This page has been archived and commenting is disabled.
Sheila Bair's Modest Proposal To Fix Everything: Hyperinflation
This one is actually quite funny, although we feel that the MMTers, the Neo-Keynesians, the Econ 101 textbook fanatics, and the government apparatchiks out there will fail to appreciate the humor. However, we are a little concerned how many of those in charge read into this a little too much, and decide to make this official policy...
From the Washington Post:
Fix income inequality with $10 million loans for everyone!
By Sheila Bair, Published: April 13
Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? I’ve got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserve’s easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.
For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.
So why not let everyone participate?
Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million. Or if Greece is a little too risky for you, go with Portugal, at about 12 percent, or $1.2 million dollars a year. (No sense in getting greedy.)
Think of what we can do with all that money. We can pay off our underwater mortgages and replenish our retirement accounts without spending one day schlepping into the office. With a few quick keystrokes, we’ll be golden for the next 10 years.
Of course, we will have to persuade Congress to pass a law authorizing all this Fed lending, but that shouldn’t be hard. Congress is really good at spending money, so long as lawmakers don’t have to come up with a way to pay for it. Just look at the way the Democrats agreed to extend the Bush tax cuts if the Republicans agreed to cut Social Security taxes and extend unemployment benefits. Who says bipartisanship is dead?
And while that deal blew bigger holes in the deficit, my proposal won’t cost taxpayers anything because the Fed is just going to print the money. All we need is about $1,200 trillion, or $10 million for 120 million households. We will all cross our hearts and promise to pay the money back in full after 10 years so the Fed won’t lose any dough. It can hold our Portuguese debt as collateral just to make sure.
Because we will be making money in basically the same way as hedge fund managers, we should have to pay only 15 percent in taxes, just like they do. And since we will be earning money through investments, not work, we won’t have to pay Social Security taxes or Medicare premiums. That means no more money will go into these programs, but so what? No one will need them anymore, with all the cash we’ll be raking in thanks to our cheap loans from the Fed.
Come to think of it, by getting rid of work, we can eliminate a lot of government programs. For instance, who needs unemployment benefits and job retraining when everyone has joined the investor class? And forget the trade deficit. Heck, we want those foreign workers to keep providing us with goods and services.
We can stop worrying about education, too. Who needs to understand the value of pi or the history of civilization when all you have to do to make a living is order up a few trades? Let the kids stay home with us. They can play video games while we pop bonbons and watch the soaps and talk shows. The liberals will love this plan because it reduces income inequality; the conservatives will love it because it promotes family time.
I’m really excited! This is the best American financial innovation since liar loans and pick-a-payment mortgages. I can’t wait to get my super PAC started to help candidates who support this important cause. I think I will call my proposal the “Get Rid of Employment and Education Directive.”
Some may worry about inflation and long-term stability under my proposal. I say they lack faith in our country. So what if it cost 50 billion marks to mail a letter when the German central bank tried printing money to pay idle workers in 1923?
That couldn’t happen here. This is America. Why should hedge funds and big financial institutions get all the goodies?
Look out 1 percent, here we come.
»
- 34636 reads
- Printer-friendly version
- Send to friend
- advertisements -
The white guys don't stand out on Saba.
But it is a LOAN! You have to pay it back ! Think of all the hard working prople who rely on
not being cheated . So be prudent and invest it in Portugal Bonds, greek bonds or something
rocksolid like that ...
Pay it back???
Shurely shome mistake......
you really think by the time 10m gets to you, the ticket to Barbados will be less than $10m?
Think of all the PM's and land you could buy, at least at first.
The definition of " at first" could only mean that the algos and HFT ' s could get some of it at " reasonable" prices. By day 2 ( at best ) , you would get the same physical amount of PM with your $10mm that you would have been able to buy two days previously.
True, but what percentage of the "mopes and dopes" would sink it all into paper PMs. There's a fool born every nanosecond.
Why would this cause hyperinflation? Krugman said inflation will never happen in a depressed economy, EVAR!
wew...
she was being sarcastic... thanx god
alx
Reading this satire made me laugh but also made me angry once again about the big banks getting free money while the rest of us are subject to the FED's war on saving. What is really maddening is when the lamestream media and CNBC anchors slobber praise all over Jamie Dimon for earning profits at JPM. I could take free money from the FED and turn a profit. There is nothing special about what Dimon is doing. A chimpanzee could be trained to run JPM when the FED is sending them money hand-over-fist.
