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Bernanke Just Admitted He's Lost Control of the Markets

Phoenix Capital Research's picture





 

For weeks
now I’ve been warning that absent the hint of additional liquidity at the June
FOMC meeting, the markets would tank.

 

And tank
they have… almost to the minute that the Fed FOMC ended.

 

 

The number
of problems facing the financial markets today is absolutely enormous. China
has begun an interbank liquidity Crisis. Europe’s banking system continues to
collapse. Heck even Trichet now admits that risk is on “red” for the Eurozone
(remember how everything was “fine” for the last year?).

 

The Middle
East continues to go up in flames… literally. Greece is seeing full-scale riots
(coming to a country near you in the next 12 months). Inflation is erupting in
China. And on and on.

 

And at the
head of all of this, the US Federal Reserve, run by Time’s “Man of the Year”
Ben Bernanke, admitted openly they don’t have a CLUE why the economy is not
picking up.

 

Folks, this
is the same guy who was MONTHS BEHIND on calling the US recession, the
Financial Crisis of 2008, and every other problem facing the US. So if he’s
admitting he doesn’t know what’s going on now… after spending TRILLIONS of
Dollars… then you better BELIEVE things are going to be getting ugly.

 

I’ve long
said that the next Crisis will make 2008 look like a picnic. The reason is
quite simple: the next Crisis will be a Crisis of Faith pertaining to the US
Federal Reserve.

 

For 80+
years, the US financial system has operated under the belief that the Federal
Reserve could handle any problem. This belief was put to the ultimate test in
2008 when the Fed faced off against the biggest Financial Crisis of the last 80
years. And the ONLY thing that kept us from the brink was the belief the Fed
could fix things.

 

It couldn’t.
And we’re all beginning to see that now.

 

So when the
next Crisis hits it will become clear the Fed CANNOT fix these issues (it never
could but most people hoped regardless). And that’s when the real collapse will
begin.

 

It’s coming.
The fact Bernanke has admitted publicly that he’s clueless what’s going on is a
MAJOR step towards the world realizing that he’s lost control.

 

If you’ve
not taken steps to prepare for the coming Crisis, you can download my FREE
report devoted to showing in painstaking detail how to protect yourself and
your portfolio from the coming ROUND TWO of the Financial Crisis (round one
wiped out $11 TRILLION in wealth).

 

I call it The
Financial Crisis “Round Two” Survival Kit
.
And its 17 pages contain a
wealth of information about portfolio protection, which investments to own,
which to avoid, and how to take out Catastrophe Insurance on the stock market
(this “insurance” paid out triple digit gains in the Autumn of 2008).

 

Again, this
is all 100% FREE. To pick up your copy today, go to http://www.gainspainscapital.com
and click on FREE REPORTS.

 

Good
Investing!

 

Graham
Summers

 

PS. We also
offer a FREE Special Report on the inflation situation in the US. This other
FREE Special Report, The Inflationary
Disaster
explains not only why inflation is here now, why the Fed is
powerless to stop it, and three investments that absolutely EXPLODE as a result
of this.

 

All in all
its 14 pages contain a literal treasure trove of information on how to take
steps to prepare AND profit from what’s to come. And it’s all 100% FREE.

 

To pick up
your copy today, go to http://www.gainspainscapital.com
and click on FREE REPORTS.

 

 

 

 

 

 


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Thu, 06/23/2011 - 17:30 | Link to Comment pitz
pitz's picture

SUKI (tm) is a motherfucking RELIGION.

Thu, 06/23/2011 - 16:00 | Link to Comment Herbert_guthrie
Herbert_guthrie's picture

Lost control?

The noose of control has been getting tighter with every QE dollar stolen, and stealing will continue until the vault is empty and our nation bankrupt.

Thu, 06/23/2011 - 15:57 | Link to Comment TX-Mike
TX-Mike's picture

BITCOINS?  A you efffing kidding me?!

Anyone pimping VIRTUAL money should be taken out back and beaten for being that stupid...

If SH$T really does hit the fan in a big way, what is your little "wallet" on your PC going to do for you?  Can you feed your family with it?!  WTF?!

It's real simple..  pick your favorite PHYSICAL commodity, I like Silver..  buy as much as you can afford, then over spend on some LEAD to go along with it..  All the food and silver in the world won't do well when someone bigger, meaner, and better armed shows up to relieve you of it...

Bitcoins..  give me a break....

Thu, 06/23/2011 - 15:59 | Link to Comment Slap That Taco
Slap That Taco's picture

Help-where can I load up on these Bitcoins!!??

Thu, 06/23/2011 - 15:51 | Link to Comment NotApplicable
NotApplicable's picture

Umm... Hello? The Bernank admitted to no such thing.

OJ will confess to killing Nicole first.

Thu, 06/23/2011 - 15:39 | Link to Comment MrBinkeyWhat
MrBinkeyWhat's picture

Don't worry...be happy.

More soma please...

Thu, 06/23/2011 - 15:32 | Link to Comment Slap That Taco
Slap That Taco's picture

This guy again?  

 

Thu, 06/23/2011 - 15:18 | Link to Comment DavidDavid
DavidDavid's picture

The Dow is down a whopping 60 points.  Wow!  The world is ending!

Thu, 06/23/2011 - 14:51 | Link to Comment MobBarley
MobBarley's picture

I'm sensing a lot of ungodless secularized radio frequency negativity around here lately

and I blame all the drugs you've been taking.

 

Thu, 06/23/2011 - 14:34 | Link to Comment jsavage
jsavage's picture

wolf, wolf, wolf, buy my book

Thu, 06/23/2011 - 14:24 | Link to Comment Djirk
Djirk's picture

this post makes me feel strangely bullish

Thu, 06/23/2011 - 14:13 | Link to Comment SuperRay
SuperRay's picture

wow, Dave, i can't believe you are such a moron.  You think this corrupt, rigid system is great.  I hope you're all in on equities.  I'm long SDS... let's see what happens

Thu, 06/23/2011 - 13:59 | Link to Comment DavidDavid
DavidDavid's picture

Blah, Blah, Blah.  This Phoenix Capital guy is constantly preaching "doom & gloom."  If things are so horrible, why isn't the Dow at 3,000?  Why isn't gold at $10,000?  These guys love to preach "doom & gloom" because it sells newsletter subscriptions.  The Dow is down 100 points today.  BIG DEAL.  Where's all the "doom & gloom?"  Guess what?  It doesn't exist.  It never pays to bet against the USA.  Never.

Thu, 06/23/2011 - 16:03 | Link to Comment Helmholtz Watson
Helmholtz Watson's picture

It never pays to bet against the USA.  Never.

Unless you took North Vietnam and the points.

Thu, 06/23/2011 - 20:52 | Link to Comment Zero Govt
Zero Govt's picture

David,

We haven't seen our regular starry-eyed rabbit optimist with the Stars & Stripes stuck out of his arse, the quite brilliant Hamy Wanger, but you'll do

Have you seen the Foodstamps programme recently, take a look at the chart sometime. Or maybe the continuing meltdown in US property. Maybe the fact the US Govt is now robbing its pension funds to get by 1 more month of its simply massive debt load will awaken you. Or the fact all the big US banks are using dishonest accountants to hide their bankrupt asset bases. And do take a look at unemployment with the job creation figures being pumped by counting part-time work same as full-time

The economies of Europe and US are stagnant at very best bordering on meltdown... maybe too much viewing CNBC 'happy data' for you

Fri, 06/24/2011 - 05:53 | Link to Comment DavidDavid
DavidDavid's picture

Once again, you failed to answer my question.  If it's so horrible, why isn't the Dow at 3,000?  Why aren't govt bond prices imploding to the downside.  Why isn't the Dollar Index in the 60s?  Why isn't gold at $10,000?  You can't answer my question because the US economy is not nearly as bad as the "doom & gloom" crowd says it is.  91% of Americans have a job.  Gee, that's gloomy.

Thu, 06/23/2011 - 15:35 | Link to Comment css1971
css1971's picture

If things are so horrible, why isn't the Dow at 3,000?

Faith. Belief. Credulity. People like you, basically.

It's a beautiful thing. Brings out the shark in me.

