The media has been happily reporting that the Fed is making itself “more transparent” with the news that Bernanke will now give quarterly press conferences AND that today the Fed releases the names of the banks who borrowed from the discount window during the 2008 banking system collapse. The quarterly press conference is a bunch of b.s. because Bernanke, following in the footsteps of Greenspan, really doesn’t say much when his lips are moving and he has for sure issued many non-truths. And disclosure of the names of banks that took discount window money should not be news to anyone who is paying attention.
To begin with, the Fed is releasing today’s information after spending three years fighting the court system in an attempt to prevent today’s disclosure. It took a Supreme Court decision to force the issue. More “transparent?” Hardly. Who gives a crap which banks borrowed from the discount window because it is safe to assume that every single large too-big-to-fail bank in some way or another had become completely insolvent during the course of 2008’s systemic financial collapse. I don’t need the Supreme Court to force to the Fed to tell me which banks took discount window money BECAUSE ALL THEM DE FACTO COLLAPSED. And it was only with slick maneuvering that pushed all of that liability – trillions – onto the Taxpayer that enabled the system to be re-liquified and enabled all of the big bank CEO’s to continue handing out $100’s of millions in compensation to their employees and to themselves.
It is an absolute absurd joke if the citizens of this country believe that the Fed is now willing to be more open about their operations just because the Supreme Court forced today’s disclosure and because Bernanke is going to give us a quarterly press conference loaded with worthless grandiosities and literal bullshit. I would like to see detailed information about the Fed’s daily open market operations, which seem to correlate almost perfectly with directional movements in the stocks market and also serve to partially manipulate the precious metals markets. How about giving us some detailed information about all of the toxic assets the Fed purchased, what they paid and from whom they purchased them? Why am I entitled to this information? Because President Obama and Treasury Secretary Tim Geithner have authorized the use YOUR tax money to guarantee that the privately owned Fed does not lose money on the above operations.
Now on to the matter of inflation. Every single Federal Reserve and Government official is denying that inflation is becoming a problem in this country. But how about taking that medicine from the CEO of Walmart, the world’s largest largest retailer?
inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. “We’re seeing cost increases starting to come through at a pretty rapid rate.”
Walmart is responsible for about 10% of all retail sales in this country and the majority of what they sell here comes from China. Still want a weaker dollar? If this guy says inflation is coming, better get prepared for it. Here’s the article LINK
Rest assured that the Goverment statisticians will continue to issue reports which have manipulated away most of the damage you feel at the cash register and in your savings accounts. But this is going to become a serious problem for everyone who is not prepared. The best way to get ready is to move as much of your liquid investment funds into physical gold and silver as you can. You can also put some money into the stock market, which should keep pace with inflation until the dollar collapses, but you will still be left holding dollars. When the music stops on the dollar game, if all you have is dollars you will be broke because no one will want to take your dollars in exchange for goods and services. Foretold is forewarned…