Sunday, February 13, 2011
The first & foremost objective of The Fed is to pump as much money into The Banks as it possibly can. That is the ONLY objective. Once you see this, then failure to prosecute fraud, the phony irritation that the banks aren't lending or lowering interest rates to customers, all this becomes clear. The Fed doesn't care what China does, they care that we pay our old higher-rate mortgage, and our higher-rate credit cards, because that helps The Banks too. And bail out The Municipalities? Not on your life, they are not banks. Understand that The Fed is a private corporation owned by The Banks, so why do charity work for The Taxpayers? The Benbernanke has only 1 clear mandate, for as long as he's able to get away with it.