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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 ...
First you say "it was a permanent addition to the base money supply" without even looking at M1 or its components, and now you want me to prove TARP got paid back without causing hyperinflation.
OK fine, I could dig out TARP records or show you price data but this 'proof' talk is bogus --you're not saying what it is you want for proof becuase you're ready to reject anything and everything.
fuhgedabadit
She’d get a boost if there’s just enough of a Ron Paul streak in her to attract his supporters (but not enough to repel everyone else).
Most people like Ron Paul’s economic views. It is Ron Paul’s foreign policy and social issues that make him a non starter as Presidential candidate
So Palin following Paul’s economic thought should be positive for her.
berneckie needs to go...fed too much power...they need to be shutdown...just a shield for the big bankers...big bankers are in with both parties and govt...we the people are nothing but sheeples...and are being totally screwed!!!!!!!!!!!
OK you just proved that you don’t know what you’re talking about. You think QE1 is TARP. LOL.
Yeah, forget about it.
Agreed, though abolishing the Fed might be a tad too strong a platform for 2012.
BTTT!
What she did with the power of the Governor's seat in AK was nothing short of breathtaking. I can only imagine what she could do with the Oval Ofice.
Don't let 'em catch their breath, Sarah, keep connecting with those haymakers!
8^D
Also, lets not forget Sarah wrote about the weak dollar and it’s consequences in the spring. IBD had a write-up about it and liked what it heard from Sarah.
And she will CONTINUE to make news! I swear, the LSM thinks that by keeping her in the news, people will see how "nuts" she is. I believe just the opposite happens. Keep her in the news...all day, every day until all clear thinking people get it!!
One thing we must not do ever again, never again is elect another Leo to be President.
Exactly, but you watch... the lamestream will try to hide this speech, because she’s dead-bang right!
My take is that Volker's never gotten over getting the blame for double-dipping the '82 recession with ill-timed interest hikes. It must have really got his goat the way Greenspan screwed up more but ended up being considered a knight (literally).
Now Volker get's his pay-back time by joining with Obama --now there's a pair of jokers you'd hate to draw for an inside straight...
Timing is *everything* and she has timed this one perfectly, as always.
Take back the PRINITING PRESS. Nationalize the NY FED,
Maybe, maybe not. They may try to spin it that the Fed knows best but as I said earlier, clear thinking people will listen to what SHE says and say WTH!?!?!
Of course, the LSM could always cherry pick her words and take them out of context.
I’m just gonna let Sarah be Sarah. Works for me!
Yes she has. Sarah is linking the weak dollar to oil prices again.
>>Gold on August 1 was $1182 and today it is $1395 is but one example of how QE2 affects prices.<<
Gas in our area was 2.49 to 3.09 in the same time frame.
Oooo, thanks for the heads up on that!
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