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BOE's Mervyn King "Surprised Anger Directed At Bankers Is Not Greater"
When a nation's top central banker says that even he is surprised the middle class is not far angrier at the bankers, you know the lithium consumption is surpassing Surgeon General RDA levels. From The Telegraph "In some of his strongest language yet, Mervyn King today claimed the fall in
households' living standards was the fault of the financial services sector
and he expressed sympathy that innocent families paying the price. "The people whose jobs were destroyed were in no way responsible for the
excesses of the financial sector and the crisis that followed," he told
MPs on the Treasury Select Committee. The people who are now suffering "did not get bonuses of the scale people
in the financial sector got". The financial crisis may have occurred
two years ago but, as austerity measures kick in, "the cost is now
being felt", he said.It remains "a big political problem", he added: "I'm surprised the real anger hasn't been greater than it has." What anger? Doesn't Merv realize Joe Peasant simply looks at the closing level on the Russell 2000 and says: "Damn, bitch, I am rich. And the economy is just humming along. It just makes me so happy" More importantly, if he continues with that kind of talk, King would be well advised to not get closer than 500 feet to any book repository.
More:
The Governor also warned that living standards may be permanently lower than where they would have been under the economy's trend growth rate before the crisis. "The evidence of the past is that the impact of a [financial] crisis like that persists for many years," he said.
"You may not get it back for very many years if ever. It's a very real hit on living standards. That's why it is important to take the issue of financial stability very seriously."
Making a personal commitment, he said he hoped to ensure the banks would never again be allowed to cause a recession of the scale just witnessed. "I joined the Bank of England 20 years ago today," he said. "I don't want to leave until we have a framework in place to ensure we don't have to go through this again."
And the full clip confirming that what started with an isolated mutiny within the Fed's presidents with Hoenig, has slowly metastasized into a worldwide revolt against a criminal banker oligarchy.
Sleep soundly Chairsatan.
h/t LDT
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We can fix that.
We most certainly can. The real question is.....will we?
Maybe Jamie is right that we haven't been "fair" with the banksters.
Jamie Dimon is a victim. I read it on the front page of the WSJ. Can you believe there are those who believe he should not sit on the board of his own regulator, the New York Fed?
http://www.newyorkfed.org/aboutthefed/org_nydirectors.html
It's gotta hurt, being so misunderstood. The money has got to be a meager salve for the endless pain.
Thank God he has the Fed--a place to go to escape the hell of his golden cage.
Bob! You're being naughty again.......
Time to default? america has $100 trillion in unfunded liabilities...........
http://nakedempire.wordpress.com/
America makes a lot of money... where does it all go????
http://www.youtube.com/watch?v=QkfMuvVuETQ
Credit to Atomizer for the FANTASTIC Video!!!
Why would the middle classes be more angry at the bankers? I doubt if 5% even remotely understand the ramifications of modern banking and debt-based fiat money... how the central bank aggregates the effects of fractional reserve lending, thereby staving off runs on individual banks in favour of the occasional system-wide crash that threatens to destroy everything.
As Henry Ford said:
It is well enough that people of the nation do not understand our banking and monetary system,
for if they did, I believe there would be a revolution before tomorrow morning.
In fact, I have friends who work as highly paid risk consultants to banks. And even they don't grasp the ramifications of modern banking and debt-based fiat money.
That is because the banks are not ramifying them hard enough. Give them time, their turn will come.
Quoting JW n Fl / GLP ^TrInIty^ >>America makes a lot of money... where does it all go????
You full well know where all America's money goes...On your beloved "guns (ammo) and and butter". The military / industrial complex has swallowed it all! Take a look around over there at Eglin AFB in Shalimar. Get out of the bunker, and take a look around! See how much of your stuff is "Made in China.
Jamie did us a favor by taking over Bear. Where have you been?
[/sarcasm]
As we all have discussed before the vast majority of people seem to believe they: benefit from the Ponzi; or will someday get invited to join the ponzi. With cheap easy credit, SNAP, MIC contracting, etc. etc. many of them are right. They seem to believe the good times can last forever, and can turn a blind eye to the swirling injustices. Discussions of the realities of debt spending, interest-bearing debt money, creeping social restraints are met with blank stares or a "don't be so gloomy". On some level I think most people actually do get it. But they cling to their convenieces and their distractions. Real money and real involvement takes effort and work. We'll get there one way or another. But unfortunately the harsh reality will come to a shock to people. Alternatively, the FEMA camps, NWO currency, etc. will be sold to a war-torn, panicked populance. It'll be an interesting year...
