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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (27345)	8/1/2011 5:15:58 PM
From: RetiredNow	Respond to of 86356

Look no further than Chairman Bernanke to see the Command Economy in action. What do you think all his Quantitative Easing is about? Bernanke is the biggest Communist this country has ever seen. We need to abolish the Fed and let our currency float free of intervention. That would provide a free market check and balance against the Treasury and Congress going nuts with deficits and debt. If we can't monetize the debt, then it would be impossible to sell as much debt as they anticipate doing over the next 10 years. The market couldn't absorb it and we'd see a failed Treasury auction. However, with a Communist Bernanke leading his Central Planning Committee known as the Fed, all he has to do is buy up all failed Treasury auctions by creating 1's where there were 0's before. Sounds great, yeah? Except it results in an immediate devaluation of our purchasing power. It's a stealth tax from you and I and a redistribution of wealth from the bottom 99% to the top 1% in the financial industry, who can borrow at 0% and invest in Treasuries at 3%. Welcome to the Communist USA lead by Chairman Bernanke and his lackies Geithner, Obama, and Congress. But even Chairman Bernanke has a boss. They are Wall Street and the banking oligarchy. They are all vampires that add no value to our economy.