I guess he doesn't like raising interest rates. Maybe that's why he loves the Fed so much now. He probably doesn't understand that artificially low interest rates devalue the currency at the printing press, thereby delivering more of the wealth to the rich from the humble coffers of the poor and middle class. It discourages saving while encouraging mal-investment on a large scale. It hurts retirees on social security, who don't receive cost of living increases to keep up with inflation, and it stifles those who have saved for retirement by offering them less of a return than the free market might offer. Further, it creates such violent economic displacement that allowing correction is feared even by the masses that would benefit after the virus was allowed to run its course.
The correction will come. It is a natural and unavoidable consequence. Yet, Bernanke wants to put it off seemingly indefinitely and stands ready to compound the problem by waiting anxiously to be further mired in the European insolvency crisis.
So after the global economy collapses, do you suspect the same people that led the charge off the cliff will be the first to be rewarded with whatever new fiat system the elite try to impose on the world next?
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