Ah but there is the rub. When the same group that has done this to them offers a way out, don't you think they will take it? Don't you think they will agree to any bargain at the promise of their past lives? Played like a fiddle. Objectively this is really quite amazing, the skill involved in wealth/power centralization and looting, it's remarkable. We may even live to see if they will pull off further amazing acts of pillage before our very eyes. May dislike the looters, but have to respect skill.
In other words, they won't even have to round the herd for the FEMA internment camps, people will willingly flock there for 3 hots and a cot.
That is definitely a possibility. And/or the masses will cry out for a more powerful government that can make things right. Really the uninformed masses might just do anything if it's sold to them properly. Good thing we have a free and independent media to inform us...uh oh....well at least they can't take the net down so we can stay connected...oh dammit! Wonder what the carbon tax will be on building a smoke signal?
Many Iraqi's cried out for a strong dictator to return to Iraq to make decisions, to get things done. They were confused and weighed down by discussion, working together, developing consensus and common ground.
it is a tough choice, an iraqi dictator or our current leaders
This is happening where?
D@mn! Thinkin' shure is hard wurk!
"On some level I think most people actually do get it. But they cling to their convenieces and their distractions. Real money and real involvement takes effort and work."
I think we underestimate the difficulty human beings have in replacing what they thought they always knew with what they can see happening around them. The lengths people will go to avoid that admission that the world around them is fundamentally different than they were led to believe should not be underestimated. Once people hit their breaking point, the results can be unpredictable to say the least.
Whenever people on here muse about the coming hoards of hungry, gun carrying looters, I can't help think that what may prove more terrifying is 25% of the population wondering "what else isn't real?" for the first time in their lives.
"I can't help think that what may prove more terrifying is 25% of the population wondering "what else isn't real?"
Well said Forwhom.
The induced cognitive dissonance is being counted upon by TPB, because a confused herd is far better than a stampeding one. A stampede can destroy mercilessly, a confused herd on the other hand is so easy to corral. usually, it means just get the leader, the sheep will follow.
King's speech is just more of the cog diss induction. Central Banker's calling for their own demise. It's clearly on the cards. As is some chaos and stampeding and herding.
ORI
http://aadivaahan.wordpress.com/2011/03/01/on-outsourcing-and-its-ills/
"When will we call a crime a crime? When will we demand a jail-out, not just more bail-outs. Unless we do, and until we do, the people who created the worst crisis in our time will, in effect, get away with the biggest rip-off in history." -- Danny Schechter, Will Banksters Get Away With It | February 26, 2011 | Al Jazeera
"As we all have discussed before..."
+14.2 trillion
Nice work. I have lost count of the "don't be so gloomy" responses to my rantings. It's not gloomy, it's situational awareness and preparation.
+ another 14.2 trillion.
http://www.youtube.com/watch?v=EkbpmFOuKrc
china sending military transports to lybia.
http://nakedempire.wordpress.com/
bullets flying yet?
mm.. let me know when and where to show up.
House Cleaning to "K" Street Please... http://en.wikipedia.org/wiki/K_Street_(Washington,_D.C.)
Quoting JW n FL / GLP ^Trinity^
>>House Cleaning to "K" Street Please...
Then onto www.godlikeproductions.com please!
@ft 65
Give it a rest, nobody cares.
As for King, he should read the comments section of any newspaper article more often. Or is it only anger if someone finally goes nuts and sets off a bomb somewhere? Is that what they want? I hope not...
Mervyn King surprised fluoride and aspartame have worked so well to keep the masses docile in the face of such obvious financial terrorism and tyranny... me too.
Holy slow motion Batman. Rajat Gupta might finally get to wear orange. Are they doing this a a snailspace just to be funny?
More likely, statute of limitations.
I was thinking about this the other day. I wonder how many of the charges are off the table with the passing of the three year mark...
Once the victim knows or reasonably should know of his injury, he has four years to discover the other elements of his RICO claim and to bring an action in court.
We should be able to find some taxpayer in a few years still completely clueless.
