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A Federal Reserve full court press
Thursday, January 15, 2009
Gee, Federal Reserve board members must really be worried about something ... either that or they all spent the first week back after the holidays writing a speech.
Courtesy of the new and improved Econoday website (very nice, really, though it looked to be touch-and-go around the first of the year) comes the following summary of this week's speech-making.
An even 10, highlighted by Federal Reserve Chairman Ben Bernanke's gem on Tuesday as discussed in The Name of the Game is Bailout (sorry about the blurry image - had to shrink it).
4 comments:
Lacker pulled double duty. He's probably not too concerned about inflation these days as in the past.
Chairman Ben S. Bernanke, We Are on Our Way to Abolish Credit.
All of Our Economic Problems Find They Root in the Existence of Credit.
Out of the $5,000,000,000,000 given out to the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE got?
A Credit Free, Free Market Economy Is Possible.
Both Dynamic on the Short Run & Stable on the Long Run.
I Propose, Hence, to Lead for You an Exit Out of Credit:
Let me outline for you my proposed strategy:
✔ Preserve Your Belongings.
✔ The Property Title: Cast Your Vote to Abolish Credit.
✔ The Credit Free Money: The Dinar Shekel AKA The DaSh, Symbol: - .
✔ Asset Transfer: The Right Grant Operation.
✔ A Specific Application of Employment Interest and Money.
[A Tract Intended For my Fellows Economists].
If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless?
Since credit based currencies are managed by setting interest rates, on which all control has been lost, are they managed anymore?
We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.
In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.
The other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.
It will be either awfully deadly or dramatically long.
A price none of us can afford to pay.
“The current crisis can be overcome only by developing a sense of common purpose.
The alternative to a new international order is chaos.”
- Henry A. Kissinger
Let me provide you with a link to my press release for my open letter to you:
Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!
I am, Mr Chairman, Yours Sincerely,
Shalom P. Hamou AKA 'MC Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640
MC Shalom wrote:
"We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit."
What are you smoking man?
A bit short for a criticism.
There is no other short term solution.
I know that in the end people, moved by their animal spirit, will adopt that system.
When depends only on how long they can suffer:
For Mathematics People need proof.
For Religion People need belief.
For economy People need none, People need only to feel it.
Even a monkey will eventually understand economics the day he does not get his bananas.
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