Bernanke Does Senate: Day Two Of The Chairman's Humphrey Hawkins Testimony

Tyler Durden's picture

Bernanke's prepared remarks to Senate in the second day of the bi-annual presentation monetary policy presentation will be identical to those from yesterday. The only difference will come in teh Q&A, which is not so much Q&A as political grandstanding by a bunch of muppets. For those who wish to listen as QE3 is priced in for the third time in as many days, and express other masochistic tendencies, tune in to the C-SPAN webcast below.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thisson's picture

Are we now at the point where pop music is subtly telling us we should be killing bankers?  You be the judge:

http://www.youtube.com/watch?v=4DZoq5H8ZcI

Also the top bookmarked item on my Tumblr: Thisson.tumblr.com

Here are some of the lyrics

Un, deux, trois
Bang, bang, bang

Feathers, i'm plucking feathers
one by one, by one
no more skylarking, around my head
your information
but there's no hiding, behind moulting feathers

On the plane, on my brain, 'bout to do the sho'
40k contract, take it out the do'
dice, symbolise my life, roll 'em on the flo'
from your grubby hands, as you hand the grand stand
you live a shitty life, we live a bon, bon vie
hotter than the book, while we watch the tv
think you got us fooled, ooh never again
first time, shame on me, second time, your time will end

No way, bang your dead, here's your silhouette
je te plumerai la, tête
je te plumerai la, tête
bang your dead, alouette, here's your silhouette
je te plumerai la, tête
je te plumerai la, tête

No way, no, (the clock) it's ticking forward
no way, it's just a cruel, cruel world

Cruel world is fittin', they got us all hittin'
with late night divisions, and lab app decisions
but based with decisions, to fight a fricassée
and you've clearly decided, on how to handle me
difficile, immbocile, is it fake, is it real
are we dying on our feet, are we trying in our sleep
there's a rumour goin' 'round, 'bout the suits runnin' town
if you look into the sky, them birds fly high, high, high

Numbers, you got that number
you're looking outwards, and don't see the big picture
over your shoulder, you'll get no last words
because it's too late, you've clipped your own wings (your own wings)
No way, bang your dead, here's your silhouette
je te plumerai la, tête...

We're never gonna, believe in, the stories, that you're weavin'
we're never gonna, believe in, the stories, that you're weavin'
we're never gonna, believe in, the stories, that you're weavin'
we're believin' in the proof, we're believin' in the truth
we're believin' in each other, not you, you, you

no one ever does it like that anymore
bang, bang, bang (alouette)
when feathers fly, you deny everything yo

snowball777's picture

I prefer the less oblique...

http://www.youtube.com/watch?v=UA5MtAmT24g

"We gonna rock down to....Electric Avenue..."

TheTmfreak's picture

Man when Bernanke is given ANY kind of non soft serve questions he gets really quivery. He is very easily startled. I bet he just loves democrats and their "we love you" "questions."

Manthong's picture

I greatly prefer this secret video of elite progressives making monetary policy.

http://www.youtube.com/watch?v=GhxqIITtTtU&feature=player_embedded

snowball777's picture

You think progressives make monetary policy; that's cute.

dbach's picture

Don't all traders (and even "investors" these days) have masochistic tendencies?

bigdumbnugly's picture

Bernanke's prepared remarks to Senate in the second day of the bi-annual presentation monetary policy presentation will be identical to those from yesterday.

 

are you sure?  its bveen a whole 24 hours and all...

I Am The Unknown Comic's picture

Quivering Lips, bitchez!

malikai's picture

I love this guy. I wish he would lie more!

TheTmfreak's picture

At this point as I listen to this, I dislike bernanke less than these moronic democrats attempting to use bernanke for sensational political points.

malikai's picture

Yea that was pretty funny. They're just a bunch of pandering self-serving asshats who like to hear themselves talk. But I guess that's politics.

trentusa's picture

i saw ben's quivering lower lip yest on Sen Maxine's last question about BAC mortgage settlement. Its true hes not a good deer in headlights. Not like Rangel, the best liari ever saw...