But would the chimpanzee be willing to lower his ethical standards?
He wouldn't need to lower his ethical standards if he was already a member of the Kosher Nostra.
two chicks at the same time, man
That's what it would take for two chicks to double up on a guy like me.
Silver is the investment of our lifetimes!
A great idea with only one condition. Give me my 10 mil first, before any of you guys, so I can buy gold with it before you. Seriously, is this a joke of a trial balloon?
Think what the world would be like if 4 years ago....instead of bailing out Wall Street...Uncle Sam just paid off 1 mortgage for every one. The catch being that you could only own one house, apartment, condo, etc. We would still as a country be 6 trillion more in debt but the slaves would be free from their evil masters in Washington and Wall Street. It brings the movie Braveheart to my mind. FREEEEEEEEEEEEEEEEEEEEEEEEDOM. I guess we decided to chose the path that some heads will need to be cut off to get some freedom. Shame it will be the heads of slaves and not the heads of the good ole boys clubs on Wall Street.
Sure, at some point each American household could indeed borrow $10 million from the Fed at zero interest.
Of course at that point the Big Mac will cost around $5000.
Hey, I'm okay with that. I'm already prepared for hyperinflation...lol. Are you? ;)
hint: Precious Metals
thats ok, they're unhealthy anyway...how much will sushi cost?
At least 20 current AAPL shares.
.
The price of sushi will be inversely proportional to the becquerels per kilogram.
No problemo. The ciggies can cost $50K a pack too. Just make sure I don't have to pay more than $4 a gallon for my gasoline.
Are you sure the date is right .... April 13th. ?
Searched the article for the 1st. April ... no date shown there !
This would be funny if we weren' t already somewhat down the road in this direction.
Speaking of 'The Road', that's exactly where we're headed.
Cormac McCarthy is a prophet.
Assuming there would be a free market, less regulation, and lower taxes, ironically this could be less damaging than what we have now.
Why not? Fantasy after fantasy.
Here's something else.
Let's US citizen middle class that figure out they simply no longer make it in US citizen societies due to the gigantic drain on resources a US citizen middle class generates liquidate their assets in US citizen land, take the money and relocate in a second or third world country where they can buy themselves a standard of life US citizen middle class think they are entitled to.
Restart America out of the reach of the big bad invasive US citizen government or something like that.
Well, US citizen unemployed youth and pensioners are already figuring out the US citizen solution.
Just let US citizen middle class do the same.
Solve everything. US citizens who are legitimate in US citizen land will enjoy the fruits of their hard earned loot without the relentless recriminations of the losers while that too much of US citizens, having grown useless and having failed to make it up to the ranks of the legitimate US citizens, will be given another paradise to thrive in and spread the lights of US citizens. Settlers time back, the fabled past restored and all...
You have good intetntions and ideas, but fail to recognize that there are no U.S. citizens. Read the federal Reserve Act and subsequent amendments, there are only tenants of the Corporation of the United States of America - and by de facto, The Federal Reserve Bank.
Should the U.S. tenant not be unable to pay their debts, all assets, existing resources, land, IP, everything, belongs to a private banking cartel.
There simply is no spoon, hedge accordingly.
Hope you get to share a cell with a like-minded tax protestor so you can jointly figure out where the rule of law let you down.
Where did I ever say I don't pay taxes (I do look for the appropriate rates on my financial activity)? Are you responding to my comment, which had nothing to do with taxes? Moreover, what the fuck makes you think that you won't be imprisioned first? FAIL.
Because they'll drone me first.
Damn, I'd take the drone over the cell too.
Funny how Law today are being used as an obstacle to JUSTICE instead of INJUSTICE.
US citizens ('Americans') are proponents of US citizenism ('Americanism')
The private banking cartel is run by 'Americans'
As to failing to recognize basic facts, I bow down to the superb and superhuman ability exhibited by US citizens.
For once you have it right, Charlie. We are Gods among men and you shall fear us and bow before us.
And I bow down to the superb and superhuman ability exhibited by chinese citizenism citizens to publicly spit on each other, pick their noses, and shit on the side of the roads with utterly no shame or self-consciousnesss.
But nothing less is to be expected from lemming-like, rabbit-breeding, quasi-animal chinese citizenism citizens. They are merely ants with two legs instead of six.
This particular troll is a real fucking blowhard isn't he akak?
He is an autistic and bigoted collectivist with delusions of intelligence.
Troll of trolls he is
Surely the less advanced people of the world are humbled by the enlightenment and the maturity of the Progressive Americans. ;)
Dup.
AnAnonymous said:
Ah, ah, nothing like Chinese citizenism to stating what is obvious. You every day are praising US citizenism, endorsing its virtues, advocating its spread.
Somehow not a surprising something to those who hear you daily singing the praises of US citizenism.
A song of profound profundity...
I would just shorten that to: tenants of The Federal Reserve Bank, a private corporation.
Yeah, except that the US reserves the right to tax its citizens anywhere in the world and to tax its former citizens for up to 10 years after giving up citizenship. So much for the benefits of US Citizenism.
But hey, it might be refreshing to see a lot of the former serfs working in third-world sweat-shops making fat-assed blue jeans for their former Compatriots back in the homeland rather than crying on the lamestream media about how they can no longer afford to fill their Escalades.
Boy, you sure do use the phrase "US citizen" a lot.
You mad, homie?
No, our chinese dishwasher friend is not mad, merely bigoted in the most ragingly collectivist manner conceivable.
PS: If you are in need of a good laugh, ask him how his nonsensical "US Citizenism" was responsible for the collapse of the Easter Islanders' society in the 1600s --- over 100 years BEFORE the United States even become a nation!
Time-traveling US Citizens: make me laugh!
Our dog eating chinese troll can't help it akak, he is just another Eunuch that serves his masters.
According to ancient Chinese citizenism fabled past, population was greatly sunk by inventioning Ben Franklinism, who made time traveling rickshaw to George Washington for theft of Easter Island resources.
When US citizenism having completed resource thefting from distant past to 1776,July,4th, Federalist Alexander Hamiltonianism conspiracy sent time traveling rickshaw back for melting down.
Population sinking was resultant from Three Mile Easter Island. According to circonvolutionated Chinese citizenism offuscation.
But hey, history, ethics, idealism, mettle. All is flexible in Chinese citizenism.
Unjust idealistic people do not get away with their unjust actions de facto, but can rely on one Chinese citizenism citizen to manipulate that basic fact to impose his dominatrix ideal that Mongolian citizens have been somehow naive.
Kicking the can... Chinese citizenism olympic event.
She's been Sweded.
(Be Kind, Rewind)
Whats good for the goose is good for the gander.
This would be an awesome way to end TBTF. Absolutely awesome.
Now some bright American needs to form a 3rd party ASAP, with this op-ed as its SOLE platform.
My bet is they would win the election!!!!!
sounds like a sure-fire way to get suicided. where do i sign up?
Sheila Bair is the man!
Come on people wheelbarrows are sooooooooo 1920s. Smart phones with that bar scanner, buying technology.
Black Hawk Ben downloads pixel trillions, quadbazillions, googleplexes of bucks every night to your smart phone. You go about you business the very next day.
I mean, what could possibly go wrong?
shit I'm super treble long wheelbarrows...all for nothing if ppl can walk around with trillions of bucks on their smartphones
You'll do fine. It'll be in wheelbarrows by the end of it, don't you doubt it. 64bits only get you so many zeros.
I just opened my wallet and added ten extra zeros to all my hundred dollar bills. That should hold me till tomorrow morning
Get Rid of Employment and Education Directive
as acronyms go this is as good as it gets
I'd like to order the Big Mac Meal for $2,299.00 please.
Wanna go large for just $850 more?
I have 2 kids -- make it for 12 million and I'm in.
Using this one weird trick in Texas I made 1.2 trillion a day from my computer.
This plan works because we'll actually make money on the deal. Conservative estimates have it at around 15 trillion in service fees. That alone would pay off the debt.
