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View Full Version : "Shut Down the Fed (Part II)"




JohnEngland
09-27-2010, 04:04 PM
More and more people are seeing the light:


I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing.


So all those hillsmen in Idaho, with their Colt 45s and boxes of krugerrands, who sent furious emails to the Telegraph accusing me of defending a hyperinflating establishment cabal were right all along. The Fed is indeed out of control.

The sophisticates at banking conferences in London, Frankfurt, and New York who aplogized for this primitive monetary creationsim – as I did – are the ones who lost the plot.

My apologies. Mercy, for I have sinned against sound money, and therefore against sound politics.


http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100007777/shut-down-the-fed-part-ii/

Inkblots
09-27-2010, 06:38 PM
I was going to create a thread on this, so I'm glad you did. This is actually quite a big deal - the idea of "End the Fed" has now been embraced by a highly respected financial reporter for a major international newspaper who was previously a cheerleader for QE. Having Ambrose Evans-Pritchard on board will only help to advance the idea that central banking is the ultimate cause of our troubles in the eyes of informed investors. And if the financial class is taking Ron Paul's ideas seriously, it will be far harder for the political class to laugh them off.

Epic
09-27-2010, 07:15 PM
This is huge.

Ron Paul owns the "End the Fed" issue even more than the War or Drugs issues. I mean, he has the issue all to himself.

When people come around on monetary policy, he wins. He has to. He's been the only one saying what he's said.

Inkblots
09-28-2010, 12:22 AM
This comment from the Telegraph site hit me like a ton of bricks, because it's completely true, but I don't think I'd ever have thought of it:

"Marc Faber remarked in Abu Dhabi last month that Ben Bernanke was like Hitler with Mein Kampf in that he had written down exactly what he intended to do and nobody believed that he would actually carry it out. Bernanke's writings are very clear. He is 'Helicopter Ben'. This exposes us to the danger of hyperinflation as Marc Faber says."