In December the markets were euphoric when Ben Bernake, the Federal Reserve Chairman made the unexpected decision to reduce liquidity by partially tapering the $85 Billion used to buy toxic assets from the collapse caused by the Sub Prime debacle. Did Ben Bernake do an exemplary job at the helm, by steering the economy or was satisfying his ego more important? As I read a majority, close to 90% of those asked about the decision, expected the decision to be deferred. It is simply my opinion that the experiment of Quantitative Easing introduced by Ben Bernake helped keep the stock market liquid and will potentially create mass inflation.  He infused printed money into the hands of the bankers all at the expense of the taxpayer.

My point is that the average investor looking to invest in stocks like Apple or Google ($550-$1000/share) are just not capable to risk that much personal equity to benefit from the rally. Though I believe the Federal Reserve must curtail printing at some point, the timing may have been inappropriate. The economic data was suspect to say the least. In my own opinion the statistics unveiled could simply have been manipulated to achieve the levels required to take action. Reminds me of what the Banksters did to bring Greece into the fold of the European Union as well as others. Lies, lies, lies. Ultimately the taxpayers will be on the hook at the expense of Corruption, Greed and now Personal Ego’s. I hope I am wrong and that we can restore the integrity in an economic system we are all tied too.

Unfortunately unless heads start to roll, the majority of hard working people will continue to suffer at the hands of crooked bankers and politicians.

Sincerely, Philip Magnoli –My friends call me Don Filippo- The FX Specialist.

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