Yearning For Feudalism
1. Fact: Modern “Progressives” barely know there is such a thing as ‘Monetary Policy’ and they have no idea what it is or how it works.
2. Fact: The overwhelming majority of wealth transfers to the rich occur via monetary policy – about $15 trillion in net wealth transferred from the bottom 93% to the top 7% during the Obama years.
3. Fact: Modern “Progressives” constantly and even violently argue for policies that are simply wealth transfers to the very rich with a facade of compassion placed around it – the reason why is #1 on this post.
4. Fact: Long time Progressives such as Charles Hugh Smith, who actually understand monetary policy, point out that modern ‘Progressives’ are yearning for, fighting for and demanding a 21st century version of feudalism without the first clue that this is what they are actually doing. As a result Progressives that indeed understand monetary policy are shunned, belittled and attacked – for merely pointing out the fact that modern ‘Progressives’ are yearning for, fighting for and demanding a 21st century version of feudalism because of #1 on this post.
This is not pejorative – just facts. That modern “Progressives” have adopted a cultural motif that anyone who does not agree with them is evil and to be disregarded and the enemy makes it almost impossible for them to come to realize the truth of #1.
Hence – they will continue to argue, even engaging in violence, for continued massive wealth transfers to the 1% while sincerely believing that they are doing just the opposite.