The Devil We Know

Peter Schiff

8/26/2009

Ayn Rand wrote, “when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.”

America is not doomed, but the fellows in Washington are pushing for that outcome. It seems that all the characters that encouraged this financial crisis are being rewarded, and Ben Bernanke’s re-nomination is no exception to this rule. He was on the Board of Governors when Alan Greenspan grew our bubble economy. Known as ‘Helicopter Ben,’ Bernanke was the most vocal supporter of low interest rates to combat the bogus threat of deflation, even if it meant dropping cash from helicopters. He succeeded in his aim – as it is hard for prices to decline while the money supply is growing by double digits.

The story continues …..

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