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.
In contrast, after the Lehman Brothers collapse, it took Bernanke’s Fed only 112 days to double the size of U.S. bankreserves.He accelerated the pace of bank reserve expansion by a factor of 45 to 1.(Click herefor the proof.)
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,
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