Posted on 11/07/2010 2:32:50 PM PST by Al B.
As President Obama prepares for the G20 summit in South Korea this week, Sarah Palin is challenging the Federal Reserve’s monetary policy, which will likely be a key issue at the talks. On Monday, in a keynote address at a trade-association convention in Phoenix, Palin will urge Fed chairman Ben Bernanke to “cease and desist” his “pump priming.” The United States, she says, “shouldn’t be playing around with inflation.”
I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.
The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.
And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?
All this pump priming will come at a serious price.
(Excerpt) Read more at nationalreview.com ...
She confuses me with her facts. I wish she’d be nice. I think she’s mean. < /typical Democrat>
BTTT
/s :)
Meanwhile, the Fed is enjoying a weekend at Jekyll Island praising themselves for the great job they have done in the past 100 years.
http://www.frbatlanta.org/news/conferences/10jekyll_agenda2.cfm
It’s these damned extremists demanding constitutionally limited government. /sarc
Extremism in the defense of Liberty is no vice. ~~BG
Tea Party like there’s no tomorrow!! ~~Unk
Here’s to higher highs and deeper debts!!
Best image of the day!!
For those paying attention (or not) she's getting serious.
GO SARAH!
Phil Dragoo - pefect thread for your grate photo/grpahic of the two, yes?
Quantitatively ease Bernanke and his plunderers into jail cells. Eliminate the FED. Eliminate all anti-freedom collectives plunging us, our kids, our grandkids into mandated debt slavery.
(If we can just get her to run!) we Iowan's will get the first chance, at our Straw Poll sometime about August! First chance to thin the herd of wannabees Then we get first chance to knock down the stubborn *abees the subsequent February. Don't expect her to officially enter the race until sometime after her TLC series ends 9 weeks from now.
Ha ha!
Sarah’s got the fire built. Time to grab some feet and hold them there till they yell, “Uncle!”.
Palin, the Conservative watchdog/pitbull.
I hope not. Both of those blog sites are worse than worthless for people who don't know much about finance, and sources of astonishment for those who do.
To be fair, each occasionally does pick up on something interesting, but it's rare indeed.
Conquering the Spirit of Debt This amazing sermon given in Sept 2003 by Pastor Rod Parsley at Breakthrough Church in Columbus Ohio details the story of how Paul Warburg, John D. Rockefeller, and J.P. Morgan met with Senator Aldridge at a conference in Jekyll Island to create the Federal Reserve Banking System in America circa 1913. Most people hear about the “national debt” but few ask what it means or who we owe. This was the best quality video I could get, but I hope this gets the message through. Search words: IRS gold silver rothschild interest usury bank notes fiat currency economy budget deficit surplus cashflow money bills conspiracy coinage stock market scam new world order illuminati occult shorting
http://video.google.com/videoplay?docid=3051024550497129264#
Would be funny if she managed to upstage Barry’s SOTU with her announcement.
Has Paul Ktugmans head exploded yet?
She is ahead of everyone else!
While he’s spending $2 billion of our money on his useless trip to India (vacation) she’s making the news (again).
HAR!
Would be cool if the GOP chose their latest VP nominee to give their official response to SOTU. Most popular guess for when she enters the ring is on Reagan’s birthday.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.