"A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank." - Ron Paul
I wonder what goes through Ben Bernanke's mind as he sits in his gold plated boardroom in the majestic Marriner Eccles building in Washington D.C. and decides to screw grandmothers in order to further enrich Wall Street bankers. He just pledged to keep interest rates at zero percent for two more years. Ben is a supposedly book smart man. Does he have no guilt or shame for what he has wrought? How does he sleep at night knowing he has created bloody revolutions around the globe due to his inflationary zero interest policy? People are dying because he has decided that an elite group of Wall Street bankers who recklessly brought down the worldwide financial system in 2008 deserve to be kept alive and enriched at the expense of the many.
He uses words like transitory to describe inflation. Even as the price of gold reveals his lies, he continues to promote policies that will lead to the demise of the USD and our economic system. There is only one way to counter his lies -- truth. With a corporate fascist government run by the few for the benefit of the few, telling the truth is treason as stated by Ron Paul:
"Truth is treason in the empire of lies."
The storyline being sold to you by Bernanke, his Wall Street masters, and their captured puppets in Washington DC is that deflation is the great bogeyman they must slay. They make these statements from their ivory, jewel-encrusted towers as the real people in the real world deal with reality. The reality since Ben Bernanke announced his QE2 policy in August 2010 is:
*Unleaded gas prices are up 45%.
*Heating oil prices are up 46%.
*Corn prices are up 71%.
*Soybean prices are up 26%.
*Rice prices are up 13%.
*Pork prices are up 31%.
*Beef prices are up 25%.
*Coffee prices are up 38%.
*Sugar prices are up 48%.
*Cotton prices are up 13%.
|James Quinn is a senior director of strategic planning for a major university.
James has held financial positions with a retailer, homebuilder and university in his 22-year career. Those positions included treasurer, controller, and head of (more...)
|The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.|