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Guest Post: The Bernank, Frankie Pentangeli and a Ponzi Scheme - An Advance Look At Today's Von Bernankestein Grilling

Tyler Durden's picture




 

An advance look at today's 10 am festivities courtesy of Joe Saluzzi at Themis Trading.

At 10am today, Ron Paul will convene a sub-committee hearing with the topic “Can Monetary Policy Really Create Jobs?“.  It really is too bad that Ben Bernanke will not be at this hearing.  But if he was, we have a feeling the hearing would be like a scene right out of “The Godfather II” with Bernanke playing the part of Frankie Pentangeli.  In fact, we just happen to have a transcript of how that hearing would have sounded...

CHAIRMAN:

State your name, please.

BERNANKE:

Ben Bernanke

CHAIRMAN

And where were you born?

BERNANKE:

Augusta, Georgia

CHAIRMAN:

And where do you live now?

BERNANKE:

I live — uh — in Capitol Hill with the Fed guys.

CHAIRMAN:

We have here finally a witness that will further testify to the fact that the Federal Reserve has been manipulating the currency of the United States.  This witness will confirm that the Federal Reserve, for the past two years, has been operating a Ponzi Scheme known as Quantitative Easing or QE.  This QE has effectively stolen billions of dollars from the savers of this country and transferred that money to the big banks. Only the Federal Reserve can inflate the currency, creating new money and credit out of thin air, in secrecy, without oversight or supervision.  Inflation facilitates deficits, needless wars and excessive welfare spending.

CHAIRMAN:

Mr. Bernanke — Mr. Bernanke  Are you the boss of the Board of Governors of the Federal Reserve?

BERNANKE:

Yes

CHAIRMAN:

There is something fishy about the head of the world’s most powerful government bureaucracy, one that is involved in a full-time counterfeiting operation to sustain monopolistic financial cartels, and the world’s most powerful central planner, who sets the price of money worldwide, proclaiming the glories of capitalism.

Has the Fed been actively engaged in so called “quantitative easing”  which essentially means you are just “printing” money?

BERNANKE:

I-I-I never know no money printing.  I’m just an academic, Mr. Chairman.

CHAIRMAN:

Mr. Bernanke you are contradicting a sworn statement that you previously made to “60 Minutes” and signed. I ask you again sir — you are now under oath – are you engaged in money printing?

BERNANKE:

I don’t know nothin’ about that.. Oh — I was a professor at Princeton but that was a long time ago that’s all.

CHAIRMAN:

We have a sworn affidavit — we have it — your sworn affidavit that you printed money because you couldn’t lower interest rates any further.  Do you deny that confession, and do you realize what will happen as a result of your denial?

BERNANKE:

Look the bankers promised me a deal. So I made up a lot of stuff about the money printing ’cause that’s what they wanted — but it was all lies — uh — everything. And I kept saying  the Federal Reserve did this and the Federal Reserve did that — .uh — so I said yea sure, why not.

SENATOR #2:

Mr. Corleone would you kindly identify for the committee the gentleman sitting to your left.

TOM:

I can answer that. His name is Timothy Geithner

SENATOR #2:

Is he related to the witness?

TOM:

I believe he was the President of the NY Federal Reserve when the financial crisis hit in 2008.

SENATOR #2:

Will he come forward and be sworn sir?

TOM:

Senator, this man does not understand economics.  He has been a lifelong bureaucrat. He came here at his own expense to aid his partner in his time of trouble. He’s not under subpoena.  And due to his past tax cheating problems, he is afraid of incriminating himself if he speaks.

SENATOR:

Are you saying that he knows nothing about these matters?

TOM:

To my knowledge, nothing.  This man is clueless on the workings of an economy.  All he knows how to do is to orchestrate large government bailouts for his banker friends. His only strategy now is to just hope things get better.

CHAIRMAN:

I’m gonna find out what the hell happened here! Alright this committee is now adjourned. The witness is now excused.

TOM:

SENATOR! SENATOR! This committee owes an apology, this committee owes an apology — an apology SENATOR!

 

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Wed, 02/09/2011 - 09:34 | 945963 plocequ1
plocequ1's picture

.

Wed, 02/09/2011 - 09:33 | 945965 plocequ1
plocequ1's picture

.