Xibalba's picture

He's gonna craaaaaaaaack!

Cash_is_Trash's picture

Yahweh shall speak to him and tell him to be cool.

Xibalba's picture

Not Yahweh, but Baphomet.  

Cash_is_Trash's picture

Move over Mao, Ben will end more lives than you ever dreamed of!

The Great Print Forward

malikai's picture

Calm down. He said transitory again. Everything's going to be OK.

Quintus's picture

Yeah.  He sounds a bit like someone under a lot of stress.  Someone who might just stop halfway through, say 'Fuck it!' and leave, kicking over some chairs on his way out.  Not a happy chappie at all today.

Xibalba's picture

Like President, like Fed Chairman.  

 

father and son.  

DonnieD's picture

The role of Fed Chaiman is a kamikaze mission at this point. He knows he's probably going to get lynched at some point in the future.

Cash_is_Trash's picture

Greenspat should then be hanging by the balls.

The gallows does well -- that frame shall outlive a thousand banksters.

Zero Govt's picture

I'm not sure anyone has quite 'got' the full gravity of Bernank's statement yesterday amongst all the very valid mockery when Bernank said Gold is not money (God give us strength!!)

I just want to point out this guys job: Chief of the Central Bank of America

Yes just a small trivial point, Bernanke is the Chief of Americas Central Bank and this fuking tool does not understand, or blatently lied in public yesterday to Ron Paul, that Gold is not money and Central Banks only hold the stuff out of "tradition"!

Is this moron making this stuff up as he goes along? Has any minute of any Central Bank in history ever stated they hold Gold for "tradition" or will buy more Gold or sell their Gold because of "tradition"?? This statement is from outer space, away with the fairies, complete LaLa Land!!!

Every Central Banker in the World will either be pissing his pants or slapping his forhead while swearing profusely... or calling Doctors to go and check on Bernanks mental health

Pray if Gold is not money then can Ben clarify what the fuck he thinks is???

Any 'normal' central banker would be out on his bloody arse TODAY having painted himself into a corner with the most moronic of statement of any Banker in the history of moronic Central Bankers. 

Bernank is toast, we can only guess at the hysteria behind the scenes yesterday as Bernanke came off-stage!... he will be gone before year end, they'll make it look like 'retiring' but yesterday the midget muppet lost the plot and signed his suicide note

JohnG's picture

Two "sort of" opposing views:

http://jessescrossroadscafe.blogspot.com/2011/07/gold-daily-and-silver-w...

http://harveyorgan.blogspot.com/2011/07/bernankeis-gold-money-nomassive-...

(so we could have legions of monks pounding eagles into gold leaf....)

What "sort of" worries me is this portion of yesterdays Casey Report interview:

"DG: Yet, historically gold and interest rates and inflation all tend to move up together. Not to get all tangled up, but if interest rates in the U.S. move up and the dollar starts to strengthen, shouldn’t gold then start moving down? But again, that's not the historic case.

TC: It’s not as tangled as you think. The answer you are going to come to for gold depends on what is causing interest rates to move up. If interest rates are moving up because the expectation of inflation is moving up, then that won't hurt gold, it will help gold. On the other hand, if interest rates are moving up because the Federal Reserve is tightening, then that is bad for almost everything that people have been borrowing to buy, which includes gold and silver and stocks generally."

 

So the dollar price may change, the value won't, but I am unconvinced that the market will know the difference.

JohnG's picture

Oops! Forgot:

I own gold because IT IS money.

 

Zero Govt's picture

Gold is money is a matter of fact. It has been money for pretty much every society in the World and for thousands of years dating back to the Pharoahs

For any Central Banker to make such an ignorant statement, especially one coming from the Chief of Americas Central Bank, is quite beyond credulity... was this guy 'Ben' drafted in from kindergarten and given the job yesterday??? 

