Sunday, September 23, 2012

Bernanke And Draghi Are Not Trying To Save Our Economies

Click here to access article by Raúl Ilargi Meijer from The Automatic Earth. 

This is a well articulated rant, but the appreciation and understanding of it requires a knowledge of central banks and the way they create money. Unfortunately, most of the 99 Percent lack this understanding.

Regarding "Draghi's bond buying scheme and Ben Bernanke's QE3", he writes:
The question then becomes: is it worth it? The answer to that is a resounding YES if you're a banker or a stock investor or an incumbent politician (Bernanke announced QE3 a comfortable 7 weeks before the US presidential elections). The answer is an equally resounding, if not outright debilitating, NO if you're not part of that small world where politics and money meet and live in relative splendor. Those who are not invited to that party will be called upon to foot the bill, without having anything to show for it.