Think the Fed’s QE1 and QE2 will cause hyper-inflation? I did, until I read Jeffrey Rogers Hummel’s recent paper “Ben Bernanke Versus Milton Friedman”. Bernanke is simply shuffling paper around to bail out his bankster buddies and he is doing it without increasing the money supply – despite popular belief.
As impressive as that is, there is a severe downside. The Fed-manufactured crises of 2008 has literally made them the economy’s central planners. Here is an excerpt from Hummel’s paper:
Under the old central planning—which performed so poorly in the Soviet Union, Communist China, and other command economies—the government attempted to manage production and the supply of goods and services. Under the new central planning, the Fed attempts to manage the financial system and the supply and allocation of credit.
But now with Bernanke, the central planning aspect of central banking has become far more encompassing. As George Selgin put it in an interview, “the Fed . . . has morphed into a central planning agency with a corporate welfare department.”
Posted in abuse of power/corruption, Federal Reserve, fiat currency, government regulation | Tagged Bernanke, fascism, inflation | 4 Comments »
Only one reporter had the balls to challenge the banksters and his name was Mark Pittman. He mysteriously died at the age of 52 after winning a Federal Court case against government secrecy.
Twenty months after the Federal Court’s ruling, Geithner mocks the judge and the rule of law by providing basically nothing:
They were so heavily redacted that most of what’s left are everyday messages such as “Did you just try to call me?” and “Monday will be a busy day!”
None of the documents answers Pittman’s request for “records sufficient to show the names of the relevant securities” or the dates and terms of the guarantees.
This is all happening under the Obama regime, the one that campaigned on more transparency and “open government”.
Posted in abuse of power/corruption, censorship, cover-up, Federal Reserve, government regulation, politics | Tagged Bloomberg, Geithner, Mark Pittman, murder | Leave a Comment »
Ayn Rand on black/white vs gray area:
PLAYBOY: In Atlas Shrugged you wrote, “There are two sides to every issue. One side is right and the other is wrong, but the middle is always evil.” Isn’t this a rather black-and-white set of values?
RAND: It most certainly is. I most emphatically advocate a black-and-white view of the world. Let us define this. What is meant by the expression “black and white”? It means good and evil. Before you can identify anything as gray, as middle of the road, you have to know what is black and what is white, because gray is merely a mixture of the two. And when you have established that one alternative is good and the other is evil, there is no justification for the choice of a mixture. There is no justification ever for choosing any part of what you know to be evil.
When you chose the lesser of two evils, you still get evil.
Posted in ideology | Tagged Atlas Shrugged, Ayn Rand, objectivism, philosophy | 3 Comments »