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.
The data is all here, we just need to work together to field it properly. This kind of information needs to be published more often and eventually this will become a maintain stream discussion.