Give me some rusty tools and a locked room with him and other central bankers/banking executives and I'll gladly show him what kind of anger there really is.
locked room? I was thinking line them up in guillotines in Madison Sq. Garden while a pack of horney baboons run a train on their asses. After the apes are fully satisfied the silver blades of the guillotines (sufficiently dull of course) would be dropped in an order determined by text voting from a nationwide television audience.
La Guillotine Shall Claim Her Bloody Prize.
Also. Why only one venue? Figures NYC wants to hog the glory of watching Lloyd staring at his backside.
Haha even better! Or we can do what Method Man once suggested: sew their assholes shut and keep feeding them and feeding them-- maybe make them eat all that debt their trying to enslave us with.
This dude has some balls. Don't worry. GIABO is growing.
Perhaps if he pronounced on Dancing with the Stars, Oprah and 2.5 males that the CBs are continuing to do the bidding of the Almighty somebody else might get a clue.
Then again, probably not. The public education system being what it is and all, despite Wisconsin's best efforts.
I take all the hat pins out of my Ben Bernanke action figure if he would just parrot Mr. Mervyn King. Instead, Mr. Bernanke, on this very day, told the U.S. Congress that he's got inflation under control. Meanwhile, gasoline is $3.50 per gallon.
Great theater. Of course he regrettably didn't poleax the government for its role in the mess. Add this to the audiofile titled " deflection tactics of central bankers".
More like "... preparation tactics of central bankers". His speech here is deviously preparing the ground for the great hoodwink to come.
A fellow ZH reader on my blog recently referenced and linked an Oct 2010 speech by King, where he advocated "more radical" solutions to international banking reform:
TradewithDave is onto it. From King's speech:
The "more radical solution" implied by King would achieve, for practical purposes, exactly what my alternate currency proposal (link below) would also achieve. In a very different way. The crucial difference being, King's "radical" reform means the banksters' retain enhanced control over both of the newly-separated systems (to the raucous applause of the brainwashed and grateful public).
"Every man his own central banker" is the only way to beat TPTB, and beat them permanently. By eliminating all intermediaries from both the currency creation, and the payments transfer processes. Leaving no weak point for the viruses to get back in again, and take over the host.
It's pretty simple stuff, when you consider the basic premise. History demonstrates conclusively that we can never trust kings, politicians, bankers - in fact, any one individual or group - with the grave responsibility of creating and maintaining a stable currency.
So, we all must take up that responsibility.
http://theblissfulignoramus.com/reflections/the-peoples-nwo-every-man-hi...
Paper pelf promotes pilfering. War is possible because of paper money. Try taking the MIC away from TPTB.
Reality check: Wars happened long before paper money too. Paper money is not the enemy. We are. For standing by and first allowing (then, for later generations, accepting) any one individual or group to have exclusive rights to issue our currency.
How do you actually envision taking the MIC away from them?
My proposal means that can happen as they lose the host that feeds them. Because we simply migrate to a wholly new blood supply. One they can't control.
IOUs existed far before paper money. All the problem is there: I owe you, till the day I CAN'T.
Mr. Swerve had better get on those rate hikes soon. OR else!
What in the hell is wrong with Mervyn, doesn't he know the talking point for the banksters is that it is the teachers fault. Quick, someone straighten him out before he screws everything up. >sarcasm off<
Pant Suits Has the State Department Tweeting in Arabic…
Mosque Makeovers With Your Tax Dollars
"The Primary Function of Government is to Pretend to Fail." Ben reminded us that chaos will ensue without a debt ceiling increase. We survived in 1995, why is today different?
Agreed! Shut her down!!
Is there really any defensible point to making the masses suffer a hopeless charade of turning this POS around?
They dumbed down the population when the went to an illegal war against the public's wishes... they damned the people when the went against the fuel protests and ignored them... the people have lost hope...
now they have to starve before they will revolt next time and next time will be very bloody
A lot of care is required when you listen to Mervyn King. A good blog post points out that he also said this when interviewed.
So sometimes Governor King talks as if a fantasy....
Don't wait for the fuckers to jump, throw them out the window.
Make sure its closed before you do...may aswell set the fucker on fire before you do.
http://www.youtube.com/watch?v=jqTRctGZ9KE
Do not think the anger will raise its ugly head until they start to cut Welfare Benefits. Arizona is proposing to cut Medicaid to the poor and other states will not be able to afford this cost in the future.
It is the Welfare people that will take to the streets and riot. The average person tries to make due with what they have or move in with relatives. BUT, try and take benefits away from those who do not and never worked and you have a big problem.
That’s horseshit dude, the people that have spent a life on social life support are wrecks, wasted and useless, they couldn’t organize a piss up in a brewery. Don’t rely on "them" to start your revolution, but lets face it, if they ever do, you will probably cheering them on from behind the seat in your living room.
Yes, you're right. Welfare abuse is an ongoing, intergenerational problem. However, things have changed since the 2008 meltdown, scratch and sniff.
Ordinary folks who have never received welfare assistance are now counting on it in order to survive.
Cut those benefits off from this new class of unemployed and you will most likely see an uprising.
Charlie Bravo
I don't know Scratch, never underestimate the fury of junky in full without his junk.
This is an argument that I have no real stake in, however, I do have a question for you. If this truly is an US vs Them scenario (the people vs TPTB), than why all the hatred towards these "useless" and "wasted" wrecks? Please don't tell me cost/funding. It is beyond that. There are bigger issues in our country. Unless Tarp/QE1/QE2 make you less angry than social benefits recipients.
This line of thinking seems to be a hold over from a system that, presumably, you despise. As others have pointed out- its a tactic used to divide the people. Rest assured these people will be the first in the streets as they have nothing to lose. Based on your contempt for them, I would imagine you DO have something to lose. Which makes me question the chances of you coming out from behind the seat in your living room. I doubt you are all talk, but trying times show the character of a man.
You either stand with everyone who resides at the bottom of the pyramid (that includes you and I) or TPTB have already won.
+1
It's different in the UK 'Confused', people can spend they're whole lives on support, just like the generation before them, and trust me when i say that from a utility point of view, most of them are useless wrecks, terrible though it may seem to classify anyone, that's just a fact. They fall into a trap of dependence on government and before they know it have lost all urge and natural capability to make a live a life for themselves and the people around them. They have "had nothing to lose" for decades, I dont see any reason why they should be bothered now.
"he expressed sympathy that innocent families paying the price. "
It's okay. He's sorry.
aussies your GDP rumor just hit wires 0.3%...weak q/q. expectation of 0.6%
on topic: didn't protesters in the UK try to cut prince charles head off
Indeed, lots of fun down here mate. The banks having even more fun with "technical glitches" yesterday ... free cash from ATM's this time -
http://www.smh.com.au/money/atms-spit-out-dollars-as-customers-rush-for-...
Nice to hear from down under. I read Steve Keen from time to time. You folks are sitting on a nice housing bubble down there apparently. Hopefully we gave you a nice blueprint for playing the downside when she starts rumble.
Believe it or not, Steve's a friend, as it happens.
The Economist just released a good piece on our epic, world-leading (!?!) housing bubble -
http://www.economist.com/blogs/freeexchange/2011/03/australias_house_prices
Merv the Swerve... i wonder what kind of anger he is talking about, because other than people spitting on the bankers in street(which i do), there is not much else to be done when they are being supported by theyre Tory Toff & Scoff rent boys. Project Merlin? Very nice, makes me want to vomit in my wizzards hat and throw it all over the bastards. The pitch forks are comming one way or another, the longer this drags on and the penny finally drops in a few critical situations...fuck man, i dont know, people have went ape shit over a lot less.
For Roger - happy 66 or 67? Any way - hard to find a fav WHO song - I have so many but Pinball wizard ....
http://www.youtube.com/watch?v=-GE8nR-5kL4
Thanks old guys!
Oh lighten up and just buy the fucking dip, you fucking idiots!
(Psssssttt....the "dip" might be E/S 665)
Clever banksters! They've created politicians who pretend to be angry on the people's behalf. And who'll feed at the same trough the others did before them.
Most people I talk to direct blame in another direction and when I tell them the banks a the ruination of this country they just look at me, kinda like the way you are looking at me right now.
I agree. Try explaining the definition of a "US Bank" and you'll be looked at in equal bewilderment.
