Americans are mostly ignorant to the powers that control the nation. It is often said by Liberals that Obama is not singularly responsible for the horrid economic data. Well, in a way they are right. Benjamin Shalom Bernanke is really in many ways the monster behind the horrible economy. Make no mistake though Obama makes this appointment, along with a Senate vote, and Ben and Barack are playing wing-man for one another. Obama said of Bernanke when nominating him to be reinstated in 2010, “He just led the Fed through one of the worst financial crises that this nation and this world have ever faced.” However, the word “led” is past-tense. As in, everything is okay and great now- America is back. In 2009 Bernanke declared, “The worst is behind us and we are rebounding”. Well the latest CBO report says we are on track for a certain double-dip recession, mounting unemployment above 9.2% and an additional loss of over 2 million jobs all starting 3 months from now. Bernanke has all but become the new sole leader of the newest 4th branch of government, which operates solely independent from the fallacy of checks and balances. Remember, the American people do not actually own their own monetary system. Every single dollar in your wallet is essentially fake money from a private bank that operates without any checks and balances from We The People. Understand that the Federal Reserve is not (in any way what so ever) a branch of government. Our Government borrows money from the “Federal” Reserve at interest to be paid back. This means that there is no way for America to actually ever be out of debt because to pay back the debt we must borrow more money from the Federal Reserve at interest to try and pay back the debt. It’s a viscous, inescapable circle.
First, it is important to understand what Quantitative Easing is. There have been hundreds of books written on Quantitative Easing, so to keep it simple- when conventional economic measures fail (Obamanomics) the central banking system prints massive amounts of money from thin air to buy government debt to monetize the massive amounts of debt (eventually resulting is massive inflation when not resold as such was the case with Qe1/Qe2). QE only works when the central bank places the bonds back into the market and they are actually sold.
So why isn’t Qe3 actually Qe? Because there has been no limit placed on the amounts to be purchased or timetables to sell them back. Essentially, Qe1 and Qe2, “Let’s buy a bunch of bonds and see if it eases the market, then return them to the market”. Qe3, “We’ll buy them until it works and when it fails, just like it did the first two times, the resulting crash will leave a depression that will dwarf what we called the “Great” Depression. Then we will simply scratch our brow and say, “oh well” while the American people drown in an inescapable singularity of debt”. Without limits there is no need to even place a number behind Qe, nor is there even a need to call it Qe. It’s simply monetizing the debt at the greatest rates the world has ever seen.
-So Bernanke is to continue rewarding the same failed economic policies that put us in this mess in the first place.
You may find yourself screaming, “Well where are the conservatives?”- Are they not suppose to be the party of ending such madness? Well I’ll tell you where they are. They are casting their vote for Mr. Bernanke. In fact, of the 40 Senate Republicans only 18 voted to end the madness. What kind of conservative would vote to continue the same school of thought? To name a few: Bob Corker (TN), Mitch McConnell (KY: US Senate Minority Leader), Richard Burr (NC), Lindsey Graham (SC) and many more. Here is another shining example of the two party system fallacy in America. It’s more than simple bipartisanship. It’s flat out destruction of the nation. Sure, these people are to blame. However, the American people are just as as much at fault for continuing to vote for the same people who continue the same failed policies with no real regard to their supposed political party affiliation. Americans must learn to look beyond the labels and into the voting records. Additionally, America must grow beyond the emotions of politics and rely on hard, economically sound principle to guide them to success.
Insanity: Doing the same thing over and over while expecting different results.