Summary:

The most significant heists from American taxpayers have all been orchestrated by government actions that overtly redistribute money and capital away from the public (taxpayers) and into the pockets of Wall Street firms, Major Banks, Major Corporations, the Government, and the dependent class. This leaves the public at a significant disadvantage, with their hard-earned money being siphoned off for the benefit of the elite. The sheer scale of these actions should alarm us all, as it directly impacts our financial well-being.

Here are massive redistribution actions taken by government leaders that robbed taxpayers and redistributed the benefit to the elite groups, creating an unjust and unfair system. This flagrant injustice leaves the public at a significant disadvantage and should not be overlooked. Aside from the above beneficiaries, government employees and the dependent class of welfare dependents are the primary beneficiaries. This system, built on the backs of hardworking taxpayers, is a stark example of inequality and unfairness that we all should feel outraged about.

Article:

As you follow the trail of money and reinforcement of power elites, it becomes clear that the American taxpayer public is not just a pawn in the game. They are the backbone of the financial system, yet they have little to no control over the situation, with their interests often being overlooked in favor of the elites. This lack of power, this feeling of being at the mercy of a system that benefits the few at the expense of the many, should not just cause concern for all of us but also engage us in the discussion and demand for change. It's crucial that we, as a public, become more aware of these issues and advocate for the necessary reforms.

The Federal Reserve, a pivotal institution in these financial dynamics, was created in 1913. Woodrow Wilson signed the Federal Reserve Act, allowing a private cartel of banks to become the central banks of the United States. This gave 12 Federal Reserve banks the right to print money to provide a safe, flexible, and stable monetary and financial system. The purpose was to address the threat of bank runs that characterized the Panic of 1907 and foster a sound banking system and a healthy economy. Understanding this historical context is crucial to grasping the current financial landscape.

The 12 private banks were chosen because of an earlier event. In 1910, a group of the wealthiest entrepreneurs, including representatives from the Rockefeller and Morgan banking interests, met on Jekyll Island, off the coast of Georgia. Their goal was to create a secret cartel and drive all non-member banks out of business. This meeting, which was kept hidden for years, laid the groundwork for establishing the Federal Reserve System in 1913.

Today, these Federal Reserve banks wield tremendous power and receive preferential treatment by creating/making money and profiting from the system at the expense of the public. The constant expansion of the money supply by issuing new fiat currency into the financial system leads to public debt that the government has no intention of repaying, setting the stage for a future financial crisis. This public debt, essentially due to the government's borrowing from the Federal Reserve, is a burden on taxpayers and a potential threat to our future economic stability. The potential impact of these actions on our future economic stability should make us all more cautious and more aware of the risks we face.

For every dollar created by the Federal Reserve, taxpayers owe a corresponding new dollar of debt, which also systematically erodes the dollar's purchasing power.

LBJ's raiding of Social Security, a significant event in the history of government financial practices, had far-reaching consequences. President Lyndon B Johnson issued an executive order in 1968 to raid the Social Security Trust Fund to balance the federal budget and close the gap in the federal deficit, pretending that the budget had been balanced. Johnson did not want to raise taxes but needed money for several ambitious government programs, including the Vietnam War, the Great Society War on Poverty (expanded welfare programs), and the NASA Space Race.  Thus, a star was born in misappropriating the Social Security Trust Fund to hide the size of the overall federal budget deficit. No president or administration has ever reversed this so that the social security system could accumulate tangible assets to pay for future retirees. This event had a profound impact on the future of the Social Security system and the financial burden it places on taxpayers.

Active workers currently pay Social Security to recipients. In fiscal year 2018, Social Security took in $912 billion and spent $991 billion, a $79 billion shortfall that had to be covered.

The Social Security Trust Fund ($2.9 trillion) and federal employee and military retirement funds ($2 trillion) are part of the national federal debt scheme. They are not assets at all.  They are a hollow shell filled with debt instruments that will never be paid back. All that is left as security in these agencies is a digital file full of non-negotiable bonds from the Bureau of Public Debt. The federal government can only redeem these debt instruments, creating more debt to replace the debt.