These are not "banks". They are branches, (employees), of the privately owned federal reserve issuing ciphers, fiat printed instruments backed by interest bearing notes, (timmy bills), and paper that has continued to depreciate in value the last 46+ years spewing bogus "intrinsically valuable" coinage associated with it.
As the "son of man" said previously, (more or less), tear this structure down and in 3 days it will rise again.
As Ripley used to say, "Beleive It or Not".
For me, let's see, what do we have to lose?
i love it when u dip....
The reason why the sheep haven't taken to the streets yet, is that, most people in this country have no idea what's going on. Next, they think things will work out, because America is the greatest country, and things will be fine once again, in a few years.
Denial is not bliss! The world is finite, and American's have NO clue.
Why we're fucked (just as one example): http://www.youtube.com/watch?v=7KPEJNGAlqw
a comma or two too many, but I think you're on to something there. so far, no-one has come along and wrapped up the story of how middle-America has been utterly destroyed in a nice, easy to glean PP presentation with a pretty silver bow on top. once someone finally does that, I think you'll see the first of many a Day of Rage right here on Main St.
if this was a "contract killing" so to speak don't look pretty from where i sit. looks REAL messy. "Unprofessional" i think is the operative term. And i agree "in America the difference between a riot and rally" is only a matter of degrees.
A Riot would be a Rally for the People of America!
Quoting JW n FL / GLP ^TrInIty^
>> Riot would be a Rally for the People of America!
The good hard working people of America have not awoken.
Our time-zone offset is a pain. I would so love a discource with you. Does your HBGary software not see my posts, I'm hoping other do!
FU King. You first rob us of our money and then regretfully think to yourself "Perhaps I should have robbed even more" because we are not angry? In the west unlike in Africa or Asia if you are against the system then you are excluded from the system for the rest of your life. All opportunities will close, there is no freedom. So what should one do? Should I get angry and protest and in the process lose everything including family (a fine example is being made of JulianA for daring to expose the corruption in the system) or lose it little by little?
FU....I hope the world someday will NOT allow defunct and senile windbags to serve in position of monetary authority.
"Wow. We have robbed their pensions, their savings, taken their homes and jobs, almost no response...well I guess we need to dial it up a notch. Get me a donkey and their daughters! It's time for a donkey show! Maybe that will liven them up"
-Mervyn King
The people are angry. It's a question of how to focus that anger. There's a lot of seething pressure there.
He hasn't been reading articles such as this then:
http://thehardrightedge.com/america-under-attack-by-treasonous-bankers/
Mervyn King is, generally, an austerity supporter, has worked with the coalition and has been criticized for the resulting slower growth. In my view, that bodes well for the UK long-term. His anti-banker comments may stem from his frustration in being unable to impose higher capital requirements on banks. They may also reflect his tactical defense of his left flank. Sometimes the socialist viewpoint provides some insight into their mentality, so here is a piece from the Independent on King from a couple of weeks ago: http://www.independent.co.uk/news/business/news/who-is-trying-to-sabotage-mervyn-king-2213068.html
He really isn't as bad as some of the central bankers I could mention. I told you we are lucky to have Mervyn. The man is obviously struggling, by jingo he speaks his mind and he has his heart in the right place. Not that those qualities are actually going to help, but he's not a complete bastard.
http://www.zerohedge.com/article/head-bank-england-said-march-2008-we-have-solvency-not-liquidity-crisis
http://www.zerohedge.com/article/bank-england-head-mervyn-king-proposes-eliminating-fractional-reserve-banking
Book repository? They did away with those after the pensioners burned all the books in England for warmth.
"Mervyn King today claimed the fall in households' living standards was the fault of the financial services sector and he expressed sympathy that innocent families paying the price. "The people whose jobs were destroyed were in no way responsible for the excesses of the financial sector and the crisis that followed,"
i am not sure why he uttered these words but they are truth indeed.....now if god would only send a plague against banksters as he did with the egyptians we could be free at last....
Being a citizen of the US, I believe you may be of kindred heart.
I apologize that at the time of our declaration of independence from your sovereign control, we felt your then encumbrance on our freedom inappropriate and ill conceived for our purposes of self governance, your common force of ill will towards foreign enslaving powers of bogus indebtedness is accepted.
May we all, (Abrahamic/Ishmaelic, Mosaic and Christian) embrace the reality of freedom as only our Creator can bestow.
imho.
