Prominent British Editor Apologizes for Defense of Fed
(The New American) -- by Alex Newman --
The high-profile international-business editor of the U.K. Telegraph, Ambrose Evans-Pritchard, shocked and pleased readers with an apology for his past support of the U.S. Federal Reserve System, its chairman, and its policies.
“I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing,” he wrote in the piece, entitled "Shut Down the Fed." “Quantitative easing,” of course, is Fed-speak for creating new currency out of thin air.
“My pathetic assumption was that Ben Bernanke would deploy further QE only to stave off DEFLATION, not to create INFLATION. If the Federal Open Market Committee cannot see the difference, God help America,” he continued.
Evans-Pritchard then proceeded to savage the Fed’s admitted plans to purposefully create inflation. “NO, NO, NO, this cannot possibly be true,” he wrote of the central bank’s recently announced plot to print trillions more dollars, adding that the doctrines and theories being pursued by Fed boss Ben Bernanke were proven to be “bunk” almost a century ago.
“So all those hillsmen in Idaho, with their Colt 45s and boxes of krugerrands, who sent furious emails to the Telegraph accusing me of defending a hyperinflating establishment cabal were right all along. The Fed is indeed out of control,” he wrote. “The sophisticates at banking conferences in London, Frankfurt, and New York who apologized for this primitive monetary creationism — as I did — are the ones who lost the plot.”...
The Fed and its cohorts are indeed out of control. As reported by The New American magazine earlier this year in an article entitled "Fed Manipulations in the Crosshairs," the central bank has been manipulating markets from stocks and bonds to real estate and precious metals. And it has been printing trillions of dollars, setting up front companies to distribute the funds to insider financial institutions, and even sending trillions of newly created federal reserve notes to foreign firms and central banks.
As the banking cartel prepares to further devalue the dollar, and its allies in government ready themselves to hide the obvious inflation using the bogus “consumer price index,” which conveniently does not take into account food or energy prices, Americans must be prepared. If and when federal reserve notes collapse in value, a plan to implement a global fiat currency is already in place, as reported by The New American in "Waking Up to a World Currency" and "The Emerging Global Fed." The consequences of such a move would be disastrous for the world. And particularly for Americans...MORE...LINK
Ambrose Evans-Pritchard, international business editor of the Daily Telegraph