Has Ben Bernanke found the perfect method for fighting inflation?

It seems like the Fed has become the lender of last resort for goods other than money. At the Federal Reserve meeting this morning at 8 am, Ben Bernanke announced:

“With discount rates at a recent low, being unable to increase banks’ reserve accounts and having reached an impasse with reserve requirements, it looks as though we will have to implement what we have called ‘non-inflationary money printing’.”

As we all know, printing money would just stoke inflation further, so what is needed is more money without increasing overall Money Supply. A method of accomplishing this has troubled economist for many years, but it looks like the Fed may have found a solution. The Federal Reserve has decided to send every bank in the United States 20 autographed pictures of Ben Bernanke and Alan Greenspan. Knowing these can be sold, they can generate money without having to print anymore.

While it remains to be seen whether this will be enough to stymie inflation, Warren Buffett and Bill Gates have both announced they are willing to provide their autographed pictures for the same cause if need be. Some analysts have predicted that this may be the case, seeing as how several banks have refused the first round of autographed pictures, stating they are waiting for Maria Bartiromo to volunteer.

We at Dumbagent.com will keep you updated with what happens.