Bargain With the Devil

Earlier today we wrote about more Ponzi involving the Federal Reserve. Then I went to lunch and read the Wall Street Journal top headline; FED GEARS UP FOR STIMULUS.

What does this mean? Ready....? It means the Federal Reserve is getting ready to buy more U.S. Treasuries....and not every one on the Federal Reserve Board is happy about this latest round of "quantitative easing".

Fed Chairman Ben Bernanke's push to restart the bond-buying program—a form of monetary stimulus known as quantitative easing—has been greeted with deep skepticism among some of his colleagues.

In some of his strongest words yet, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said Monday that more expansive monetary policy was a "bargain with the devil."

A Wall Street Journal survey of private sector economists in early October found that the Fed is expected to purchase about $250 billion of Treasury bonds per quarter and continue until mid-2011, amounting to about $750 billion in all.

Hey.....what's another 3/4 of a $trillion between friends?

See it here; http://online.wsj.com/article/SB10001424052702303891804575576533845166848.html?mod=googlenews_wsj

That whole "bargain with the devil" statement sounds kind of serious. I wonder if he would be willing to expand on why he used those words?

I wonder if he means that all of this fake money printing might prolong our false sense of security...and prolong the idea of the American Dream just a little bit longer....but that ultimately we will owe the devil our financial soul....so ultimately we will end up in financial hell?

Again, how sad is it that the wealthiest nation that the world has ever seen....is going to end up in financial hell....because what we had wasn't quite enough...so we spent other people's money...and now we are bankrupt?

Doesn't it feel like just a few years ago that we were all making boat loads of money in our 401(k)s by investing it all in "dot.com" stocks? They seemed to go up about 50% per year and that was going to last as far as the eye could see!

Doesn't it feel like just a few years ago we are all going to buy $500,000 homes with borrowed money, live in them, use the home equity to buy new trucks and vacations....and then flip them and make a tidy profit? Everyone seemed 100% confident this would work...because many people told me flat out..."You can NEVER lose money in real estate....because they aren't making it any more!"

What a sad bunch of human beings we are. Half the country has been to college, 90% have graduated from high school....and yet we all still fell for the lure of easy money and free wealth....a lure that most kindegartners know sounds too good to be true.

No wonder Jesus warned us about the dangers of money so many times. He knew we would take our eyes off of our one true mission (The Great Commission-Matthew 28) as we chased full time after more crap we believed would make us happy...and using money that wasn't ours to buy that crap.

Jesus told us in Revelation 3 what the condition of the last Church on earth would be right before His return...and it sure sounds like the Church in America.

"So, because you are lukewarm--neither hot nor cold--I am about to spit you out of my mouth. You say, 'I am rich; I have acquired wealth and do not need a thing.' But you do not realize that you are wretched, pitiful, poor, blind and naked."