Monday, November 15, 2010

Anti-Fed Infiltraitors?

An odd group has put together an open letter to Fed Chairman Ben Bernanke calling for an end to QE2.

What's odd about this group is that many of them tend not to generally comment on economic matters, others tend to have little understanding about money or the business cycle.

For example, Bill Kristol of the Weekly Standard signed the letter. There is no indication he has any special knowledge about economics.

The short-seller Jim Chanos is also a signer. Chanos, who has been raising his political profile of late, was recently named along with Felix Rohatyn as an adviser to incoming New York Governor Andrew Cuomo.

A couple of months back, in a private discussion, Chanoss told me he had no opinion on gold. I also got the sense he had no understanding of the business cycle.

One can very easily get the sense that many signers of this letter are jumping on a popular bandwagon to raise their own profiles.

They may sound like End the Fed types, but most of them look to me more like control freak opportunists.

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