The top 5% are getting richer by the hour. That is the consequence of Ben’s policy – More wealth transfer. Is that really what most Americans want? Is that what Congress wants? – Bruce Krasting

 

By Bruce Krasting

EXCERPTS:

No one, including Bernanke, has a clue what will happen when the exit door is opened. That is an indisputable fact. How can Bernanke claim that a Fed exit from QE will have no consequences? It’s never been done before. Not by the Fed. Not by any Central Bank. To think that such a daunting task can be accomplished without negative consequences is foolish.

Given that there is no road map to look at when pondering what happens when the Fed starts to off-load a few Trillion of bonds, Bernanke is either bluffing or he’s lying. Either way, Reckless Endangerment is a valid accusation.

 

What happens when we get these headlines:

 

Bond Market Falls Again – Dollar in Free Fall – Stocks in Global Drop

Losses on Fed’s Book Now Exceeds 1/2 Trillion

Chinese to Abandon Dollar Peg – Vows to Reduce US Holdings

S&P Lowers US Rating Again

 

– Bernanke has not provided any evidence that QE 3 is doing a damn thing other than putting a temporary bid under the stock market.

FULL ARTICLE

 

Also please consider:

10 Things That Every American Should Know About The Federal Reserve

Federal Reserve Constitutional or Merely Legal?

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