I don't think these bankers have even the smallest believe there maybe a God. For they would never do so much harm to Gods children in their personal greed.
No, actually some think they are god. Didn't Lloyd Blankfein say he was doing 'god's work".
Oh believe me; this 30+ year formerly "polite" citizen and taxpayer is plenty mad, hanging mad.
The wankers on wall street really do not want to see it because if only 20 million more like me take to the streets it will be their doom.
......"metastasized into a worldwide revolt against a criminal banker oligarchy".
Where is the revolt?.... OH, here it is! http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14725&langId=-1&parent_category_rn=10200
Perhaps we can start a petition to have him added to Mt. Rushmore. We need some new blood up there, representative of our new and improved class of leaders.
ugh
That coin is like a slap in the face.
Good thing he looks like a starving troll on it.
+20 million formerly polite citizens.
Damn, this is like the third truthful speech from ole Merv. They need to replace him with a lying ass joo asap.
he's just breakin our balls buzzy. he knows Americans all too well. "stir the American pot" and PRESTO--a catastrophe only an Englishman could love.
true dat. the worst part is i don't even have the heart to razz the limeys back. it is really miserable over there.
i'd like to believe you, i really would. "those be English banks in New York now." Extraordinary. God help us if our government is next--believe when i tell ya'--you'd only get "been there done that" outta dem. sometimes i feel like "i really am English" even though i'm so obviously not. having said it "it didn't take the 'lightweight' long to recognize the Egyptian Committee." Happy oil trading!
"Seriously. I wouldn't have given them 'bags of money' TM, if I thought you wouldn't light some of them on fire. What does a central banker need to do to incite a riot? Oh, thank you, Ben...I see now."
surely one of the best comment threads I have read on ZH.
Tell Merv to be patient. When things get really tough then you'll see bankers and politicians strung up by their short hairs
Vlad the Impaler had a better solution...
Merv, you're killing me. You're surprised the anger at bankers is not greater?!?! What more do you expect me to do? I have spent the last 3 years screaming, joining a chorus of people calling for bankers to be thrown en masse into high security state prison for the rest of their lives, put into cells with whatever serial killers the guards wanted to pacify. I have reamed new orifi for every single punk politician and business media yahoo who revealed either their capture or their retardation. I have vowed on the grave of my grandfather to continue to remember the truth and to shame the devil whenever it rears its smiling, bloodthirsty and conniving head to tell us that all this was done to protect us, that things would have been worse if I, and my 89 year-old mother had not been forced to pay the gambling debts of pigs!My last two girlfriends left me because they said my anger was destroying their lives.
ARE YOU TRYING TO INCITE ME TO TAKE UP ARMS, SO THAT I MIGHT BE HUNTED DOWN BY THE FBI? It's not going to happen, Merv. I'm not that stupid. We will defeat you by other means. We will start with JP Morgan, just for fun. We will move on to a constitutional amendment to reverse the Citizen's United ruling. We will take away your power. Hoard your gold, my friend. You're going to need it.
London Banker commentary on Mervyn King speech:
http://londonbanker.blogspot.com/2011/02/mervyn-king-from-bagehot-to-bas...
London Banker (he's the greatest) wrote on February 11…
“An American friend sent along the New York Times hatchet job on Mervyn King. It is a classic of its genre. The first four sentences include the prejudicial phrases ‘should command respect’, ‘has been accused’, ‘has been condemned’, and ‘has so far been ignored’. Since little appears in the American Pravda by chance, one wonders what and whose agenda is served by such a one-sided and un-journalistic attack on a Governor who has done pretty well in preserving Britain's financial sector, economy and currency when basket cases surround Britain on all sides (westwards not excepted). No one quoted as critical of Mr King in the hatchet piece is a working banker, I note.”
LB makes a good point.
Everybody can be forgiven; IMO, now is time for Mervyn King to denounce central banking, and go and sin no more.
Thanks for the LB site, SO. LB's insight is some of the most original and on target in the business; I love the guy; I didn’t know he was back from his mission, on the web again. Good news for all.
Fucking Keynsians - bringing illusionary wealth to the masses since 1913.
The vast majority of the sheep won't wake up till their EBT cards stop working. Once they do, it'll be ugly and if the banksters jump on their yachts and sail away, they may find a different kind of pirate chasing them......arrrghhhhh. Surrender the booty indeed.
