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Why would Bernanke, Moy, et al., want to degrade our money? Who benefits?
The answer is: those who are at the head of the line. Creating an additional $270 million in U.S. currency to give JP Morgan Chase provided that company the means to acquire Bear Stearns. Then the owners of Bear Stearns spend the money on something else, albeit at slightly reduced purchasing-power value.
The effects will continue to ripple outward, gradually diminishing. The amount of goods and services that can be bought with that $270 million must inevitably decline until the nominal value of the currency reaches equilibrium with the actual wealth available in the economy to purchase.
And who will pay? You will -- in the future when you go to draw out the money you put into your 401(k) in today's dollars. Your investment won't be worth as much as it should.
What is amazing is that the public has acquiesced in this money-debasing. It ought to be self-evident that it is impossible to create wealth by making entries in a computer.
One Nevada businessman may have found a way to bring the system crashing down -- he has begun paying employees in those $50 Gold Eagle coins, making their annual salaries well below the threshold for even having to file tax returns. So far, the IRS is helpless to stop it.
Originally posted by Karlhungis
Doesn't it feel like that is the point of what they are doing? It really feels like they are trying to accelerate the decline of the dollar. Perhaps to usher in the Amero, who knows?