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Gold Price Trend Forecast Summer 2019

Perhaps Bernanke And Geithner Should Try Acting?

Politics / Central Banks Nov 20, 2010 - 06:49 AM GMT

By: Richard_J_Greene


When Ronald Reagan became President of the United States some people were surprised that an actor could reach such a high level of government service. Do you think maybe it could work in reverse and that these two in government "service", Ben Bernanke and Timothy Geithner, could make it in the acting business? They certainly have had some on the job training and I guess you could say their ongoing screen tests have passed with flying colors.

Most recently, Geithner stated, "It is very important for people to understand that the United States of America and no country around the world can devalue their way to prosperity, to (be) competitive" and "It is not a viable strategy and we will not engage in it." His ability to voice these words with a straight face, admittedly, was most impressive yet the fact that the Federal Reserve has been employing this strategy for the past 97 years with the American people remaining oblivious, take a little away from his performance. Apparently Americans believe professional wrestling is the real deal also. Yet Geithner has every reason to remain optimistic because if the American people ever wise up Geithner's performance before Chinese college students should still give him hope. When Geithner proclaimed in a speech to Chinese university students that the US believes in a strong dollar policy they literally laughed him off the stage which bodes well for Geithner's possibilities as a comedic actor. He could easily be the next Steve Martin or John Candy. Maybe even Abbott & Costello as Bernanke has shown outstanding ability as a straight man.

Bernanke plays the worried public servant, stressing out over deflation while at the same time tripling the money supply over a few years. He keeps a cool front over the pent-up hyperinflation he has been instrumental in achieving. This is because he knows it will not happen yet because the latest $2.5 trillion in deficit spending and $600 billion in quantitative easing (monetization) that he has created has gone straight into the pockets of his crony bankster masters. He knows they will withhold from unleashing their booty until Ben and Timmy have completed their task of complete destruction of the US economic landscape so his masters can be assured of rock bottom prices when they open their wallets.

Hollywood readies itself for the final screen test; when Ben reacts to the complete and utter breakdown of the economy. The line: "Gee, I didn't think that would happen." Followed by: "I printed way more money than that guy in the 30's depression did." If he isn't lynched, which gauging by the intellect of the average American he will not be; then he's on his way to Hollywood! I would lean toward their success in the comedy field, however, because Geithner, being a quick study, already has it so nailed that in his screen test he merely has to utter the words "strong dollar" in just about any skit you can come up with to be a shoo-in for howling laughter.

Just don't ask any tough questions about how printing unlimited amounts of money and lowering interest rates to sharply negative real rates have anything to do with a strong currency. They will probably be judged by the movie studios on how surprised and perplexed they are that the economy imploded. Geithner: But how did that happen?

The best part: their bankster friends will have all the money left on the planet to fund a ten movie package where Bernanke (the straight man) feeds Geithner the set up to the punch line: A strong dollar! AAHAAHAAHAAHAA!! While the films never catch on in America, the Chinese think they're a howl - something like the Frenchmen's admiration for Jerry Lewis.

In truth it is truly difficult to judge their acting ability because the American public is so gullible and uneducated on economic and money matters that it is like trying to judge if you are a great actor while you have convinced a three year old that there really is a Santa. Just look at how the media and Wall Street react to the tragic economies of Greece and now Ireland. Just when it is lights out for the dollar suddenly Ireland implodes which again is jumped on by the media as everyone pulls their funding, which in turn blows up the Euro (as it would any country in the Euro as they're all massively leveraged) so that the dollar holds on in relative terms. This cycle will repeat until one by one each country in the Euro blows or threatens to blow just as the dollar is again ready to plummet. The morons on CNBC think it's just another coincidence. .....And by the way QE1 never ended and the banks don't need a $600 billion stimulus package to buy bonds that no one else will buy. They already had the power to borrow unlimited amounts of paper into existence for this purpose for over a decade.

On the other hand maybe Bernanke and Geithner don't believe they're actually doing anything wrong. They must feel that with such a stooge for an audience it certainly could not be wrong to remove as much money as humanly possible from them for educational purposes.

By Richard J. Greene

© 2010 Richard J. Greene
Richard is Managing Partner, Portfolio Manager of Thunder Capital Management. Richard graduated from St. Leo College, received his MBA in Finance, Management and International Business from the University of South Florida and is a Chartered Financial Analyst (CFA).

Thunder Capital Management LLC was founded in July of 1999 with the mission of creating wealth while preserving capital. Founder and Portfolio Manager Richard Greene, who utilizes his unique combination of expertise and experience in a wide range of markets, industries and investment vehicles, oversees all investment activities of the firm.

This article is made available for informational purposes only and is not intended to be an offer to sell or the solicitation of an offer to buy interests in any fund. Such an offer will only be made upon the delivery of a confidential offering memorandum which are available to pre-qualified persons on request.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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