Monday, May 16, 2011

Bernanke QE2 Averts Deflation, Spurs Rally, Expands Credit as Program Ends

First, read this quote:

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

-- Thomas Jefferson, 3rd president of US (1743 -1826)

Now read this Bloomberg article..

Was Jefferson right? Is this "great news" really all that great?
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