Yes, this is hilarious … as is our world’s current financial situation, if you have a irrepressible sense of humor or a sense of the absurd. Truly, that we are putting up with it is comical.
“What does that mean?”
“It means that they are going to print a ton of money.”
“Why don’t they just call it the printing money?”
“Because the printing money is the last refuge of failed economic empires and banana republics and the Fed doesn’t want to admit this is their only idea.” …
“So why does the Fed think we have the deflation?”
“Because the CPI said so.” …
“So what is deflating right now?”
“The only thing deflating that I can see, is the Fed’s credibility.”
“Did they have a lot of credibility to start with”
“No.”
“Why not?”
“Because the Fed has been wrong about every major economic development in the past 20 years.”
“Who runs the Fed?”
“The Fed is run by the Ben Bernanke.” …
“What qualifies him to run the Fed?”
“I don’t know, maybe the fact that he has a nice beard.”
“How does the Fed execute the quantitative easing?”
“They print the money and then they buy the treasury bonds.”
“Do they buy the treasury bonds from the Treasury Department?”
“No. They buy the treasury bonds from the Goldman Sachs.”
“You must be shitting me.”
“No.”
“So let me get this straight. If I want to buy the treasury bonds, with my money, I can buy them directly from the Treasury?”
“Yes.” …
“But if the Ben Bernanke wants to buy the treasury bonds using the American people’s money, he does not buy them from the Treasury, he buys them from the Goldman Sachs?”
“Exactly.”
“And does the Goldman Sachs give him a good price?”
“Of course not, they are the Goldman Sachs, they make their living ripping off the American people.” …
“So the Goldman Sachs can front run the Fed and give them the worst possible price on the treasury bonds?”
“Yes, exactly.”
“And the Fed is okay with this blatant theft from the American people?”
“Of course, otherwise the Fed would just buy the treasury bonds directly from the Treasury Department.” …
“So the guy in charge of the American people’s money when dealing with the Goldman Sachs used to be a partner at the Goldman Sachs?
“Yes.”
“And nobody has a problem with this?”
“Apparently not.”
“Is this an episode of the Twilight Zone?”
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