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Archive for January 27th, 2014

“As Ben S. Bernanke walks away from the Federal Reserve’s marble headquarters on the Mall here after presiding over his last policy meeting on Wednesday, he will leave behind a bittersweet legacy.

On one hand, his unprecedented efforts to drive down interest rates and stimulate the economy are widely credited by his peers with saving the nation from a second Great Depression, strengthening the economic recovery and leaving the nation’s financial condition poised to take off this year.

Yet those same policies have added momentum to one of the greatest surges in economic inequality in US history, helping the wealthiest Americans add to their enormous riches while the incomes of almost everyone else stagnated.”

What isn’t mentioned in Bernanke’s legacy is the probable wholesale corruption going on at the Federal Reserve. The primary purpose of the Fed appears to be to shield rich investors from any market forces they encounter that lessons their wealth. In other words, the Feds primary responsibility appears to be to rescue the rich from their own foolish decisions. This has opened the door to what appears to be a massive amount of corruption, both in the Fed and in the US government. See Breakdown of the $26 Trillion the Federal Reserve Handed Out to Save Incompetent, but Rich Investors–Johnhively.wordpress.com

As for the rest of Bernanke’s dubious legacy, click on the link below.

Ben Bernanke Leaves Legacy of Stimulus and Stagnation–The Sydney Morning Herald

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