Bernanke's Banana Republic Economics & Currency
Yesterday the Fed cut rates to zero in another failing effort to stay ahead of the Greenspan created depression which is now sweeping the globe. The result was a market rally just like all the earlier intervention rallies except this one only lasted Tuesday afternoon with markets turning lower on Wednesday morning.
At least the Fed can't cut rates below zero as the value of the dollar collapsed following this desperate move by Bernanke. Bernanke, a former waiter at Pedro's South of the Border tourist trap http://www.pedroland.com/ in his hometown of Dillion, SC is making the United States and the dollar look more and more like Mexico today or Argentina in the 1930's under Peron than what the US once was.
While we don't blame him for the depression as this goes to the Greenspan Federal Reserve which should be abolished along with the failed SEC, see http://www.petitiononline.com/mod_perl/signed.cgi?fed together with Wall Street, the GOP and the Democrats; his interventionist policies will doom America and the world to a far longer and more severe depression than would have been the case had he followed the enlightened policies of Ludwig von Mises and the Austrian economists, see http://www.mises.org/
If you want to see the future of America, drive south down Interstate 95 from the New York and Washington Axis cities who created the crisis down to Florida where the crooks and Madoff who "made off" with $50 billion Ponzi scheme. Stop off at South of the Border on the NC/SC border and see what the American economy will look like in a few years.
Looks like Peter Schiff and Ron Paul were right after all.
This is how it looks from Switzerland,
Sion
