Special report on hyperinflation 2012

There is nothing the Fed can do to have meaningful positive impact on the economy.  There is nothing the Fed can do to make the U.S. banking system healthy.  What Mr. Bernanke has done has been little more than trying to delay a day-of-reckoning for the banks and the financial system.  Keeping the banking system sound is the Fed’s primary responsibility; fostering sustainable economic growth and contained inflation are secondary considerations.  The quantitative easings were an effort to provide the banking system with adequate liquidity, but the related actions were sold to the public and the media as an effort to boost economic activity.  Future Fed “stimulus” actions should be of a similar nature.
By John Williams (ShadowStats.Com)

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