Central banks run amok. David Stockman warns a coup d'etat

As the gap between the rich and the poor is the widest for the last 30 years, it still continues to grow.

David Stockman, the US businessman and politician who served as the Director of the Office of Management and Budget under President Ronald Reagan warns of a tremendous crisis that is down the road.

The huge wealth disparity is "not because of some flaw in capitalism, or Reagan tax cuts, or even the greed of Wall Street; the problem is central banks that are out of control." Simply put, they have "syphoned financial resources into pure gambling" and the people that own the stocks and bonds get the huge financial windfall.

"The 10% at the top own 85% of the financial assets," and thus, thanks to the unleashing of almost limitless money-printing, which has created a massive worldwide financial inflation, "the central banks have created and exaggerated the wealth gap." Stockman concludes, rather ominously, "it's a coup d'etat, the central banks have taken over - unconstitutional domination of the entire economy."

Read article in Russian on the Russian version of Pravda.Ru