Fed Head Ben Bernanke
...is buying billions in U.S. Treasuries every day, day after day, from the Primary Dealer banks, using mere journal entries as currency. Then he prays. That the banks, in turn, will lend the newly created "money" into the U.S. economy, thereby boosting output, creating jobs, and restoring a credit card to every wallet. But where are the banks really putting it? Look below:
That's a copper mine you're looking at. The JP Morgans of the world, it seems, are stashing the trash cash in commodities, hoping to corner markets for their own profit. American workers, find your own sandbox and go pound sand. The Wall Street Journal reports.
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