11/19/2010

Wolfman Report: THE MONEY CHANGERS



Public Domain

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History


In Biblical times Christ chased the money changers out of the temple.



Matthew 21:12-13 (King James Version)

12 And Jesus went into the temple of God, and cast out all them that sold and bought in the temple, and overthrew the tables of the moneychangers, and the seats of them that sold doves,



13 And said unto them, It is written, My house shall be called the house of prayer; but ye have made it a den of thieves.



Franklin Delano Roosevelt



FDR took the paper currency off the gold standard. The money could be redeemed for gold, but FDR made paper money just a piece of paper. For a while silver certificates could be redeemed for silver, but that was stopped.



I read about FDR setting gold prices. When he was asked about an increase in the price of gold, he quipped that he had “pulled the increase out of the air.”



The Federal Reserve



Now, we have Bernanke printing $600 billion. The paper currency is backed by nothing. How did he determine how much money to print? I submit that he could have “pulled it out of the air”.



China



Inflation is a current problem in China. Their investment in US securities is being reduced in value. The $600 billion printed by The Federal Reserve exacerbates China’s problems.



Chinese consumers are victims of inflation. I saw a picture of Chinese citizens buying poultry in a frantic attempt to avoid inflation. Some Chinese citizens may starve due to inflation.


Others


Many other countries in the world have the same problem.


All citizens of the United States are suffering from inflated prices, reduction in sizes of consumer products, and more inflation is on the horizon.