Topic: Economic Policy
Sign the Petition to Request That Ben 'Systematic Risk' Bernanke be Removed From Office. Bernanke was the only cause, I proved, of the Great Recession and probably acted on purpose. He had the knowledge (Bernanke is a renown specialist of The Great Depression he even wrote a book on the subject: Essays on the Great Depression.), the means, motive (The gigantic power he has received thanks to The Great Recession.), and opportunity.by Shalom P. Hamou
(liberal libertarian)
Thursday, August 13, 2009
Revoke Bernanke:
Bernanke was the only cause, I proved, of the Great Recession and probably acted on purpose. He had the knowledge (Bernanke is a renown specialist of The Great Depression he even wrote a book on the subject: Essays on the Great Depression), the means, motive (The vast increase of power received thanks to The Great Recession), and opportunity.
Worse, in light of the exercise of the central bank extraordinary power by Bernanke, I argue that he poses a real immediate threat to democracy, peace, privacy and individual freedom.
Given the immediate dangers that are evoked in these lines I strongly suggest that you revoke Bernanke.
"I will argue here that, to the contrary, there is much that the Bank of Japan, in cooperation with other government agencies, could do to help promote economic recovery in Japan.
Most of my arguments will not be new to the policy board and staff of the BOJ, which of course has discussed these questions extensively.
However, their responses, when not confused or inconsistent, have generally relied on various technical or legal objections- objections which, I will argue, could be overcome if the will to do so existed."
Prof. Ben Shalom Bernanke Japanese Monetary Policy: A Case of Self-Induced Paralysis? For Presentation at the ASSA Meetings, Boston MA, January 9th, 2000. "The slowdown in economic activity, together with high interest rates, was in all likelihood the most important source of the stock market crash that followed in October.
In other words, the market crash, rather than being the cause of the Depression, as popular legend has it, was in fact largely the result of an economic slowdown and the inappropriate monetary policies that preceded it.
Of course, the stock market crash only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930."
Governor Ben S. Bernanke Money, Gold, and the Great Depression. At the H. Parker Willis Lecture in Economic Policy, Washington and Lee University, Lexington, Virginia. March 2nd, 2004
In The Tract: The Age of Turbulence: Plea for a New Economic Order I prove that, because of Bernanke's brutal Quantitative Easing, after an unknown period of exceptionally good economic conditions, and Irrational Exhuberance, which will inflate the Mother of All Asset Price Bubbles, we will have a Keynes' Liquidity Trap, The Crash and a Deep Depression. No monetary or fiscal policy will then pull the World out of The Deep Depression.
Its purpose is to profit from both the inflation of The Mother of All Asset Price Bubbles brought by Irrational Exuberance and The Crash that will necessarily ensue. However Alan Greenspan warns you:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated - if people see them coming, then the markets arbitrage them away.
...
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong.
Alan Greenspan The Age of Turbulence: Adventures in a New World [Order].
What do we do After The Crash:
There is a remote possibility that The Crash and The Deep Depression, in a pattern similar to the one that brought Hitler to Power during The Great Depression, would allow the installation of a totalitarian regime, some Adventures in a New World [Order] as the title of Greenspan's book, The Age of Turbulence: Adventures in a New World [Order], cryptically warns us.
"But the essential issue here is one of insurance, with a relatively modest premium, against a potentially catastrophic, very low probability event.
With that, Peter, would you outline your proposals to us?"
Chairman Alan Greenspan Meeting of the Federal Open Market Committee. August 24th, 1999
First, and with all due respect, Sir Chairman, my name is not Peter, but Hamou, Shalom Patrick Hamou.
I propose to implement an Adjusted Credit Free, Free Market Economy, which will be organised among the people who will have entered before The Crash The Serial Number of a €5 bank note in The Public Cra$h R€gi$t€r .
It generates a conspiracy to create a New Economic Order among after the Crash and prevent possible Adventures in a New World [Order].
I.10.82 "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83 A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84 A regulation which enables those of the same trade to tax themselves in order to provide for their poor, their sick, their widows and orphans, by giving them a common interest to manage, renders such assemblies necessary."
Adam Smith - June 5th, 1723 – July 17tn, 1790 An Inquiry Into the Nature and Causes of the Wealth of Nations. Inequalities Occasioned by the Policy of Europe. March 9th, 1776
We will then be able, Sir, to jump start our Adjusted Credit Free, Free Market Economy immediatly after The Crash if the number of registered €5 is Sufficient.
Because the serial number of a €5 bank note does not tell anything about his owner The New Economic Order can not discriminates or limit individual freedom.
Enter the Serial Number of Your €5 Bank Note in The Public Cra$h R€gi$t€rBefore The Crash - It Is Fr€€!
Shalom P. Hamou
The Movement for The New Economic Order Against Adventures in a New World [Order].
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article are those of Shalom P. Hamou only and do not represent
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Wow, what a great big fuss about nothing. No petition is going to stop Bernanke's next term. It's already ordained. Besides, the Federal Reserve is "privately" appointed by the President, and he still has a legion of fans. You'd have to do a lot more arm-twisting for this to work, and this article hurts my eyes already, so you've got your work cut out for you...
P.S. Stop the shameless plugs of your apparently-shutdown blogs.
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