OFFICIAL SECRETS!
Fortunately, there is this other report on Bernanke "tackling critics" in the USSA - which is so FULL OF LIES that it deserves to be exposed to the INDIAN MEDIA, particularly, before this chap comes here.
Take this paragraph:
He [Bernanke] said that while the country’s unusually weak economic performance had forced the Fed to resort to less conventional tools after lowering interest rates to effectively zero, the Fed’s goals of price stability and maximum sustainable employment have not changed.
And this quote, which contains his "promise":
“As long as price stability is preserved, we will take care not to raise rates prematurely,” Bernanke said.
NOTE: What about the PRICE OF GOLD as against any fiat paper currency, including the US dollar?
Anyway, can the market price of anything ever be rendered "stable"?
What is really "constant" in the Science of Economics?
Answer: It is NOT the "data" we can measure. These are ALWAYS CHANGING because everything affects them, from consumer preferences to technology to even the seasons. All that remains CONSTANT is inside each and every trading human mind - and these are the mind's "logical categories" by which each Individual engages in trades. I have explained these logical categories in this recent post.
Ask yourself this question: Would you like to have GOLD as your money - a money that INCREASES in value every day, UNSTABLE.
Or would you like to continue with fiat papers, whose values keep FALLING, and are thus also UNSTABLE?
Also ask yourself this: Would you prefer to see interest rates at ZERO, as in Bernanke's USSA? In which case, your savings will earn zilch - while rich corporates will borrow extremely heavily because they will have to repay not only zero interest, but even less of the principal amount they have borrowed, which will be worth much less as the years go by.
THIS IS WHAT CAUSES BOOM-AND-BUST CYCLES!
HEAVY CORPORATE BORROWINGS LEAD TO "MALINVESTMENTS" - to investments in projects that would never have been deemed "feasible" if central banks did not exist, if credit could not be expanded endlessly, and interest rates reduced to ZERO: which actually means there is "no shortage of capital."
This means CAPITAL IS NOT AN "ECONOMIC GOOD"!
And your savings are being eroded in value - simultaneously - which is your precious Capital.
Makes SENSE to you?
Can this be CAPITALISM?
They call it "macroeconomics" - part of the evil "national socialist" propaganda that says each nation-state must have one such central bank printing its own fiat paper currency. All these central banks are supposed to "stabilise prices" and "stimulate employment" - these are the LIES taught universally.
GOLD IS INTERNATIONAL MONEY.
NO GOVERNMENT "CREATED" GOLD.
GOLD IS "PRIVATE MONEY."
IT IS MONEY BY HISTORY - NOT THEORY.
GOLD IS MONEY BY LONG ACCEPTED PRACTICE.
So, I recommend this column by Ron Paul - Bernanke's greatest enemy in the USSA, author of END THE FED! - a column titled "Gold is Good Money," which begins thus:
Last year the Chairman of the Federal Reserve [Bernanke] told me that gold is not money...
I also have an old post on Bernanke, in which I have quoted Jim Rogers' opinion of this chap:
...all he understands is printing money. Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance.
Note the Dr. Bernanke - as in Dr. Manmohan Singh, who was Governor of the RBI, too. These are Dr. Bernanke's "educational qualifications":
Ben Bernanke went to Harvard University, where he received his undergraduate degree in economics. He then went to graduate school at the Massachusetts Institute of Technology, MIT, where he received his PhD in economics. His thesis adviser was Stanley Fischer, and his committee consisted of Fischer, Rudiger Dornbusch, and Robert Solow, a Nobel Prize winner. (He also thanked Harvard University professors Dale Jorgenson and Peter Diamond [Nobel laureate 2010] in his dissertation.) It is safe to say that he had an elite education in mainstream economics.
Bernanke has taught at Stanford University, New York University, and Princeton University, where he served as chairman of the department from 1996 to 2002. Bernanke has authored major textbooks, has served as the National Bureau of Economic Research's director of monetary economics, and was an editor of the American Economic Review. He is still considered to be one of the top 20 authors of all time in academic economics journals despite having been out of academia for almost a decade.
HOMESCHOOL YOURSELF AND YOUR KIDS - at the Mises Institute, beaming The Truth worldwide.
Which brings me to the Supreme Court of India - whose outgoing Chief Justice believes in Injustice, who okayed THEIR RIGHT to FORCE MISEDUCATION into every kid's mind, and their recent decision on the 2G spectrum in which they have asserted that "policy-making is the government's DOMAIN."
What about this "funny money" MONETARY POLICY-MAKING, then?
If this is their DOMAIN, then so is FOREIGN EXCHANGE REGULATION? With FERA and its ENFORCEMENT DIRECTORATE?
IS this Justice or Injustice - or, to be extremely precise, is this not RAPE!
While the word "domain" means PROPERTY - which is GOLD.
So, as I recently wrote, there is but one solution to the money and banking problem that confronts a PREDOMINANTLY POOR humanity: that both money and banking be based on LAW; that is, on Property and Contract.
Which means NO POLICY.
So the telecom spectrum must be HOMESTEADED.
NO TELECOM POLICY!
Indeed, which particular POLICY of any government in the national-socialist world of today do you approve of?
Trade policy?
Immigration policy?
Industrial policy?
Transport policy?
Energy policy?
Environmental policy?
Forest policy?
Education policy?
Labour policy?
Tourism policy?
Which policy?
Name ONE?
These are all examples of the RULE OF WILL - and, therefore, of the ABSENCE OF LAW.
The rule of will is always ARBITRARINESS, which is ever-changing - and this can never ever be the rule LAW, which is eternal and unchangeable, hence possessed of the essential quality of CERTAINTY.
Thus, interventionism, which must perforce rely on legislation and bureaucracies thereby empowered, ends up DESTROYING DEMOCRACY.
Every single "elected representative of the people" in any modern House of Horrors in reality represents neither the people, nor his constituency - look at this report on VIP constituencies in India - and all he or she ever does is the "representation of special interests," those that are affected by legislation, and must perforce seek to influence these legislative acts such that their own interests are not adversely affected, and even promoted.
Both the US FED and the RBI have been established by legislative acts. Both are examples of "economic bureaucracies." There is nothing even remotely "democratic" about them, or their activities.
Nothing JUST, or MORAL, either.
Thus, Bernanke and the RBI bureaucRATS will take decisions based on their respective WILLS to grant licenses to some foreign banks to open branches in India - calling it "reciprocity," of course - and this evil funny money and phoney credit business of theirs will forever continue.
Closed door meeting of bureaucRATS of two national-socialist states.
Mutual exchange of favours - "reciprocity."
Official Secrets Act.
And all this, while THEY SPY ON THE PEOPLE!
Only because of MISEDUCATION WORLDWIDE.
So, I must repeat once again:
There is but one solution:
The progressive enlightenment of mankind.
