How The Elites Betrayed Working-Class America

Tyler Durden's picture

Authored by Bill Bonner via,

Win-win deals get people more of what they want. Win-lose deals – usually imposed by government – bring them less. The few (the insiders) use government to exploit the many (the rest of us).

Win-lose deals also depress economic progress for everybody. Partly, this happens for an obvious reason.

Dropping the atom bomb on Hiroshima was a technical milestone, but not the kind of progress we’re talking about. Progress only makes sense if it means that people are able to get more of what they want.

By definition, when a person is forced into a bad deal, he gets less of what he wants.

Progress is also a learning process. You try something. You see what works and what doesn’t. As people experiment in this way, they learn… and the economy accumulates knowledge and wealth.

They learn to get to work in the morning, for example… to say please and thank you… to save their money… and to invest it wisely.

Win-lose deals interrupt the learning process. That’s why welfare programs fail: People get money without learning.

Temptation to Cheat

That is the real reason the Soviet Union failed, too.

Consumers were forced to buy whatever shoddy products were made available to them; producers had no way to learn how to make good ones.

Toward the end, products available for purchase in the Soviet Union were worth less than the raw materials and labor that went into them.

What do you need for win-win deals?

Three things:

1) People must be free to make choices with their time and money.


2) They must have money they can trust.


3) They must trust each other to respect their rights and property.

These things don’t happen smoothly and without interruption.

Progress is cyclical. Win-win deals add wealth and move society forward. But they depend on trust. And as trust increases, so does the temptation to cheat. When everyone leaves his liquor cabinet open, for example, who can resist having a drink?

Then trust declines. Barriers go up. Costs increase. Win-win gives way to win-lose. Progress goes into reverse.

Money You Could Trust

The invention of real money – based on gold – gave a boost to win-win deals… and to progress.


It was money you could trust.

If you are paid a gold coin for a day’s labor, you don’t have to trust the person who pays you. You don’t have to wonder if he has the money in his account to cover his check… or what will happen to his money in the future.

You don’t have to trust him; you put your trust in gold. This allows you to do transactions more freely – and speeds up economic progress.

Gold-backed dollars were trustworthy for nearly 200 years (setting aside Lincoln’s phony “greenbacks”).

People became so confident in the integrity of the dollar that they hardly noticed when the gold backing was removed (on March 19, 1968, when President Johnson signed a bill eliminating the “gold cover” for Federal Reserve notes).

But that’s the way it works: The more trusting people become, the easier it is to rip them off.

Set Up by the Elite

Of course, as trust expands and win-win deals proliferate, some people gain more than others.

The typical Chinese day laborer makes six times as much today as he did in 1999. The typical American day laborer has gained little.

And job competition from overseas made him feel like a loser. Now he wants walls – to keep out foreigners and foreign-made products. He wants win-lose deals that guarantee to make him a winner again.

He has no idea that he was set up by his own elite.

Former Fed chiefs Ben Bernanke and Alan Greenspan got their pictures on the cover of Time magazine. Most people think they are heroes, not rascals. Most people think they saved the economy from another Great Depression by dropping interest rates and injecting it with trillions of dollars in quantitative easing (QE) money.

Most people – even the POTUS – believe we need more fake money to “prime the pump” and get the economy rolling again.

Almost no one realizes it, but it was these stimulating, pump-priming, new credit-based dollars that fueled the trends that ruined America’s working-class wage earner.

Overseas, his competitors used cheap credit to gain market share and take away his job. At home, the elite imposed their crony boondoggles… their regulations… and their win-lose deals – all financed with fake money.

The average American’s medical care now costs him more than seven times more than it did in 1980. His household debt rose nearly 12 times since 1980.

Subtle “Bezzle”

He blamed the Chinese, the Mexicans, the liberals… the media… and the government.

He wanted change.

But who would have guessed that he had been ripped off by his own untrustworthy money?

After you account for inflation, the American worker has not had a significant raise in 40 years – almost since the new money system was put into place after 1971.

But the rich – as measured by the inflation-adjusted Dow – are 10 times richer.

Who would have imagined that after 3,000 years, the elite would have come up with money that betrayed his trust… a “bezzle” so subtle that he didn’t even notice?

*  *  *

Recently we’ve been wondering if it’s possible that America could be on the brink of a second civil war. We did some digging… and while the stuff we found may offend and shock you… We recommend you take a look anyway by clicking here.

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TeamDepends's picture

Everything "the elite" does betrays the working class.

Scrimpy's picture

Elites = Fed Jews and their buddies

Nostradumbass's picture

Overwhelming evidence of the veracity of this statement exists for anyone to examine. 

