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Bernanke rescues economy, gets carping from Congress

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  • Fri, Aug 07, 2009 - 11:28am

    #51
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Bernanke rescues economy, gets carping from Congress

[quote=Dogs_In_A_Pile]

[quote=SagerXX]

…of course, the new hard currency in DC would be called the "RonPaul" [which would be worth 100 Bernankes]– and then you tied each unit to, say 1 oz of silver?  No printing allowed…

[/quote]

Sager –

I would posit that any combination of Bernankes yields less as a sum than as an individual piece.  Kind of like when you combine two black holes I suppose?

And is Wisconsin the "Gouda"?

[/quote]

Hmmm…the other problem w/Bernankes is that if you left a dozen of them in a drawer overnight, in the morning you’d have 2 dozen of them waiting for you.  DC would be crushed under a vast mountain of inflating Bernankes within a month or two.

Uh.  Come to think of it…

Viva — Sager

  • Fri, Aug 07, 2009 - 11:40am

    #52
    Peak Prosperity Admin

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    Re: Bernanke rescues economy, gets carping from Congress

[quote=Ready]

Nigel,

If we were having this discussion in 2007, I would say there was little the Fed couldn’t spin. One might even go so far as to say it would have been a brilliant chess move to do an audit then, so now it would not be legislation on the floor.

In 2008, again, with the chaos, I think they could have gotten away with it. People like us on this blog would be mad as hell, but the majority would be oblivious.

Now,  I have a hard time believing that they can escape without a lynching of some sort, most likely not even starting in the US. If we are loosing jobs at the same rate headed into 2010, folks will be seeking out the truth as we have here. They will no longer listen to MSM BS, and this has been precisely my point all along. Every day that goes by, every layoff and forclousure brings us that much closer to critical mass…

If you can somehow convince me that my basic tennants in this debate are false, I’d love to hear it. I’m willing to change my mind as new data is presented. It seems that you have stated the obvious as to what the possibilities are but have withheld your beliefs as to the likelihood of each. Time to ante up.

[/quote]

panem et circenses

and

The process by which money is created is so simple the mind is repelled.

Until people are going hungry and have no television they will not take the time to understand the implications of an audit. I wouldn’t worry about a panic with regard to a fed audit. I think you have your association hat on, you assume that everyone around you is as intelligent as you are, which is a very respectful thing to do. As a rule the general population is not. If they were this website might have a few million subscribers. It all comes down to the courtiers, are they going to pretend the emperor still has cloths on or not? I think that the way the economy and media are geared they will continue business as usual even after an audit.

It’s possible that an audit may cause a big bang crash, but it is far more likely it will be another page in the slow but inevitable crash. Watch the supermarket for the signs of a big bang crash. When the shelves are empty then it will come.

I can’t convince you, nor do I want to. I like the divergent view points on this site and the respectful manner in which they are presented. I can only explain my beliefs and hope you gain from them as I do from yours.

  • Fri, Aug 07, 2009 - 12:45pm

    #53
    Peak Prosperity Admin

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    Re: Bernanke rescues economy, gets carping from Congress

Sager, Dogs, Jag: I laughed pretty hard at that, Thanks.

Larry, I will look at this closer, this could be a real solution if I am understanding you correctly. Have you got a link on the best place to understand this idea? I know MN is trying to pass a bill where they coin money for transportation infrastructure, but to me (and I asked several folks smarter than me) this seems unconstitutional. That is the sacred cow for me, I support the Constitution as written and intended, trying to skirt around it or modify it for our uses makes us no better than the jokers that got us in this mess and have slowly been taking away our liberties.

Nigel,

I don’t think it is the American Citizen who will cause a dollar crisis, so their intelligence is not really the issue. They will create a reaction all right, but it will be when the dollars in their pockets can no longer buy food or other essentials because they are worthless.

This is tricky, and certainly hundreds of variables, not the smallest of which is the USD is the reserve currency. It is clearly impossible to understand how it would play out to any level of detail, but I honestly believe we are getting to the point where if China had an easy way to change the reserve currency, it would. Bad news in this audit would clearly have the exporting nations of the world re-thinking their dollar holdings. If they all came home in a short period, we’re toast, IMHO. I do acknowledge that I may be wrong and the results of the audit could be swept under the carpet, but the other nations and central banks of the world would need to be complicit in this action. I am betting that the resistance here to continue the charade would be high.

Thanks for the well thought out comment.

Rog

 

  • Fri, Aug 07, 2009 - 02:26pm

    #54
    Peak Prosperity Admin

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    Re: Bernanke rescues economy, gets carping from Congress

http://www.leap2020.eu/When-China-prepares-its-Great-Escape-from-the-dollar-trap-for-the-end-of-summer-2009_a3582.html

  • Fri, Aug 07, 2009 - 02:39pm

    #55
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    Re: Bernanke rescues economy, gets carping from Congress

 http://www.youtube.com/watch?v=ehzRS8mZOFM

  • Fri, Aug 07, 2009 - 02:42pm

    #56
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    Re: Bernanke rescues economy, gets carping from Congress

Greg, if your article proves correct, we’ll have our crisis before the Fed could even hope to be audited.

Cheery times, no?

  • Wed, Aug 19, 2009 - 01:33pm

    #57
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    Anyone seen Ready Lately?

Has anyone seen a post by Ready in the past few weeks?

Another voice of reason on this site gone. Gee, I wonder what the future holds for this community?

  • Wed, Aug 26, 2009 - 06:28pm

    #58
    Peak Prosperity Admin

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    Re: Anyone seen Ready Lately?

[quote=JAG]

Has anyone seen a post by Ready in the past few weeks?

Another voice of reason on this site gone. Gee, I wonder what the future holds for this community?

[/quote]

If I remember correctly, Rog has taken the occasional hiatus in the past . . . which, frankly, I personally recommend to anyone who spends much time here.  It allows one to get recentered and to “keep it real”. . . I suspect he’ll be back when he’s Ready . . . (sorry . . . couldn’t resist  . . . ) and when he’s got something that he needs to say. 

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