Mish: Instead of having dinner with those that caused the problem and have no idea how to fix it, the powers that be should have instead sat down with the top 20 economic bloggers as to what to do. We have been warning about these problems for years.

Volcker, for his part, says the current crisis has its roots in the lack of restraint inherent in the highly leveraged system that evolved, one in which winners were rewarded exorbitantly but the inverse didn't seem to hold.

"The first panacea for a mismanaged nation is inflation of the currency; the second is war."

-- Ernest Hemingway, Esquire magazine, September 1935

"Price stability is something which is essential for the poorest and the most vulnerable of our citizens. They cannot protect themselves against inflation. It is extremely important that we understand that moderation today is necessary if we want to deliver price stability in the medium term."

- European Central Bank president Jean-Claude Trichet, April 2008

Ideas On How To Invest To Protect Your Savings From The Fed:

Currency Funds: CNY, FXA. Commodity Indexes: RJA, RJI, RJN. Gold and Silver ETFs: GLD, SLV. Conservative Companies With Solid Balance Sheets: UNAM

Click Here to contact me for more ideas or with your suggestions.

What's Causing These Problems?

Why Assets Are Down And Commodities Are Up.

Why The Fed's Mandate Must Change.

Who Was Ludwig Von Mises?

The Fed Apologists.

What Causes Stagflation.

Asset Bubble Limits.

Please contact FakeBen if you'd like to write your own articles. Thanks!

Price Stability by cRavias

The Fed Is Terrified (or so some of us think) by cRavias

History repeats itself, first as tragedy, second as farce by cRavias

What ever happened to the monoline insurers? Regulators were saying how necessary and urgent a solution was. Guess not.

The Fed says the slowing economy will be disinflationary. The Fed says we are in recession. Oil is over $105 a barrel. So what does that mean for the price of oil when we come out of recession? $200? $400? Remember, this is the same Fed that said the subprime fallout was contained! Jokers to the left of me. Jokers to the right of me. But here I am.