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14 Comments
- megerisi, on 09/17/2008, -0/+18"We have lost control," said Hale, quoting Bernanke. "We cannot stabilize the dollar. We cannot control commodity prices."
So not only are we in a recession, but we may have runaway inflation, not a good combination.
Scary stuff. - inactive, on 09/17/2008, -0/+15Can someone please step up to the plate like Kennedy and get rid of this creepy organization?
- DatVillain83, on 09/17/2008, -0/+9get your canned food now if you can!
- ljrdxyh, on 09/17/2008, -3/+10Ron Paul was right!!!!!
Join the Campaignforliberty.org - acmaurer, on 09/17/2008, -0/+7At least it's just the economy
- richmomz, on 09/18/2008, -0/+5The writing has been on the wall for awhile, and we have been warned by people like Ron Paul and others who were brave enough to speak out against the government propaganda that "everything is fine." Now everyone is beginning to wake up, but unfortunately it may be too late to stop what's coming.
- kenn5, on 09/17/2008, -1/+6Well, we can burn the dollar because at least then it will produce heat. It's not much good for anything else.
- inactive, on 09/17/2008, -0/+4On the one hand, cheaper $80 to $100/barrel oil.
On the other hand, a threatened weaker dollar.
And the potential savior in this? The inflation-dampening tendencies .... of China.
There's a good book to be written about this crisis. - tonyteetime, on 09/18/2008, -0/+4The current monetary system managed by the feds and allowing local banks to practice fractional reserve banking will only result in continuous growing inflation which in turn will cause yours and your children's' standard of living to go down. Inflation is the effect caused by printing money out of thin air and creating debt money from fractional reserve banking practice (banks loaning out money which they don't "physically" have).
See the video from G Edward Griffin whom authored the book " The creature from jekyll island". It will open your eyes to how the Feds came to exist and how fractional banking will eventually break our economy.
http://video.google.com/videoplay?docid=6384473720 ... - Hangly, on 09/18/2008, -0/+4No ***** you can't control the economy. It's foolish to even try.
- fancypantscz, on 09/18/2008, -0/+4And most alarmingly, some of our elected officials are just now figuring out that the Federal Reserve is not actually under federal control. This is from a WaPost article:
'While most lawmakers said they trust Bernanke's judgment, Frank said he was troubled to learn in the meeting Tuesday that Bernanke has legal authority to use the central bank's reserves, which total $888 billion, to make loans to any entity under any terms he deems economically justified. "No one in this democracy -- unelected -- should have $800 billion to dispense as he sees fit," Frank said. "It may be that there is so much bad debt out there clogging our system that we may have to have some intervention. But it shouldn't be the unilateral decision of the chairman of the Federal Reserve with the backing of the secretary of the Treasury." '
http://www.washingtonpost.com/wp-dyn/content/artic ...
"troubled to learn" Well, better late than never... Yea, um maybe we should reexamine that fundamental aspect of our economic system because it does seem a little odd now doesn't it?
I mean, now that the wheels have fallen off, it might be a good idea to take a look under the hood. - SooperPooper, on 09/17/2008, -2/+4"
- Hangly, on 09/18/2008, -0/+2They're edible too. Dollars contain essential inks.
- thecohen, on 09/18/2008, -0/+1YEAH. I think this is something Steven King should right, because it's getting downright scary.
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