Another great article by Detlev Schlichter, on Paper Money Collapse. Here’s a quote:
“The problem is not that he is evil or dumb – I think he [Ben Bernanke] is neither – the problem is much bigger. Evil and dumb people can be dealt with. The deeply-convinced do-gooders in positions of almost unchecked power, those are the ones we should worry about, those who are full of good intentions but suffer from tunnel-vision, incurably in awe of their own theories and incapable of even beginning to grasp how what they are doing could make things worse. For keeping rates artificially low and bank reserves generously expanding is a form of constant market manipulation, and it is creating momentous dislocations and vast problems with as yet incalculable consequences – even if it does not presently generate instant hyperinflation or an intolerable expansion of the wider monetary aggregates, and thus looks deceptively harmless through Mr. Bernanke’s narrow prism of national account statistics.”
Ausgezeichnet, als wir sagen im Henley On Thames.
Here’s Ron Paul, again, as discussed by Herr Schlichter, torturing Ben Bernanke: