Sunday, November 7, 2010

"An ugly chain of events."

In 2002, when the word "deflation" began appearing in the business news, Bernanke gave a speech about deflation. In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money. Control of the means of production for money implies that the government can always avoid deflation by simply issuing more money. He said "The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost." (He referred to a statement made by Milton Friedman about using a "helicopter drop" of money into the economy to fight deflation.) Bernanke's critics have since referred to him as "Helicopter Ben" or to his "helicopter printing press." -- Wikipedia.

"Helicopter Ben" flies again.

The last time Ben flies his helicopter it is going to look like this.

Got rice, beans, ammo and militia?


Taylor H said...

I honestly fear that he'll be taking off very soon...

Anonymous said...

November 11, 2010: A date to watch. The G-20 are meeting in Seoul, So. Korea. This may be the day on which China pulls the plug on any further purchases of US Treasury instruments.

If this happens, watch the house of cards collapse in a very short period of time.

Get ready!

Mike said...

Two things, Mike. My wife's Uncle Slick was on THAT Huey...and it was heavy.
The other chopper I played with as a kid, just like Ben is doing today. May God have mercy on their souls.


Anonymous said...

This sort of helicopter looks like it might be as useful to tech savy 3%s as to the Fed: