Ben Bernanke gave a speech — a very important speech at the National Economist Club in Washington, DC.
The speech was given on 11/21/02.
Currently, the Federal Reserve is monetizing its debt. It owns $3 Trillion of its own debt; China holds the rest.
Bernanke said he would do 5 things:
1) I will not restrict money supply and will lower interest rates to zero.
2) I will buy securities from the banks to expand the federal balance sheets (FEDS nationalizing corporations)
3) I will increase the money supply (Helicopter Ben)
4) I will buy the country’s debt via QE1, QE2, QE3, etc.
5) Debasing the currency to $0.00 is the goal.
Bernanke is playing out a hyperinflationary depression for America.
Note that China and Japan made a pact to cease using USD for trade. Also know that Bernanke just sent $600 billion to Europe. They’re going to DEVALUE THE DOLLAR by 40%.
Your money will be worth 40% less than it is worth now. Your $40,000 a year job will then pay you the buying power of a $26,000 a year job.