Bernanke: Greenback’s New Father (New York Times)
Bernanke: Greenback’s New Father
By FLOYD NORRIS
Six months after the financial world seemed to be coming to an end, the world’s economies appear to be recovering. Banks that seemed to be on the brink of failure less than a year ago are now able to pay back investments made by the Treasury.
It is too early to declare victory, but the world looks much safer than it did only a few months ago. Credit markets are recovering, to the point that the junk bond market will have its best year ever if it manages not to lose any money over the rest of 2009. The stock market has just finished its best six months since 1938.
If victory is to be had, it will owe a lot to the willingness of American policy makers to set aside cherished policies and simply create money. And that is one reason it is appropriate to pause and celebrate an unheralded bicentennial: The father of the greenback, Elbridge Gerry Spaulding, who was born 200 years ago, in 1809.
http://www.nytimes.com/2009/09/04/business/economy/04norris....
Whore-Greenbacks new Pimp!
Fiat currency is the whore of money. Bernanke is the syphlitic pimp infecting the ignorant with her.
helicopter
ben ben ben....
the author of the article doesn't look at the lives lost during the civil war. maybe the father of fiat currency should be remembered for the lives lost during the civil war.
cliftforcongress.com
randpaul2010.com
schiffforsenate.com
kokeshforcongress.com
I pledge, do you?
FAT still reigns
FAT still reigns supreme..
What about the skinny..
Good people do Good deeds
and are no respecter of person
When I was a kid
in the eighties, 1/2 gallon of ice cream cost $2.50. Now, a less than half gallon costs $6 (I prefer Breyers!). What they fail to mention is who wins and who loses when inflation occurs. Surely the poor folks living in tent villages across the country have a different story to tell about how well our money is being managed by the Fed, while banker CEOs rake in profits after near collapse?
It's just like the official history texts;
all focus is on the powerful, the people are just flotsam in the tides of the elites wars and economic battles for the plunder.