The stock market was up 1.55% yesterday on the news of never ending quantitative easing by Ben Bernanke. While this admission of failure by the Federal Reserve’s policies in conjunction with an impotent Congress is being seen as good news by a complicit media, what is the reality?
The devaluation of the dollar is shown above by more than offsets in energy: up 1.77% overnight.
Gold is up 2.02% due to a combination of the dollar’s devaluation and the flight to safety from fiat currencies.
Silver is up 4.36% mainly because most people cannot afford to buy gold.
So the gains in the market (your portfolio) did not keep up with commodities or the real impact of hyperinflation. Have you seen the price of food lately. The actions of the Federal Reserve have devalued the USD 35% since 2003. What are we working for? The fruits of our labor are being redistributed to buy votes to implement a Socialist form of government (at a minimum). What is this round of quantitative easing’s goal? Ben Bernanke will be buying $40 billion worth of mortgage backed securities every month until the economic collapse. This means the money will be used to give people reduced or free homes. In other words, we are buying houses for other people so that they can vote for Socialism.
And what is Congress doing? The House voted to approve yet another continuing resolution for six months at a higher level of spending than the current “budget”. This puts them past the elections and the inauguration.
David DeGerolamo
