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Hedge Fund Manager Bill Fleckenstein: Fed Money Printing to Cover Bank Theft Is Leading to Food Inflation Worldwide

Posted By admin On February 6, 2011 @ 7:02 am In Money Watch | Comments Disabled

Washington’s Blog
Feb 6, 2011

Dylan Ratigan says that the Fed is printing money to cover enormous theft by the big banks [1], and that money printing is leading to food inflation [2] worldwide. (Bad weather and speculation on commodities are obviously also contributing to rising food prices).

Bill Fleckenstein largely agrees, telling Ratigan:

  • Money printing correlates quite well to rise in commodity prices, but not precisely
  • When you “print money out of thin air”, you don’t know where it will go
  • Printing money turns the average person into a speculator (think Chinese farmers buying copper)
  • 80% of money in countries like Egypt goes to buying food (and that’s for the lucky ones who have jobs)
  • 40% of political donations in the U.S. comes from giant banks … so the banks own Washington
  • The Fed won’t ever face it’s mistakes, and always just wants to print more money

Stock up with Fresh Food that lasts with eFoodsDirect (AD) [3]

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URLs in this post:

[1] theft by the big banks: http://www.washingtonsblog.com/2010/11/its-not-great-recssion-its-great-bank.html

[2] money printing is leading to food inflation: http://www.washingtonsblog.com/2011/01/quantitative-easing-is-causing-food.html

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

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