Yeah, the only probllem will be PR…

I did not know whether to laugh or cry when I read the Business Insider article titled “The Fed Is Starting To Prepare For A Future PR Nightmare“, where they state:

Everyone wants the Federal Reserve to say how it will unwind the $3 trillion balance sheet amassed from years of quantitative easing.

Indeed, this was something of a hot topic in Fed Chairman Ben Bernanke’s testimony before Congress last week.

One of the big issues the central bank faces is the inevitable loss it will have to take when interest rates rise and the value of the Fed’s bond portfolio declines.

Although not an economic problem — as “losses” for a central bank are more of an accounting issue — there could be a PR problem when the Fed stops making payments to the Treasury from the interest income it receives on its bond portfolio.

Where to begin? I guess the “Although not an economic problem — as “losses” for a central bank are more of an accounting issue” line is a good place to start, since it ties in the rest of this gobbledygook perfectly. So, the fact that this scheme to help the nanny-state Keynesians hide the disastrous economic policies is beyond stupid doesn’t factor in?

In a nutshell QE amounts to our government printing some $3 trillion in new money, with nothing but blind faith in said government to back it up. This insane policy was necessary because nobody else was lending the already overleveraged US any more money. Especially with our debt out of control and the government refusing to cut the $1 trillion plus of deficit spending it has been doing for the last 4 years and looks to be set on doing for the foreseeable future. QE was done so these idiots could keep spending more money than they could collect from the very economy their socio-engineering policies had destroyed, and the new wealth redistribution schemes and scams of the last 5 years guaranteed would have to be kept on life support.

Let’s just pretend that QE wasn’t one of the biggest reasons that caused the dollar to lose, depending on who is doing the reporting, anywhere from 20% to 45% of its value in the past few years. And let’s also pretend that faced with this kind of devaluation their inflation prevention policies are not causing us all even more pain,/a>. Inflation is unavoidable in light of these kinds of banana republic monetary policies our masters have been practicing for the last half decade.

The fact is that despite the lack of reporting, the feds changes to the calculation of inflation, or the pretense that it is not so, costs have gone up, along with taxes, and while the fed keeps living large, the middle class is getting squeezed. All this pain is being seen by the fed as just an “accounting issue”. Nothing but some red lines on a spread sheet. Tell that to the people that have seen their purchasing power or retirement accounts go up in smoke.

And through all of this disastrous banana republic economics we have been put through so the collectivists could keep spending to buy votes, what the fed is worried about is the PR battle. Not that the banana republic policies of the socio-engineering political class have destroyed our currency, savings, and lives, but the PR battle. Heck, just do some more of that class warfare talking the left lives by and for, and those low information voters that gave these idiots four more years to make things even worse, will not just willingly climb onto the gallows, but help tighten the rope around their own necks too. I mean if all we need to worry about is PR, why not just print $ 30 trillion more, pay of the debt – maybe with one or more of those special coins – and then go back to living large & in charge, huh?


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