Wed, 02/09/2011 - 09:24 | 945966 TraderMark
TraderMark's picture

Ron Paul on Kudlow last evening saying the next U.S. crisis will bring change equivalent to what happened in breakup of USSR

http://www.fundmymutualfund.com/2011/02/video-ron-paul-next-us-crisis-wi...

Wed, 02/09/2011 - 09:27 | 945973 cosmictrainwreck
cosmictrainwreck's picture

oligarchs, bitchez! oligarchary & mafiyah Yee-haw! Uh...wait one... how's that a"big change" again?

Wed, 02/09/2011 - 09:41 | 946001 gwar5
gwar5's picture

Yep, exactly. Soviet style collapse, only worse. Hope for best, prepare for worst.

Way Bigger: collapse WRC, bigger global economic impact, geopolitical shake out and realignments.

Collapsing now, central planners looting and just trying to mitigate the speed of it.

Wed, 02/09/2011 - 21:28 | 948089 Buck Johnson
Buck Johnson's picture

I totally agree, and it will end just like them where the states will declare themselves their own countries.  You will see blocks of states becoming a country themselves.

 

http://apwhwiki.pbworks.com/w/page/363459/The-breakup-of-the-Soviet-Union

Wed, 02/09/2011 - 09:27 | 945968 AC
AC's picture

In this fable who might play the role of the Rosato Brothers?

Wed, 02/09/2011 - 10:31 | 946102 The Continental
The Continental's picture

The Rosato brothers are small potatoes...small potatoes.

 

Now, if I see a suitcase filled with ink, paper and currency plates, then I'll know that you're in. If I don't, then I'll know that you ain't.

Wed, 02/09/2011 - 09:28 | 945975 virgilcaine
virgilcaine's picture

TD any live feed on this?

Wed, 02/09/2011 - 09:40 | 945998 Tyler Durden
Tyler Durden's picture

Will be posted when the time approaches

Wed, 02/09/2011 - 09:28 | 945976 Boilermaker
Boilermaker's picture

He'll skate away, scot-free.

Guaranteed.  Moreover, he'll jack the market to the moon to distract the sheeple and convince them it's worthy.

Whatever.

Wed, 02/09/2011 - 09:32 | 945979 plocequ1
plocequ1's picture

That Hyman Roth in Miami. Hes backing up those son of a bitches. Him and his messenger boy Johnny Aiola

Wed, 02/09/2011 - 09:33 | 945983 blindman
blindman's picture

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

Michael V. Gazzo as Frank Pentangeli in Godfather II [HD]

Wed, 02/09/2011 - 09:36 | 945988 virgilcaine
virgilcaine's picture

Hyman Roth always makes money for his partners.

Wed, 02/09/2011 - 12:28 | 946552 Fred Hayek
Fred Hayek's picture

Hyman Dimon?

Or do we want to go with "Legs" Dimon to emphasize the gangster rather than jewish element of the banksters?

Wed, 02/09/2011 - 09:38 | 945994 HelluvaEngineer
HelluvaEngineer's picture

What are the odds the fed will trash the market today in a show of M.A.D. saber rattling?

Wed, 02/09/2011 - 09:39 | 945996 Lazane
Lazane's picture

Rosato Brothers would have to be someone who is currently muscling in on the Fed scheme, how about the Fed itself buying up its own debt, if this was not so freaking horrible for my children and grandchildren I would be laughing off the chair.

Wed, 02/09/2011 - 09:58 | 946035 williambanzai7
williambanzai7's picture

Wed, 02/09/2011 - 10:51 | 946178 Implicit simplicit
Implicit simplicit's picture

Nice William. Lets make him "squeal like a piggy"

Wed, 02/09/2011 - 16:20 | 947391 Zero Govt
Zero Govt's picture

+50 Banzai ....i'm in tears :''''))))

Wed, 02/09/2011 - 10:19 | 946075 monopoly
monopoly's picture

GM all. Ya know, I have no idea if Tyler is a company of 1 or 100 but the amount of superior posts is just mind boggling. How can one site ferrert out so much truth in such a short period of time every day.

love to see the "inner sanctum of "The mother lode".

Great stuff boss.

Wed, 02/09/2011 - 10:20 | 946076 Yikes
Yikes's picture

Any word on Meredith Whitney testifing today on the TARP sub committee?  Did she agree or decline the "invitation"?

Wed, 02/09/2011 - 10:21 | 946078 Josh Randall
Josh Randall's picture

The Bernak: "I have business with Hyman Roth and i don't want it disturbed.."

