Farcical Fed

http://cafehayek.com/2010/11/farce-becoming-more-farcical.html
"Fed Chairman Ben Bernanke, fresh from injecting hundreds of billions of new U.S. currency units into the economy – and from planning the injection of yet an additional 600 billion such units – criticizes the Chinese government for injecting hundreds of billions of new Chinese currency units into the economy (“Bernanke Takes Aim at China,” Nov. 18).  Apparently, when Beijing increases the supply of Chinese currency it does so as part of what Prof. Bernanke ominously labels a “strategy of currency undervaluation,” but when Uncle Sam does the same thing with U.S. currency units it’s called “quantitative easing” and “a move in the right direction.”"