When the arm of Government that sells its debt goes and transfers some of that paper onto the books of the arm printing money, in exchange for some of that crisp new printed money, it’s called printing money, and no new debt, in fact exists, nor will any unless and until those specific certificates are sold to an outsider. (Substitute “electronically creating” for “printing” if you’ve graduated from college recently enough to mess with us over it.) Transactions between brother entities wash each other out on daddy’s books. Execs at corporate multinationals could get nabbed for money laundering if they reported the same kind of nonsense the way Washington has been characterizing quantitative easing (QE1 and QE2).
Print money foolishly enough, and prices skyrocket. If the country comes down with a terminal dose of hyperinflation, look for Fed Charlatan Bernanke to replace Alan Greenspan as The Great Enabler, the most hated financial dumbass in the land.
Clearly, the wiseacre would deserve it, for misleading the American people as much as anything. As the prospect of runaway inflation rolls on down the road, closer and closer most every day now, is he throwing us under the seemingly unstoppable bus?
Unstoppable, at least, by the likes of him. Fed Charlatans aren’t hired to help a fiscally irresponsible Congress get reelected. Should the worst happen, he'll go down in History as the man with the spine of a jellyfish.
June 30 will mark the end of his latest round of printing money, a.k.a. quantitative easing, or so he says and if you don't count reinvesting maturing QE bonds, as he let on yesterday.
July 1 will mark the first day of the next round of printing money, but the Charlatan likes to pretend nobody knows that he's printing money and won't tell us what that a.k.a. is going to be until he gets scared we'll find out about the printing money and figures he has to lie to us fools all over again.
Today the Government announced it was releasing 5% of our strategic oil reserve, as if oil prices somehow cause the Fed to print the money that causes the inflation that makes oil prices shoot up about as fast as everything else, only earlier. We're almost wishing for hyperinflation to happen now just to watch that one blow up in the Administration's face.
