Ben Bernanke just got finished giving a very "candid" interview on CBS' 60 Minutes where he pledged that the Fed would do everything it can (i.e. print more money) to help stave off the economic meltdown. Whew, now I feel better. And how could the viewers not tear up when the head looter gave a heartfelt account of his humble upbringing?
The unprecedented interview with the Fed chief makes one wonder why he decided to provide the exposure to the media today when it had never been done before. The answer is because Bernanke is not stupid (diabolically intelligent, actually) and has sensed that the tides are changing with regard to the public opinion of who the Fed really is and what they do. The Fed has come under more pressure from many different angles, with the recent trend attributable to Ron Paul during his 2008 presidential campaign.
Bernanke is trying to head the public dissent off at the pass in an effort to appeal to the people that he is just a "regular guy tasked with the unenviable job of cleaning up the mess that the free market caused", not the more accurate perception that he is in fact the spawn of Satan himself.
Bernanke has taken a page out of FDR's playbook and is doing everything he can to prolong this Great Depression II by implementing the same tactics of attempting to print our way to prosperity. If printing money could create wealth, then the Wiemar Republic and Zimbabwe would be the two richest nations on the globe.
It is absolutely laughable to hear Bernanke claim that the Fed is printing trillions of new dollars while still trying to keep inflation in check. By definition, the Fed is the only entity that CAN create money and thus inflation -- how could we possibly be expected to believe that it is the fighter of inflation?
It is time that the people wake up and realize what the Federal Reserve really is: a private collection of bankers with the absolute ability to steal from the people because of its government granted monopoly. The Fed started this fire and now we have blindly tasked them to put it out.
One can't help but think of the quote by Albert Einstein: The definition of insanity is doing the same thing over and over again and expecting a different result.
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