New Script Calls for More U.S. Quantitative Easing: Opinion
NEW YORK (Bullion Bulls Canada) -- Ben Bernanke has been in a quandary, ever since the Federal Reserve's QE II was universally castigated as a reckless (and selfish) escapade by the U.S., aimed at doing nothing more than propping up the value of the "financial assets" of the Wall Street crime syndicate. Bernanke never understood that criticism, since all of the money-printing done by the Federal Reserve is for the specific intent of propping up the value of Wall Street's financial assets. How else do you stop Ponzi schemes from imploding?
Be that as it may, the one thing which Bernanke did understand is that there was little tolerance (and certainly no appetite) in the global community for more U.S. quantitative easing. To understand this requires actually taking a moment to define quantitative easing, since though the mainstream media uses the term a million times a month, they never explain it.
Quantitative easing is nothing but a 21st century euphemism to replace a 20th century euphemism: "monetizing debt." Those with any understanding of language realize that euphemisms are expressions we create when we want to (more or less) lie about a subject -- because telling the plain truth is too unpalatable.
In this case, quantitative easing (aka "monetizing debt") is nothing more than printing money out of thin air to (pretend to) pay one's bills. This brings us to the multi-trillion dollar Ponzi-scheme known as the Western financial system. To illustrate how far Western finances have deteriorated requires providing some historical context.