As Instapundit would say, the economy is in the very best of hands.
Ben Bernanke defended the Federal Reserve policy of what’s become QE Forever today. He said he’s not worried about the risks associated with his never ending stimulus policies because he has belts. And suspenders. Two suspenders.
SHELBY: Mr. Chairman… The portfolio or the balance sheet of the Fed, you said it’ss $3 trillion, more or less…
BERNANKE: I didn’t say, but yes, that’s about right?
SHELBY: Is that about right?
BERNANKE: Yes, sir.
SHELBY: But you said it then, didn’t you? It’s about $3 trillion.
BERNANKE: Yes, sir.
SHELBY: Is — you studied the Fed a long time before you ever came to the Fed. Has there ever been that type of balance sheet close to that?
BERNANKE: I don’t think so.
SHELBY: No. OK.
Does it concern you not how you put on — add to the balance sheet, but how you might have to deleverage the balance sheet? And will that be a challenge to the Fed or could it be?
BERNANKE: Well, Senator, I should comment that although the Fed hasn’t had a balance sheet this size, other central banks, like the Japanese, for example, have.
SHELBY: And they paid for it, too, hadn’t they?
BERNANKE: Well, depends on your point of view. The current prime minister thinks they haven’t done enough.
SHELBY: What do you think?
BERNANKE: I think that they should try to get rid of deflation. I support their attempts to get rid of deflation.
In terms of exiting from our balance sheet, we have put out — a couple of years ago we put out a plan; we have a set of tools. I think we have belts, suspenders — two pairs of suspenders. We have different ways that we can do it.
Read the whole thing, and then, I don’t know, stock up on canned goods, ammo, propane, firewood, gold and whatever else you can think of. If you wonder why, then you should also read this. Unfortunately, there’s only so much gas the average person can stock up on.
You’ll have a chance if you’re living in the country where you can provide for yourself. The cities will fall apart really fast. Gasoline is the one hurdle I haven’t figured out (as I flee the city for a destination 2,000 miles away). If a gallon of gas is costing $50, my little cash stash won’t get me far. Not sure what to do, other than try to be hyper aware and flee before other people figure out what’s happening. This is a terrifying experiment with the formerly most prosperous nation on earth. The political elite really do not care; they’ve ensured that they will be fine, their own kids will be fine, their own grandkids will be fine. Beyond that, they don’t give a rip. You should plan accordingly, friends.
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Yeah, unfortunately, gas doesn’t store very well. I suppose you could fill up a few gas cans and every six months or so use them to fill your car, then go refill them at the gas station. Just store enough to get out of Dodge, so to speak.
On that cheerful note, I’m off to bed.
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Bernanke Defends QE Forever – He Has Belts and Suspenders http://t.co/5LwIVm1OFF
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♦ Bernanke Defends QE Forever – He Has Belts and Suspenders: As Instapundit would say, the e… http://t.co/VRUojDVKil #TGDN #TCOT #CCOT
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Bernanke Defends QE Forever – He Has Belts and Suspenders http://t.co/UInkyPLXSe via @lonelycon
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The American People, more specifically Conservatives, are not as dumb as Bernanke and Obama think we are. We know exactly what they are doing, which all the factual evidence of their actions thus far, and their projected intended actions, is their ultimate end goal- the internal collapse of the US economically, socially, politically, and militarily. Internally overloading the system, thereby collapsing and destroying America.
There comes a point at which either We the People take back our nation, or face the end of our nation as a US Constitutional Republic, Of the People, By the People, For the People. Unfortunately, they are now on the verge of completing their mission.. And when it happens, anarchy will ensue, and the collapse of civil society will engulf America in flames never seen before.. People will look around and say, what happened and why didn’t anyone do anything about it.
Can anyone say Wiemar Republic..
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