Wednesday, March 21, 2012

"A gold standard wouldn't solve any problems ..."

(Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday took aim at proponents of the gold standard, saying that such a system handicaps the government's ability to address economic conditions.

Yes, exactly ... that's one thing it does for sure ... it keeps you gd idiots from screwing around so much with the economy and inflation.  THAT'S RIGHT, I SAID "IDIOTS."

Bernanke spoke in the first of a series of four public lectures at George Washington University that is the central bank's latest effort to counter a raft of negative public sentiment that has arisen from its handling of the financial crisis. The former Princeton economics professor delivers a second lecture on Thursday and two more next week.

Princeton economics professor ... oh really?  Well, he's much smarter that the framers of our constitution because those morons actually had the audacity to write in the constitution that “[No State shall] make any Thing but gold and silver Coin a Tender in Payment of Debts;“ ...

Now why would they feel compelled to do that, heh?  I'll tell you why, because they knew there would be morons like this from their time until Christ comes back ... that's why they wrote that ... to prevent you and morons like you from making mischief in the money supply.

Notice they didn't actually prohibit paper money ... their intent was to prohibit the government from making "money" that was not backed by precious metals ... i.e. fake/fiat money.

Some Fed critics argue that the central bank's ultra-easy monetary stance - it has held overnight interest rates near zero since late-2008 and has bought $2.3 trillion in bonds - is paving the way for future inflation.

Oh really?  "Some" argue this?  Only "some?"  

How long do "others" say we can keep buying our own debt like this?  Forever?  Because when they have to finally stop, it's going to hurt ... bad.

"Since the gold standard determines the money supply, there is not much scope for the central bank to use monetary policy to stabilize the economy," Bernanke said. "Under a gold standard, typically the money supply goes up and interest rates go down in a period of strong economic activity - so that's the reverse of what a central bank would normally do today."

Yes, the reverse.  Sounds very familiar.  You libs are always telling us the "reverse" of the truth.

"The gold standard wouldn't help."

"Drilling for more oil wouldn't help."

It's a good thing we have our intellectual betters telling us what to think ... otherwise we would be so easily fooled.

1 comment:

Anonymous said...

they are sending us down the shitter ever so slightly, (I mean quickly but slightly sounds cooler)

Post a Comment