Wednesday, April 27, Federal Reserve Chairman, Helicopter Ben Bernanke, will hold the unconstitutional, private banking cartel's first ever press conference, in an attempt to put lipstick on the inflation pig he's created using a monetary scheme called, "Quantitative Easing", or "QE".
Quantitative Easing is an Orweillan term basically meaning printing money (or in this case, the electronic version thereof) to buy our own debt (bonds). I know, it's hard to wrap your head around. You have to think a little bit like Bernie Madoff to understand it. Of course, calling it quantitative easing, or QE, sounds so much more sophisticated, strategic, mysterious, and indecipherable that it results in virtually no push back from the public. So far.
Never before in U.S. history, going back to the Federal Reserve's creation, has this monetary "tool" been used to the extreme it is being used now. Not to worry though, attempting to print your way to prosperity has been used in other countries (see: hyperinflation, Weimar Republic and Zimbabwe).
You cannot print excess dollars without causing inflation. As more money is printed, existing dollars become worth less, and when it's done to this degree, worthless. Hence, we see the dollar crashing and prices of almost all commodities, not just oil, soaring around the world. Of course, the government stats tell us that there is no inflation. Don't believe it. John Williams from
Shadowstats.com has calculated that if inflation was calculated the way the government used to do it, before they manipulated it to show a deceptively lower number, inflation would now be 9.6%.
Bernanke himself said that inflation was "too low", and that a goal of QE1 (the first round) and QE2 (the second round of cash infusion that was "necessary" because the first one worked so well). If you eat or use energy, I know you'll agree that it's safe to say that he's getting his wish.
Cross Posted on:
Red County