“You won’t believe the idea that America’s quintessential foreign policy establishment organ is floating now. Or maybe you will. In its September/October issue, Foreign Affairs wanders away from the calamity of its interventionist foreign policy consensus to offer equally calamitous interventionist monetary advice. The publication offers a piece instructing the Federal Reserve to give the money it prints directly to the people. The Fed, according to this incompletely thought-out option, could generate consumer spending in this way, bypassing financial institutions like banks and employers altogether. It is an idea of Keynesian absurdity.”
http://www.moneyandmarkets.com/bernankes-helicopter-note-911-65405
Related posts:
America’s Dictator
PITA Side-Channel Attack Steals GPG Key from Laptops
Overstock CEO Reveals He Now Holds Millions in Bitcoin
Spain Shuts Down Google, Confronts the Internet
NYC Mayor Seeks to Ban Short-Stay Residential Room Hotels
Pakistan Suspends Military And Intelligence Cooperation With US
10 Charts on Emerging Market Corporate Debt
NY school board lawyer fired for calling parent a ‘fat c*nt’
The Retention of Wealth
New Line of Police Drones Will Instantly Upload Video to Massive Database
European Court of Justice Official Proposes Bitcoin VAT Exemption
Documents reveal U.S. sells arms to Bahrain’s anti-democracy government crackdown
UK Telegraph: 'We No Longer Have Free Markets'
Toshiba's quantum cryptography network that even the NSA can’t hack
US Unlikely To Crack China FATCA Agreement