Federal Reserve chairman Ben Bernanke has been named TIME person of the year for 2009 and hailed as a saviour when in the real world he has overseen the worsening of the financial crisis, the looting of the American economy by foreign offshore banks and the destruction of the Dollar.

In a world where those vastly escalating war are awarded the Nobel Peace Prize, it makes perfect sense to award the Federal Reserve chairman with person of the year.

“His creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression, and he still wields unrivaled power over our money, our jobs, our savings and our national future.” writes TIME.

The magazine also bizarrely states that Bernanke launched “a groundbreaking public relations campaign to demystify the Fed”, despite the fact that the chairman has consistently lobbied Congress for protection of the Fed’s “independence” (read secrecy), while categorically refusing to answer questions regarding the Fed’s decision making.

Bernanke has overseen the handing over of trillions of dollars to foreign banks and has defied lawsuits to keep secret the destination of the money from the American people.

The timing of the announcement couldn’t be more perfect. As NBC’s Matt Laur pointed out, Bernanke can go to Capitol Hill tomorrow, hold up TIME magazine and ask to be reappointed as Fed chairman.

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