Shake, shake, shake your booty ... imagine if we had a central bank chairman saying such things in public, right in the halls of Congress.
Man thank you thank you thank you for finally speaking the TRUTH!!!
NEW YORK – Nearly everything is going according to the plan Federal Reserve Chairman Ben Bernanke hatched six months ago.
During a speech in Jackson Hole, Wyo., on Aug. 27, Bernanke outlined an effort to spur economic growth, prevent prices from falling and push markets higher through the purchase of government bonds. Since then stocks have soared, the unemployment rate has dropped and Americans have started to spend more.
"It's been a success," says Bill Gross, who manages the world's largest mutual fund at Pimco. Gross had skewered Bernanke's attempt to boost the economy, comparing it to a Ponzi scheme. "It's hard to dispute that since Jackson Hole the market is up around 25 percent."
Bern is so on it. everything is back on track. Why worry?
Boy,the Rats sure are jumping ship.
Must be hoping no starving peasants eat him when the SHTF,after all those caring words and all.
..."I got Banksters-in-my feces"...!!!
What he was saying is that I truly feel sorry for those that have been suffering. But, it was not my fault and please don't put me to one of guillotines if sh&t shits the fan.
I too am suprised there is not more hate against the corporate class, bank and other multi-nationals. But since Clinton sold the Dems on NAFTA and more 'free' trade I guess they are on board.
It will happen, just depends on how bad it has to get before the masses wake up and turn off idol.
BTW, first post, glad to be here
Ah hell....anybody and everybody who makes money off of money should be strung-up.
"[W]hat started with an isolated mutiny within the Fed's presidents with Hoenig, has slowly metastasized into a worldwide revolt against a criminal banker oligarchy." – Tyler
Yes. But mutiny? I don’t think so.
There’s small choice in rotten apples. – William Shakespeare, The Taming of the Shrew
The world is in financial crisis because a small group of bankers was allowed centralized control of economic decisions that affect every single person on earth. And now the victims think a change in economic gurus will suffice? America’s Founders didn’t see it that way.
It’s time for Mervyn King, et al., to step down. King’s had his 20 years of awesome power; God help us if he gets another. Has the world not yet had enough of central banks?
Central bank inflation fosters vice, not virtue. It is an invitation to tyranny.
According to G. Edward Griffin February 17: “Today, corporate monopolies and cartels own all of the major markets, including the American money supply controlled by the Federal Reserve”
If this worldwide market tyranny is not removed, good luck on breaking into their controlled system.
i miss my little banksta bitch. where the fuck is Blythe? i need a dip to buy; otherwise, i feel like a stupid fucking bitch for missing the last fucking dip.
sweetie (i.e. festering cunt)?
Blythe?
When do the Marines occupy Wall Street or 85 Broad Street and start some ass kicking?
I mean if the Marines really are tough, when do they stand up for the People?
http://www.youtube.com/watch?v=C51x3ixdr7I&feature=player_embedded
Fun!
British people still have the X-Factor and their soaps,most have or are in the process of acquiring the latest mobile phone,the chavs and the economic migrants get their dole cheques every Thursday and those in work still think they are rich because their house is worth more than they paid for it.
As far as tptb are concerned the people are happy and under control.I gave up long ago trying to explain why perpetually rising house prices were a bad thing,but generations of people in the UK now are so brainwashed that they think property is the best investment,it can never go down in price and when it goes up in price it proves to them that they were shrewd and clever to have made the "investment".
King is simply a liar,when the crisis started unfolding in 2008 he said the BofE woud not bail out the banks because of the moral hazard it would create,he then bailed out the banks,he then lies every time he writes another letter to the chancellor explaining why for the 456th time he has failed to control inflation to the banks 2% target and that the price increases are either temporary or are due to the increased cost of imports which are out of his control and would not be affected by raising rates.Well if King hadn't engineered a 30% drop in sterling those imports wouldn't cost 30% more would they?So saying these rises in imports-particularly food -are out of his control is misleading and untruthful,but hey what do the people know or care?they are being told on the news and in the papers that it is down to demand for commodities from China or poor crop yields/bad weather,the Bernank and the dollar aren't even mentioned
If govts seriously want to reform the banking system - its quite simple:
1. Charter "Narrow Banks" in each state. These banks, by law , would only be allowed to own very short term sovereign paper on the asset side. They will provide checking accounts, debit cards and efficient procesing of Electronic funds transfers. There will be no need for any FDIC type guarantees for these banks.