Imagine that assets on these Trust Funds' books were swapped for debt instruments expected to be owed and paid from future taxpayer receipts. This was the ultimate form of financial prestidigitation, which refers to a sleight of hand or trickery in economic matters. Yes, the debt you owe in the future becomes an asset to hold on your behalf to pay you when you pay back the original debt.

Your future social security payments are just a hollow shell of debt instruments, which can only be paid by current taxpayers or by issuing new debt. It is bookkeeping magic. This strategy has worked so far. However, the accrued government direct debt obligations and the interest due, coupled with the underfunded pension and medical obligations, will eat up the entire national budget, and then the Ponzi-based merry-go-round will stop. The Ponzi system refers to a fraudulent investment scheme where returns are paid to earlier investors from the capital of newer investors rather than from underlying business profits. In this context, the government relies on future taxpayers to pay off the debt it's accumulating now, which is unsustainable in the long run.

Allowing Public Employees the Right to Collective Bargain:

• President Franklin D. Roosevelt's letter, dated July 14, 1937, entitled Letter on the Resolution of Federation of Federal Employees Against Strikes in Federal Service, issued a stern warning against allowing public employees to unionize and collectively bargain.

In 1962, John F. Kennedy issued an executive order allowing public employees to form labor unions and engage in collective bargaining for more pay and benefits. Employees were given the right to bargain against the people they represented, and those they represented would pay the additional benefits they bargained for.

Public employees were given monopoly power to demand whatever they wanted. If they chose to strike and refused to work, they could not be replaced by other workers who may get better results for lesser compensation.  If they did not get what they wanted, they were given the right to strike and shut down part or all public services, such as schools, transportation, libraries, fire stations, police services, and all the other stuff we rely on and pay taxes for.

• In 1971, President Richard Nixon installed wage and price freezes in response to increasing inflation and surcharged imports and announced that the US currency would no longer be backed by gold. He unilaterally canceled any rights of international convertibility of the United States dollar into gold. This created a fiat money system, where a physical commodity like gold does not back the currency's value but by the government's full faith. No caps were placed upon creating or issuing more money into the system, thus creating more debt. Sustainability has always been a sublimated topic. This has increased direct debit, indirect debt, and unfunded pension obligations of over 220 trillion dollars, which will come due over the next 10 to 30 years. The only solution is to issue more debt to support the Ponzi system.
• The progressive tax structure is a taxation system in which the percentage of taxes paid increases as income increases. This system penalizes financial success. For example, a lower wage earner may pay 10% taxation, but a higher earner will pay a 60% tax rate of success. This is a massive systematic redistribution scheme. Since the lower socioeconomic subset of voters is more effective as a voting bloc, they always collectively vote for higher rates for higher earners.
• The only way to reduce the impact of federal debt obligations is to systematically erode the dollar's purchasing power. Since the Federal Reserve was formed in 1913, inflation has risen 3,087 percent. This process has decimated the middle class in the United States and will continue.
• https://www.usinflationcalculator.com/

One thousand nine hundred thirteen consumers could have dinner at Johnny's Place in Salt Lake City. Ten cents would buy dinner, including meat, vegetables, bread, and tea or coffee. The average worker earned between $200 and $400 annually, 55 cents to $1.10 per day. A professional high-level accountant may earn $2,000 per year or $5.48 per day.

The official US Consumer Price is an inflation calculation in use. If we calculate the average inflation rate from 1913 until 2016, we get 3.22%. In some decades, inflation was much more significant; in others, it was less. Prices doubled every 20 years. Note that ten decades represents five times doubling. $10.00 doubled five times would mean 10 X 2=20 X 5=100. This calculation assumes a fixed and static value, not compounded or cumulative.

However, we have a cumulative effect and a compounding cumulative effect. Inflation works similarly to compound interest, which can multiply your savings and investment income over many years. The real compound cumulative inflation rate from 1913 to 2024 is 3086%. You would now have to spend $3086 for the same basket of goods and services that could be purchased for $1.00 in 1913.

The Dodd-Frank Act was approved in 2010 under the Obama administration, creating a protection racket for large banks. The bill states that deposit accounts, including checking and savings, are expressly subordinated to derivative participants who may experience losses in a market collapse.

