Meanwhile, the hapless Confetti believes his is power to export inflation ad infinitum. However, already is [emerging market] evidence this power is at grave risk of being vanquished. Let's just say Team Fraud is hard pressed to instill the Japanese kamikaze spirit everywhere it need be. Nevertheless, wherever the efficacy of suicide can be preached, the Ivy League academic is on the beat. Mush heads in the U.S. Congress evidently just can't get enough of Confetti's plan to kill the American republic, and most emphatically its citizenry.
We might ask why it is the American people tolerate the likes. Yet the truth of the matter is they don't. Their opposing stand against rampant corruption still being perpetuated by this Fed and the Congress animating it rather more or less remains harmonious with that registered in '08 when, by a 100-1 majority, American citizens voiced their strong opposition to the opening salvo of bailout initiatives swindled via TARP. This opposition without question remains intact.
For now we can overlook how swindle, as ruling class policy, is being cynically perpetuated via Dodd-Frank title II provision legislating bail-in. Current rage against rampant financial corruption rather rightly is directed at the Fed's selective accommodation. To wit, how is it Morgan Stanley's portfolio of mortgage backed garbage is bailed out whereas the City of Detroit is left twisting in the wind? The gall of Confetti to claim before the House Financial Services Committee on Wednesday, July 17th, that Fed policy does not favor Wall Street over Main Street! OUTRAGEOUS!
It's not enough, though, the prick spits on Main St. He proposes trashing the U.S. Treasury with his policy advocating a 2% inflation rate. I'm sorry, but inflation in any form whatsoever is intolerable. It simply is incompetent, criminal policy and should be called out as such, if not by a captive Congress, then by private citizens with absolutely nothing to lose rejecting anything and everything legitimizing theft.
"How, Mr. Chairman, does this 2% inflation target venture supporting the U.S. dollar's exchange rate value? Who among foreign holders of U.S. Treasury debt is not likewise similarly encouraged to engage in the same 'beggar my neighbor' policy as the Fed is promoting here? Does the Fed not risk the U.S. dollar's collapse at some presently unforeseen threshold in the unfolding dynamic involving extraordinary central bank intervention in capital markets across the globe, this when some other nation, or group of nations in concert, finds wisdom resisting the Fed's "beggar my neighbor" policy? What part of present circumstance making today's financial environment still 'fragile,' as you describe it, does threat of increasing foreign revulsion of dollar-denominated financial assets whose purchasing power is purposely being depreciated by the Fed enter into the Fed's concerns, this as potentially impacts the U.S. dollar's exchange rate value in particular?"
The simple fact of the matter is, if the Fed is not acting to strengthen the U.S. dollar, then oft' leveled charges of the institution's unconstitutionality become entirely legitimate. If the central bank is not acting to strengthen the U.S. dollar, then it is promoting enslavement of the U.S. labor force and threatening the very solvency of the U.S. Treasury, as well. It's that simple, folks, and the incompetent Confetti need be called out.
Yet even better than ability to list problems is determination to force solutions. Nationalize the Fed, and direct it to invest in Main Street in such a way as effectively leverages the greatest asset any nation has: the creative, productive capacity of its people. That's the path to full employment, and if anyone in Congress begs to differ, then send them to work for the shareholders of scam artists promoting slave labor. Anyone in Congress acting to perpetuate the authority of the Federal Reserve as presently directed is promoting the same, and so, really, is nothing but a subversive. These, too, need be called out, and sent to work anywhere but the U.S. Congress.
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