Author Topic: Will the Federal Reserve Cause a Civil War?  (Read 413 times)

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Offline Ptarmigan

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Will the Federal Reserve Cause a Civil War?
« on: October 20, 2010, 10:40:46 AM »
Will the Federal Reserve Cause a Civil War?
Posted by Stephen Gandel
Tuesday, October 19, 2010 at 5:35 pm
Time

What is the most likely cause today of civil unrest? Immigration. Gay Marriage. Abortion. The Results of Election Day. The Mosque at Ground Zero. Nope.

Try the Federal Reserve. November 3rd is when the Federal Reserve's next policy committee meeting ends, and if you thought this was just another boring money meeting you would be wrong. It could be the most important meeting in Fed history, maybe. The US central bank is expected to announce its next move to boost the faltering economic recovery. To say there has been considerable debate and anxiety among Fed watchers about what the central bank should do would be an understatement. Chairman Ben Bernanke has indicated in recent speeches that the central bank plans to try to drive down already low-interest rates by buying up long-term bonds. A number of people both inside the Fed and out believe this is the wrong move. But one website seems to believe that Ben's plan might actually lead to armed conflict. Last week, the blog, Zerohedge wrote, paraphrasing a top economic forecaster David Rosenberg, that it believed the Fed's plan is not only moronic, but "positions US society one step closer to civil war if not worse." (See photos inside the world of Ben Bernanke)

I'm not sure what "if not worse," is supposed to mean. But, with the Tea Party gaining followers, the idea of civil war over economic issues doesn't seem that far-fetched these days. And Ron Paul definitely thinks the Fed should be ended. In TIME's recently cover story on the militia movement many said these groups are powder kegs looking for a catalyst. So why not a Fed policy committee meeting. Still, I'm not convinced we are headed for Fedamageddon. That being said, the Fed's early November meeting is an important one. Here's why:

Time-Will the Federal Reserve Cause a Civil War?

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Lot of civil wars happen over economic matters. The American Civil War happened because of economic factors.
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Offline Eupher

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Re: Will the Federal Reserve Cause a Civil War?
« Reply #1 on: October 20, 2010, 10:49:37 AM »
Kinda surprising that this is coming out of Slimes Magazine, where not too terribly long ago, Bernanke was chosen as "Slimes Turd of the Year".

I'm no economic whiz, but I did read that Bernanke wants to institute policies that deliberately provoke inflation.

As if $3 per gallon of gas isn't already inflated enough through taxes, taxes, and more taxes.  :whatever:
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