Wednesday, May 12, 2010

Abuse of Money Printing

I think this chart is rather straightforward and absolutely scary in its implications.
To quote directly from the site I got this from:

"Fed Chairman Bernanke is running amok, and for the first time since the birth of the U.S. dollar, our government is egregiously abusing its power to print money.

Specifically, from September 10, 2008 to March 10 of this year, he has increased the nation’s monetary base from $850 billion to $2.1 trillion — an irresponsible, irrational and insane increase of 2.5 times in just 18 months.

It is, by far, the greatest monetary expansion in U.S. history. And you must not underestimate its sweeping historical significance."

If anyone's familiar with the monetary system in, say, Japan or Vietnam, all of their bills practically have at least 5 digits on them. They weren't always like that, and were caused by similar situations where the government printed money at unprecedented rates.

Pretty soon the Chinese are gonna start laughing at how much the U.S. farmers make per hour instead of the other way around /sarcasm

No comments:

Post a Comment