Here is a start:


You get the idea...


jimmy c korn's picture

"How The Elites Betrayed Working-Class America":

With the Federal Reserve & the IRS

cheka's picture

free trade bitchez

perot was right

Troy Ounce's picture


It all started on August 15th, 1971.


ultraticum's picture

The Decline and Fall of America - Table of Contents:

1 Jul 1862       Establishment of the IRS

3 Feb 1913      Ratification of 16th Amendment (Income Tax)

23 Dec 1913    Federal Reserve Act signed by Woodrow Wilson

5 Apr 1933      FDR's Executive Order 6102 outlaws gold bullion ownership for US citizens

23 Jul 1965     LBJ's Coinage Act of 1965 removes silver from coinage

24 Jun 1967    Public Law #90-29 - Phases out silver backing of the silver certificate

15 Aug 1971    Nixon abandons Bretton Woods, and "temporarily" suspends dollar convertibility into gold


Ajax-1's picture

Of course Perot was right. Too bad he surrendered when the Elte threatened him to give up his political aspirations.

Pumpkin's picture

Elites = Fed Jews and their buddies


AKA synagogue of SatanAmazing so many miss this.

besnook's picture

the main reason i don't do business with jews unless i have to is they think taking advantage of trust is just business and i don't do business with people i can't trust.

SmedleyButlersGhost's picture

If possible, I would leave a beer in the barrel for you in your local.

any_mouse's picture

If you are going to worship MG Smedley Butler, check this out:

Nostradumbass's picture

Read this instead of today's headlines which are designed to keep you a Happy Goy!

Ajax-1's picture

Smedley was one of the finest Marine Corps Devil Dogs of all time. God rest his soul.

SWRichmond's picture

Most people – even the POTUS – believe we need more fake money to “prime the pump” and get the economy rolling again.

I don't think they really believe that.  I think they know that Fedbucks credit-money-things are a mechanism for looting the productive class.  I do not believe, however, they have any idea how fucking pissed off we are.  I don't believe they have any idea how their prog street-armies have galvanized us.  I don't believe they think we know who the enemy actually are, and on whom we will vent our wrath when the time comes.  Hint: it ain't the cops, or the prog street-army morons.

Captain Chlamydia's picture

1000 +


****  I do not believe, however, they have any idea how fucking pissed off we are.  I don't believe they have any idea how their prog street-armies have galvanized us.  I don't believe they think we know who the enemy actually are, and on whom we will vent our wrath when the time comes. ****

meditate_vigorously's picture

If Hollywood movies are any indicator, the Jews are drunk - no shitface plastered - on wealth and power right now. Goyim knowing is increasing at an exponential rate.

Sonny Brakes's picture

They've got us by the balls. Doing anything about it would require everyone to stop participating in the economy. I don;t think that's going to happen. Who's going to stop paying their taxes? Who's going to stop using their credit cards? The state has us, you know it and I know it. We don't like it, but that's how chess is played when you play against a computer.

Final Authority's picture

It would help tremendously if Americans would learn what is actually being taxed and throw off the yoke of ignorance. There is no need to divorce yourself from the economy. Just learn the law, apply your knowledge and file your informed return. Go here: Then scroll down to the bit about "Subversion" and read it at least 3 times. To free yourself you must free your mind.

Stuck on Zero's picture

If the people who actually produce things go on strike rule by the elite will end instantly. If the citizenry cashes in every form of FRN and prchases gold rule by the elite will end instantly. No. We are not powerless.

SWRichmond's picture

If someone turns off electrical power to the cities rule by the elite will end immediately.  Such an event would be the signal for most of them to take their private jets to New Zealand or whatever other socialist paradise they think they can lord their money over, as the cities would quickly become kill zones and there's not a goddamned thing anyone could do about it.  There aren't enough police, and the troops are all overseas.  And that fucking idiot Hank Paulson doesn't have enough tanks to put in the streets.  It's an empty threat.

The elite will self-segregate themselves, descending on some foreign country like the locusts they are.  Good riddance.  Then we can drop flyers on Syria and Somalia telling those people to go to New Zealand for free shit, and charter ships to pick them up and take them there.  ZHers know freight rates are cheap right now.

See?  This is simple.  The elite have used the poor against us, and now we can use the poor against them.  The elite have used homicidal immigrants against us, and now we should use homicidal immigrants against them.  Leverage works both ways.

lasvegaspersona's picture

I wonder what a G V  sitting on the runway at Christ Church, out of fuel with none available, might go for. Hopefully they are not counting on their porfolios.

SWRichmond's picture

They've got us by the balls.

We surround them.

Doing anything about it would require everyone to stop participating in the economy.

That's not true at all, though that is one way to resolve the problem.

I don;t think that's going to happen.

People are waking up.

Who's going to stop paying their taxes? Who's going to stop using their credit cards?

Can you imagine a time when those things don't matter?  I can.

The state has us, you know it and I know it. We don't like it, but that's how chess is played when you play against a computer.

