I hope Bill Murray will forgive me for using his famous line. I just couldn't help myself this morning. Watching Ben Bernanke and Congressmen Ron Paul this morning, reminded me so much of Jane Curtain and Bill Murray on the set of Saturday Night Live, Bill sitting there with a look of contempt on his face, Jane in puzzled wonder as she sits across from Bill Murray spewing dribble, and Bill just staring at her as if to scream are you serious with this ? Jane you ignorant slut.
Ben Bernanke as the Chairman of the Federal Reserve was asked a direct question from Congressman Paul yesterday, he was asked by Congressman Paul if he thought gold was money. There was a slight pause to his answer, and then he replied ..... NO. And there it is folks, thousands of years of history, Empires created, and destroyed, Society's that have imploded thru out history, and Ben Bernanke is apparently ignorant to all of this, and of course in his infinite wisdom, creating paper off of a printing press, and distributing that paper is the answer to all of our ills, even though it was pointed out to Mr. Bernanke that with the aggregate amount of the " Injection of Liquidity " that QE 1 and 2 that has been supplied into the economy totals to around $ 17,000 per person in this Country our economy is still in a malaise ( to put it mildly ) and the Federal Reserve Chairman is ready and willing to add more to the economy if needed. I just got to ask this again....... Ben are you serious ?
I guess I don't want to be to hard on Ben, after all he is in a tough spot, He was nominated by the very people who want to spend the money he prints. He is in a position to tell the United States Congress, and the world for that matter, that printing all this money is okay. Don't worry fellas I got your back, is the stand he is paid to take. In Atlas Shrugged James Taggert spent his whole life evading the truth, Ben Bernanke is a paid puppet whose destiny is to tell the political class that he is there to keep the fiat train a runnin,......... there is just one glitch in all this. A Congressman from Texas, who is shinning the light of truth on the Federal Reserve and just how much of a farce it is.
Our founders were keenly aware of the dangers of fiat, or paper money which is why specie was important to them as a currency for the United States. Hayek was kind in this matter, in fact he felt that if all you had were wash machines to put in reserve, that would be fine, the point is if you want a stable currency, one that has objective, predictable value, there needs to be a tangible asset in reserve for that currency. What Ben is giving us is paper that is printed at will. I wish Ron would have had more time with the Chairman, I am sure that he would have detailed more about inflation. You see Ron understands that not including fuel and food because they are volatile in the core inflation rate is like having a pool with no water in it. Fuel and food are the core of survival. Oh and by the way, if your currency has no value, the cost of both will increase. Ben apparently doesn't want us to recognise that. But as the good Congressman pointed out, ask any wife in America if inflation over the last few years has only been one or two percent.There would be a completely different point of view on that.
Our money is our Liberty, and if the Central Bank can take away the value of our work, then the Central Bank is taking away our liberty. Folks I encourage you to do all that you can to understand the dangers in that. Especially if you want to live in a world of liberty.
For further reading on this please follow these links:
No comments:
Post a Comment