Posted on 11/03/2010 12:25:02 AM PDT by Scanian
There's one good thing that'll come out of the Federal Reserve's likely decision tomorrow to create more money so it can continue sham purchases of government debt.
It's this: if Washington continues to monetize our country's liabilities in this way, we will no longer need the Bureau of Printing and Engraving -- a considerable cost savings.
Yep, keep this up and US dollars will soon be supplied by Charmin.
And this has worked pretty damn well. In fact, assets coming into the dollar from around the world have made the US economy the strongest, most resilient one ever on this planet.
But this may be changing.
If you print too many dollars -- or worse, create money electronically while keeping the amount secret -- our currency will no longer be a haven.
You may have also noticed that there are elections taking place today. The end result, say people who know this stuff better than I, will likely be a Republican majority in at least one house of Congress.
Republicans are as much to blame for the current economic mess as the Democrats.
But the ascent of Republicans could, and should, make the people who've been crafting economic decisions decidedly nervous.
(Excerpt) Read more at nypost.com ...
“...the Federal Reserve’s likely decision tomorrow to create more money so it can continue sham purchases of government debt.”
The Polish people have a saying that should be the theme of the Federal Reserve: “pissing in the soup”.
You end up with more soup but it is inedible.
Bernanke needs to be removed from office!
You said a mouthful!
There needs to be a public groundswell aimed at getting rid of him.
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