BERNANKE PLAN DOING WONDERS ALREADY

Bennie and the Inkjets went all in yesterday at 12:30. This Princeton professor who has never held a real job in his entire life actually proclaimed that buying hundreds of billions of toxic mortgage backed securities from the insolvent Wall Street bankers that own the Federal Reserve, will benefit the average American. He proudly stated that he will hold interest rates at 0% until at least 2015. This means that senior citizens can plan ahead and stock up on cat food to eat, because they will be paid nothing on their savings for at least the next three years. Ben’s claim to help home buyers is a bold faced lie. Mortgage rates were already the lowest in history. Interest rates are not the problem. Debt is the problem. Insolvency is the problem. Spending money we don’t have is the problem. Debasement of the currency is the problem.

Ben Bernanke has one purpose on earth as Federal Reserve Chairman and that is to enrich the owners of the Federal Reserve and protect them from ever accepting the consequences of their criminal, traitorous actions. The impact of his disgusting actions can already be seen:

•The 10 Year Treasury rate has increased from 1.66% to 1.82% this week. That is a 9.6% increase in a few days. Mortgage rates key off this rate. This result does not match Bernanke’s rhetoric about helping the housing market.
•The USD has declined by 2.2% against the Euro and the entire basket of worldwide currencies. The debasement continues, as it is the main goal of Bernanke.
•Oil prices broke through $100 per barrel this morning and are up 3.6% this week alone. The pundits will blame it on Middle East tensions or speculators. The truth is that Oil is priced in USD and as Bernanke debases the currency, oil prices will rise. Luckily, Bernanke’s chauffer fills up his limo with the Fed credit card. He will just recalculate the CPI and pretend energy and food prices don’t really matter.
•The Dow is up 2.2% this week as Bennie’s QE3 to Infinity makes the Wall Street crowd giddy. The net worth of the .01% is getting a real boost.
•It seems a couple of asset classes reveal the real implications of Bennie’s money printing. Silver is up 5.8% and gold is up 2.5% this week. JP Morgan and the rest of the Wall Street scum are doing their utmost to keep a lid on gold and silver prices through their use of derivatives, but the lid is about to be blown off. Anyone who can’t see that Bernanke’s latest move is a last ditch desperate attempt to keep the economic system from collapsing, doesn’t have their eyes open.

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