New Possible Fed Chief, Yellen, Is Totally Stupid About Credit Bubbles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

My blog,  2007:  Money Matters: The New 5 Year Boom/Crash Cycle

And another From my blog, 2007:  Money Matters: Temptations Torment US Leaders And Regulators

 

A Jewish woman from Brooklyn, Ms. Janet Yellen, is probably going to be the next Bernanke and already has promised to extend ZIRP lending to rich bankers so they don’t have to use real capital resources for making loans.  This is their power machine.  Greenspan and Bernanke deliberately degraded the value of capital by making loans to bankers at near zero interest.  This, in turn, has created one noxious bubble after another and guess what?

GREENSPAN TRIES TO EVADE RESPONSIBILITY AGAIN

EASY READING CULTURE OF LIFE NEWS:  GREENSPAN TRIES TO EVADE RESPONSIBILITY AGAIN « Culture of Life News 2

Greenspan just won’t shut up.  Thank goodness.  This is because he is getting a tad senile and is actually blurting out the truth occasionally in between his usual blather and lying.  Again, he admits that he and his fellow members of the Wizard’s Guild are practicing magic.  Then claims, he can’t see ahead at all.  Japan is going into a major depression….again.  And the AIG bonus boys are quitting out of naked fear.  And to top it all, our dear warmonger in chief was ordered by AIPAC to DOUBLE war spending in Afghanistan and Iraq and to fight EVEN MORE.  So we are going to spend over $4 billion a month, chasing angry mountaineers who hate foreign devil invaders.  We all know how this story will end.  History laughs at us.

GREENSPAN TELLS MORE LIES AND MAKES MORE EXCUSES

 

EASY READING CULTURE OF LIFE NEWS:  GREENSPAN TELLS MORE LIES AND MAKES MORE EXCUSES « Culture of Life News 2

That old fraud, Greenspan, is now running around the planet, lying about nearly everything. As if this is a change in his standard operations.  His latest attempt at trying to undo or deflect critics who noticed that he destroyed the world’s economies, is to deny he had anything to do with the housing bubble.  Instead, he blames it all on a ‘savings glut’.  This was the magical time when our trade rivals held US dollars so their own currencies would be weaker.  This, in turn, allowed us to borrow merrily and no one encouraged this frenzy of borrowing more than that old crook, Greenspan.

FREE TRADE, NOT GOLD TRADE, IS CORE DEFLATION PROBLEM

CLICK HERE LARGE PRINT EDITION:  FREE TRADE, NOT GOLD TRADE, IS CORE DEFLATION PROBLEM « Culture of Life News 2

One of the major features of the internet is how strange ideas can take root and spread.  I don’t need to point out some of the more obvious examples.  We argue about it all the time here.  Another area that seems to attract a lot of very strange thinking is the ‘gold’ community.  Gold used to be standardized by governments using it as a basis for valuing paper currencies.  We know for certain that when the gold standard is dropped, inflation takes root.

 

The alternate side of all this is that the gold standard creates long depressions.  This is the whole ‘damned if you do/damned if you don’t’ problem of banking systems since the dawn of banking anything, ie: since the Great Pyramids and the founding of the ancient city of Ur.  Societies fluctuate when it comes to using gold as a basis for finances.

THREE STUPID GENIUSES: GREENSPAN, RUBIN and SUMMERS

Mr. Krugman is halfway smart: he is an economist who understands some of the dangers of the Floating Currency. But he doesn’t go after ‘free trade’ or he would lose his perch at the NYT, I guess. But yesterday, he took off after the ‘Three Musketeers’: Greenspan, Rubin & Summers. This is because the dumb trio pretended to be too stupefied to foresee the very obvious housing and buy-up bubbles. In his editorial, Mr. Krugman mentions a very interesting Time Magazine article from 1999.

 

It is important for us to read this old article. It is full of information about the Asian Currency Crisis that tells us exactly why Greenspan, Rubin and Summers should all be kept far, far away from any monetary policy making positions and Greenspan, arrested for fraud and reckless endangerment of an economy.

 

CLICK HERE LARGE PRINT EDITION: THREE STUPID GENIUSES: GREENSPAN, RUBIN & SUMMERS « Culture of Life News 2