2. Drop FDIC guarantees on the rest of the banks. Expose them to market forces. This will force them to shape up faster than any series of convoluted "reforms" .
Folks will have a safe place to do their transaction banking - with the "Narrow banks". If they want to make risky investments - they can do so through other means.
End this corrup, free subsidy for the large banks .
Absolutely. +++ But don't tell Congress; it might prick their consciences if they understood what you are saying and why you are saying it.
King talks as if the BOE, the Financial Services Authority & the political class were in a state of blameless innocence while this terrible and completely avoidable catastrophe gobbled up the citizens of his own country.
It seems he was explaining himself before MPs in Parliament-an institution that has established an unbeatable record in the matter of embezelling public funds. What hope for the truth there?
Perhaps this righteous speech is meant to divert attention from the main issue: there is a system of government in place (which includes the BOE) which will continue to create misery and poverty for the majority of citizens.
The middle class no longer exist they have been eviscerated to a global working class accepting handouts from the elite who have recieved the funds. The welfare class rules the day and why would anyone complain when ones entire life is held in the hands of despots. The Tea Party showed one thing that no matter how much protest is presented Obama is not Mubarak at least he had the good will to step down. We are witness to the consolidation of the left and asked to pay attention to the Middle East while Nicaragua's Ortega invades Costa Rica, kills former Contras, and the US assist in prosecuting Luis Posada Carriles. Our own hemisphere is in trouble. Surprise at the lack of anger by the Middle Class when they no longer exist.
Clearly this fucking guy does not read ZH or my blog.
Adair Turner, chairman of the UK's Financial Services Authority, said largely the same things back in May 2010.
Is he allowed to say this in public?
Has he not got the script approved from his masters, the BIG BANKSTERS????
http://www.marketoracle.co.uk/Article24581.html
One thing that ZH has brought together far right (me) and far left (snowball) in wanting the banksters pulled down and sent to prison..
the middle right and left still want status quo.
The fact not one gov or bankster has even been charged for 2008 tells us the power elite know if one major actor gets jail..they all will be exposed.
no justice no peace!!
Just trying to placate the masses in case they hang him in the future
though the USA readers here are most likely not aware, citizens in the UK are demonstarting in the UK banks.on regualr basis ! edit : regular people, from all walks of life.
http://www.ukuncut.org.uk/
Aye. Mr. King is simply covering for Mr. Bean… et al.
Anger is not greater? Says who? Maybe people are waiting to the right moment to act?
At http://WallStreetClassAction.com we organize a class action against the banks, the ratings agencies and other financial institutions involved in staging the colossal securitization fraud and subsequently crashing the economy and resulting in over $5 Trillion in asset losses in the US alone.Wall Street monopolistic, essentially rogue financial entities have destroyed the fabric of our society and broke our laws, making a mockery of fiscal prudence, ethics and justice. Even our very government is controlled and manipulated (by being an interdependent collosal trap) by this highly illegal banctel, where bank executive officers "retire" or transition into various government regulatory and controllership positions, futher aiding and abetting the ongoing fraud. And when the overleverages casino style betting and back-hedging finally tipples over and out of control, the losses are effectively socialized, while the injured parties are thrown out on the street.
By having repealed the essential laws and regulations beforehand banks had stepped up the level of their offense to premeditated obstruction of justice and outright conspiracy to wire fraud. Citibank - Travelers “merger” and “Glass-Steagall shattering” alone had cost us the taxpayers $2-3 Trillions in real asset losses. Hedging, backroom betting, trading fraudulently rated derivatives, all to be eventually back-stopped by the Nation’s books, while remaining off their own is an affront to feducuary trust, a mockery of fiscal prudence and ethics.
WE THE PEOPLE will hold the banksters legally liable.
SIGN UP ON THE SITE http://WallStreetClassAction.com
Your site (and comments) are very encouraging -- signs of the thinning of their story, that they can't make things stick anymore. The financial elites' encourgaging signs -- their BLS reports, their expectations, the predictable Obama upbeat statement after every report -- are laughable.