Fed’s Blind Eye Destroying the Dollar
Here’s a financial headline that ought to give you a good belly laugh. Bernanke: Fed will keep eye on sliding dollar.
Give me a break. Bernanke and the Fed show absolutely no sign they even see correct economic theory. In fact, the correct headline is “Fed’s blind eye destroying the dollar.”
Here’s something else Bernanke said “We are attentive to the implications of changes in the value of the dollar.” I certainly hope you know how to interpret that statement. He actually means we are economic quacks who believe an economic recovery requires us to utterly destroy the dollar. Can you imagine hiring a baby sitter to watch your precious young child, who was as attentive to him or her as Bernanke and the Fed is to the dollar? You would be lucky if the kid didn’t drown in the bathtub or if the baby sitter didn’t physically abuse your cherished son or daughter.
In 1913, special interests created the Federal Reserve System. Supporters of its creation claimed that the Fed’s monopoly of the dollar would result in its stabilization. Now that’s what you call a super-duper lie. My God, the dollar has lost more than 95% of its value since the spawning of this engine of monetary mayhem—and the acceleration of its demise is occurring at a breakneck speed.
Bernanke also made it clear that he is dedicated to keeping interest rates near 0%. I explained the insanity of artificially low interest rates in my article U.S. Treasury Secretary Geithner Tells The Big Lie.
Do you wonder why Stock Market investors seem impervious to the fact that our fragile economy is unable to create jobs—in fact it’s shedding them at a frightening pace? Here’s another headline from today’s financial news. Stocks at 2009 Highs as Retail Sales Rebounds. If you understand sound economic reasoning, you’ll definitely be able to read between the lines of this article.
Let’s face it. Our so-called “jobless recovery is a fraud perpetrated by the political and financial establishment in collusion with the Fed. As long as the crooked and avaricious members of the establishment continue to benefit from easy money schemes and bailout swindles, they will continue to claim a recovery colorfully displays itself on the horizon—even if its obvious the distant sky is dark and foreboding.
According to legend, Marie Antoinette said “Let them eat cake” which was in response to a shortage of bread. (Actually it appears we can attribute the quote to Marie-Thérèse, the wife of Louis XIV.) She seems quite generous when compared to the charlatans and crooks who attempt to run our economy into the ground. These mountebanks actually expect us to eat the words that fly of their forked tongues. Cake is obviously too good for us peasants. If they have their way, we soon may become disarmed, hungry peasants. Their evil goal is to control our health (ObamaCare), to disarm us with gun control laws and to completely eliminate any knowledge or reference to the Bill of Rights and the Constitution.
We must accept the fact that the demise of the dollar is inevitable. Sure, current deflationary forces of the marketplace might temporarily result in its value rising against gold and other currencies. But make no mistake about it—at some unknown time in the not too distant future the dollar will suffer the same fate of all paper currencies that governments throughout history have debauched with their stupid, greedy easy money scams.
Robert A. Meyer
The Libertarian Way