IPFS News Link • Federal Reserve
Bernanke Gone Berserk! Bank Reserves Explode!
• JutiagroupThis is not conjecture or exaggeration.
Nor are the underlying facts subject to debate.
They are blatant, unambiguous, and fully supported by the Fed’s own data …
Fact #1. Up until the day Lehman Brothers collapsed in September of last year, it took the Fed a total 5,012 days — 13 years and 8 months — to double the cash currency and reserves in the coffers of U.S. banks.
Imagine a crowded interstate highway with a speed limit of 55 miles per hour and with a long tradition of allowing no one to exceed the limit by more than 20 or 25 mph.
Suddenly, a new driver appears on the scene with a jet-powered engine that accelerates to a supersonic speed of 1,350 mph.
That’s the same magnitude of change Fed Chairman Bernanke has presided over.
Fact #2. Even in the most extreme circumstances of recent history, the Fed never pumped in anything close to this much money in such a short period of time. Indeed …
Before the turn of the millennium,