Posted on 11/14/2013 9:39:54 PM PST by JustTheTruth
"What needs to be confronted is the scandal of Federal Reserve independence. Where in the Constitution does it say that monetary policy is supposed — or permitted — to be independent of politics? If the Founders of America had wanted the monetary power to be given to a body independent of politics, they could have given it to the Army or the Navy or the Supreme Court. But they sat down in Philadelphia and gave the power to “coin money and regulate the value thereof and of foreign coin” to, in the Congress, the single most political institution in the entire constitutional system."
(Excerpt) Read more at nysun.com ...
Dang! Hate auto correct!
Hellen = Yellen!!!
Anybody watch the Janet Yellin dog & pony show in the Senate today?
Auuuugggh!
She used the term “Price/Equity Ratio” to justify her Keynesian belief that the Fed “Quantitative Easement” is NOT causing some sort of stock market bubble.
Duh! She clearly doesn’t know jack about the stock market. She showed her woeful ignorance in stock market terminology by citing a non-existent term for something she doesn’t understand. The correct term is “Price/Earnings” ratio and PE Ratios are commonly used to determine if the markets are overvalued.
The concept of “price/equity” ratios is already covered by such terms like “price-to-book” ratios!
The problem the Berkeley so-called “economist” doesn’t understand is that were it not for the EZ-money policies of the Fed, the STOCK MARKET WOULD BE MUCH LOWER TODAY. Period.
As Peter Schiff said:
“I had my money on the assumption that Obama would pick Yellin... That was because I expect Obama will choose the WORST one of the possible candidates. And Obama didn’t disappoint...”
Wow... Schiff nailed it.
In the Senate hearing, all the Elizabeth Warrens and Chump Shumers of the world were gushing all over her. That alone should tell us that Yellin will be a disaster for the US economy.
We’re doomed!
can we slim this down further or are we for 2 b squashed by this in fat you ess ness
The _only_ weapon which can and is destroying USA and thereby the modern world.
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