The corruption of modern central banking

It is time that the inherent corruption of our modern central banking becomes public knowledge for our own sakes. I certainly would not want this fascist crony-capitalism poison to be secret nor to go unnoticed by my neighbors. The leaders are printing money and giving it to their friends before it cycles through the economy to cause price inflation:

“The bottom line is that senior-level people in Washington, in the name of keeping in touch with their stakeholders, are tipping their hands,” says Adam Zagorin, a senior fellow at the Project on Government Oversight, a Washington watchdog group. “You can’t prosecute them for insider trading if they didn’t trade the shares. You may not be able to even reprimand them. What the hell are the rules?”

An official such as Paulson has no legal obligation to keep material nonpublic information to himself, says Phillip Kaplan, partner for litigation at Manatt Phelps & Phillips LLP, where he specializes in securities and class-action cases.

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Morgan Stanley and BlackRock Inc. both helped the Federal Reserve and OCC prepare the reports on Fannie Mae and Freddie Mac that Paulson told the New York Times would instill confidence the morning of the Eton Park meeting.

This is not coming from a gossip tabloid.

Bernanke’s strategy: Print And Pray

The continued ad hoc inflationary American monetary policy is becoming more and more pathetic:

However, he said only time would tell how successful the exercise was.

‘We hope that in two or three years we will be able to reflect on the banking system’s return to health with a sharply diminished reliance on government capital,’ Bernanke said.

Ben Bernanke may as well say: “Shucks, guys. We really have no idea what we are doing so we are just going to keep on printing money until…. well, until things turn around, I guess.”

Bernanke keeps flooding the money market

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.