Thursday, August 27, 2009

Bernanke Gets to Experience Phony Money Creation, Up Close

While Fed Chairman Ben Bernanke has a day job printing money by writing checks out of thin air that he shovels to Goldman Sachs and JPMorgan Chase, which then dilutes the value of the money in everyonelse's pocket, Bernanke reportedly doesn't like anyone diluting his personal checking account funds.

His wife, Anna, had her pocketbook stolen in a Starbucks by a tool, Lee Reid, of a "master criminal". Sounds just like Bernanke so far, doesn't it, "master criminal" and all?

Reid starts writing checks on the Bernanke account. Sort of like Bernanke writing checks on the "People's Bank", the Federal Reserve. Reid then apparently even does some kind of reserve injection maneuver. Just like Bernanke! Here's Newsweek, which broke the story, explaining this maneuver:

Reid deposited two fraudulent $900 checks into K.N.'s bank account—one of them from the Wachovia account of "Ben S. Bernanke and Anna Bernanke." Having inflated K.N.'s account with the fraudulent check from the Bernankes, Reid simultaneously cashed two other fraudulent $4,500 checks that were made out to
K.N. from a third victim, according to federal prosecutors. When all was done, he appears to have walked out of the bank with $9,000.
Since he alerted his bank, Bernanke didn't lose any money. So how is he handling the situation?

"It's fair to say he was not pleased," Newsweek quotes one close associate of Bernanke.

Hey, just like the people who are not pleased with Bernanke's act and want to end the Fed.

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