Antal Fekete's Open Letter To Ron Paul: "Impeach Bernanke"

We have had massive inflation over the last 50 years. Inflation is what the Fed does.

If you were a the shareholders in a private banking system... you liked to see housing payments take 50% of americans earning too.

Can you imagine the brilliance of the plan. A millions americans... - once the wealthiest in the world working their asses off to service interest only loans on their houses and govt taxes.

You have slave drones thinking they are free. And you did this all with the illusion of money.
 
US Plan of Action:

1) Remove entire Federal Reserve Board and install a hawk Chairman with the caveat to turn US monetary policy around or face eradication of the Federal Reserve. Raise rates.

2) Break up and liquidate the TBTF banks , so this scam can be ended once and for all, as low interest rates are the only thing propping them up. Wall st. will get the message.

3) Once the sleeping clowns in DC see no more counterfeiting money, then serious budget busting can begin, starting with DC.

4) Slowly restore confidence with the above measures.
 
Quote from jem:

We have had massive inflation over the last 50 years. Inflation is what the Fed does.

If you were a the shareholders in a private banking system... you liked to see housing payments take 50% of americans earning too.

Can you imagine the brilliance of the plan. A millions americans... - once the wealthiest in the world working their asses off to service interest only loans on their houses and govt taxes.

You have slave drones thinking they are free. And you did this all with the illusion of money.
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When did America really begin to prosper?
 
When we started industrializing in the north... and then later
after the rest of the world economies were destroyed by WWII
 
Quote from olias:

that's weak. Let's talk specifics or don't waste our time
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why dont YOU tell us what he's doing right so we can laugh or dont waste OUR time.

the guy is a bankster, and cares about putting money in the hands of banks. end of story. thats why he's pomo'ing until the cows come home, and the pds are flipping bonds back to the fed making outrageous commissions. additionally, there's no risk because of the spread between what they can get cash at and what they can lend it out at. And if they fail, no worries, benny is there with more funds.
 
Quote from Tsing Tao:

why dont YOU tell us what he's doing right so we can laugh or dont waste OUR time.

the guy is a bankster, and cares about putting money in the hands of banks. end of story. thats why he's pomo'ing until the cows come home, and the pds are flipping bonds back to the fed making outrageous commissions. additionally, there's no risk because of the spread between what they can get cash at and what they can lend it out at. And if they fail, no worries, benny is there with more funds.
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Yes but thats not banana bens money.
 
Quote from olias:

It's a topic for much debate, and I don't have the time or inclination to debate it much. I don't expect to change anyone's mind; at least those that are here on Elite Trader. It seems like everyone reads the same blogs that want to oversimplify and come across like they are smarter than the Fed Chairman. Most of them have something to sell. Yes, QE and QE2 are a risk to inflation, but too many clowns jump on the price of gas and food and say 'SEE, SEE! What did I tell you?! That's Bernanke's fault!' Give me a break.

I'm a fair man. Maybe QE2 will create a bubble or two, and it might fuel more inflation than we want, but it was done for a reason. And those reasons are sound. At least, I think they are sound. I don't blame the Fed for wanting to do something about the weak economy and high unemployment. Problem is, the critics can't even acknowledge that there was any justification for it. So they are either stupid or just insincere. I tend to think they are insincere. They just want to sound like they know something so they can sell their service, their newsletter, etc.

Here's a guy with a fair take I think. Read it and get a little different perspective :

"Forget $3.50 Gasoline, Ben Bernanke Is Still Right On Inflation
Joe Weisenthal | Feb. 28, 2011, 11:56 AM |

With gasoline at $3.50, it's easy to be surprised by Ben Bernanke's seeming nonchalance regarding inflation, as is our Henry Blodget.

But sneering at Bernanke's seeming inflation-blindness -- which is something we hear every single day on CNBC and from other markets -- isn't going to do much good.

There's no indication that the rise in energy and food prices are associated with monetary policy.

Food prices in many instances are closely connected to weather and other events, including the Russian wheat fires, the drought in China, and the floods in Australia and Brazil. What's more, food inflation in the US isn't very dramatic. Yes, the global commodity hike is not ideal for food vendors, but very little is trickling through to the end user. See more here on that.

As for gas prices, the first thing to note is that global oil prices are pretty obviously tied to the strength of the global market.

Here's a look at oil prices vs. US economic leading indicators. It seems pretty clear what's driving oil. It's not monetary policy.

(check the link for the chart)

Here's the thing: The Fed HAS acknowledged the rise in commodity prices, and the threat that poses to the economy. The last Fed minutes they were acknowledged.

But what the Fed should be looking at is measures that are under the influence of monetary policy. Tightening money isn't going to do anything about food prices -- in fact, it could make the problem worse if access to farm loans become more expensive, and the same goes for energy exploration.

Areas that might be affected by the Fed -- housing, wages, etc. -- clearly remain pretty subdued.

Read more: http://www.businessinsider.com/forg...still-right-on-inflation-2011-2#ixzz1Ir6VDOnu
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The central banks is simply sowing the seeds of the next collapse, I'm sure we can all agree on that.
 
Quote from olias:

I'll give you this, it's a bit like playing with fire. Everyone knows the risks and it can't go on indefinitely....maybe not even much longer. I don't know. But I think Bernanke has a better idea than I have.

it's almost like me criticizing the way a surgeon went about his operation. ...like he used to much sedative...and I'm gonna sit over here and say 'hey, too much sedative can be dangerous!' But, clearly he knows that. He obviously has more expertise than I have.
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Doctors goose you up with drugs so they can get their trip to the bahamas paid for by big pharma. perhaps not the best example. :D
 
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