Economic Meltdown: IMF Involvement?

For a great many regular hard-working, tax-paying American citizens the way money works in the modern world is very much a mystery. This is not surprising, considering that money has always been a mystery shrouded in mythical associations, psychological phobias and religious overtones. And designed to be thus by those who do know how money works. When the US Federal Reserve was established in 1913, it was not actually made a National Bank under the control of the government, it was established by and for the wealthiest bankers and Wall Street barons as an independent entity with only ceremonial ties to the federal government.

In a critique of the ancient psychological “money complex” in his book Life Against Death, Norman O. Brown explored the debt-guilt association in the essay Filthy Lucre. Brown wrote, “Whatever the ultimate explanation of guilt may be, we put forward the hypothesis that the whole money complex is rooted in the psychology of guilt.”

So perhaps it should come as no surprise that a development in late June of 2008 that rocked the American financial world went largely unreported in this country. It appeared in an article of Spiegel Online on June 26, 2008, entitled The Shrinking Influence of the US Federal Reserve.

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