Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Perhaps Bernanke And Geithner Should Try Acting?

Politics / Central Banks Nov 20, 2010 - 06:49 AM GMT

By: Richard_J_Greene

Politics

When Ronald Reagan became President of the United States some people were surprised that an actor could reach such a high level of government service. Do you think maybe it could work in reverse and that these two in government "service", Ben Bernanke and Timothy Geithner, could make it in the acting business? They certainly have had some on the job training and I guess you could say their ongoing screen tests have passed with flying colors.


Most recently, Geithner stated, "It is very important for people to understand that the United States of America and no country around the world can devalue their way to prosperity, to (be) competitive" and "It is not a viable strategy and we will not engage in it." His ability to voice these words with a straight face, admittedly, was most impressive yet the fact that the Federal Reserve has been employing this strategy for the past 97 years with the American people remaining oblivious, take a little away from his performance. Apparently Americans believe professional wrestling is the real deal also. Yet Geithner has every reason to remain optimistic because if the American people ever wise up Geithner's performance before Chinese college students should still give him hope. When Geithner proclaimed in a speech to Chinese university students that the US believes in a strong dollar policy they literally laughed him off the stage which bodes well for Geithner's possibilities as a comedic actor. He could easily be the next Steve Martin or John Candy. Maybe even Abbott & Costello as Bernanke has shown outstanding ability as a straight man.

Bernanke plays the worried public servant, stressing out over deflation while at the same time tripling the money supply over a few years. He keeps a cool front over the pent-up hyperinflation he has been instrumental in achieving. This is because he knows it will not happen yet because the latest $2.5 trillion in deficit spending and $600 billion in quantitative easing (monetization) that he has created has gone straight into the pockets of his crony bankster masters. He knows they will withhold from unleashing their booty until Ben and Timmy have completed their task of complete destruction of the US economic landscape so his masters can be assured of rock bottom prices when they open their wallets.

Hollywood readies itself for the final screen test; when Ben reacts to the complete and utter breakdown of the economy. The line: "Gee, I didn't think that would happen." Followed by: "I printed way more money than that guy in the 30's depression did." If he isn't lynched, which gauging by the intellect of the average American he will not be; then he's on his way to Hollywood! I would lean toward their success in the comedy field, however, because Geithner, being a quick study, already has it so nailed that in his screen test he merely has to utter the words "strong dollar" in just about any skit you can come up with to be a shoo-in for howling laughter.

Just don't ask any tough questions about how printing unlimited amounts of money and lowering interest rates to sharply negative real rates have anything to do with a strong currency. They will probably be judged by the movie studios on how surprised and perplexed they are that the economy imploded. Geithner: But how did that happen?

The best part: their bankster friends will have all the money left on the planet to fund a ten movie package where Bernanke (the straight man) feeds Geithner the set up to the punch line: A strong dollar! AAHAAHAAHAAHAA!! While the films never catch on in America, the Chinese think they're a howl - something like the Frenchmen's admiration for Jerry Lewis.

In truth it is truly difficult to judge their acting ability because the American public is so gullible and uneducated on economic and money matters that it is like trying to judge if you are a great actor while you have convinced a three year old that there really is a Santa. Just look at how the media and Wall Street react to the tragic economies of Greece and now Ireland. Just when it is lights out for the dollar suddenly Ireland implodes which again is jumped on by the media as everyone pulls their funding, which in turn blows up the Euro (as it would any country in the Euro as they're all massively leveraged) so that the dollar holds on in relative terms. This cycle will repeat until one by one each country in the Euro blows or threatens to blow just as the dollar is again ready to plummet. The morons on CNBC think it's just another coincidence. .....And by the way QE1 never ended and the banks don't need a $600 billion stimulus package to buy bonds that no one else will buy. They already had the power to borrow unlimited amounts of paper into existence for this purpose for over a decade.

On the other hand maybe Bernanke and Geithner don't believe they're actually doing anything wrong. They must feel that with such a stooge for an audience it certainly could not be wrong to remove as much money as humanly possible from them for educational purposes.

By Richard J. Greene
http://www.thundercapital.com

© 2010 Richard J. Greene
Richard is Managing Partner, Portfolio Manager of Thunder Capital Management. Richard graduated from St. Leo College, received his MBA in Finance, Management and International Business from the University of South Florida and is a Chartered Financial Analyst (CFA).

Thunder Capital Management LLC was founded in July of 1999 with the mission of creating wealth while preserving capital. Founder and Portfolio Manager Richard Greene, who utilizes his unique combination of expertise and experience in a wide range of markets, industries and investment vehicles, oversees all investment activities of the firm.

This article is made available for informational purposes only and is not intended to be an offer to sell or the solicitation of an offer to buy interests in any fund. Such an offer will only be made upon the delivery of a confidential offering memorandum which are available to pre-qualified persons on request.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in