They Must Be Kidding! - Time Magazine Names Federal Reserve Chairman Ben Bernanke As Person Of The Year
Wednesday, December 16, 2009 Posted by Shattered Paradigm
But Time Magazine appears not to fear any kind of criticism. Instead they speak of Bernanke as if he was something beyond a hero. In fact, the Time article casts Bernanke as some sort of courageous solider battling the demons of financial disaster....
"He led an effort to save the world economy."
The Time Magazine article goes on to bemoan the fact that the American public does not "appreciate" Bernanke. They portray him as some misunderstood hero who has sacrificed so much to save us all....
"He wishes Americans understood that he helped save the irresponsible giants of Wall Street only to protect ordinary folks on Main Street."
So did Ben Bernanke save the planet from disaster?
Or is something else going on?
The truth is that Ben Bernanke is just a frontman for a privately-owned central bank known as the Federal Reserve that issues the currency of the United States and that makes countless billions off of the backs of American taxpayers for the benefit of elite international bankers.
Does that sound like a "Person of the Year" to you?
The truth is that there is currently a move in Congress to conduct a real audit of the Federal Reserve for the first time ever.
The leader of this movement is Republican Congressman Ron Paul from Texas. He is one of the few members of Congress that wants to hold the elite international bankers behind the Federal Reserve accountable. The following is an excerpt from Ron Paul's remarks to Federal Reserve Chairman Ben Bernanke at a recent hearing....
"The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit created out of thin air can provide sustainable economic growth has delivered this crisis to us. Instead of economic growth and stable prices, (The Fed) has given us a system of government and finance that now threatens the world financial and political institutions. Pursuing the same policy of excessive spending, debt expansion and monetary inflation can only compound the problems that prevent the required corrections. Doubling the money supply didn’t work, quadrupling it won’t work either. Buying up the bad debt of privileged institutions and dumping worthless assets on the American people is morally wrong and economically futile."
That is how Ben Bernanke "saved" the U.S. economy - by flooding it with massive amounts of money.
This flood of money will eventually lead to massive inflation and the crash of the U.S. dollar.
Just look at the chart posted below. This is what Bernanke is doing to the money supply....
As we noted on our sister site recently, the results of this kind of monetary policy are going to be absolutely disastrous....
You see, rapid inflation is like a hidden tax on everyone and everything. All of those seniors who carefully budgeted for retirement are going to be in for a nasty surprise. The value of everyone's dollars is going to rapidly go down the toilet.
Ben Bernanke did not "save" the economy. He only made the inevitable collapse so much worse.
But the financial establishment is going to continue to prop him up as they continue to rob us blind through the manipulation of our currency and through the massive interest that they make off of U.S. debt.
The United States is being looted and Ben Bernanke is helping to lead the way.
That does NOT make him the Person of the Year.