I know no such thing.  I know they think they have us.  I also know they are scared shitless.  And well they should be.  The maps of Trumpland versus Clinton Archipelago make their situation very plain to everyone.  It is in fact we who have them by the balls, and it is time to start squeezing.  All of their economic power is phony.  All of their "legal" power is voluntary compliance.  Imagine a Clinton Archipelago where the people in Trumpland not only stopped cooperating but started resisting.

Can you imagine such a thing?  I can.

Sonny Brakes's picture

If only we had a Michael Corleone to take care of business.

ElTerco's picture

Well, there is the old saying, "You pretend to pay me, and I'll pretend to work." Productivity can still fall a few notches without anyone getting fired.

GreatUncle's picture

Truth now ... economically if you have to print ... YOU ARE FUCKED ECONOMICALLY!

We are passed let pretend to create money or hide it so the population cannot see.

This is in youre face, CTRL-P and fuck the population.

If money dies they have no power and that is the problem they have.

SWRichmond's picture

If money dies they have no power and that is the problem they have.

Exactly correct sir.

GUS100CORRINA's picture

Observation: While I agree with the premise that the elites have betrayed the working class, I want to suggest another group that has also betrayed the working class. That group is broadly known as the legislative leaders of both the US and State governments.  

The names of individuals belonging to both groups should be on the WALL OF SHAME!!!!

GreatUncle's picture

It is what they are just the working class needs to wake the fuck up.



The elite and working class have always been at war, the elites only have one challenge as they always have.

Their only game is how to destroy the constitution, that arbiterer of peace bewteen two warring factions.

Go on tell people they are slaves and have no rights and watch the balloon go up.

Then we get French Revolution style population control.

Sonny Brakes's picture

And the working class played along knowing full well that they were being duped. Got to support the team.

silverer's picture

Money creation without productivity is a truly inspiring phenomenon.

GRDguy's picture

They're not "elite," they're sociopaths.  

They lie and steal without empathy nor conscience.

People running independent businesses are not usually sociopaths.

But top executives of major corporations usually are.

Deep Snorkeler's picture

Americans know well enough what is happening to them.

The middle class sinks while the world is made safe for little fat men.

The hyper-acquisitive billionares have hogged it all, and 

Trump has never been touched by common humanity.

GreatUncle's picture

The middle class believe they will be saved because ...


Priceless idiots ..

Father ¢hristmas's picture

The middle class is an historical anomaly borne from the aftermath of World War 2.

So basically, 60,000,000 serfs had to die horrible deaths so their children, relatives, and friends could become overprivileged shitbirds for about forty or fifty years.  

And now it's back to slaver-- errr, I mean, feudali-- fuck, I mean, America and the world face many challenges in this new political and economic climate but we will stand stronger together.


SWRichmond's picture

The middle class is an historical anomaly borne from the aftermath of World War 2.

It doesn't have to be that way.  If we weren't supporting the African population explosion, and if the great majority of produced wealth (driven by constant productivity enhancements) weren't being siphoned off by a few criminals, we could be raising standards of living globally.

junkyard dog's picture

William, stop... just stop. This is about gold. One, just one, of the situations that create the problems of the working class is named 'nepotism'. Nepotism is the sister of sexual harassment in the work place. Blackmail and graft are the cousins. I buy gold and have since 2009. Absolutely not one of my friends or co-workers can make change for a $10.00 gold coin used to buy what they are selling to survive. The chances of making a fortune in gold has the same probabilities of success as growing food in a bomb shelter.

Here is how the deal will go down. I offer 400 rounds of S&W 40 cal. ammo for 20 pounds of potatoes and 9 chickens. Gold has no dog in this hunt. Take it from a dog.

Stormtrooper's picture

I've got the 20 pound of potatoes but I don't have 9 chickens to trade.  Would you take these three old pair of shoes instead?  Or how about a shovel and a rake?  Pretty damn inconvenient forms of money, eh?

How about we agree that these coins of silver have value, along with millions of other citizens who also agree, set a value against S&W 40 cal, potatoes and chickens, and then use it as a common exchange?  Makes life a little simpler, eh?  And, you know the next guy will take your silver when you need something else.


junkyard dog's picture

I would take your three old shoes and shovel and rake. Then I would trade them for a blanket and an electric cord. The point is, he person who takes the shovel and rake knows someone who needs one but has no gold or silver.

Chhelo's picture

Ammo is the new gold standard.

AKKadian's picture

It really is not betrayal, it's theft and the government is helping them do it. F both of them. The time is coming.!!!

SillySalesmanQuestion's picture

The conclusion I have finally reached, is that the "dumbed down, duped progs," will never wake up from the la-la land, school play, they have been lullabied to sleep with.
Meanwhile, most of us here are ready to openly revolt against our "masters." The only question that remains is, what will be the spark, that will light the fire, to burn down the proverbial house...?

ah-ooog-ah's picture

no debt

no control