On 11 Mar, 07:47, Jerry Kraus <jkraus_1...@[EMAIL PROTECTED]
> wrote:
> http://biz.yahoo.com/ap/080311/fed_credit_crisis.html
>
> In his infinite wisdom, and in an effort to tem****arily prop up the
> collapsing Stock Market, that "Moron at the Fed", Ben Bernanke, has
> decided to print money like it's going out of style, and hand over 200
> billion dollars to the Banks based on nothing whatsoever in the real
> world, as we know it. =A0 While this is tem****arily -- very tem****arily
> -- pleasing investors, its effects will obviously be disasterous for
> the economy as a whole. =A0While it will tem****arily -- very tem****arily
> -- hold off the final and total collapse of the U.S. banking system,
> it will, as a direct result, cause the final and total collapse of the
> U.S. currency, as well. =A0Ah, well, there's no pleasing the right wing
> until everything is TOTALLY DESTROYED!!!!
the federal reserve...
"...by design, is not controlled by the President or the U.S.
Treasury; it is primarily controlled and owned by its member banks and
the chairman of the Federal Reserve"
http://en.wikipedia.org/wiki/Great_Depression
so you can be sure the fed will bail out its member banks at any cost.
this part of the article is also interesting
"the key cause of the Depression was the expansion of the money supply
in the 1920s that lead to an unsustainable credit driven boom. In
their view, the Federal Reserve, which was created in 1913, shoulders
much of the blame." - hayek and rothbard
sound familiar?
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