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Source link: http://archive.mises.org/9320/faith-in-free-markets-according-to-mr-bernanke/

Faith in Free Markets – According to Mr. Bernanke

January 27, 2009 by

While speaking in London recently, Bernanke cautioned that the proposed funds for the economic stimulus plan — supported by the robbing of American citizens– are “unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system.” This means he is priming for a request for more government funds in exchange for government equity positions in the banks, writes Matthew Novak. FULL ARTICLE

{ 11 comments }

prettyskin January 27, 2009 at 9:48 am

Common sense Mr. Krugman, Mr. Bernanke, Mr. Paulson, and Presidents Bush and Obama do have. Sound-money principles are what they have not surrendered to in the name of control.
There is a monopoly on wealth in the United States, keeping it that way is the urgent and dire straits for American taxpayers to bleed more bloody money. Those leeches!

M.G. in Progress January 27, 2009 at 11:49 am
J Cortez January 27, 2009 at 1:31 pm

Considering the havoc he and his predecessor have wreaked, it seems fitting that the accompanying picture has Bernanke’s hands steepled in prayer.

Bruce Koerber January 27, 2009 at 4:09 pm

Piecing it together! Bernanke has an assignment to destroy the dollar! For this he is exceedingly qualified!

We know that the next crisis on the horizon is the destruction of the dollar. We know that and so does the unConstitutional coup. In fact they are doing things that make the collapse of the dollar inevitable.

Why? Because a system of national fiat monies is unstable.

Bernanke is an ‘intellectual’ ego-driven interpreter who is narcissistic and who is an ego-driven interventionist. These are the qualities that the unConstitutional coup was looking for in a Fed Chairman. His lack of ethics was the final character flaw that they sought, meeting the criteria and making him their perfect agent.

He will apply his fallacious ‘economics’ to try to redirect wealth without any ethical conscience. And finally he will act proud of his appointed position as the front man for the inner circle of the unConstitutional coup.

The only way the unConstitutional coup can achieve its goal of worldwide monetary hegemony is by destroying national fiat currencies and replacing them with a one world fiat currency under their control.

Bernanke has an assignment to destroy the dollar! For this he is exceedingly qualified!

Could it be that Bernanke is deliberately maligning the free market? Could he be that unethical?

An interested party January 27, 2009 at 9:56 pm

One wonders how a senior optics researcher has such a strong grasp of economic theory. Perhaps if Dr. Novak stuck to his stated profession we wouldn’t have to be subjected to this drivel. The United States does not operate in a free market economy. We are and have been a mixed economy for some time now. If private investment was being crowded out by government investment I doubt we would be in the problems we currently face. Your rhetoric and the continued claims of Austrian Economists that they hold some sacred truths(albeit not supported by data) have been shown to be false. I quote “Dr. Matthew J. Novak is a senior optics research engineer at the University of Arizona, College of Optics.”

Dither January 28, 2009 at 8:02 am

“Perhaps if Dr. Novak stuck to his stated profession we wouldn’t have to be subjected to this drivel.”

Yeah, we should leave economics to the experts, like Mr. Bernanke and Mr. Paulson, and all the financial pundits who laughed at Peter Schiff (Austrian) when he correctly predicted the financial crisis.

kevin January 28, 2009 at 11:41 am

This article along with others that point out the continued policies that Beranke, Paulson, Grenspan, Bush, Obama, etc. all the way back to around 1922, simply continue to point out the political nonsense we have had to put up with. Little of this has to do with real economic theory and practice. It has to do with selfisness and power. I think all would find it interesting to read Rothbard’s Great Depression. Hoover, Strong and others did the same things before (causing the depression) and after the crash (to “fix” the economy). What you will find is little has changed except the magnitude of the “fixing”. They were power hungry then and the same is now true. They sold the country a white elephant and the American people contiue to buy them today. P.T. Barnum was correct, “there’s a sucker born every minute”.

The crash in 1920 was allowed to be corrected by the markets and it did in a year. Pirces and wages reached an equilibrium and employment stabilized. Those that were inefficient were liquidated and assets redistributed by the market so efficient producers could go back to work at what they were best doing. Ever since when Harding, Hoover, followed by FDR convinced everyone that the government knows better we have had problems that “can’t be solved”.

The common sense in all of this is that when the market was left alone it resolved the issues and grew. When governmnet has been involved it only caused government to grow, debt and deficits to rise, unemployment to be a continuing problem, and a running game that continues today.

We are now seeing the results once again on a large scale and we have the modern Hoover and FDR in Obama saving the day. I really fail to see that we have progressed. These are all old, stale, non-productive ideas and acts that will only continue to erode our freedom and make us further indebted.

Abhilash Nambiar January 28, 2009 at 4:28 pm

Calling for nationalization in the name for free markets. That is like calling for slavery in the name of freedom. That double think will certainly confuse the general public about the true nature of the problem and its solution. George Orwell’s book 1984 certainly rings a bell.

andy January 29, 2009 at 10:16 am
mnoaz1 February 27, 2009 at 6:42 pm

Thanks for the comments.

An interested party:

“Your rhetoric and the continued claims of Austrian Economists that they hold some sacred truths(albeit not supported by data) have been shown to be false.”

Please share these refutations of Austrian thinking. Please give examples. It is easy to sit back and call the article I wrote during my lunch break ‘drivel’. So, I would ask you to instead expend some energy demonstrating where what I have said is incorrect.

I did not mean to share rhetoric; I simply am passionate about the subject matter and wanted to take part, freely. I am certainly open to any and all criticism. But, please make it constructive. Thanks!

clenbuterol February 23, 2011 at 12:09 pm

Hej, försökte jag skicka dig rör detta inlägg men eller hur? T kunna nå dig. Maila mig när får en stund. Tack.

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