There are two stages to understanding this situation. The first is sufficient and convincing. The second is more obscure and ostensibly sensitive to challenge, but important.
The first is the private central banking class and system, and the manipulation of political dialectics over the past two hundred years at least. The second is the suppression of alternate energy technology and consequent abundance by that class.
To understand the first, begin by considering Usury. Usury was universally shunned before the modern age, and regarded as a form of slavery. But both all mainstream and Austrian economic theorists today vouch for it. The Salamancan school of Jesuit economic theorists (no, this isn't a Jesuits run the world narrative) began challenging traditional stances on Usury before Adam Smith.
Usury funnels wealth upwards. From the 90% to the 10%. The 10% to the 1%. The 1% to the 0.1%. And so on.
Usury exists on the gold standard, as advocated for by Austrian theorists, and in modern mainstream central banking. It exists in neoliberal Reaganism and Thatcherism, and it exists in the most far left Western governments.
The Federal Reserve is a privately owned central bank. It is not true that the owners of the Fed own central banks globally. Many countries have publicly owned private central banks (independent from the government, but in a sense owned by them). The point is that they remain controlled. For insight into how this works, take the example of the Bank of Japan. The film Princes of the Yen (watch it) demonstrates how an entire advanced economy, full of intelligent people, was raised up and crashed over decades for the purpose of pursuing the agenda of one banking institution with strong international connections.
Private central banks such as those in the US create massive and unresolvable debt at the basis of the financial system. The balance sheet is the issue here. Money comes into existence with debt. There is no such thing as balancing the budget. It is mathematically impossible. This creates a constant black-hole of money at the source of the economy, which has to be filled by government taxes paid to banks. These taxes are levied by more pressure on the populous: more time and energy has to be expended to gain more credits to feed into the black hole. It can never be filled. All that can happen is that more and more material and human wealth can over time be represented as money and fed into the hole, until the system collapses. Before collapse, this motivates expansionism, emerging any market that can be emerged, and translation of all possible wealth into money. For the people, this will be experienced as part of the race to get ahead and get individually established.
Austrian economic theorists point out many of the scams and financial games which a private central banking system involves. But they focus on the root of this being that the money isn't 'real'. If it isn't 'real', that means it can be manipulated. Big government and crazy socialists manipulate this created-out-of-nothing conceptual forgery, preventing the business cycle and the market from showing the true value of economic sectors and the reality of the country's finances. What a scam! Right?
(example of a full analysis of the Fed from this position. The 'not real! Buy Gold! FREEDOM! part comes at the end:
https://www.youtube.com/watch?v=iFDe5kUUyT0)
Actually, no. Gold is well-liked by the private central banking class. It was pushed for as a replacement to the far more troublesome Greenbacks (government printed, non-private, fiat currency). The people of the United States were subjected to great hardship as currency was removed from circulation to implement the Gold standard. And, more importantly, a Gold Standard is both easy to manipulate and excellent for defending the interests of the same people who are beneficiaries of the debt and usury in a private central banking system.
How? Well, firstly pegging all currency to Gold limits the circulation of currency, so that inflation and central alterations can't reduce the debts of common people over time. Secondly, this limited circulation (not enough money to go around) motivates people to take out loans for their needs, and the burden of the debt on these loans constantly increases, so that you end up with the same black-hole of energy where people are struggling to give all they can to the owners just to stay afloat.
So people have the 'freedom' of choosing what economic activity they engage in. But, functionally, the strain distributed over society acts to enslave people's energies. It's obscure, and people can be made to blame their own success of failure, so it's immensely more sophisticated than classical slavery. This applies to all the systems discussed so far.
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