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IPFS News Link • Federal Reserve

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Federal Reserve Chairman Ben Bernanke's approach to stopping the financial crisis by printing money is wrong, as the private sector is still unable to pay its debts, Richard Duncan, the author of 'The Dollar Crisis: Causes, Consequences, Cures' wrote Friday. "Bernanke believes in the Monetary Theory of the Great Depression, which holds that the Federal Reserve could have prevented the Great Depression by stopping the US money supply from contracting during the early 1930s," Duncan wrote on his Web site. "The Monetary Theory of the Great Depression is incorrect, however. Consequently, the Fed's Quantitative Easing policy is more likely to exacerbate than resolve the global crisis," Duncan argued in an article. – CNBC

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