These recently leaked letters from Ben and Barry shed some light on our President’s secret strategy -
_____________________________________________________________________________
Ben Bernanke - Federal Reserve Chairman
President Barack Obama August 6, 2013 The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500 — Confidential —-
Dear Mr. President,
I am ever more worried about the path we are taking in dealing with the nation’s debt and our money supply. As we have discussed on several occasions, creating money in massive quantities, which we are doing every month, is like giving drugs to a drug addict. We produced the drug-induced euphoria in the markets that you wanted and government expansion is being financed with the borrowed money, but a day of reckoning is coming.
The world has never seen debt at the levels we are creating it. Nothing even comes close. Every thinking person knows that our present course is not sustainable. Honestly, Mr. President, if you just do the math you will see that our current unfunded liabilities cannot be paid. You simply cannot tax our grand-children at the rate that will be required and still have a productive economy. We are putting such a load of obligations in this wagon that future generations will not be able to pull it.
The further we go down this road, the more painful the correction is going to be. You see what happens when I even suggest that I may slow down on my “quantitative easing”. The markets panic. So I can’t do that without a very serious contraction. You and I will be blamed.
But I can’t keep printing billions of dollars endlessly without destroying the value of the dollar. I am already having trouble finding buyers for our bonds. And the interest rate on the debt is sure to rise as the bonds become less desirable. That will wreak havoc on our budget as debt service takes an ever increasing share of tax revenue. We are going to get blamed for that.
I know our goal has been to push this trouble down the road, and I am still manufacturing fake prosperity as fast as I can, but I just don’t know if I can push the coming economic chaos off into the next President’s term. For that reason I am submitting my resignation and would like to be replaced soon.
I have the luxury of jumping ship, but you must remain.
Regretfully,
Ben Bernanke
______________________________________________________________________________
______________________________________________________________________________
President Barack Obama
The Honorable Ben Bernanke August 14, 2013
Chairman
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington, DC 20551 — Confidential —
Dear Ben,
I am sorry to see you go and I appreciate your concern for me, but you worry too much. We have a plan to manage the problems you describe. You need to understand that the economic problems ahead are not the issue. The issue is who gets blamed for them.
Don’t you see, Ben, if you control The Narrative it doesn’t matter what happens. The Narrative is shaped by the mainstream media, popular culture and the education establishment. They are all cheerleaders for big government. They are firmly on my side.
Look at Obamacare. I sold this program with bold lies. I firmly promised people that they could keep their current plans and their current doctors. I assured them it would all be much less expensive. I said it would lower the deficit and help businesses. I told them it would improve the quality of medicine.
In reality, every claim I made was the opposite of the truth. The law is so horrendous that many of my supporters have demanded exemptions. But look, Ben, The Narrative has not changed. Those who shape public opinion still sell the dream and ignore the reality. Those who oppose Obamacare are demonized. Don’t you see the power in that? The facts don’t matter.
The current Obamacare legislation is just Step 1, anyway. It was designed to fail. When it fails, the extremely messy failure will be blamed on greedy insurance companies and greedy doctors. From this crisis we will create a clamor for Step 2 – the complete government control of health care. I win.
So chaos is my friend. You need to read Saul Alinsky or the Cloward-Piven plan to understand how this works. The economic turmoil you fear does not frighten me. Managed properly it is the perfect tool for the fundamental transformation of this country.
I will show you another example this fall when we approach the debt ceiling negotiations. I will accomplish 3 things with relative ease:
- I will humiliate the Republicans in the budget showdown. They may have a winning hand if you look at the facts about debt and spending, but the facts will not be discussed. The story will be that extremist, jihadist Republicans want to shut down the government and hurt people. The media will herd these Republicans around like sheep. It’s just fun to watch.
- I will single out the Tea Party for special humiliation. Their power in 2010 was a serious threat to my plans, so we have had a multi-agency attack on them since that time. They simply must be marginalized. Those of us in power in Washington understand the threat they represent.
- The coming shut-down fight must last long enough to be painful. You and I know the economy is not doing well and blaming Bush is a weaker argument with each passing year. If I can force something that is damaging, and blame the Tea Party, I will be in a perfect position for the critical 2014 elections. I’ll say, “The economy would be great now if those Tea Party extremists had not wrecked everything for you.” It’s easy if you control the Narrative. And I do.
That’s the plan, Ben, and it should work fine. I am sorry that you don’t have the stomach for it. I will find a replacement for you who is comfortable borrowing more money from our grandchildren. That level of heartlessness is required.
Thanks for all you’ve done,
President Barack Obama
______________________________________________________________________________