Bernanke turned the FED into a Pawn Shop : Jim Rogers

Bernanke turned the FED into a Pawn Shop : Jim Rogers

jimrogers1.blogspot.com...

;D

Jim Rogers : we have a president who is running the federal reserve who does not know what he is doing , we have a very serious problem on our hands and it's gotten much much worse , the man is taking 400 billion dollars four hundreds billion dollars own to the federal reserve balance sheets of dicey loans, bad debt. I mean he is turning the Federal Reserve into a pawn shop...I mean he is turning the federal reserve into a pawn shop ...you have something bad that you cannot sell , take it to the federal reserve he'll lend you treasury bonds against it .

As usual, the guy is spot on. Unfortunately, no one of any importance listens to him. If they did, we wouldn't be in a depression!

This Federal Reserve president knows exactly what he is doing; this is how the Federal Reserve works.

Bad loans, book-cooking and bailouts for failing banks all work to inflate the dollar to incredible proportions which drive up the cost of goods and destroy its purchasing power.

Look at the history of central banking and fiat money and what has happened in the past. This country has had central banks even before the Fed and every time they resulted in massive inflation and destruction of the currency: and every time the bankster parasites built anew, with deception and corruption to continue stealing every ounce of wealth from those beneath them.

[edit on 8/13/2010 by eNumbra]

I hate to say it but in this one case, he is wrong. Pawn shops only give you money for something that is worth something. And much less than it is worth. No pawn shop on earth would have bought those worthless pieces of paper, no matter how sharp the discount, let alone at basically full nominal price.

reply to post by christianpatrick

When I worked in a pawnshop, we used to buy canadian tire money(script) at half face value and then charge 30 points a month fo a customer till they bought it back, and if they didn't buy it back, we would spend it at Canadian tire...

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Obama just signed the financial reform bill which nullifies the input of all the feds, and puts the New York fed in charge of the whole fed system, and created a new entity which doesn't pay taxes and can take over any entity that it feels jeopardizes the US economy...
SEC is now beyond scewtiny...

Pawn shops are not fascist...though, like the fed they are the lender of last resort...
and like the fed which is now buying up american debt, usually the last stop in a financial death spiral.





[edit on 14-8-2010 by Danbones]

The ones who ultimately pays for US debts are not the private banksters from the Fed, or international investors in the treasury bills such as China.

They are the future generations of Americans, who will be enslaved to service such loans. The banksters and international investors will have no qualms sitting on their investments of slavery, nor will their next overfed generations.

The banksters and international investors are sitting on hoarded wealth, more wealth than they could ever do anything productive with it. Think of the printed dollar note that had been created and circulated since 200 years ago, as well as the gold that had been mined for centuries.

Money doesnt disappear into thin air. It is either circulated or hoarded up. And it is hoarded up now, plenty of it by the banksters and international investors. Zillions worth of it if an accounting is allowed.

In order that our next generations not be enslaved, the feds will have to loan at near zero interest. Earning just a bit is more conscionable than to enslave others or to see the wealth becomes nothing but something only to burn and keep warm, ultimately fully disappearing one day.

This is not the best option, but the only option if we are to get out of the rut we are in. And may more of the fine tuned biz acumen but morally upright community leaders step forth to create sustainable salaried jobs. It's perfectly ok for some greed, but not the type we saw yesterday.

Jim Rogers had been a traitor to US and humanity. He was one of those unconcianable greed filled capitalist that had milked pension funders dry and fled to other shores, giving up his US citizenship for another, and while US was in trouble back in 08, he sold and encouraged others publically to sell american dollars, helping to destruct the system entirely when rationality was necessary to figure out what exactly was going on in reality, that no one was aware then, causing needless suffering to billions of mankind.