Tag Archives: Pretense Of Knowledge

Congressional Report Warns of Potential Bitcoin Threat to US Dollar

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“A Congressional report quietly released last month suggests that bitcoin could be a threat to US monetary policy, and makes the case for continued central banking control.  If bitcoins are substituted for dollars on a more systematic, long-term basis, the situation would change, because it would decrease the need to hold dollars, and increase the supply of fiat money. The danger, according to the report, is that this could reduce the demand for dollars, which would affect the rate of circulation. This would confound things for the Federal Reserve, which effects monetary policy by adjusting the banking system’s available dollar reserves.”

http://www.coindesk.com/congressional-report-warns-bitcoin-threat-dollar/

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Fed’s ‘Elixir’ Is Surely a Temporary One

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“The idea once was that powerful central bankers would work behind the scenes to make sure that various markets were stable and fair. Nowadays, central bankers work to ensure that markets – especially stock markets – are propped up so that the appearance of an improving economy can be maintained. And far from working in secret, this generation of bankers is desperate to reassure investors that optimal conditions for continued equity gains will be continued. This is, in fact, what the Bloomberg article is telling us. The Fed’s magic elixir is simply the ability to assure top investors that they can continue to shovel money into the stock market without undue risk of reversals.”

http://www.thedailybell.com/news-analysis/34852/Feds-Elixir-Is-Surely-a-Temporary-One/

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Bill Bonner: The Fed’s Big Lie

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“Whatever may be said about today’s cockeyed economies, there is nothing ‘normal’ about them.  What’s normal about a government that runs up as much debt as it had in World War II – with no war… no national emergency… and no way to pay the money back?  What’s normal about an economy that depends on the lowest interest rates in three generations… and a central bank that holds them down like a crooked butcher with his finger on the meat scale?  And what’s normal about an advanced capitalist country where the typical man earns less than he did 43 years ago?”

http://www.bonnerandpartners.com/the-feds-big-lie/

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Cognitive Dissonance of Ben Bernanke?

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“The aggrandizement of ‘leaders’ who preside over massive price-fixing facilities such as central banks and legislatures ought to be identified as the hype that it is. There is no possible way that even the most sophisticated analysis of previous indicators can yield up legitimate and accurate projections. Those internationalists who have constructed the current system know that. Hence, the almost obsessive concentration on academic degrees and ‘expert’ appellations. The idea is to fool people into believing the ‘best-of-the-best’ have ‘expert’ powers that allow them to peer into the future using the indicators at hand. But they can’t any more than you can.”

http://www.thedailybell.com/news-analysis/34843/Cognitive-Dissonance-of-Ben-Bernanke/

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Money for Nothing: Inside the Federal Reserve (2013)

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“Nearly 100 years after its creation, the power of the U.S. Federal Reserve has never been greater. Markets and governments around the world hold their breath in anticipation of the Fed Chairman’s every word. Yet the average person knows very little about the most powerful – and least understood – financial institution on earth. Money For Nothing is the first film to take viewers inside the Fed and reveal the impact of Fed policies – past, present, and future – on our lives. Join current and former Fed officials as they debate the critics, and each other, about the decisions that helped lead the global financial system to the brink of collapse in 2008. And why we might be headed there again.”

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Central banker: Aussie dollar needs to fall further

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“Reserve Bank of Australia governor Glenn Stevens has indicated he wants an Aussie dollar closer to 85 US cents, while pointing to ‘promising signs’ that the economy is transitioning away from the mining boom.  But he said that turning the lower currency into a real depreciation that spurs growth would require real wage cuts.  ‘I thought [US]85 cents would be closer to the mark than [US]95 cents . . .but really, I don’t think we can be that precise.  I just think that if things over the medium term evolve as we’re presently assuming – and I think it’s reasonable to make these assumptions – it’s going to be surprising if a nine at the front is the right number,’ he said.”

http://www.smh.com.au/business/the-economy/glenn-stevens-says-aussie-dollar-needs-to-fall-further-20131213-2zapf.html

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The Dialectical Pomposity of the Tapering Promotion

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“We might taper, he tells us, if the economy seems strong. We might not if the economy seems less strong.  Maybe we will, maybe we won’t.  And to ascertain the strength of the economy, Bullard and his noobs will parse notoriously unreliable government data. They will make decisions on how much money to print at what price. This is price fixing and price fixing never works. They will use the loony-tune statistics provided to them by the US government. Good luck. They will make determinations about the level of the price fix they shall levy based on these flawed numbers.  This is YOUR economy. This is YOUR money.”

http://www.thedailybell.com/news-analysis/34819/The-Dialectical-Pomposity-of-the-Tapering-Promotion/

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Alan Greenspan: Bitcoin Is a Bubble Without Intrinsic Currency Value

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“The former Federal Reserve chairman said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.  ‘It’s a bubble,’ Greenspan, 87, said. ‘It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.’  ‘I do not understand where the backing of Bitcoin is coming from,’ the former Fed chief said. ‘There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money.'”

http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.html

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Central Banking: Sterile as the Grave

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“Central banking is a modern religion, a technocratic one. The world’s top men, the ones who control banking, want to present central banking as a science. Any sense of spontaneity, gaiety or eccentricity is to be drained from the process. What is left is a dutiful acknowledgement that those minding the money store are the best of the best – and chosen for their fealty to honesty and their honest resoluteness in the face of the temptations of corruption. A straight-shooter, fearless, well-meaning, earnest … even a bit nebbish. That’s how the central banker is basically presented to the world. You don’t usually see them in relaxed environments. You hardly ever see them at barbecues.”

http://www.thedailybell.com/news-analysis/34797/Central-Banking-Sterile-as-the-Grave/

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Paul Craig Roberts: The Money Changers Serenade – A New Plot Hatches

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“At the IMF Research Conference on November 8, 2013, former Treasury Secretary Larry Summers presented a plan to expand the con game.  Summers says that it is not enough merely to give the banks interest free money. More should be done for the banks. Instead of being paid interest on their bank deposits, people should be penalized for keeping their money in banks instead of spending it. Summers acknowledges that the problem with his solution is that people would take their money out of banks and hoard it in cash holdings. Summers has a fix for this: eliminate the freedom by imposing a cashless society where the only money is electronic.”

http://www.paulcraigroberts.org/2013/11/29/money-changers-serenade-new-plot-hatches-paul-craig-roberts/

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