1/15/2009

Bernanke calls for banking clean-up

Ben Bernanke called for fresh efforts to clean up the US banking system on Tuesday, warning that fiscal stimulus measures alone would not be enough to overcome the economic crisis.

Speaking in London, the Federal Reserve chairman said he would like the Obama administration to combine capital injections with a plan to cut troubled assets from bank balance sheets – the idea behind the original version of Treasury secretary Hank Paulson’s troubled asset relief program (Tarp). “More capital injections and guarantees may become necessary to ensure stability and the normalisation of credit markets,” he said.
bernanke

1 comment:

MC Shalom said...

Chairman Ben S. Bernanke, We Are on Our Way to Abolish Credit.

All of Our Economic Problems Find They Root in the Existence of Credit.

Out of the $5,000,000,000,000 given out to the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE got?

A Credit Free, Free Market Economy Is Possible.

Both Dynamic on the Short Run & Stable on the Long Run.

I Propose, Hence, to Lead for You an Exit Out of Credit:

Let me outline for you my proposed strategy:


Preserve Your Belongings.

The Property Title: Cast Your Vote to Abolish Credit.

The Credit Free Money: The Dinar Shekel AKA The DaSh, Symbol: - .

Asset Transfer: The Right Grant Operation.

A Specific Application of Employment Interest and Money.
[A Tract Intended For my Fellows Economists].


If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless?

Since credit based currencies are managed by setting interest rates, on which all control has been lost, are they managed anymore?

We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.

In This Age of Turbulence The People Want an Exit Out of Credit: An Adventure in a New World Economic Order.

The other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.

It will be either awfully deadly or dramatically long.

A price none of us can afford to pay.

“The current crisis can be overcome only by developing a sense of common purpose.
The alternative to a new international order is chaos.”


- Henry A. Kissinger


Let me provide you with a link to my press release for my open letter to you:

Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!


I am, Mr Chairman, Yours Sincerely,

Shalom P. Hamou AKA 'MC Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640