Thursday, 21 March 2013

Yesterday.​....................from Rico

YESTERDAY. - Beyond Fed Chairman Bernanke's promise to "print money until whenever" did ANYONE actually hear what he said yesterday at his press conference following this month's FOMC 2-day 'reading' of the economic entrails? UNREPORTED. - I guess FTV and MSM did not, since I've not seen any indications from them that they did, or that they are willing to regurgitate anything but the soothing message "everything is OK, and getting even more OK, no worries, go back to sleep now." PAY ATTENTION. - In response to a question 'whether the FED would impose depositor haircuts' as was just attempted in Cyprus, he confirmed that WEALTH CONFISCATION was possible in the US if "...the people lose confidence in the US Dollar." UNASKED QUESTION. - What value is currency issued by a bankrupt government if its "full faith and credit" is what gave the currency any value in the first place? Bueller? Bueller? Anybody? Weimar, Zimbabwe, Argentina?

1 comment:

rhhardin said...

What makes money money is that the spender is willing to accept it back.

Which is not true of counterfeits, for example.