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Today's news that the Federal Reserve Chairman will pump $200 billion into the banking industry, while creating a noticable uptick in the Dow, is rife with serious implications.
Once the giddiness wears off, the banks and brokerage firms will be saddled with such an astronomical amount of debt that this move can only be seen as another step in the "orderly decline of the dollar," which is the stated policy of the Bush Administration.
The aggregate bank reserves in the United States were aproximately -$17 billion. That means everything that the banks are using to show liquidity are debt instruments. Adding another $200 billion will not, as Bernanke claims, "promote liquidity," any more than it would to a consumer whos credit card company increased the limit just so that person could pay the bill.
This move also underscores the dangers banks are in, and the Feds move merely confirms that all banks are broke. If they are not propped up, they will fail immediately. The Feds move comes on the heels of an intended rate hike, and can only serve to debase the dollar even more.
Comming on the heals of Ex-Fed Chief Alan Greenspan's calls for OPEC to "de-peg" both it's currency and oil prices from the US Dollar, it seems the language and actions of the Bush Administration and the Federal Reserve, it seems their intentions are to ruin the American economy.
Just the aggregate bank reserves alone are a signal of doom, even without the addition of $200 billion, and is going to have the result of massive inflation. The floodgates have opened, and oil, gas, wheat, and corn, the basic neccesities of every American, now cost more, alot more.
Once We The People are bled dry, what next does the United States Federal Government have in store - martial law?
Once the giddiness wears off, the banks and brokerage firms will be saddled with such an astronomical amount of debt that this move can only be seen as another step in the "orderly decline of the dollar," which is the stated policy of the Bush Administration.
The aggregate bank reserves in the United States were aproximately -$17 billion. That means everything that the banks are using to show liquidity are debt instruments. Adding another $200 billion will not, as Bernanke claims, "promote liquidity," any more than it would to a consumer whos credit card company increased the limit just so that person could pay the bill.
This move also underscores the dangers banks are in, and the Feds move merely confirms that all banks are broke. If they are not propped up, they will fail immediately. The Feds move comes on the heels of an intended rate hike, and can only serve to debase the dollar even more.
Comming on the heals of Ex-Fed Chief Alan Greenspan's calls for OPEC to "de-peg" both it's currency and oil prices from the US Dollar, it seems the language and actions of the Bush Administration and the Federal Reserve, it seems their intentions are to ruin the American economy.
Just the aggregate bank reserves alone are a signal of doom, even without the addition of $200 billion, and is going to have the result of massive inflation. The floodgates have opened, and oil, gas, wheat, and corn, the basic neccesities of every American, now cost more, alot more.
Once We The People are bled dry, what next does the United States Federal Government have in store - martial law?