...look at his face after the Ron Paul grilling.. i think he knows he just signed his suicide note

J.P. Morgan, "Gold is money, everything else is credit."

Right now i can assure you the establishment are scheming up ways to wheel this crone away over the next few months without raising public suspicions Bernank is absolutely dead in the water as a central banker of any standing/intelligence ...i'm also certain his statement will top every list of most stupid quotes made by central bankers in history

Ben Bernanke RIP (Wed 13th July, 2011)

Cash_is_Trash's picture

Who says it passes 1,600 before the end of questioning?

I do, bitchez

I Am The Unknown Comic's picture

1,599  I say, and then watch the Furies and Flying Monkeys unleashed

Quintus's picture

He's only started reading his prepared testimony and he already sounds nervous.  Maybe he's concerned that he may be on the receiving end of some more questioning regarding the nature of money.

sabra1's picture

Bernank: "i meant to say that if you hold gold in the USA it's not real money because it will be confiscated and taxed at 60%. but, if you keep your gold as i do outside the USA, then you keep full value"!

InconvenientCounterParty's picture

"The only difference will come in teh Q&A, which is not so much Q&A as political grandstanding by a bunch of muppets."

nailed it.

Ron Paul didn't do much to differentiate himself.

He's got a fascination with gold that seems to go beyond finance into self gratification. I wonder how many cretins he would throw to the lions for one gold coin?

Beau Tox's picture

Cretin; I would throw a single one of YOU to the lions for ONE gold coin.

MrPike's picture

I would throw him to the lions for free..

I Am The Unknown Comic's picture

Q: Why does The Bernankster wear gym shorts in the shower? 

A: Because he doesn't like to look down on the unemployed.  

 

SheepDog-One's picture

I wouldnt be surprised to hear Bernank downplay QE today to put a lid on PM's.

Sudden Debt's picture

could very well be.

No QE's anymore in 2011 and poof.

I would like to see that actually :)

but on the otherhand, PM's will go up will go up just because of the debtceiling increase.

 

SheepDog-One's picture

Really in a bind here, they have to do QE and debt ceiling raise, and also cant do it. Sucks to be them I guess.

JohnG's picture

Never feel sorry for the man with the plane.

SheepDog-One's picture

And there it is. Backing off on QE, says it may be there at some point in the future if need be blah blah.

Pretty interesting how their careful BS engineering higher of the house of cards at each level those underneath get rebuilt, and the equities never fall. Just gold, silver, dollars, but never stocks.

I Am The Unknown Comic's picture

Good call SD-1.  I just traded that and have a morningwood boner.  Might just call it a day and kick off early today and see if I can find Obama (and Nicole Simpson's killer) out on the golf course. 

This shit can be fun if I can keep first and foremost in my mind that it is all a big fucking manipulation to encourage volitility so that banksters can make more money churning.  

Fix It Again Timmy's picture

Sometimes it is better to remain a professor and therefore thought to be intelligent rather than entering the real world and removing all doubt about that illusion....

Sudden Debt's picture

So silver at 42$ today whenever he starts to speak...

GIVE THE MAN A MICROPHONE!!!!!!!!

 

sabra1's picture

Bernank: "i meant to say that if you hold gold in the USA it's not real money because it will be confiscated and taxed at 60%. but, if you keep your gold as i do outside the USA, then you keep full value"!

Marco's picture

It will have full value outside of the US, but if they decide they want to tax you when you re-import it or goods bought with it they can still get their 40% ... unless you have enough gold to buy yourself a tax holiday.

ThoughtCriminal's picture

Outsource CONgress, then round up the banksters

snowball777's picture

They're already working for multinational corps.

ThoughtCriminal's picture

Oh, agents of foreign powers?!

Arrest CONgress at once!

Problem Is's picture

Nice dyed rug comb over job, Shelby...

You worthless, bribed, bankster puppet bitch...

The US Senate
No greater collection of senile, worthless, corrupt old white men on planet earth...