Posted on 07/01/2009 8:10:19 PM PDT by h20skier66
"Just how can the Fed credibly promise to be irresponsible...?"
HERE'S A THOUGHT - that tiny handful of investors and analysts warning how Fed policy risks hyper-inflation are in fact doing the central bank's work.
The Fed wants you to believe hyperinflation is looming. Or at least, it should want that, if doubling its balance-sheet - purchasing and lending against investment junk - is going to work the wonders that modern central-bank theory says it can. And the Fed certainly wants you to believe it will stop at nothing to avoid deflation ("whatever means necessary" as the chairman put it back in 2002).
So anyone touting the hyperinflation risk in public is playing the shill, a decoy - seemingly unconnected - proclaiming the miracle powers of Dr.Ben Bernanke's snake oil to CNBC anchors at every chance.
In fact, they're doing the Fed's work better than the Federal Reserve itself. Really.
Hear Ye! Hear Ye! Hear Ye!
FReeper Convention Ticket Drawing!!
All NEW monthlies of $10 or more submitted by July 31 that include the words “FReeper Convention Ticket Drawing” in the comment section will be included in a drawing for a Freeper Convention ticket!! The winner can use the ticket for himself or give it away to another FReeper!!
Hope to see you in DC!!
45 posted on Wednesday, July 01, 2009 12:41:31 PM by Jim Robinson (Follow me on Twitter: http://twitter.com/jimrobfr)
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