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Bernanke’s Role as “the Pusher”

Written by Gary North on June 21, 2013

Stocks fell, bonds fell, gold fell, oil fell, commodities fell. All over the world, markets tanked.

Why? Because Bernanke hinted that the U.S. economy is recovering, and the Federal Reserve may cut back sooner than expected on its trillion-dollar-a-year pump-priming operation.

Bernanke is the equivalent of the head of the international drug cartel. He is the pusher. He is the man supplying the daily “fix.” Around the world, addicts depend on his supplies of digital “snow.” The fix is in. Bernanke is the fixer.

When the pusher hints that the supply of the investors’ drug of choice — digital money — is likely to be reduced, they panic. The fear of withdrawal discomfort spreads through “the street.”

There was a rush to the exits yesterday. People run to cash, especially the dollar, when they think the markets are going to lose their supply of counterfeit money. The world is dependent on the continuing supply of digital money, which is supported by government IOUs.

Bernanke is now in a tight spot. If he even whispers the word “recovery,” he causes worldwide market panic. The world wants to hear a different word: “continued.” It wants a continued supply of digital money. The word “recovery” suggests that the pusher will reduce the supply of hallucination. The capital markets are desperate for continued hallucination.

Central banks supply hallucinations. They create money, and the investing world pretends that this is capital. It isn’t capital. It is no more capital than heroin is a nutrient. Heroin is a tool for keeping people from coming to grips with reality. So is central bank monetary inflation.

When Bernanke says “recovery,” he is hinting at a reduction in the supply of his only product: the most widely used hallucinatory drug. The thought of the effects of withdrawal sends terror into the hearts of addicts. Around the world, they ran for the exits. They want money. They need money. Without money, their dreams of wealth and power are hopeless.

Like any addict whose pusher tells him the supply may tighten, they started buying at any price. These addicts stock up on the drug of choice by selling assets. That’s what they did, all over the world.

They will do whatever it takes to keep reality at bay.

Continue Reading on www.marketwatch.com

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2 thoughts on “Bernanke’s Role as “the Pusher”

  1. Bob Marshall says:

    Like Obama, Bernanke is a puppet of the international bankers.

  2. eric pastorino says:

    10-4 on that bob