J. S. Kim

Bernanke Being Rewarded for Failure

Rewarding Bernanke for failure only makes sense after rewarding all of Wall Street and big banks for failure. We wouldn't want to break the pattern now would we? (sarcasm noted) Now that the Fed, under Bernanke's wach, has begun monetizing US Treasury debt surreptitiously, and is attempting to cover their tracks through a possible Agencies for Treasuries swap program, I agree with Mr. Schiff that things will likely implode under Bernanke's watch unless he resigns.

According to Chris Martenson, the debt monetization, inflationary creating money-out-of-thin air game, may be accomplished with the following mechanism -

#1: Foreign central banks sell agency debt out of the custody account.

#2: The Federal Reserve buys those agency bonds with money created out of thin air.

#3: Foreign central banks use that very same money to buy Treasuries at the next government auction.

The time was ripe to boot Helicopter Ben out of his position but Ben can only hope now that he can replicate Greenspan's model of pushing things to the brink of disaster until he can get out of dodge and then blame the "free markets" for the disaster when it unfolds and he's safely retired somewhere, receiving his kickbacks and handouts in retirement from the financial oligarchs he bailed out.

It's time to audit and shutdown the Federal Reserve and Helicopter Ben before Ben shuts down America.
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