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Geithner, The Fed's Destrution of US Currency & Race Baiting
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Topic: Geithner, The Fed's Destrution of US Currency & Race Baiting (Read 2083 times)
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WhiskeyGirl
Monkey All Star Jr.
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Posts: 7754
Geithner, The Fed's Destrution of US Currency & Race Baiting
«
on:
October 08, 2010, 06:38:55 AM »
Quote
When the momentum of the masses gravitates toward the truth, those that desire to suppress it have always resorted to smoke and mirrors to divert the people's attention away from the truth and to channel their focus into avenues that waste their energies...
Tim Geithner is now using morally disgusting tactics of race baiting to draw attention away from Central Banks' destructive policies of massive currency devaluation as the cause of people's grief and misery in an attempt to misdirect the focus of their anger away from the true culprit of bankers to the convenient scapegoat of “foreigners”.
US Secretary Treasury Tim Geithner effectively blamed China for the world's monetary crisis when he recently stated, of China's strong yuan policy and resistance to devaluing the yuan:
“it's unfair to countries that were already running more flexible regimes and let their currencies appreciate.”
...
You are 100% wrong Tim.
It's unfair to blame other countries for the attacks on American people's wealth instigated by the US Federal Reserve.
What people fail to understand about currency exchange rates is the theory of currency relativity.
To say that other countries like Japan “let their currencies appreciate” is a total distortion of facts. Japan's yen has increased a mind-boggling 51% from about 124 yen to the dollar to just 82 yen to the dollar in three years is primarily due to the US Federal Reserve's destruction of the US dollar.
The Thai baht has massively appreciated nearly 41% from 42 baht to the US dollar to 29.85 baht to the US dollar in just 6 years not because the Thai economy is booming but because the US dollar has been crashing.
To say that countries have “let their currencies appreciate” is comparable to saying that British colonists “let Africans ride their ships” to America during the slave trade.
As far as international trade is concerned, the incredible weakness of the US dollar is a thousand more times more harmful to the global economy than the strength of the Chinese yuan. Every country in the world holds US dollars for international trade and every Central Bank in the world holds large quantities of US dollars in their reserves, not Chinese yuan. Is the Chinese bank rigging the Chinese yuan to be strong? Have they cut their peg to the US dollar. Yes and yes. But so what?
The Chinese Central Bank was forced to cut the dollar peg in order not to destroy the yuan. It wouldn't be so strong if the US Federal Reserve hadn't rigged policy for 98 years in a row and deliberately devalued the US dollar by 96% to 98% during this time.
If the US Central Bank ever enacted monetary policy that was beneficial for Americans instead of just for the private banking families that own them, then they would strengthen the US dollar and the Chinese Central Bank would re-establish the dollar peg. So
why doesn't Tim Geithner really tell the truth?
Quote
...
The monetary policy of the US Federal Reserve is far more harmful to Americans than the monetary policy of the Bank of China.
If Tim Geithner called for the US Federal Reserve to significantly strengthen the US dollar, doing so would help Americans a thousand more times in the long run than calling for China to weaken the yuan
. But of course, he is between a rock and hard place now, because the US Federal Reserve has imposed artificial monetary policy in the US for so long now and created such massive distortions in the pricing of all American capital markets that doing so would cause massive short-term misery to Americans before the healing process could begin. And doing so would infuriate the nation against bankers. So the solution? Make up a fake foreign boogieman and blame the foreigner for a problem that has originated at home.
Quote
...
Mr. Geithner's racially charged propaganda is the first step to creating the type of racial animosity that allows a Mussolini or Hitler-type persona to rise to power. You may think this is a stretch to make this comment, but the implementation of false beliefs into the psyche of a nation is how tyrants always rise to power.
So who is Vincent Chin? Vincent Chin was a Chinese American that was beaten to death by two racist unemployed Detroit auto employees that sought any Asian-American scapegoat to unleash their vile hatred against Asians that resulted from Japanese auto manufacturers' increased US auto market share during the early 1980s. Before bashing in Vincent Chin's skull with a baseball bat, the two murderers yelled at Vincent, “It's because of you little motherf**kers that we're out of work.”
There will come a time when Americans, unemployed, hurt, scared, and miserable, will direct their misguided anger against foreigners instead of rightfully directing it towards bankers. And who will we have to thank when another Vincent Chin is beaten to death? Tim Geithner, Dominique Strauss-Kahn, Charles Schumer, Sander Levin, and the New York Times.
Quote
All of these so-called “leaders” are wolves in sheep's clothing that have unilaterally failed to attack the true root of this problem one single time during their tenure. That culprit is the dying US dollar and the miserable failure known as the US Federal Reserve. I only pray that before the next Vincent Chin happens, people will see through the smoke and mirrors of these charlatans and think for themselves.
read more here -
http://www.benzinga.com/10/10/515303/race-baiting-now-an-official-policy-tool-of-us-bankers
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
Offline
Posts: 7754
Re: Geithner, The Fed's Destrution of US Currency & Race Baiting
«
Reply #1 on:
October 08, 2010, 06:41:31 AM »
The cycle repeats?