Let us give hyperinflation an academic and at the same time encouraging name, first suggestions:
- homeland wealth adjustment
- financial asset restructuring
- monetary enhancement
- ...
Corzined Dimunation.
Quantatative diseasing
Yuantitative queasing.
Confiscative queefing.
transitory wealth expansion adjustment.
National growth in nominal fortune advancement
Would the "loan" be dischargable?
sschu
Easily. The next month, after you've spent the 10 mil on gas and a few burgers, they'll loan you 10 billion because you're such a good credit risk.
Don't forget to pay off last month's loan or the following month things won't be pretty.
Too bad nobody listened to her seriousness at FDIC. Geithner neutered her, then she brought bank closings on Fridays almost to a halt, then she left- PRAISING THE BANKS FOR THEIR SOLVENCY! Sheila, you're a CON. A f-ing sell-out, like the rest. When's the book tour?
Maybe the government issue 'babysitters' for her kids influenced her world view?
There was this small problem with the bank closings. The FDIC needed money. Lots and lots of money. They were 8B in the red around the time Ms. Bair left.
Anyone who has read ZH in the past for sometime, would have a knee-jerk reaction of "That was no accident" that the FDIC had no money. The Govt told us the FDIC would be able to borrow 500B from the treasury until of course the treasury could only find the one buyer for the bonds needed, the fed, who quickly killed that off with : "We aren't here to bail-out little people. Understand?"
I imagine Ms. Bair stayed silent because the last thing jumpy America needed to hear was what she just wrote but with less syllables and external references.
Dear Taxpayers, Tax-cheats, and real Americans.
"We're fucking broke bitchez. That FDIC sticker can now be bought in rolls of toilet paper because that's the only way we're gonna get funded. That means your deposits have less protection than teenagers going on their first grand-slam of sex. For you sub-80s? That means, your deposits are being used for sex, drugs and derivatives and if you all asked for your money all at once, the banks would close much faster than the plant you used to work at or that cheap Good Will suit.
You've been had bitches. The having is coming.
Sheila Bair
Former head of the FDIC which is now changed it's mission a bit to the Federal Deposit Corporation to insure the 1% .
Always prudent to have a little fiat laying around the house.
If the Market collapsed and the Banks went on Holiday. There could be big problems.
What happens if you can not access your Money in the Bank? How will you pay your Mortgages, Car loans etc. If your Money is tied up long enough the Banks could start to repossess your Real Estate, Cars etc. What could you do about it?
Think about what happened with MF Global. If your Money was tied up there it could take years to get it back. Same with the S&L Crisis it took 3 years for people to get their Money back.
How can you continue to pay your Secured Debts for your House or Car without cash on hand. FDIC may eventually give you your Money back but WHEN? Same with your Brokerage Accounts. Will you lose everything before that happens thru Forclosure or repo? That is the question.
That is why I always have Cash laying around.
If the banks are closed, they couldn't possibly expect you to pay a car note or a mortgage payment. They are closed, the other banks are closed. Payments to banks will be the least of your problems.
The real issue will be: What will anybody else accept as payment for food and energy? Will the repo men accept fiat from the banksters to reposses your car? Will the farmer take worthless paper for his valuable food?
The quote from the book "The Death of Money" about Weimar hyperinflation that got my attention the most, was German farmers refusing to sell food for what they called "Jew Confetti" - paper Marks. If it gets to that point, your mortgage payment will be the least of your worries. Beans and bullets are the only things that will be important..... Spend a few minutes thinking through the implications.
and THAT's why I have Silver laying around
Genius. Buckle Up cuz congress might bite with this one cuz it's very much the same logic they've been doin since the crash of 08'. Why the bankers should monopolize who should have fun, masses must be included and we'd all be rich! Just print the G'damn money Bernie! Just press the zero key and add at will.
ill go for greece.... they wont default... its about time i enjoy my life and have a menaja twuh'
Zerohedge version of the the Sunday funnies.
Tell you what, I'll settle for a $10 processing fee plus $4.95 S&H fees for each of these loans that I help originate ... I'd simply extend the loan by sending out pre-approved credit cards to tens of millions of households, just like the good old days of the 2000's.
Plus ça change ....
Rolling loans gather no loss.
