This article was written by Jeff Nielson and originally published at Bullion Bulls Canada
Approximately one month ago; I wrote a piece entitled U.S. Prepares To Detonate Market Bubbles. The gist of that piece was that after pumping-up several new bubbles in the U.S. economy (and taking the Wall Street fraud-markets to record-highs) that it was time for the Banksters to detonate those bubbles – and cash-in (on the “short” side) on the way down.
Even more specifically, it was suggested in that piece that Federal Reserve Chairman B.S. Bernanke was being set-up as the Scapegoat for the market-crash to follow. Today, Bloomberg substantially bolstered this prediction with a headline of its own:
Fed Message Muddled as Misunderstood Taper Meets Slowing Growth
Here we have one of the most loyal defenders (i.e. pumpers) of Helicopter Ben now throwing him an anchor in his hour-of-need. Truly there is “no honour among Thieves.” The gist of Bloomberg’s article? Not only has Bernanke done a terrible job of “communicating” his proposed “tapering”; but he’s now preparing to ease back on the money-printing at precisely the wrong time.
The hilarious irony here, of course, is that it is media shills like Bloomberg which ultimately assume most of the responsibility for “communicating” the strategies of the various suit-stuffers in government and/or the Fed. Compounding Bloomberg’s hypocrisy; it has religiously supported B.S. Bernanke decisions over the past 4 ½ years to pull-back from any Exit Strategy (previously), and Bloomberg itself has been (had been?) one of the most-zealous cheerleaders in advocating “tapering” at this time.
But when the U.S. economy goes down; there will be only one “captain” remaining on board. All of the (other) Rats will have already deserted the ship which they (first) built and (then) sunk.
So the ending is already clear. The U.S.S. Titanic is about to be intentionally sunk (again), and B.S. Bernanke’s “fingerprints” will be planted all over the crime scene. Let’s take a closer look at the Script – since doing so says more about the Liars in the Corporate Media than it says about the U.S. economy (and Bernanke’s role in destroying it).
Bloomberg makes a good case as to why all of its own “tapering” hype has been absurd (and dishonest) from Day 1:
They [the Federal Reserve talking-heads] will probably lower their estimates for growth this year and next for the third consecutive time…What’s more, annual inflation has been running at least half a point below the Fed’s goal since December. And while the unemployment rate is falling, that’s mainly because some Americans are leaving the labor force.
According to Bloomberg – today – there was never a good reason to begin “tapering” at this time (and the six months of its own relentless hype which preceded it). Talk about Revisionism…of its own propaganda.
As always, Bloomberg’s economic submissions require translation. As has been clearly demonstrated in previous commentaries; there hasn’t been any “economic growth” in the mythical “U.S. recovery”. Among the many reasons this is obvious fantasy is that growing economies require more energy – not less – and energy consumption in the U.S. economy has plummeted during this supposed “recovery.”
While Bloomberg and the other Liars in the Corporate Media claim that U.S. inflation is “too low”; back in the real world soaring inflation is threatening to spin out of control at any minute – due primarily to the grossly excessive money-printing of the U.S. And the statement that “some Americans are leaving the labor force” is (shall we say?) an understatement.
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