Should we just assume that Barack Obama is going to do everything wrong? Today he renominated “Helicopter” Ben Bernanke for another term as chairman of the Federal Reserve. By doing so, Obama has put his big, fat stamp of approval on incredibly stupid monetary policies that are pulverizing the once powerful U.S. economy into oblivion.
Not that Barack Obama or anyone else in the U.S. government has much control over the Federal Reserve at all. You see, the “Federal Reserve” is about as “federal” as Federal Express is. It is a private central bank owned and operated for profit by the international central bankers that own or control most of the other central banks around the world.
If you do not know this yet, here is a shocker for you…..the currency and the money supply of the United States is not controlled by the U.S. government. It is managed and manipulated by a cabal of elite international bankers in order to make themselves as much money as possible.
Not that Obama ever even pretended that he was going to stand up to these bankers. The instant that he nominated Timothy Geithner (the head of the New York Fed – the most important branch) to be the treasury secretary, it was apparent that Obama was in bed with the (Read More...)