The solution to polution is dilution.
No, the solution to pollution is .... ship it to China!
The problem is that they roll it up into cheap crap and ship it back to us to buy at Wal-Mart.
You can say that down is up and up is down, but gravity will be the final and true arbiter....
Congress should pass a law reducing gravity by at least 50%. I'd really like to be able to dunk a basketball without a ladder.
Sing along.......
America......
Fuck yeah....
Coming to save
The motherfukin day yeah....
K@
Actually her argument is more or less accurate. Why cant all of us borrow money at 0%? Its a joke really.
Fuck that, if we all just put our hundred dollar bills in our copy machines and pressed the print button, we could pay off the national debt by tomorrow morning...
Fuck this borrow shit...
Hell, we all have computers and copy machines...
What are they going to do, arrest all of us tomorrow afternoon?
*professional sarcasm, do not try this at home
they will put you in jail
Bring me back ($500 bill) and save ink and paper (or even better, do it all digitally)
Good article, because it clearly shows how the predators DBA government are force-feeding financial institutions with trillions in unearned profits. Hopefully it also shows how the current authoritarian system does not and can not work, though that might require an IQ over 80, which is becoming rather rare lately.
I love this idea because once it was put into play and the resulting juggernaut hyperinflation hit, the people would finally realize the plain simple truth.
FRN's are just paper, and are only worth what the central banks their government parasites pointing a gun at your head while bleeding you of your wealth, dignity and individualism say they are.
destroy the bankster ponzi instrument of debt enslavement, the fiat currency, and save the Republic, maybe the world.
I like it, of course it will never happen this way the PTB's will fight to preserve, protect, expand and enforce their myopic, greed driven, psychopathic world view to the bitter end.
and it will be a very bitter end indeed.
Maybe the world?
But the US of A has been on the good side of the fiat USD ponzi, not on the wrong.
The US has grown incredibly richer thanks to the USD ponzi.
Now, because you do not perceive your share of the loot, jumping to the conclusion...
All americans and all people world wide would be better off without the ponziticians. There is no good side to a Ponzi scam. The only winners are the central bankers. Until now. Now that even the ponzimasters have been thoroughly ponzied (see Las Vegas) and are looking to cook some central banker meat. 1% central banker tacos
.
////////////////////////////////////////////////////////////////////////////////
But the governing elite of the US of A has been on the good side of the fiat USD ponzi, not on the wrong.
The governing elite of the US has grown incredibly richer thanks to the USD ponzi.
You would do well to not lump the victims in with the criminals, and damn them all indescriminately --- but to a blind and bigoted collectivist such as yourself, such obvious distinctions are clearly beyond the reach of your limited nose-picking intellect.
as always whoever gets the new printed money the quickest , will be the winners
You can only hope there will still be printed money so that you have something to burn to heat your McMansion during the long, cold winters ahead.
<-- Great idea
<-- GREATEST idea
Is that Barney-the-Dinosaur gone Kony2012-Creator on us?
It looks like a Sesame Street character whacking off, lol.
Power to the Muppets!
only $10m ?
Great exercise in Mental Masterbation for a Sunday. How you would spend or invest the Money. How others would spend or invest the Money. What would eventually happen to the economy if everyone was able to do what the Banks do.
What would happen if everyone paid off their loans to the Banks?
What would happen if people spent the Money into the economy?
What would happen if people invested the Money overseas, like our Major Corporations and not in the United States? Then kept the revenues and principal overseas and did not retrun the Money or profit to the US.
So much fun thinking about the possibilities.
I'd buy up Detroit and turn it into a theme park. Then, with the remaining $9.9 million, I would ....
You could name it Haunted Factorys and give people rides on the conveyor belts used for cars. Great idea.
But in all seriousness why do they not turn some of those old Factorys into Homeless shelters for all of the prior workers?
I am typing this as I am looking at an add for Silo Point in Baltimore where they turned a Grain Factory into exclusive Condos that run form $300,000. to over a Million.
