Breeze, I agree accept I think Bernake knows what he is doing. He is finishing what Greenspan started. The gutting of America and subsequent collapse of the dollar caused by a final pump and dump scheme a la the “housing bubble”..
It’s all theater folks. Politicians are sycophantic patsies promised riches. The world is preparing to launch new currencies and dollars days are numbered.
from Mish’s blog:
This could be the end of the USD. Bernanke is not doing what he is doing without knowledge of world opinion. This has been in the works for some time, and the Fed is all about getting as much wealth in the banker barons hands as possible, before the USD crashes. He is obviously not looking out for the interests of the US citizen. I wonder where Paulson is now keeping his hundreds of millions. Read the following, because here it comes:
LUXEMBOURG (Reuters) – A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.
Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.
“It is a good moment to move to a shared reserve currency,” he said.
