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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (50368)	1/20/2006 5:18:29 AM
From: shades	Respond to of 110194

"The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson." --- President Franklin D. Roosevelt's letter to Colonel House, November 21, 1933 (Sterling Library, Yale University). "The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences." --- Professor Carroll Quigley, Tragedy and Hope: A History of the World in our Time (Macmillan Company, New York, 1966), p. 324. "Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost...A money-financed tax cut is essentially equivalent to Milton Friedman's famous "helicopter drop" of money." --- Ben S. Bernanke (incoming Federal Reserve Chairman), Deflation: Making Sure 'It' Doesn't Happen Here (Remarks to the National Economists' Club, Washington, DC, Nov 21, 2002) "By coordinating with fiscal policy, the Fed could even implement what is essentially the classic textbook policy of dropping freshly printed money from a helicopter. In this case, the Fed would monetize government debt that had been issued to finance a tax cut." --- Evan Koelnig and Jim Dolmas (VP and Senior Economist, respectively, Federal Reserve Bank of Dallas), Monetary Policy in a Zero-Interest-Rate-Economy (May 2003).