[RTFX-Trading]

Ben S. Bernanke
Born December 13, 1953

Ben S. Bernanke is the current Chairman and a member of the Federal Reserve System. Dr. Bernanke is also serving as Chairman of the Federal Open Market Committee (FOMC). He succeeds Alan Greenspan and was appointed as a member of the Board to a full 14-year term, which expires 31st of January, 2020, and to a four-year term as Chairman, which expires 31st ofJanuary, 2010.

In 2002, the word "deflation" began appearing in the business news. Bernanke gave a speech about deflation where he mentioned that the government in a fiat money system owns the tools needed for creating money. Controlling the means of production of money means the government always has the power to avoid deflation by simply issuing money. During a speech he referred to a statement by Milton Friedman about using a "helicopter drop" of money into the economy to fight deflation, and since then critics refer to him as "Helicopter Ben" or to his "helicopter printing press." Bernanke went on to say "people know that inflation erodes the real value of the government's debt and, therefore, that it is in the interest of the government to create some inflation." For example, while Greenspan (Former Fed Chairman) publicly supported President Clinton's deficit reduction plan and the Bush tax cuts, Bernanke, stated that taxation policy was none of his business, and that his exclusive responsibility was monetary policy. He believes fiscal policy and wider society related issues were what politicians were for and got elected for. Indeed, in his undergraduate economics textbooks he somewhat distances himself from the rhetorical economic libertarianism of Greenspan.

Source: http://en.wikipedia.org

Emman Xuereb
Trading Desk
RTFX Ltd
Head Office

Level 2, Suite 2, The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel: +356 27 78 01 35
Fax: +356 21 41 24 58
Web: www.rtfx.com

This message and any attachments (the "message") are intended solely for the addressees and are confidential. If you receive this message in error, please delete it and immediately notify the sender. Any use not in accordance with its purpose, any dissemination or disclosure, either whole or partial, is prohibited except with formal approval. The internet cannot guarantee the integrity of this message. RTFX Ltd (and its subsidiaries) shall (will) not therefore be liable for the message if modified. Do not print this message unless it is necessary, consider the environment. RTFX Ltd holds a Category 3 license issued by the Malta Financial Services Authority.