Bernanke ‘Twist’ Strategy to Inflate Economy Prior to Election
The G20, comprised of the leaders of the twenty most powerful economies in the world, met in Los Cabos, Mexico last week for a scheduled meeting to discuss global financial issues. This meeting was particularly important due to the debt crisis that is spreading across Europe, specifically the troubles in Greece, Spain and Italy that are challenging the survival of the Euro (the common currency of the seventeen-member European Union). With essentially all of the world’s wealth and military power represented at the G20; with one-on-one meetings between many of the heads-of-state of these nations; with all this power in one place – surely the global financial markets were focused on the intellectual decisions and carefully worded statements that would result from this assembly of leadership? Well, maybe not! The global financial markets were focused on one mild, bearded, former academic who was holding court in Washington, D.C. Yes, the world was waiting for words from the true power, the U.S. Federal Reserve Chairman, Ben Bernanke.