjtc msvvcemq%
Ae}a}t rc vctsve td je `dec}t }q}tci dn rcab`t} jeo icj}svc}%
Ocijeo t`jt jkk t`c |j|cv msvvcemac} dn |va~jtc fjeh} fc tvsc naosmajvq ideac} )
t`jt a}+ fc vcoccijfkc ae }ak~cv dv bdko+ dv }dic dt`cv mdiidoatq rat` aetvae}am
~jksc%
Vc|cjk t`c semde}tatstadejk kcbjk tceocv kjr} ndvmaeb matawce} td jmmc|t rdvt`kc}}|j|cv idecq j} |jqicet jeo vc}sic t`c |vjmtamc dn s}aeb kjrnsk idecq (bdko jeo
}ak~cv! j} t`c dekq kcbjk tceocv msvvcemq%
Oa}ijetkc t`c aemc}tsds} jeo mdvvs|t vckjtade}`a| fctrcce t`c ejtadejk
bd~cveicet jeo t`c fjehaeb aeos}tvq t`vdsb` t`c Ncocvjk Vc}cv~c ]q}tci+ t`c
Ncocvjk Oc|d}at Ae}svjemc Mdv|dvjtade+ jeo }d de%
Jfdka}` ae`cvcetkq nvjsoskcet nvjmtadejk)vc}cv~c fjehaeb%
Ceo t`c bd~cveicet"} s}c dn t`c idectjvq jeo fjehaeb }q}tci} td &vcbskjtc& t`c
cmdediq jeo td ai|d}c |cv~j}a~c |dkamc)}tjtc }sv~cakkjemc de aeoa~aosjk}%
Aeoa~aosjkkq+ rc mje fcbae td tjhc idvc vc}|de}afakatq ndv dsv dre cmdediam nstsvc%
]td| aiicoajtckq aemsvvaeb ecr ocft% An qds"vc edr ae ocft+ bct dst%
R`akc rc }takk mje%%% rc }`dsko fc fsqaeb |`q}amjk bdko jeo }ak~cv j} t`c }tdvc`ds}cdn dsv rcjkt`% R`akc edt fcaeb vcjk Mde}tatstadejk idecq+ dreaeb bdko . }ak~cv
fskkade vc|vc}cet} t`c id}t sea~cv}jkkq tvs}tco ndvi dn }j~aeb} fcmjs}c bdko .
}ak~cv mdetaesc td fc t`c id}t raockq vcmdbeawco ndvi dn idecq% Sekahc najt
msvvcemq jeo }dic }tdmh ijvhct ae~c}ticet}+ bdko jeo }ak~cv rakk ec~cv kd}c JKK at}
~jksc%
_`c Jicvamje ]ak~cv Cjbkc a} t`c dnnamajk }ak~cv fskkade mdae
dn t`c Seatco ]tjtc}+ nav}t vckcj}co fq t`c Seatco ]tjtc} Iaet
de Ed~cifcv 6?+ :10>% Jicvamje Cjbkc ]ak~cv fskkade mdae}
jvc jnndvojfkc ae~c}ticet} jeo kcbjk tceocv rat` j ediaejk
njmc ~jksc dn dec odkkjv% Jfd~c jkk+ t`cq"vc t`c dekq }ak~cv
fskkade mdae} r`d}c : tvdq dw% rcab`t jeo 11%1# |svc }ak~cv
|svatq jvc bsjvjetcco fq t`c Seatco ]tjtc} Bd~cveicet%_`cq"vc jk}d t`c dekq }ak~cv mdae} jkkdrco ae je AVJ%
_`c Jicvamje Bdko Cjbkc a} je dnnamajk bdko fskkade mdae dn
t`c Seatco ]tjtc}+ jst`dvawco seocv t`c Bdko Fskkade Mdae
Jmt dn :103+ jeo nav}t vckcj}co fq t`c Seatco ]tjtc} Iaet ae
:10>% Dnncvco ae :$:< dw+ :$? dw+ :$6 dw+ jeo : dw
ocediaejtade}+ t`c}c mdae} jvc bsjvjetcco fq t`c S%]%
bd~cveicet td mdetjae t`c }tjtco jidset dn jmtsjk bdko
rcab`t ae tvdq dsemc}% _`c}c mdae} jvc ijoc rat` bdko nvdi
}dsvmc} ae Jicvamj+ rat` je jooatadejk jkkdq dn }ak~cv jeo
md||cv td |vdosmc j idvc rcjv)vc}a}tjet mdae dn %1:>2 (66
hjvjt+ r`am` `jo kdeb fcce t`c mvdre bdko Cebka}` }tjeojvondv bdko mdae}!%
_`c Jicvamje Fsnnjkd+ jk}d hedre j} j Bdko Fsnnjkd+ a} j
6?)hjvjt bdko fskkade mdae nav}t dnncvco ndv }jkc fq t`c Seatco
]tjtc} Iaet de Gsec 66+ 6+ 6
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|kjtaesi jeo |jkkjoasi% _`c }ak~cv Ij|kc Kcjn mdae mdetjae}
dec tvdq dsemc dn |svc %1111 naec (dv &ndsv)eaec}&! }ak~cv+
ijhaeb at t`c |svc}t dec)dsemc }ak~cv mdae |vdosmco fq jeq
bd~cveicet iaet jeqr`cvc ae t`c rdvko+ jeo a} j kcbjk
tceocv mdae rat` j njmc ~jksc dn na~c Mjejoaje odkkjv}%
_`c 0
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_`a} }atc rj} oc}abeco jeo a} ijaetjaeco fq ^am F ak}de :11>)6