The bankers run off with everyone's money, they get bailed out again, and then Main Street pays for the rest of their lives, due to inflation, hyperinflation, and the destruction of the meager savings...
How many more failures before American's wake up? No more bailouts.
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
Offline
Posts: 7754
Re: Geithner, The Fed's Destrution of US Currency & Race Baiting
«
Reply #2 on:
October 08, 2010, 06:53:55 AM »
Quote
Edward Fitzpatrick:
Where was Ben Bernanke when the financial regulatory system nosedived?
01:00 AM EDT on Thursday, October 7, 2010
Federal Reserve Chairman Ben Bernanke came to town this week to speak to the Rhode Island Public Expenditure Council, and it was a big deal.
...“He is the most important player guiding the world’s most important economy,” and “his creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression.”
I believe that’s all true.
But I could hardly believe that Bernanke tied the crisis to “weaknesses in our financial regulatory system,” saying, “Nobody was looking at the system as a whole.”
I mean, isn’t that his job? I’m sure President George W. Bush and President Obama, Congress, Henry Paulson, Timothy Geithner and others had or now have key roles. But wasn’t Bernanke supposed to be looking at the system as a whole before the whole system nosedived?
Among those listening to Bernanke was U.S. Sen. Sheldon Whitehouse, a Democrat who in January opposed Bernanke’s nomination for a second term.
“Ben Bernanke bears considerable responsibility for the lax regulation that brought about the housing bubble,” Whitehouse said at the time. “To make matters worse, a quick review of his public statements in the months leading up to this crisis demonstrates a troubling pattern of false confidence.”
For example, in May 2007, regarding the housing crisis,
Bernanke said, “We do not expect significant spillovers from the subprime market to the rest of the economy.”
There is no depression for Wall Street or the Washington elites. Main Street will be LIVING the DEPRESSION for generations.
Why would anyone in Washington keep doing the same stupid things and expect different results?
Unless...maybe your goal was to destroy the nation, and then you want to ensure that the destruction is for generations, just keep the same people in power.
Quote
If you remain insufficiently annoyed at big banks and the government,
read “13 Bankers,” a book detailing how “the political influence of Wall Street helped create the laissez-faire environment in which the big banks became bigger and riskier, until by 2008 the threat of their failure could hold the rest of the economy hostage.”
The book says,
“Never before has so much taxpayer money been dedicated to save an industry from the consequences of its own mistakes. In the ultimate irony, it went to an industry that had insisted for decades that it had no use for the government.”
When the crisis hit, Bernanke and others needed to act, but they had options and,
“in the end, the major banks got business as usual. The shakeout of 2008 left the big banks even bigger,” the book says. “The rest of us were not so lucky. While a second Great Depression was averted, the collateral damage to the real economy was enormous.”
more here -
http://www.projo.com/news/efitzpatrick/edward_fitzpatrick_7_10-07-10_GLK7TBQ_v24.207df4e.html
Who's guarding the hen house? The fox? The same fox that's been feasting for decades?
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
Offline
Posts: 7754
Re: Geithner, The Fed's Destrution of US Currency & Race Baiting
«
Reply #3 on:
October 08, 2010, 06:58:42 AM »
Quote
U.S. Fed is banking on phony wealth effect
HUNTSVILLE -The Federal Reserve is committed to enticing Americans into doing once again what worked out so badly in the last decade: spending the phony paper gains engineered by overly loose monetary policy.
That, at least, is the very strong impression given by a speech by Brian Sack, the markets chief of the New York Federal Reserve, a man whose job it will be to implement the second round of large-scale quantitative easing coming after the elections in November.
Click here to find out more!
A round of speeches from key Fed officials has given the clear view that, faced with deteriorating conditions and trapped by the lower bound of zero in its monetary policy, the Fed is preparing to once again buy up large amounts of Treasuries, perhaps even more than the government is issuing on an ongoing basis, in an attempt to drive down market interest rates and stimulate the economy.
Quote
So, there you have it: pump up asset prices and hope that people spend some of the ephemeral gains. The idea that people will spend more if their houses and other assets rise in value is called the wealth effect, but this policy creates only pretend wealth.
In fact, many people in the U.S. now face diminished retirements and generally straitened circumstances precisely because they mistook the rising prices of their house and Internet stocks for wealth and spent or borrowed against it. Is the U.S. actually so desperate for economic activity that this is the best it can do? Apparently so.
"When will these guys ever learn that maybe, just maybe, these Fed policies aimed at targeting asset prices at levels above their intrinsic values is probably not in the best interests of the nation?"
Dave Rosenberg, chief economist and strategist at Gluskin, Sheff wrote in a note to clients.
It seems like borrowing the pretend wealth is why so many folks are now 'under water'.
read more here -
http://www.brantfordexpositor.ca/ArticleDisplay.aspx?e=2791274
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
Offline
Posts: 7754
Re: Geithner, The Fed's Destrution of US Currency & Race Baiting
«
Reply #4 on:
October 08, 2010, 06:59:52 AM »
The phony wealth effect = stealing money from one group and giving it to another because they will spend it...
At some point, you run out of other peoples money.
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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