8 votes

Bernanke’s Excuse for Mass Looting

An excerpt from the article.

"Putting all of this together, we can see that what Bernanke has done is fundamentally changed the function of banks and the role of the Federal Reserve.

In seeking to save the banks, he has essentially nationalized them, disabling their lending function relative to the past and turning the Fed from being a clearinghouse to being a holding tank for newly created money. This is why he can stand up there at press conferences and so confidently claim that inflation represents no great threat right now."

http://www.moneymorning.com.au/20121222/bernankes-excuse-for...



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SteveMT's picture

Bump for a great read.

Bernanke has changed banking forever. The sooner this fiat system blows up, the better. Bernanke needs to be in a small, cold, jail cell.

Here's another bump

Gonna show this to my neighbor, since he's just waking up to the Fed. Maybe I should get him a copy of TCFJI as a stocking stuffer, heh.

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