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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Yorikke who wrote (13704)2/21/2013 11:44:56 AM
From: The Ox5 Recommendations  Read Replies (3) of 33421
 
Greenspan and Bernacke are bankers. They see life through the ivory tower at the top of the largest banks in the world. Their only responsibility is to the bankers. Anyone who thinks differently needs to recheck their thought processes. The FED is in business for the FED. That's it. They can say publicly that they have other interests, but when you boil it all down and see what's left over, you get the large banks and only the large banks. That is why the saying "Don't fight the FED" is so important. The rest of the world can go to hell in a handbasket as far as they're concerned.

It's the press and a few others who worship people on the FED who make them out to be more than they are. They get labeled as great economic thinkers but in reality, as we all (should) know, they are simply out to maintain their cartel's dominance. Nothing more and nothing less. It's not sinister or devious or anything of this ilk. They are just doing what they feel they have to do. I don't applaud what they do but I try to see it for what it is, rather than what I'd like it to be.

Greenspan would slam hard on the accelerator and then slam on the breaks. He did this over and over again. Why? Because that's what made the banks the most money. Not because he was engineering the economy but because the massive swings allowed the bankers to pull in money hand over fist. Blow up the bubble, pop the bubble. Blow another one and repeat.

JMO

TO
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