 

Thu, 06/23/2011 - 14:33 | Link to Comment JohnG
JohnG's picture

The sad part of that little rant is that you actually seem to believe what you are writing.

Either this is an (poor) attempt at sarcasm, or you just climbed out from under a rock.

Thu, 06/23/2011 - 15:13 | Link to Comment DavidDavid
DavidDavid's picture

You didn't answer my question.  If things are so horrible, why isn't the Dow at 3,000?  Why isn't gold at $10,000?  Gold has gone up $700 in the last 30 years.  What a joke!  The Dow has gained almost 6,000 points in 2 1/2 years.  Gee, that's really gloomy.

Thu, 06/23/2011 - 15:48 | Link to Comment RockyRacoon
RockyRacoon's picture

Your beloved DOW has gained zero in the last 10 years when you adjust it for inflation.  And that is using the bogus numbers we are given!  Nominal dollars don't mean diddly.   Without the free money from the Fed the "markets" would be dead meat.

http://www.dogsofthedow.com/dow-1925cpi-log.gif

http://home.earthlink.net/~intelligentbear/dj-lt-infl.gif

http://www.tradersnarrative.com/wp-content/uploads/2010/02/Dow%20Jones%2...

http://homepage.mac.com/ttsmyf/RealDow.gif

http://www.ritholtz.com/blog/wp-content/uploads/2009/03/cpi-dow.png

Thu, 06/23/2011 - 13:58 | Link to Comment powersjq
powersjq's picture

For 80+ years, the US financial system has operated under the belief that the Federal Reserve could handle any problem.

Is this historically true? I can see that since Greenspan's tenure there seems to have been widespread confidence in the Fed's ability to keep the US's economy on the tracks, but blind faith? Is this us projecting our fears backwards? Any financial historians out there?

Thu, 06/23/2011 - 15:35 | Link to Comment RockyRacoon
RockyRacoon's picture

The Fed is competent when times are good, incompetent when times are bad.  How hard is that?   Sometimes I'm a genius, sometimes I'm not.   Same thing on a grander scale.

Thu, 06/23/2011 - 13:47 | Link to Comment Bastiat
Bastiat's picture

Maybe Ben should consider this solution:

HARRISBURG — To help Harrisburg out of its financial crisis, area Christian, Jewish and Muslim leaders have called for three days of fasting and praying for a more cooperative spirit among Harrisburg government leaders, the business community and residents.

http://www.pennlive.com/midstate/index.ssf/2011/06/harrisburg_mayor_linda_thompso_36.html

 

Thu, 06/23/2011 - 13:56 | Link to Comment JW n FL
JW n FL's picture

Maybe we should have a death cage match between the Muslims and Jews and then deport the winner?

 

How about we America concentrate on being America instead of concentrating on being a service economy for the Top 1% of our Rulers!

 

How about the Lobby Whores that have sold our National Identity to the Jewish Lobby?

How about the Top 1% who own 39% pay more than 4% in Taxes?

 

I am not a racist.. I deal in facts.. and all of the above can be sourced and sited for anyone who would like to discuss the Facts as Presented.

Thu, 06/23/2011 - 16:09 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I like your death cage match.  Losers die.  Winners deported!  What's not to like?

Thu, 06/23/2011 - 13:52 | Link to Comment JW n FL
JW n FL's picture

But. But.. But... Ben-O-Cide and Infini-Timmy Really are doing God's Work!? How can you say Bad things.. all the unforeseen problems are "Transitory"! Inflation! is "Transitory" (did anyone notice he did Not! use the word 'Transitory' once yesterday??? now temporary is his key word.. dumbing it down or making himself seem more accessible for the Sheepeople! See his handlers care how he is received by "We the Sheepeople"! LULZ!!)

Thu, 06/23/2011 - 13:14 | Link to Comment Jack Sheet
Jack Sheet's picture

A drop of 2.5% from 1297 to 1265 could hardly be termed a "tank". As of now it is 1273 which is the level of a week ago

Thu, 06/23/2011 - 13:08 | Link to Comment DollarDive
DollarDive's picture

Ode to Ben Bernanke  

(commit this poem to memory and then repeat it without reading)

--------------

One smart fella - He felt smart

Two smart fellas - They felt smart

Three smart fellas - They all felt smart

Thu, 06/23/2011 - 13:05 | Link to Comment Hedgetard55
Hedgetard55's picture

but, but, but... Bubbles Ben got a 1600 on his SATs!

