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pat gilbert
Tustin, CA
United States

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What is Bernanke's end game?

I have read some talk about his end game being a new world wide currency.

http://mises.org/daily/5278/The-End-of-Bernankes-End-Game

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Barry Palmer 50+
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Dec 13 2012: Pat, I think and hope that we are witnessing Bernanke's end game now.

If somehow the economy manages to keep from collapsing for a year or two, and shows a few signs of real recovery, I think Bernanke will retire and be seen by many as a hero. Then it will hit the fan, and Bernanke will blame it on someone else. If the economy collapses while Bernanke is still chairman, there will be demands for his resignation. His current unprecedented actions are on such a scale that he could not avoid responsibility.

I do not understand how a new world currency would be seen as a solution to anything. A new world currency will require international cooperation, and the bankers of Europe, and Germany in particular, will not agree to it. Also, China will insist that the value of the notes it is holding will be protected.
- pat gilbert 100+
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  Dec 13 2012: Bernanke has said privately that he will not stick around after 2014. You notice that Geithner and Clinton left as well, rats leaving the sinking ship?
  
  It is how it has been done in the past. It is not completely a logical thing it is a way to reset read a little about this at the Wiemar Republic.
Barry Palmer 50+
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Dec 12 2012: I don't know the man, but I suspect that Bernanke expects to retire as a hero to the financial industry, the nation and the world.

His speaker's fees, payback from the big bankers, will keep him very comfortable.

Destroy the economy and become a hero. (Is this 1984?)

IMO, a global currency has not the slightest chance of being taken seriously until the Euro and all the states that use it have reached stability. That lesson is clear.
- pat gilbert 100+
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  Dec 12 2012: 1984 might be the best to hope for?
  
  He is destroying the economy with the QE's and TWIST. The question is what is the end game?
  
  In Germany after the Wiemar Republic the people were agreeable to anything, oh that's right the Fuhrer...
  
  Stability is not what creates change it is instability that will ring in the new world currency that lesson is clear.
Ken brown 30+
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Dec 12 2012: What would the new currency be based off? Silver? like the conspiracists have been toting for the last decade. I love listening to those guys, they have some interesting theories. I'm not hinting that you lean this way but what resource will it be based on?

Bernanke....Hmmm. Does the reserve bank have it's own internal political forces at odds with each other or is it just pure Keynessian through and through?
- pat gilbert 100+
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  Dec 12 2012: In history there has only been one currency that has not disappeared after this much printing of money out of thin air.
  
  I think they just view it as the only option to satisfy the politicians irresponsibility, they are not autonomous.
  - Ken brown 30+
    
    0
    Dec 13 2012: So who owns Bernanke?
    - pat gilbert 100+
      
      0
      
      Dec 13 2012: Don't know if anyone does. As I was saying it may just be a case of this is the only way that the irresponsible spending can be financed.
      
      War and inflation typically go together which would excuse Bernanke somewhat.
Robert Winner 50+
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Dec 12 2012: Ben Bernanke has opened the Fed's checkbook in an unprecedented fashion, and while he claims to be "saving" the financial system, in reality he is destroying it. He has kept the failed firms afloat, thus preventing the necessary transfers of resources from lower-valued uses to higher-valued uses.

What ever the end game is the trillions of dollars given to failing efforts and the dollar being debased we are no better off. We are at the point that inflation is about to hit at the same time a depression is upon us. Like your doctor saying do not worry about the deadly disease you have your cancer is eating it up.

Once again what could have been learned from the failures of Argentinia.

With the EU in a trumoil, Japan on QE15 (?), the dollar debased, the plans of a universal currency would be like the ultimate goal of Keynesians ... then everone could print money as a solution.

Austrians = 1 Keynesians = Hope and change = 0

BONUS QUESTION: Will Bernanke not seek re-election to his post? He has said this ... what do you think. In the last polls of the most powerful people in the world Bernanke was #4 .... the president #8.
- pat gilbert 100+
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  Dec 12 2012: I'm thinking that Bernanke realizes he is sending the U.S. down the drain at an ever increasing pace. But he is saying it is the only way to finance the irresponsibility of the politicians and the constituents who allow it.
  
  I think his end game is to institute a new world wide currency, which will be accepted by citizens brought to their knees as in the Wiemar Republic. I'm guessing any dollar wealth will have the same value as green backs at the end of the civil war?
Rich Curren
- 0
Dec 12 2012: The opening to this article leads one to believe this could be right wing nuttery.

"In a recent screed masquerading as the thoughts of a Nobel prize winner in economics, Paul Krugman excoriates those who speak of..."

Doesn't exactly seem terribly objective to me. Those on the far far right, the ones that believe fluoride and the UN are plots against them, love to hate Krugman. I'd call that, and the subject-a worldwide currency (an favorite ongoing wing-nut conspiracy) "tells" that this theory shouldn't be taken seriously.

Just my 2 cents.
- pat gilbert 100+
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  Dec 12 2012: Very good, and as to Bernanke's end game?

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