A derivative is a contract between two or more parties that derives its price from fluctuations in the underlying assets. Common underlying assets in derivative bets relate to fluctuating stocks, bonds, commodities, currencies, interest rates, and market indexes. The regulated banking system has risks associated with 247 trillion counter-party bets in the derivatives market by these banks through Wall Street, including hedging interest rates and depositor accounts held in the U.S. banking system. These counterparty bets carry the most significant risk exposure for a total loss or the potential of a long-delayed or deferred recovery.

The Greatest Heist, Ten Times Larger, Is Occurring Daily:

The hidden heist is sixfold.

1) Financialization

2) Injection of fiat currency into the system

3) manipulation of interest rates

4) Derivatives contracts, hedging bets

5) The Dodd-Frank Act of 2010 is a protection racket for players who engage in all the above

6) Dumping losses on the taxpayers for government excess spending and potential economic collapse. Therein lies the overview of the rigged system, pitting the top 1% against the bottom 99%.

Financialization is using financial markets, institutions, and the elite to gain power and influence over the economy and the people. Financialization creates winners and losers, income equality, and economic risks and insulates the elites from failure because they can rely on a bailout.

• The heist is twofold. Number one is the systematic forced reduction in interest rates. The government can finance the debt, significant corporations can borrow, and consumer debt appears lower. Stock buybacks are funded with super-low interest rates. Borrower at 3%, and your stock goes up at 10-15%, you look like a genius. Corporations use highly leveraged financial repression to enhance yields.
• I'm wondering what expense? Saving rates are at an all-time low, wages are static, and prices rise by 15% annually. The above group receives 90% of the benefits, and everyday taxpayers receive 10%.
• The wealth transferred from the pockets of the taxpayers and savors into the pockets of the elites is more than 50 trillion dollars. There has never been a recorded redistribution like this. Middle-class taxpayers will become surfs. The elites will pay large bonuses and take a well-deserved month off vacation in the Hamptons.

The Federal Reserve solved the 2008 economic meltdown by creating $29 trillion in new money through fiat and using that money to bail out the banks. However, that strategy may no longer be effective or practical.

In 2007, approximately 600 trillion dollars of derivatives contracts were outstanding worldwide. Many central banks became insolvent, as did Lehman Brothers and American International Group (AIG), the leading international insurance corporation that insures against losses on derivative contracts.

Today, there are estimated to be $714 trillion in derivatives (counterparty bets) worldwide; most are highly leveraged and interest rate-sensitive. To put this in perspective, the world's GDP is $88 trillion. Assuming a 10% profit margin, this would reflect $8.8 trillion in profit from which to extract taxes.

The five too-big-to-fail ( TBTF ) banks account for 42% of all outstanding loans in the United States. The six most significant banks have 67% of all outstanding bank assets. They also collectively hold around $190 trillion in Derivative notational values. JPMorgan Chase, Goldman Sachs, Citibank, and Bank of America hold the largest amounts.

The risk in the derivatives market is concentrated in the U.S. In 2011, four U.S. banks held 95.9% of U.S. derivatives.  Depositors maintaining accounts with U.S. banks are subordinated to the risks presented by derivatives under the Dodd-Frank Act. Should derivative contracts default, no government insurance exists, i.e., the government's full faith does not back derivatives, nor does the FDIC Insurance safety-net insure derivatives. In effect, the Dodd-Frank Act has shifted the ultimate risk for derivatives losses, resulting in significant profits for the banking industry. This will go down as the mother of all financial heists in the history of the world.

After a systemic financial meltdown, you may receive a congratulatory letter that states Dodd-Frank does not allow you to keep your money.  But never fear; you will receive stock certificates in an otherwise bankrupt entity to replace the hard-earned cash you have now lost. The oligarch bankers win by taking a massive risk, and if they lose, the financial losses are dumped on the backs of the American taxpayers. The phrase money is safe in the bank no longer applies.

I will never understand why the public readily watches mainstream news propaganda, believes the garbage, and willingly votes for the establishment agenda, which always screws themselves. I guess people get the kind of government they deserve, which is correct. The new administration may or may not do better because the new incoming president is a capitalist developer and, by some estimation, a leverage king who benefits from the current rigged system.