Wed, 02/09/2011 - 10:23 | 946083 Crook County
Crook County's picture

"Buffers - heh heh -yeah, we got a lot of buffers."

Wed, 02/09/2011 - 10:24 | 946087 A_MacLaren
A_MacLaren's picture

Can the People bring RICO charges against the Federal Reserve and the Money Center Banks?

Can we get Judge Judy, or better yet Judge Napolitano, and televise The People's Kangaroo Court?

Wed, 02/09/2011 - 10:27 | 946090 The Continental
The Continental's picture

The Bernank is a pimp. It was Rothschild all along...only I didn't know 'til today.

Wed, 02/09/2011 - 11:01 | 946216 anyways
anyways's picture

Trading Silence ... thanks to The Bernank

http://www.youtube.com/watch?v=0ufxcMqsZpM&feature=player_embedded

Wed, 02/09/2011 - 11:29 | 946328 Josh Randall
Josh Randall's picture

nice - thanks for sharing

Wed, 02/09/2011 - 11:04 | 946223 anyways
anyways's picture

double post

Wed, 02/09/2011 - 11:57 | 946445 haskelslocal
haskelslocal's picture

Too bad he can't be at the hearing? I'm sure Ron Paul planned it as an overlap on purpose. Sorry, grand-standing...

Wed, 02/09/2011 - 12:29 | 946486 TruthInSunshine
TruthInSunshine's picture

Jamie Dimon to Bernank:    "Whatya gonna do? Nice college boy, eh? Don't wanna get mixed up in the family business? Now you know that we need you to keep gunning down savers, seniors and American Youth to subsidize us & The Squid, but you're hesistant because Ron Paul slapped you in the face a little bit, huh? Whataya think this is, the Army, where you shoot 'em a mile away? You gotta get up close like this... badaBING! you blow their brains all over your nice Ivy League suit. C'mere... you're taking this very personal."

Wed, 02/09/2011 - 13:16 | 946759 Fred Hayek
Fred Hayek's picture

Fade to the interior of the boat house of a swanky house in the D.C. suburbs

Krugman(lying lethargically on barcalounger):  I don't have a lot to say, Ben.

Bernanke(standing over Krugman):  We have time.

Krugman:  I was kept pretty much in the dark.  I didn't know all that much.  I work for the Times, for chrissakes.

Bernanke:  What about now?  Is there anything you can help me out with?

Krugman:  I know they got Fisher, that's all I know.

Bernanke walks a few paces away, obviously agitated

Krugman(flustered):  I didn't know it was gonna be such a big hit, Ben.  I swear to you I didn't know!  Demint contacted me at the Times, said he wanted to talk.  He said you and Michael Steele were in on some big deal, and there was a place for me in it if I could help them out.  They said you were being tough on the negotiation, and if they had a little bit of help, they could close it fast and it would be good for you.

Bernanke:  And you believed that story?!

Krugman:  They said there was something good in it for me . . me on my own.

Bernanke:  I've always taken care of you, Paul, gave you all the easing possible.  More, in fact.

Krugman: Taken care of me?  Ben, you're a nothing academic.  Norwegians love me.  And you take care of me?!  Did you ever think of that!  Ever once!  Tell Krugman to write something ridiculous about this.  Tell Krugman to write something crazy about that.  Take care of some little unimportant blog actually telling people the truth.  Pick somebody up at the airport.  Ben, Norwegians love me!  I was stepped over!

Bernanke(softly):  It's the way the banks wanted it.

Krugman:  It wasn't the way I wanted it!  I'm not dumb!  Christ, not like everyone but the norwegians says!  I'm smart; and I want respect.

Bernanke:  There's nothing more you can tell me about these hearings Ron Paul's holding?

Krugman:  The committee lawyer . . he's-he's got this weird honesty thing.  He hates you.

Bernanke:  You're nothing to me now, Paul; not on the pad, not a friend, I don't want to know you, or what happens to you.  Like everyone else, I won't read your column.  I don't want to see you at the banks, or near my home.  When you visit Greenspan, I want to know a day in advance, so I
won't be there.  Do you understand?

Bernanke walks out ignoring the plaintive wails of Krugman.

  

 

Wed, 02/09/2011 - 20:29 | 947995 blindman
blindman's picture

http://www.youtube.com/watch?v=30X2tYUGK_8

Noam Chomsky: The United States - Israel's Godfather

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