Saturday, March 21, 2009

Trillions from space aliens: Obama and Congress look to outer reaches of galaxy to help the Fed monetize the Milky Way

Headline: Fed to pump another $1 trillion into U.S. economy "Saying that the recession continues to deepen, the U.S. Federal Reserve announced Wednesday that it would pump an extra $1 trillion into the economy by buying mortgage-backed securities and long-term Treasury issues."

From where does this additional trillion come from? My money is on space aliens, because there is no government on planet earth that has anymore money to throw into the hell-hole known as international banking. Since the breakdown of Bretton Woods under Nixon, money, as authorized by the Constitution, has ceased to be.

From whom can we borrow when it becomes obvious to everyone that we have a debt that can NEVER be repaid? According to the Fed, it's not a problem. Sure. Why borrow when you can print? Monetize the debt and pay it back with inflated paper. Sound reasonable to you? I just held a Zimbabwe "One Trillion Dollar" note yesterday. That currency has collapsed.

"Higher prices are the result of inflation, not its cause."

Of course, the inevitable result of Federal Reserve hyperinflation is flight from the U.S. fiat dollar. That's when your loaf of bread is bought with a wheelbarrow full of paper. How dumb do you have to be to be an economist?

The delusional descendants of John Maynard Keynes refuse to grow up. Instead, they smoke the never-ending supply of Federal Reserve Notes in the hopes of re-inflating the economic bubble devoid of oxygen, especially because the "pump" is manufactured by fractional reserve banking. Here is a reasonable suggestion from Ron Paul:

"HR1207, dubbed the Federal Reserve Transparency Act of 2009, will give the Comptroller General of the United States authority to audit the Federal Reserve."

Support it only if you want to see how deep the monetary rabbit-hole goes. For those of you who don't, there's always Prozac. Lord knows what you'll use to pay for it when the world flees the Federal Reserve Note dollar...

1 comment:

Michael J. Bernard said...

hyperinflation on Weimar scales is on the way thanks to Helicopter Ben!


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