Bureaucrats and the Lying Lies They Tell
Courtesy of Minyanville’s Mr. Practical.
"Berries" is my new name for “bureaucrats”. It’s hard to spell the real word. I had to come up with something since I assume I will be writing about them all the time now. We can’t get away from them. They have too much power and now they want more.
As I watched Mr. Bernanke’s “um” testimony (I hope the number of times he said “um” has nothing to do with him being nervous) and Mr. Paulson’s “no answer” to the only intelligent question of the day asked by Ron Paul, I got the feeling that we will be hearing from them and others just about every other minute of the day.
Berries learn on the job to obfuscate. I assume they start out in life as normal people and maybe even a bit more altruistic than most of us, but once they become a part of the “system” they almost all morph into professional liars. Remember just months ago when the head of OFHEO lowered the capital requirements for the GSEs, trumpeting the “all clear” sign? Fools went out and bought up the stocks thinking they were going to make more money without thinking the companies could actually lose more. Now the companies have no capital left and are about to crash. Why did people listen to the berries?
How did we get to the point where we think berries know so much? That they can fix and control and natural thing like the markets? Can weathermen control the weather?
The Federal Reserve has mis-managed America’s money supply. They have sucked vast wealth away from the middle class to support rich institutions which they call “the system”. Why would we give vast new powers to the berries that run the Fed when they have proven they don’t know what they are doing?
Ron Paul asked this direct question, but he knew the answer and he knew the Berry Twins would not answer it. Real lending should take place between saver and borrower. A saver will take much better care of lending his money than would a speculator handed free money by the Federal Reserve.
Apologists are wrong when they say savers cannot provide enough liquidity to borrowers on their own and we need a central bank to make up the difference. We already have a fractional banking system to juice up saver liquidity. We do not need a central bank to juice that to infinity and beyond. We are now living the nightmare that our central banks have wrought. Thomas Jefferson cautioned hundreds of years ago not to give the government the ability to create money, for they will always devalue it.
If we didn’t have a central bank, we simply would not have the debt (five times normal) plaguing our country today.
Heresy, you say! Well, read your history. Ron Paul has.
