Bernanke keeps flooding the money market
December 2, 2008 · By Charles Anthony
When the price of the US dollar is approaching zero, the Federal Reserve Chairman, Ben Bernanke reveals a bitter truth about the futility of monetary policy:
The U.S. economy “will probably remain weak for a time,†even if the credit crisis eases, Bernanke said yesterday in his speech. While the Fed can’t push interest rates below zero, “the second arrow in the Federal Reserve’s quiver — the provision of liquidity — remains effective,†he said.
Maybe eventually — after the Fed prolongs the recession and fuels malinvestments — more Americans will wake up to the fact that inflating the money supply is not about stimulating the economy nor about helping the public. It is all about giving new money to the banks first. In Canada, monetary inflation goes unnoticed or without debate.
“Get out of the US dollar before it is too late!
July 16, 2008 · By Charles Anthony
Anybody who wants to preserve any savings they may have should get out of the US dollar. Buy gold or silver instead.”
Price of gold per troy oz then: $950
“Bernanke keeps flooding the money market
December 2, 2008 · By Charles Anthony
When the price of the US dollar is approaching zero…”
Price of gold per troy oz now: $780
Mr. C,
The price of the US dollar is the interest rate. The Fed is currently pushing it down to zero.
Good lord Charles we are finally in agreement!!!!
http://www.lewrockwell.com/rothbard/frb.html