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Ron Paul Echo - Pimco's Gross Skewers Bernanke: "You're Part of the Problem"


"Perhaps, in addition to a fiscally confused Washington, it's your policies that may be now part of the problem rather than the solution," Gross said in comments directed at Bernanke.

"Perhaps the beating heart is pumping anemic, even destructively leukemic blood through the system," he added. "Perhaps zero-bound interest rates and quantitative easing programs are becoming as much of the problem as the solution."

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I've just about convinced

I've just about convinced myself that Bernanke isn't just a misguided academic, but a truly evil bastard. He's wicked smart, so he's gotta know that his policies are repressing average guys who are just trying to put aside a few bucks for retirement, or forcing those already retired into risk assets in search of some kind of yield. All for pushing up asset prices, all for fooling folks into thinking they're more wealthy than the are so they'll spend more and boost the economy. The vaunted wealth effect, a psychological gimmick.

It remains to be seen what happens when the Fed pulls the plug, assuming they do at some point. If asset prices fall as far as they should, the ruined lives will be too numerous to count.

Watch Bernanke exit the Fed before the plug is pulled so that those who don't understand what he's done will not blame him for the outcome. That's exactly what an evil shit would do, and I'll bet that's exactly what the he does.

I must be willing to give up what I am in order to become what I will be. Albert Einstein