{"id":23947,"date":"2017-05-13T19:37:40","date_gmt":"2017-05-14T00:37:40","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23947"},"modified":"2017-05-13T19:37:40","modified_gmt":"2017-05-14T00:37:40","slug":"how-to-stick-it-to-your-banker-the-federal-reserve-and-the-whole-doggone-fiat-money-system","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23947","title":{"rendered":"How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System"},"content":{"rendered":"
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How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System <\/a><\/h3>\n<\/div>\n
Bernanke Redux<\/strong><\/div>\n
\n

Somehow, former Federal Reserve Chairman Ben Bernanke found time from his busy hedge fund advisory duties last week to tell his ex-employer how to do its job.\u00a0 Namely, he recommended to his former cohorts at the Fed how much they should reduce the Fed\u2019s balance sheet by.\u00a0 In other words, he told them how to go about cleaning up his mess.<\/p>\n

\"\"Praise the Lord! The Hero is back to tell us what to do! Why, oh why have you ever left, oh greatest central planner of all time. We are not worthy<\/a>.<\/p>\n

We couldn\u2019t recall the last time we\u2019d seen or heard from Bernanke.\u00a0 But soon it all came back to us.\u00a0 There he was, in the flesh, babbling on\u00a0Bloomberg<\/a>\u00a0and\u00a0Squawk Box<\/a>, pushing the new paperback version of his mis-titled memoir \u201cThe Courage to Act<\/em>.\u201d\u00a0 Incidentally, the last time we\u2019d heard much out of the guy was when the hard copy was released in late 2015.<\/p>\n

With respect to the Fed\u2019s balance sheet, Bernanke remarked that the Fed should cut it from $4.5 trillion to \u201csomething in the vicinity of $2.3 to $2.8 trillion.\u201d\u00a0 What exactly this would achieve Bernanke didn\u2019t say.\u00a0 As far as we can tell, a balance sheet of $2.8 trillion would still be about 300 percent higher than it was prior to the 2008 financial crisis.<\/p>\n

Bernanke, by all measures, is an absolute lunatic.\u00a0 He, more than anyone else, is responsible for the utter mess that radical monetary policies have made of the U.S. economy.\u00a0 He\u2019s the one who dropped the federal funds rate to near zero and inflated the Federal Reserve\u2019s balance sheet by over 450 percent.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System Bernanke Redux Somehow, former Federal Reserve Chairman Ben Bernanke found time from his busy hedge fund advisory duties last week to tell his ex-employer how to do its job.\u00a0 Namely, he recommended to his former cohorts at the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,68,124,303,11763,647,3650],"class_list":["post-23947","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-ben-bernanke","tag-central-banks","tag-fed","tag-mn-gordon","tag-precious-metals","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23947"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23947\/revisions"}],"predecessor-version":[{"id":23948,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23947\/revisions\/23948"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}