I can’t put down the book, “Steve Jobs”. I relate well to his political correctness [sarcasm], his contempt for school and about everything else, except for hygiene and not eating meat. He kept it simple. In his mind the ledger of human intelligence had two columns — as Mac designer Bill Atkinson so aptly put it — “Gods and ****heads.”
If it's not already obvious, let me explain why the Fed clearly falls into the second camp.
The Fed's "dual mandate":
The Congress established two key objectives for monetary policy — maximum employment and stable prices — in the Federal Reserve Act.
Mandate #1: Maximum Employment
Our Maximum Employment? 23% Unemployment (see image below). If Jobs ran the Fed he'd storm into to some cubical and say, "this is crap!" Instead we have a moron who lies about the unemployment rate to cover his psychopathic rear and serve his masters, the gods of greed we call banksters. We just need one chart of unemployment from John Williams of Shadow Statistics to realize that the "Fed" crashed and burned on mandate #1.
Where is Ben, a.k.a. "I Wrote the Book on the Great Depression", Bernanke?
You'd think a self-professed scholar of the Great Depression would be smart enough to realize that 23% unemployment is a "depressionary" indicator caused by decades of asinine monetary policies. Here is what the hapless policy maker wrote in his book:
"I guess I am a Great Depression buff, the way some people are Civil War buffs. I don't know why there aren't more Depression buffs. The Depression was an incredibly dramatic episode — an era of stock market crashes, bread lines, bank runs, and wild currency speculation, with the storm clouds of war gathering ominously in the background all the while. Fascinating, and often tragic, characters abound during this period, from hapless policy makers trying to make sense of events for which their experience had not prepared them to ordinary people coping heroically with the effects of the economic catastrophe."
Ironic, when you give it a seconds worth of thought.
Mandate #2: Stable Prices
Stable Prices: Stable prices require one thing — a stable dollar. We don't have a stable dollar...unless you mean stably falling to zero.
Before Greenspan embraced the dark side, he wrote the truth in 1966 in Ayn Rand's "The Objectivist". Now there are many ways to rationalize what someone wrote 46 years ago back when I was still kicking around in cloth diapers. For example, when I first read it I said, "Greenspan's jet ran off the runway."
But it didn't. Further research indicated that he recently signed an original copy of this for Dr. Ron Paul and here's the interesting part: Dr. Paul asked Greenspan, "Do you want to write a disclaimer on this article?"
"No, I wouldn't do that. I just read this recently and I fully support everything I wrote."
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth.
What type of a psychopath speaks the truth, believes in what he says and then turns around (and using his own words) confiscates his fellow Americans' savings?
A dollar then (when the Fed was created) is today worth four cents [and that's if you believe the lying (ehems) over at the Bureau of Labor Statistics]. I don't.
That is what inflation is: More money is created and its value tanks and stuff costs more.
Rising prices are a symptom of inflation, they are not inflation.
Unless you are bright enough to hedge by using a real currency you're screwed. When someone tells me something is ten bucks I think to myself it's really forty cents, since each buck is worth four cents.
Here is the Fed's stable prices mandate for you:
Greenspan also muzzled Brooksley, a.k.a."The Saint Who Wanted To Regulate Derivatives In The 1990's", Born; when he pushed through the Gramm-Leach Biley Act which allowed banks to participate in investment activities — then massive amounts of money chased after a limited supply of goods.
In 2006, 30% of all originators were subprime. Put in plain English: Psychopath Greenspan introduced 30% more buyers into an already tight market and prices went insane.
Now the fraud is coming undone. More prime borrowers were taken out in foreclosure than subprime borrowers. The financial terrorists, (a.k.a. these psychopathic morons) created and detonated Financial WMDs (Warren Buffet's description) which decimated stable prices and created The Second Great Depression.
Now to save their lying rears from pitchforks & torches they are telling you we're in a recovery.
If you muddle through the Fed's FY2005 FOMC minutes you'll see they know and laugh at the yo-yo price instability that the Fed creates.
"I'll close with one other thing, the central banker's anxiety, which is: Good times are bad because they could turn out to be bad. Bad times are bad for obvious reasons.' [Laughter] I think you've given us a lesson in why these extremely good times are unlikely to be good for us in the long run." ~ Ferguson.
Ann Barnhardt said in a super interview that these morons should be tried, lined up and executed for treason. I disagree with one part of that, lead's running .50 a round these days and they aren't worth two and a half cents. That said: I wont be the least bit disappointed if this ends up like Greece with pitchforks and torches. And it will, because it always does.
Pitchforks and Torches
Horrible bosses lead to pitchforks and torches. So where are the *535 clowns in Congress and the Senate? (*Ron Paul and a handful of good eggs excluded.) They're getting rich off this bread and circus charade.
"Tell me, Sam, is there really any difference between Republicans and Democrats when it comes to spending?" And Cohen said, "I want to think about it, do some research, and give you a serious answer." He called back the next morning and said, "Yes, George, there is. Democrats enjoy it more." [Laughter] "But otherwise there doesn't appear to be any difference." ~Fisher, FY2005 FOMC Minutes.
You can watch all about it here:
Or listen to this audio here.
In Summary: The psychopathic morons at the Fed print, the banks profit off loaning money into existence, and we and our kids are forever enslaved to debt and have to suffer as the purchasing power of the dollar drops to zero and our wages stay flat (see image below).
Source: Zerohedge
Don't think for a second that *535 psychopaths in Congress will impoverish themselves to fix the system. I use the Mac on my desk more than the PC on my desk for a good reason. People can bash Jobs all they want for being passionate. Microsoft & Congress need more passionate people.
My wife learned a lot at college, and I learned a lot from her. Except when it came to programming. 99% of her teachers couldn't teach a lick. I had to tutor her. Reading about Steve Jobs' life taught me one valuable lesson: Instinct trumps formal education. Don't forget it. Otherwise, like the Fed, your accolades amount to ****.