My Detroit theme-park will be called something like the Tragical Kingdom (sorry No Doubt) ... in factories in one corner of the city, I will start a company to do solar & wind powered vehicles that will be used to take park-vistors around from attraction to attraction. I will apply to DOE & DOT for a couple billion dollars in loan guarantees. Then I will take an old factory or two and use those to house the homeless people I will hire and train to build those vehicles; for that I will apply to DOL and HHS ... maybe VA too, since a lot of the homeless are shattered war veterans ... for grants and further guarantees. To cap it all, I will get Michigan to give me the payroll taxes they would have collected from those workers as a concession for my investments in their new jobs.
A chicken in every pot
A PRINTING PRESS IN EVERY GARAGE!
why not right?
it's all counterfeit anyways...
Since Bernanke has been president for 3 1/2 yrs now, it's been going that way anyways...
This is happening right now, on a daily basis and right under our nose; it's just that the billions being printed are going to the banking cartel!
thnx for the heads-up Sheila.
I'm with Bair but she is only saying decent things because the noose must be tightening around that bunch of crooks in DC. They won't do anything until you cut into the soft underbelly of their future interests. Such astounding comments indicates somethings a brewing.
I thought so too.
Yep - and the DHS buying 400,000,000 rounds of .40 cal ammo makes me think they've been monitoring the blogs and sense the mobs have taken the red pill.
Apparently they plan to use pistols to keep us under control.
That's nearly 2 rounds for each American man, woman and child.
this could actually work if designed correctly. the 10 mil could go into an account marked for future bond purchases bearing interest at the current 10 year rate. the account can be kept off the books so it won't affect current accounting. since no usa citizen is working chinese workers could be imported to take care of all necessary employment(cops, firemen, restaurant and hotel workers) and have their wages paid in yuan. the chinese would love it because they have another source of employment for their people and inflation would be directly exported to a country that has a lot more room to absorb it.
i am sure the chinese have thought of this and are probably planning to implement it as soon as they can but i think they will leave the ten mil out of the picture.....and the workers will probably be former citizens of the usa because the country will be another province of china known as china town.
If you want to hurt the chinese central bankers, just send them our building dept and planning commision.
Their entire economy will come to a permanent standstill
Use a search engine to find - U.S. Chinese special enterprise zones.
These manufacturing zones on U.S. soil will both supply housing and employment for chinese only.
Save on shipping to WalMart.
Why do I get the feeling a version of this is coming?
Posts were made on something like this before.
One was to issue $1 Million to everyone and automatically Deduct for any Mortgage and Student Loan Outstanding.
The other, which also addresses Foreign Debt is to call in all Current Dollars, issue New USDs, and these New Dollars be at 100 to 1, kind of like a YEN.
Internally Inflation stays the same, since everyone's Pay also goes up by two decimal points, $700 Current Weekly Pay becomes $70,000, and of course that $3 loaf of bread becomes $300, etc.....US Debt becomes 1/100th of what it is today, its still USDs after all
ALL Mortgages and ALL Student Loans stay FIXED at Current USDs, yet Payable with New USDs. This ends the Mortgage problem and everyone with a Mortgage Benefits, not only those with a problem mortgage---FAIR.
She is going to end up in a prison camp in Siberia...
she's going to end up in a lunatic asylum along with all the other deranged village idiots like Paul Krugman and Ben Bernanke that think pissing worthless pieces of paper around the economy equals productivity
God help the Doctors that have to listen to these dribbling retards
Since most of you Fellas are Extreme Nihilists, you'd think you would welcome a return to Weimar.
Life is a cabaret, my dear!
hard to believe that someone w/ almost 2 years on the site thinks poeple who work together to avoid propaganda effects and reactions are "extreme nihilists"
or that sound money = "a return to weimer"
pms?
We have now entered the Weimar Zone
fasten your seatbelts and release the oxygen mask form its compartment
Ha ha ha, not.
This would be funny if it wasn't so damn tragic and exactly what's about to happen.
my only reservation about the proposal is that it is a tad too modest. we live in an era not measured by millions - but by trillions. accordingly, we should adjust the loan ceiling to that level.
Isn't this essentially what we are doing but only by proxy? If the Fed prints, we're all liable. The only difference is, we don't recieve a direct benefit. Sheila's plan ensures that we all benefit. "From each according to his abilities, to each according to his needs" will need to be rebranded to, "Ass, cash or grass. No one eats for free".
