"The Fed is supposed to make sure the entire economy, and not just the credit markets, run smoothly.
But Fed chairman Ben Bernanke risks fixing the credit crunch at the expense of inflation and the retirement accounts of many hard-working consumers that didn't go out and get some exotic adjustable-rate mortgage to buy a home that cost far more than they could afford."
from CNN
Jim Rogers is right. The Fed has failed. They create moral hazard, bail-out stupidity, and "solve" problems by de-basing the currency and promoting inflation.
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