Thu, 06/23/2011 - 12:51 | Link to Comment Spastica Rex
Spastica Rex's picture

Hopelessness and Stasis.

Thu, 06/23/2011 - 12:53 | Link to Comment PulauHantu29
PulauHantu29's picture

And at the head of all of this, the US Federal Reserve, run by Time’s “Man of the Year” Ben Bernanke, admitted openly they don’t have a CLUE why the economy is not picking up.

 

Maybe if they increased the rocord high mega bank bonuses Wall Street and RE would recover...was that their thinking? ...cause that's what they did while smashing savers and hard working Frugalites.

Thu, 06/23/2011 - 13:14 | Link to Comment 11b40
11b40's picture

It's just a continuation of trickle-down & supply-side economics.  Be patient.  Everything is going to work out fine....just as soon as they figure out how to build a house from the roof down instead of the ground up. 

Shouldn't much longer now.  Ben is about to kick the props out from under the roof, so they must have finally come up with the required physics. 

Masters of the Universe!  What a great feeling it must be to have such incredible power.

Thu, 06/23/2011 - 15:33 | Link to Comment Zero Govt
Zero Govt's picture

trickle-down is actually precisely how society enriches itself when it's real productive wealth being created, but this is no such thing. Since the early 80's (Regan/Thatcher era) what's trickling down is bankster credit, when these politicos ceeded money creation to the banksters, which is effectively worthless paper 

America and Europe has been gorging itself not on wealth, but on debt ...the difference is between a faked economy made of a house of bankster credit cards and a real productive economy

Reality is arriving like a steam train and the collapse will make not 2008 look like a warm-up act, but the 1929 Great Depression.

The Parasite Club (banksters, sock puppet politicians, monopolist corporations and elite families) have reached their assured end-game, the destruction of society through pure greed, laziness, stupidity and dishonesty instead of ever doing a days honest productive work

Thu, 06/23/2011 - 12:52 | Link to Comment fonestar
fonestar's picture

I just like coming here for self-reinforcing my doom mentality.  But thanks for the offer of the "free report".

Thu, 06/23/2011 - 14:02 | Link to Comment Oboneterm
Oboneterm's picture

click your heels three times and repeat.... it's FREE.......it's FREE...it's F

Thu, 06/23/2011 - 12:50 | Link to Comment PaperBear
PaperBear's picture

The Federal Reserve was created specifically to create these crises.

Thu, 06/23/2011 - 12:50 | Link to Comment red_pill_rash
red_pill_rash's picture

It's a long planned demolision of the dollar, just like....well, you know...

Thu, 06/23/2011 - 13:50 | Link to Comment Hugh G Rection
Hugh G Rection's picture

Not yet.  The Morgue still has a firm grip on the PMs, and the dollar wont explode till the Crimex defaults. tick tock tick tock

Thu, 06/23/2011 - 12:37 | Link to Comment Cammy Le Flage
Cammy Le Flage's picture

Ben Bernanke is Tot Mom.  

Thu, 06/23/2011 - 14:32 | Link to Comment michael.suede
michael.suede's picture

Buy bitcoins before the dollar tanks.  The bond markets are the next bubble to implode.

An article that speaks on Bitcoins in rebuttal to Doug Casey's commentary on them:

http://www.libertariannews.org/2011/06/23/the-economics-of-bitcoin-doug-...

 

Thu, 06/23/2011 - 15:33 | Link to Comment RockyRacoon
RockyRacoon's picture

Been looking at this intently over the last few months. 

My conclusion:  I have PMs for security in rough times.  Rough times means austerity and possible loss of vital utilities.   Vital utilities includes electricity.   Hence, my decision to pass on the BitCoin opportunity.  Otherwise, a great idea.   Perhaps more well suited to the situation we'll face after coming through the coming depression.

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