Video
Bloomberg Discovers Federal Reserve Inflation ... Sort of
In today's "Single Best Chart," Bloomberg's Scarlet Fu displays how inflation has increased in the 100 years since the creation of the Federal Reserve. She speaks on Bloomberg Television's "Bloomberg Surveillance." – Bloomberg, YouTube
Dominant Social Theme: Wow, the Fed really has "inflated" the dollar.
Free-Market Analysis: Bloomberg seems to be making progress as a mainstream reporting entity reporting actual facts rather than an endless supply of entertaining economic fictions.
In the case of the video above, Bloomberg provides us with an image of a "hockey stick" chart showing just how aggressively the US central bank has inflated the dollar since its inception in 1913. There are those who claim the dollar has been inflated until it is worth less than a single cent.
Bloomberg doesn't get the inflation argument entirely correct, of course. The attractive newscaster still seems to be using the mainstream definition that confuses prices with monetary volume. "Price inflation" is not "dollar inflation" if we want to be exact about it.
The inflation the announcer refers to is a Keynesian term. We can only surmise that the two terms have been swapped out (on purpose, long ago) as part of a larger dominant social theme. The power elite that surely expects to attain formal global governance doesn't want people to understand that central banks print money.
If inflation still referred to money printing, people would be constantly reminded of the fakery that is involved in the current money system. By reconfiguring the definition so that inflation refers to prices, attention is redirected from the monetary engine itself.
But the definition is ... nonsensical. One can "expand" a (money) supply. One cannot "expand" a price. One can RAISE a price. But people are so conditioned by mainstream rhetoric that they don't notice the essential illogic.
Still, progress has been made. Bloomberg has discovered – in this video report anyway – that the Fed has managed to reduce people's savings in the past century by nearly 100 percent.
Conclusion: The report doesn't draw that conclusion, of course, but at least provides some evidence of the damage that's been done.
(Video from selfownership1's YouTube user channel.)
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Posted by 1776 on 01/25/13 12:38 PM
Luxury brands snake their way into China Updated: 2013-01-25 By Wang Wen (China Daily)
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Posted by 1776 on 01/24/13 03:06 PM
Published on Dec 11, 2012
Is America too big for democracy? Too big for its traditional republican form? What does it mean if the answer is yes? This video series proposes that the source of our biggest social and political problems is our SIZE.
Click to view link
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Posted by Danny B on 01/24/13 10:29 AM
Dear Bell, as you mentioned, that vid wasn't very satisfying. Here is another vid on beliefs and power. It mentions the FED.
Click to view link
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Posted by stevor on 01/23/13 05:09 PM
your link to the video doesn't work
Reply from The Daily Bell
See below ...
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Posted by Friend_of_John_Galt on 01/23/13 03:15 PM
Here is a new link from You Tube: Click to view link
Reply from The Daily Bell
Thanks.
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Posted by bionic mosquito on 01/23/13 02:11 PM
From the Bloomberg video (thank you, 1776) comes the headline:
'Is Inflation the Legacy of the Federal Reserve?'
As DB suggests, they are speaking of price inflation, and not monetary inflation. However, neither price nor monetary inflation is the ultimate 'legacy' of the Federal Reserve (or any central bank).
How about World War I & 2, the tremendous growth of government intrusions multiplying the control of the population, the wealth transfer from the 98% to about 2%, the tremendous control and therefore concentration of wealth for the 0.002%, the destruction and transfer of productive work throughout the west, the debt piled to infinity at levels that could not have been reached without the Fed, the creation of so-called too-big-to-fail institutions, the threat to the division-of-labor and therefore to the existence of 95% of the world's population? The list is, of course, virtually endless.
The other thought that came to mind while watching the video was that there was no mention of 1971. It is now becoming fashionable, it seems (given this is Bloomberg, for goodness' sakes), to point out the Fed. But the big curve in the hockey stick came in 1971 when Nixon defaulted on gold. The commentator mentioned the gold standard, but lumped into the creation of the Fed as if it was an afterthought of whatever happened 100 years ago.
I guess the mainstream isn't ready to mention the discipline that gold (even a government-managed system) brought to government spending and inflation (of both prices and money).
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Posted by Abu Aardvark on 01/23/13 12:41 PM
DB: "Bloomberg seems to be making progress as a mainstream reporting entity reporting actual facts rather than an endless supply of entertaining economic fictions"
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Something's up, guys. 90 minutes ago, the most visited German news website, "Bild" - the online version of the tabloid, bestselling newspaper outside Japan with the sixth-largest circulation worldwide" - uploaded an article, titled, "Hundreds Of Children Affected: Sleeping Sickness After Swine Flu Vaccination"
Here's the google-translation:
Click to view link
Everyone who has even a modicum knowledge about the German media landscape will know how significant this is.
See also:
Click to view link
Reply from The Daily Bell
Thanks, Abu ... They must be panicking given all the bad press about vaccines generally. Seems like damage control. Get it out, report that the vaccine is off the market. A tragedy, yes ... but one that the "authorities" acted quickly to alleviate - moving within two years time to (no less!) to deal with ...
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Posted by 1776 on 01/23/13 11:50 AM
Your video got edited by the ministry of truth! So, I went ahead and found it for your post!
Is Inflation the Legacy of the Federal Reserve?
Click to view link
Reply from The Daily Bell
Thanks. We can only put up YouTube videos.
