Dollar Ponzi

Liars, Criminals and Thieves

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by Rory, The Daily

When the value of the dollar is rising, who benefits the most? Who, at the end of the line, owns ALL of the dollars ever to exist? How does a strong dollar benefit the owner? The profits must be unfathomable. Does a strong dollar put more food on your table or lower your energy costs? It does make it cheaper for you go on that European vacation. Oh yeah, you’re broke, unemployed and can’t find work outside of part-time. European vacation is probably not the list at this time.

The value of the dollar has exploded in recent months. As my colleague, Dave Kranzler, has pointed out on numerous occasions the dollar has actually been on a parabolic plane and any asset that is rising in a parabolic fashion is on a path to crash and burn. How long will it last?

One of my favorite targets of late has been the ass-clown out of the St. Louis Fed, James Bullard. I recently wrote about how his laughable suggestion to raise interest rates was never, ever going to happen. Bullard said on March 24: discussion by the Fed about the timing of the first rates increase since 2006 ought to ensure that it doesn’t come as a shock when policy eventually moves.

Let’s review. Rates haven’t been raised since 2006, that’s nine years of extremely low or NO interest rates to the banks. Any rise in interest rates is a direct attack on the economy as the interest payment alone on the outstanding US Federal debt will chock the system and the banks would almost certainly implode as the “liquidity” [read money printing] would have to evaporate.

So, Bullard, explain to us how interest rates need to be raised to accommodate “…normalizing U.S. monetary policy so that it is set appropriately for an improving economy over the next two years,” This man is either paid to be the contrarian or just a raving lunatic. How is that the entire world, including some of the US’ closest allies, like the UK, Germany, France and Italy, are all moving away from a dollar based system but Bullard believes the economy is going to be all rainbow-spewing unicorns over the next two years? How can anyone take this person seriously?

As Reuters reported on March 27:

The Federal Reserve should remain on track to raise interest rates later this year despite the U.S. economy’s weak start to the year and a stock market sell-off this week, two Fed officials said on Thursday.

In separate events in Frankfurt and Detroit, St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart said U.S. monetary policy might need to be adjusted in light of the economy’s steady improvement since the 2007-2009 financial crisis.

To be sure, the US economy is off to a “weak start” in 2015, but Bullard believes everything is moving in the right direction and we should go ahead and raise interest rates. Alright, Bullard, raise interest rates. As Dave Kranzler recently said, “why wait until later in the year, raise them now.” Bullard get the monkey off your back and raise rates on Monday March 30!! I dare you. Please raise interest rates and send the price of gold to zero. Please, I beg you, raise interest rates as soon as possible. You need to do a better sales job with your other ass-clown friends at the Federal Reserve, because they aren’t buying it. Why? I asked who benefits from a strong dollar; who owns ALL the dollar ever to exist? The Federal Reserve OWNS all the dollars ever to exist, so I have to believe that when the dollar is strong, the Fed benefits greatly. My guess is their balance sheet has improved ten fold over the past few months based on the strength of the dollar. The toxic assets the too-big-to-jail banks dumped on the doorstep probably stink as much as they did this time last year.

As my colleague, Dave Kranzler says: please, Bullard, raise interest rates starting immediately if not sooner. I dare you. I would love to see your criminal organization be exposed in the full light of day.

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