I want's my 10,000,000!!
and I want's it now.
LOL,
You can bet Bernanke and Bair already discussed to hyperinflate.
WHen Keynesian economics fails we revert to Zimbabwe economics!
Bair,Bernanke, Dudley and Yellen's plan:
1.) Get DOW to 52,000
2.) Gas to 20.00/gal
3.) 18.00 for a loaf of bread.
For the final plan, hyperventilation.
I don't think these looter criminals should do jail time. I'd rather see those responsible for the fraud and crime to be placed on "Work Release" programs.
They should be put into minimum wage jobs (part-time employment), not allowed to receive pay raises, no benefits, and be required to live only on these wages....for about a 20 year sentence. They get no help from the outside: family, friends, religious affiliations, etc., although they can apply for section 8 housing in a low income neighborhood. Being homeless would give them the chance to escape, so low income housing would be the best bet.
I don't eat at McDonalds, but if I discovered that Ben Bernanke was working there for his work release program, I'd go in every day....So many businesses would want to hire these criminals because it would increase business.
This is NOT an absurd idea. The last emporer of China, ended up living his last years as a poor gardener, and he wasn't even a criminal!
There's a British Author called Sue Townsend who wrote a book called "The Queen & I". The plot:
"THE MONARCHY HAS BEEN DISMANTLED
When a Republican party wins the General Election, their first act in power is to strip the royal family of their assets andtitles and send them to live on a housing estate in the Midlands.
Exchanging Buckingham Palace for a two-bedroomed semi in Hell Close (as the locals dub it), caviar for boiled eggs, servants for a social worker named Trish, the Queen and her family learn what it means to be poor among the great unwashed. But is their breeding sufficient to allow them to rise above their changed circumstance or deep down are they really just like everyone else?"
I hope it comes true one day. ;O)
No they're not like everyone else. The queen will need to have lessons on how to wipe her ass, not to mention the more complex tasks like boiling eggs. We'd get to see if an old dog can actually learn new tricks.
The only thing that "breeding" got them was hemophilia and not having to share the wealth with outsiders.
I'd like to see it too.
Proposal To Fix Everything
Eliminate Central Banks Worldwide and unite with Europe against the NWO.
you don't have to "unite" or even fight the NWO ...all you have to do is cut the suckers off
Stop Paying Your Taxes
...don't feed the suckers
There are quite a few people that have commited crimes to get a roof over their head, three meals a day and health care free.
Great way also to save your assets for your family, especially if you are terminally ill with little or no health insurance. Just make sure you get sent to a Federal Prison.
I guess not paying your Taxes would qualify for a Federal Prison. Just make sure that nothing is in your name.
this is Bruce Krastings favourite regulator, said Bair has done a fine job (if you consider a regulator writing 500x more guarantees than they've got money in the bank 'good')
...little did Brucie know he'd put a gonzo debt loonatic on a pedastal wanting to promote the batty bitch to higher office
Wasn't Sheila Bair one of those who advocated all the Fed's big bank stimulation to save the economy? Now she's upset because all the money went to rich speculators while savers, who used to be the foundation of the banking system, got screwed?
She must be running for office.
The essay is tongue in cheek. Most people won't understand that.
---and then do this
Catherine Austin Fitts: The Looting Of America (FULL)
http://www.youtube.com/watch?v=gP6rny-E1Cw
TRIANGULATION. They adopt your argumentation to shut you up. They claim they're on your side.
I've got a better idea: disband the FDIC. Why do we need it? The Fed is just going to bail them out anyway. Why have smaller banks pay the fee?
They know what they're doing is bullshit. They're trying to pin this on someone other than the government agencies that are implicit in the fraud
Bair: Hint, hint, hint,
Bernake and the fed's final last gasp plan is to hyperinflate (complete loss in the value of the US dollar).
A warning for countries and individuals to dump US dollars ASAP.
One way of bring wages and standard of living to that of a third world country.
Relax, give hyperinflation a chance...
I made $293,376,210 today just working from home.
Check out my link for more info.
http://www.federalreserve.gov/
But were you able to do it in your pajama's? That's the kind of job I'm looking for.
How the hell do they qualify for a .gov domain???