Report: Palin Tells Bernanke 'Cease and Desist' on Easing

Report: Palin Tells Bernanke 'Cease and Desist' on Easing

Monday, 08 Nov 2010 02:53 PM

Tea Party favorite Sarah Palin weighed in Monday on the global debate over the Federal Reserve's $600 billion plan to buy up government debt, suggesting Fed Chairman Ben Bernanke should "cease and desist."

"We shouldn't be playing around with inflation," Palin, who is widely seen as a prospective 2012 Republican presidential candidate, said in remarks prepared for a Monday speech in Phoenix.

"We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It's the only way we can get our economy back on the right track."

Excerpts of the remarks were published online by the conservative National Review magazine. Palin's staff was not immediately available for comment. The report said the remarks would be delivered in a keynote address at a trade association convention.

Palin, the former Alaska governor and 2008 Republican vice presidential nominee, is a top Republican Party figure and leader of the Tea Party movement, which helped Republicans recapture control of the House last week. The loosely organized movement includes conservatives and libertarians, some of whom would like to abolish the Federal Reserve system.

Representative Paul Ryan, expected to become chairman of the House budget committee when Republicans take control of the chamber in January, said on Sunday the advantages of the central's move to inject more money into the U.S. economy "are very low."

"I think it’s going to give us a big inflation problem down the road," Ryan said.

President Barack Obama and other U.S. officials defend the Fed's decision to buy $600 billion in U.S. Treasury debt as a means to stimulate the economy and maintain global stability.

Palin's remarks add her to a growing list of critics, including officials from China, Germany and Brazil, who are concerned that the Fed plan could bring instability instead.

She appeared to align herself with recent criticism from German Finance Minister Wolfgang Schaeuble.

"The German finance minister called the Fed's proposals 'clueless.' When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it's time for Chairman Bernanke to cease and desist," Palin said.

Palin has not said whether she will make a White House bid in 2012. But she has been using public appearances to bolster her own political and policy credentials for the job.

http://www.moneynews.com/Headline/Sarah ... /id/376380

Palin is right and to put in real simple terms Bernake will cause inflation. Why ? To make Americans spend money they don't have to supposedly get the economy moving.

He and the Prez will force Americans who are trying to pay off their debts and become solvent to spend their money on food and other neccesities instead. Whose side are they on ?? BIG BUSINESS !!