The United States is sliding towards a dangerous 1930s-style "liquidity trap" that cannot easily be stopped by drastic cuts in interest rates, Nobel economist Joseph Stiglitz has warned.
"The mechanism of monetary policy is ineffective in these circumstances. I'm not saying it won't work at all: it will help the banking system but the credit squeeze is going to go on because nobody trusts anybody else. The Fed is pushing on a string," he said.
The grim comments came as markets continued to suffer wild gyrations, reacting to every sign of contagion spreading to Europe, Asia, and emerging markets....
Jim Lincoln wrote: Susan, the people who run the Federal Reserve are picked by our elected representatives
Please, DO tell us more. Which of our elected representatives pick which people who run the Fed. Also, where is this authorized in the the United States Constitution???
Susan, the people who run the Federal Reserve are picked by our elected representatives, again, Ron Paul is just Too Close to Kooky. This country was in a mess until we had a strong central banking system.
As usual, "susan miller", like Globalist/Vaticanist RON PAUL says Nary a word on How The Satanic-Vatican has been Gold (Silver; Precious Stones, Wood, Hay & Stubble) Digging for the last 18 Centuries of Human History !
And how The Satanic-Vatican has been Behind This Worldwide/International/Multinational/Global World Bankers' Conspiracy to Monitarily/Financially/Economically Control The Whole World !
(The last time The Satanic Vatican "Struck Gold" was at 9-11 in New York; when She Conspired & Succeeded in Raping The Mafia/Syndicate Gold that Sat In UnderGround Vaults Beneath The World-Trade-Center-Towers! *Read Tony Gambino's/Lucky-Luciano's-Grandson's Account & Testimony)
While She's Still sending Her "Jesuits" to Financially & Economically infiltrate & Globally Destablize Nations Internationally/Multinationally; and, to Ultimately Monetarily, Economically and Financially Control them through The Globalist Banks by manipulated & pre-planned "Stock Markets Plung(ing) Worldwide" !
Let's get to The Root of The Reason Why "Stock Markets Plunge Worldwide"-- & Who's Behind The Globalist Bankers; and, To Whose Door(s) The Blame For All This Financial Fiasco Belongs:
At The Gates of Satan's Seat on Planet Earth......
Money is the lifeblood of any economy, and control over a nation's currency means control over its economic well being. Fed bankers quite literally determine the value of our money, by controlling the supply of dollars and establishing interest rates. Their actions can make you richer or poorer overnight, in terms of the value of your savings and the buying power of your paycheck. So I urge all Americans to educate themselves about monetary policy, and better understand how a small group of unelected individuals at the Federal Reserve and Treasury department wield tremendous power over our lives.
"Transparency in monetary policy is a goal we should all support. I've often wondered why Congress so willingly has given up its prerogative over monetary policy. Astonishingly, Congress in essence has ceded total control over the value of our money to a secretive central bank.
Congress, although not by law, essentially has given up all its oversight responsibility over the Federal Reserve. There are no true audits...." - Ron Paul February 19, 2007
1 Ho, every one that thirsteth, come ye to the waters, and he that hath no money; come ye, buy, and eat; yea, come, buy wine and milk without money and without price.
Dr. Alan Cairns | 3/9/2009
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stever: "no need to be beguiled by some here and refuse the lords prayer. the..."
