Let’s Gear Up for MASSIVE INFLATION
I heard an interview on Fox News where Ben Bernanke was quoted… admitting that the Fed’s “loaned” hundreds of billions to the banks. I wanted to back this up by googling the interview. Google seems to be blocking this story… so I went to Yahoo Search. I found it immediately.
Out of many hits I picked this link and learned the interview was originally on 60 minutes:
[ November 14, 2010 UPDATE: It appears that these video-clips of Bernanke's admission have BEEN REMOVED from the Internet. The quote below IS ACCURATE]
Asked if it’s tax money (the hundreds of billions the Fed is “loaning”), Bernanke said,
“It’s not tax money. The banks have accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed. It’s much more akin to printing money than it is to borrowing.”
The interview continues…
“You’ve been printing money?” Pelley (60 minutes reporter) asked.
“Well, effectively,” Bernanke said. “And we need to do that, because our economy is very weak and inflation is very low. When the economy begins to recover, that will be the time that we need to unwind those programs, raise interest rates, reduce the money supply, and make sure that we have a recovery that does not involve inflation.”
This is “creating” “dollars” out of thin air… this system is leading us into a massive hyper-inflationary catastrophe! The Bible prophecies such inflation in Revelation 6: 6-7
I think the Bible actually gives us the inflation rate:
Seal #3: Opens with a black horse, the rider holding measuring scales, and a voice saying: "A measure of wheat for a penny, and three measures of barley for a penny..." This predicts MASSIVE INFLATION since a "penny" translates as "a denarius: a Roman silver coin being equal in value to 16 asses" and "a measure: is less than one US quart". In January 2009 I researched the current price of a donkey in the USA and the average is $824. Sixteen asses would be about $13,184. So, it appears, early in the Tribulation some will be paying over a $13,000 value for about one quart of wheat or the same $13,000 will almost buy 3 jars of barley (see Rev 6: 5-6)—clark
As always comments appreciated, Clark Callear
Posted by Clark Callear