“The crisis from which we are now suffering is also the outcome of a credit expansion. The present crisis is the unavoidable sequel to a boom. Such a crisis necessarily follows every boom generated by the attempt to reduce the ‘natural rate of interest.’” - Analyst X
Do you have a troubled friend or relative whose misguided attempts to solve their problems only make the situation worse? As human beings, it is hard to see our own short-comings. But to ever truly solve our problems, we must strive to understand them.
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There is also more content: Paul Volcker's 2005 piece predicting the crash, what is the Fed is really doing, why it's time to rethink the Greenspan doctrine, and much, much more!
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I'm FED UP! Are you?
Please visit us at FakeBen.com to help stop the Fed!
94% of our participants said Ben Bernanke will absolutely get a highly paid job at JPMorgan upon leaving the Fed. Only 3% said no, because Bernanke has principles. And only 3% said no, because JPMorgan has principles.
95% of our participants also said the Fed has gone too far. Only 3% said the Fed is doing the right amount. And 3% said the Fed is not doing enough.
I have been a longtime critic of the Fed, but the latest moves by the Fed are beyond even my most cynical estimations.
Bear Stearns was one of the most aggressive banks in facilitating the excessive lending that helped create the mortgage mess. This mortgage mess is impoverishing millions of Americans and affecting us all through a lower dollar and higher gasoline prices.
Our recent poll at fakeben.com shows that 65% of you believe the Fed will act before their next meeting on January 30th. Please visit to participate in more polls.
The poll result is consistent with the futures traded on the CBOT. December futures indicate a good chance of a rate drop BEFORE the end of the year. January futures also indicate the chance of a rate drop before the next Fed meeting. February futures indicate near certainty the Fed will lower another 25 bps at the January meeting.
Thanks to all those who participated in the FakeBen.com poll on the Fed's Dec. 11 action.
Obviously Ron Paul supporters showed up, because 21% of respondents said the Fed would "Do the Responsible Thing and Return to the Gold Standard." Unfortunately, that did not happen.
However, 47% of respondents said the Fed would lower 25 basis points, which they did. 26% guessed the Fed would lower 50 basis points, and 7% said they would hold rates.
Please vote on our latest poll: whether the Fed will take action before their January 30th meeting.
This is why Ron Paul needs to be elected ASAP:
All the Way Down the Rabbit Hole?
by Fake Ben
This is the Fake Ben Bernanke writing. I've started a journal to express in private what I could never express in public, namely that the dollar and stock market are at real risk and the policy of lower interest rates might be misguided. I'm starting to think Ron Paul might be right after all!
Here is an article from thinkinvest.blogspot.com about how the Fed helped created the mess we're in. This is why we need Ron Paul for President. He is the ONLY candidate talking about the issue of money supply and a Fed that has run amuck!
Why look for complexity when there is simplicity?
In a recent piece by Robert Rodriguez of First Pacific Advisors, LLC, you will see facts - simple facts about how simple what happened is.
I just checked ABC News' online poll and it had 24,000 of the 27,000 votes cast for Paul.
You could argue that there is someone fixing the result, but whatever the case, it's clear that Dr. Ron Paul is the ONLY candidate generating excitement among young people.
I watched the debate last night with the Meet Up group in New York City, and you could feel the excitement. Watching the debate it was clear to me that: