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More and more "peasants" are waking up to the FRAUD of Keynesianism, fractional reserve banking, and the scam of it all.
Bernucklehead is a pussy. If you're so tough, Benny Boy, why don't you just nuke the dollar today? We all know it's comin. The jig is up. Come on, bernankrupt us already. If you keep extending and pretending, more and more are going to wake up, and call for your head on a stick.
Bernanke IS a pussy! Enough of this death by 1,000 trillion FRN paper cuts...you want to destroy the dollar then destroy it TODAY! Ya big Shalom Ziopuss!!
Gentlemen, please use his full and PROPER name:
Ben Shalom Bukkake
There is nothing Ben can do to save the system other than slow down the rate of collapse. Blaming Ben for your and your parents and their parent's failure to understand what they have created seems like a waste of time.
Mako, have you ever read/studied about competition in the wild? Like how lions steal kills from hyenas, or chimps utilize group dynamics in order to acquire power? Human or beast, we are all programmed to optimize the gain of key resources for the least effort (cost/benefit ratio).
We are all descendants of those who maximized this survival strategy, and as such have no defense mechanism against the lure of 'something for nothing'. It was simply bred out of us. Money lenders understand this - in fact, our addiction to the illusion of a 'free ride' is the greatest secret known to mankind.
When you speak of 'lemmings', or that we inherited our system, as have countless generations before us throughout history dating back 1,000s of years, you are speaking of victims who have suffered from repeated crimes against humanity.
Think about it this way: an average group IQ of 100 is derived with the inclusion of those above 100 (duh). Now, take those with say 110+ away, and perhaps the avg drops to 95-97. What chance do these people have against those armed with IQs above 125 who learn the rudimentary basics of human vice (lust, greed, sloth, etc), exponential math, the fiction of creating 'credit money', and the power of legal recourse via security (land, etc)?
None. Whatsoever. Zero. Nada. Zilch. And so they laugh amongst themselves, with utter contempt for the beasts they have enslaved. Their only possible downside is not that the system collapses - for, any student of this process is well coached that this occurs on a regular basis after the end of every inflationary cycle, but that they don't have a secure exit.
So the power-elite's true danger isn't collapse, but expulsion without capital resources in which to restart their dirty business somewhere else.
That was awesome
"What chance do these people have against those armed with IQs above 125 who learn the rudimentary basics of human vice (lust, greed, sloth, etc), exponential math, the fiction of creating 'credit money', and the power of legal recourse via security (land, etc)?"
Well they have zero chance until they figure out the problem. Heck, the lemmings can be thrown some bankers while they are all going down the black pit, not going to change anything until the Lemmings figure out the root of the problem... to fix the problem once discovered, it will require the Lemmings to make a different choice, of course, everything isn't going to be great... that will produced different problems that the Lemmings will have to deal with or deal without.
Nobody said life is fair.... matter of fact, it can be very very unfair... tough.
The lemmings hold their chains in their own hands, looks like a bunch of people passing the blame to me.... I have to admit it's kind of entertaining but this will go nowhere until the Lemmings figure out the problem, then make the choice.
Even if different choices are made their is no avoiding the collapse and coming liquidation.
"So the power-elite's true danger isn't collapse"
The top are smarter then the typical Lemming out there... the smart ones will try to go into hiberation with their families, wait the decades it will take to clear the system... then wake up and help the Lemmings start the whole process over again. They are just doing what the Lemmings want. None of this functions without the cooperation of the Lemmings, but once it's over... not much the top can do to save it.
As soon as I see someone blame the Fed or Benny, I know right away they are an idiot. These systems have been blowing up before their were words for banks or central banks.
Basically the function of this site appears to be a forum for people to just randomly point fingers... well point away... not really going to change the outcome much.
If you understand the system, then you realize the Lemmings are in fact BANKERS. Where do you think that $52+ trillion in credit came from?
"Haven't you heard, everyone in Shawshank is innocent?" -Red
Billions of guilty people, a few innocent people will go down the drain with them... that's life... complain to God not me.
"I have suggestion, learn to swim"
“By a continuing process of inflation governments can confiscate secretly and unobserved an important part of the wealth of their citizens. There is no subtler no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which not one man in a million is able to diagnose … If however a government refrains from regulations and allows matters to take their course essential commodities soon attain a level of price out of the reach of all but the rich the worthlessness of the money becomes apparent and the fraud upon the public can be concealed no longer.” John Maynard Keynes economist and author of “The Economic Consequences Of The Peace” 1920
"If you understand the system, then you realize the Lemmings are in fact BANKERS. Where do you think that $52+ trillion in credit came from?"
interesting concept...would appreciate if you could elaborate further...for the lemmings.
Bingo! What you've described is the emergent behavior of a complex adaptive system. It is the sum of the actions of a host of individuals, each acting according to some drive that they themselves find perfectly rational, even if the aggregate effect is precisely the opposite of what they seek. There's no need to invoke conspiracy, or even intent -- although some certainly find it in their interest to exploit the system as it stands and as they project its evolution. To wit: goldbugs on this site.
The lemmings -- bankers and homebuyers, employed and jobless -- are the system. To make a stable system that emphasizes a common good requires constant energy input: it's no coincidence that the (Deist, not Christian) Founding Fathers decided that only stakeholders should have a vote. Whether their definition of a stakeholder as a landowning white male was appropriate is irrelevant; the concept has been utterly diluted over time. The energy wasn't there to oppose it, or to create stakeholders out of the newly enfranchised. Today you don't have to understand how your actions, or those of your representatives, echo into the future, so today we have the political system we asked for.
Can the lemmings identify and fix the problem? You can't prove a negative. But the weight of history and biology is against them.
You are clinically correct B9, That is how it works mechanically.
That's also why I say the REAL problem (as you point out) is a spiritual(NOT religious) problem.
Mechanically, (going along with your point) a grownup(ie intellectually superior) would have little problem talking a child(ie intellectually immature) out of a piece of candy by trickery.
It is a spiritual(ie ethic) rule that stops it.
It would not be "Right" for a grownup to do that.
We have a spiritual problem. ie An Ethics problem.
To quote E,O Wilson I believe,
It boils down to "Should we allow a con-artist talk grandma out of her pension money" just because he is using his "Something for nothing" guideing compass WITHOUT any ethics(spiritual) rules of right and wrong?
Technically there is no problem, there is a solution to the equation, everyone loves what happens from the start of using the equation but don't like the end result.
I would say you have a "choice". You might no like your choices but you do have them.
Humans continue to make the same choice, well, then they bitch about the same result, which is in fact getting bigger and bigger as the systems get more efficient.
If you were to classify this as a problem, well that would be filed under LACK OF COMMON SENSE... which virtually 99.99999% of the Lemmings would be filed under.
Mako, Did your reply have anything to do with what I said?
Yes, it goes without saying that we all have "Choices"
We are always free to "Chose" , we are even allowed to "Chose" the Choices, that you so nicely point out, that we don't even know exist.
For the love of money is the root of all evil...who do you suppose Paul was really talking to?
There is a clan out there that loves money so much they name themselves after it
There is and have been many souls who worship money. It is specifically outlined as a sin in Exodus to do so. Since Exodus is sacred text to Jews (not to mention Christians), I highly doubt that this clan, if that is what you are referring to, promotes such behaviour. Every group has its scam artists. I doubt that you will find many of the great Rabbis worshiping Mammon.
Generally I agree with your statement and would point out that the only recorded act of justified anger that turned to violence by Jesus in the New Testament was against the money changers.
Having said that, I believe that there are a lot of gambler (something for nothing) types out there that play the game knowing full well that there is a risk. The housing bubble was a prime example. Prices were going up, free credit (zero down) was offered and some speculators took a calculated risk. The thing that is completely unethical is that the banks knew that the government would carry the risk at the expense of savers and taxpayers. So basically, even if you are responsible and stayed on the sideline, you had no choice but to participate. That is what I am so pissed off about. I'm still trying to get over my resentment by accepting that it as part of living in a very flawed human condition. That does not end my responsibility to understand the injustice and work for change in whatever small way I can. Perhaps spreading my knowledge of the con game to others is a start. But, I can say from experience, it will not make you popular to point it out.
"the only recorded act of justified anger that turned to violence by Jesus in the New Testaments was against the money changers."
that was also the act that some would say got him crucified.
The only downside is Zyklon B
You, sir, are a good example of why our problems are so intractable.
Instead of focusing on the problem, you distract with your anti-semitisim.
No sir, you distract with claims of anti-semitisim. Sheep-dog distracted you with claims of anti-Zionism.
There is a difference, and it would behoove you to understand it.
Definitely we have great need for a change and I'm inpatiently awaiting new wave of Wanderers to help us with new ideas and solutions. I have no doubts that next generations will enjoy periods of prosperity ending in total frustration if history is of any relevance.
That reminds me of Jeff Dunham's Jose Jalapeno, the pepper on a stick. Perhaps Jeff needs to have a Ben Shalom character in his ensemble?
Now on to the Austrian scam
And from there we can finally address this new fangled gravity hoax...
Pardon my adolescent grasp of Austrian principles, but given that "scam" is an active and necessarily human construct, isn't the concept of laissez faire inherently devoid of scam? (Opinions about gravity notwithstanding.)
Additionally ... the only state intervention I would support is to limit the lifetime transfer of wealth from one party to another (no corporate personhood) to a sum not greater than the median income times the median lifespan.
you don't believe in the ability of a person to transfer their wealth to another without it being confiscated??
If some banker type stumbles upon the cure for cancer and becomes a multi-quintillionare, do you think their friends and offspring should control all wealth (i.e. capital, productivity) for the rest of time?
Transfer their wealth to a point that gives the recipient a comfortable care free life, yes. Transfer monopolization of the game to them, no. Thanks to fiat currencies and fractional reserve lending we have individuals amassing fortunes as large as the income of entire states. While their deserving of this is debatable, their children's right to this power, in America, shouldn't be.
(And my original proposal needs further thought else the Bilderbergers all donate the maximum to each offspring.)
I couldn't have put this any better.
Keynesian Bashing, Bashing Actions Not Keynesian
While the sentiment expressed bashing Keynesian Economics (presuming any Economics exists) can be translated back to "the Fed is wrong," "the Fed is destructive," "the Fed is irrelevant so pretending otherwise and allowing their actions is more harmful than no action at all by the Fed." While the sentiment may be correct, bashing a strawman Keneysian Economics illustrates the the shallowness of the discussion...and in fact serves the Fed by distracting from the actual details and depth of Bernanke et al's incompetence or possibly inherent evil and dishonesty.
Nothing the Fed has done to try and control interest rates has been Keynesian in the way its meant in the diatribe between the economic "hawks and doves." Easing to improve the general economy and control unemployment implies that lowering the Fed Funds rate leads banks to increase lending and through the money multiplier phenomena money ultimately arrives in the hands of consumers who then spend it creating manufacturer motivation to produce more and hire.
Nothing of the sort that puts money in the consumers hand has occurred as a consequence of Fed easing under Bernanke. Consequently nothing Keynesian-like has occured which provides the basis for Keynes bashing or criticism of his theories or their efficacy in the real world of a real world economy.
Faux easing has taken the form of banks using excess money to increase their reserves stopping the flow of easing benefits at the banks themselves where it never ends up taking the path through to increased lending-money multiplier-consumer stimulative spending; so we continue in a deflationary spiral.
Deflation can best be understood not in terms of opposition to inflation but rather as what occurs in the economic environment when interest rates have become too artificially low for it to be worth lenders lending with respect to >> lending at a low rate does not compensate for the risk of lending (a higher rate) and where producers contract production, because the money they receive when they sell from production, represents a loss and/or without money multiplying, the consumer cannot spend enough to stimulate an economy because there is too little money chasing too little production as the economy deflates all at a loss. A very vicious circle.
Bashing Keynes is irrelevant and a waste of time despite the positive underlying sentiment of hostility to our destructive and ignorant or evil Federal Reserve System of the banks and our government.
http://www.federalreserve.gov/pubs/feds/2010/201041/201041pap.pdf this article titled
Money, Reserves, and the Transmission of Monetary Policy: Does the Money Multiplier Exist?
pretty much describes why the Fed easing has no impact on lending and so if lending is the base of the money multiplier fix what the Fed has done with rates is completely ineffectual and irrelevant to the economy. In summary, due to globalization and growth in money markets since at least 1995 banks' lending is not impacted at all by the Fed Funds rate because banks fund lending from other sources of money in the diverse multi-alternative global money markets NOT Fed Funds.
The Fed easing has been sterile and impotent with regard to the "real economy." Without the government or less likely the Fed itself putting money in the hands of consumers the economy remains in deflation because no easing, no "Keynesian" action has taken place to stimulate the economy.
1)Does Bernanke (PhD etc) even read the research put out by his own Fed and is he aware the the actions to reduce rates are historically obsolete and irrelevant is the Fed both out of touch with market reality and not in possession of any tool that impacts the economy because what tools they have they cannot implement properly due to their irrelevant economic mindset which is a view of not understanding the reality?
2)Or does Bernanke et al know full well they have only been able to keep the imploding bank lending system on life support and intentionally failed to maintain a reasonable level of employment to serve that end disregarding the law and stated mission of the Fed. They have made the populace pay for the criminal and negligent acts (mostly unpunished) of our bankers bailing out the banks (which bailing fails as these banks will all fail without restructuring or destruction to be replaced since a deflation destroys them too...)
3)Why has/is the administration allowing the Fed to be the sole policy maker when easily as FDR demonstrated the Government not-Fed could take actions that might be more effective such as the correct initial idea of "dropping money from helicopters" to the consumer?
Digging into the latter seems more like a constructive direction for useful dialogue than the ongoing diatribe bashing or supporting Keynesian and other schools of economists who really have demonstrated economics is so not a science. Economics (mostly) is pathetically devoid of any connection to the real economy of people in the world. Present day Economics is irrelevant with regard to effective creation of policy if not destructive. Until economists catch up and learn about the present world's economic infrastructure as it actually works, it appears we are doomed to be led by blind perhaps evil leaders into the black hole implosion of deflation because nothing effective is being done to stop the process being led by the sterile pseudo-science of unempirical statistical Myth-Economics. Ignorant Economics serves no one including the bankers and non-regulatory government of Bush which got us here today watching U.S.A "Rome" burn.
You may very well be right but unless you learn to punctuate your text few people will have the patience to sift through its many clauses and subclauses to parse the gems of wisdom from the dense thicket of words so please insert some commas here and there where appropriate so your readers don't give up for possibly less fertile but decidedly easier to read posts. </no_comma>
Agreed! Marvelous +1 Quattuordecillion
We have potential leadership; we just have to get them into the power positions.
Hmmm looks like the FED has no choice now but to seize all power and destroy the universe FTW!
Seriously though, isnt it funny how all these guys NOW see something wrong with the FED, whens its no longer paying off for THEM? Oh THEN they get all down-homey and pine for the poor ol saver who always played the game right.
I bet these bastards werent complaining when their own bonuses and scalpings were doing well!
Its obvious that we are heading to a repeat of 2008 in the future, only worse. The only difference this time is Ben was asleep during the first meltdown and was not aware of the magnitude of the problems. At least this time around, he has firm grasp on the control wheel of a freight train that doesnt have any brakes. He will inform all his cohorts and wealthy buds when to jump before he drives this insanity train off the cliff and all of us into social degradation.
If he didn't see 2008 coming then he's a moron. I thought he had a *degree* from *Princeton* for goodness sakes! Then again, he admits he "Hasn't a clue" why the price of gold keeps going up.
I want the Universities to fail as well. No more "Edumacated" morons running our lives! They need to go out and get a *real job* instead of being nursed by "government grants" their whole lives.
And while I'm at it, I hope NPR fails too. Why the heck does "the government" need a radio station?! Oh yeah, PROPAGANDA, that's why.
flacon, IMO, you should start looking for your marbles because you have lost them.
Because NPR is in the news and has been a fixture for 4 decades now, I did some checking on funding sources for NPR.
One independant source for information is Wikipeda. THen there is the NPR site with a better breakdown if you feel you could trust that source.
NPR receives no direct government support. They do get money from CPB. I concluded that their funding that somehow started as government sourced is at least 1.5% but less than 10%.
NPR produces their news programs themselves but much of their content, shows like "Car Talk" and "Prairie Home Companion" (for example) originate with the affilliate stations. If you suspect bias You might not want to look at the NPR They get no direct government payments. NPR amount to about 1.8% of their budget. If you count contributions to affiliate stations that are generating the content they "buy", from those stations, the taxpayer source funding is still less than 10%.
may hcome from Corporation for Public Broadcasting they may get as much 10%
Thanks for the research. It's just a really pissy day and I felt like taking it out on NPR ;) - I'm anxious to get to 2:15pm.
the number of your freight train is 777, and the title is "Unstoppable" with good ole Denzil Washington -due out on November 12th. How does the 12th of November sound for you??
This exerpt is ranked up there with Gross' letter to investors calling out the FRAUDAL RESERVE.. opps sorry typo, meant Federal Reserve
In these bureaucratic organizations, the people who want to speak the truth to power MUST wait until the tide is ready to go in the right direction. Right now, the public is in the mood to listen. If they do it too soon, they will simply get removed during a cloud of smoke by the powers that want the legacy view.
How much attention would this paper have gotten a year and a half ago?
Amen is the right word
I like this post. BRING IT ON BEN. guts, it's all about guts to stand up to these people. forget about us oldsters, it's time to do right by the young of this country. the student loan crap, the mortgage shackle; in the 1950's my dad took out a mortgage for 15 years, paid it off in 10 & my parents were just fine to be able to SAVE FOR THEIR RETIREMENT BY PUTTING MONEY IN A BANK & EARNING INTEREST ON IT !!!
SAY IT AGAIN, TYLER !!!!! "BRING IT ON BEN !"
(i'm so mad i could spit about what's been done to the young people / low wages, no wages, predatory lending.)
Couldn't agree more. This has to end. Things aren't looking good for education here in Europe, fees on the increase, loans on the day you reach adulthood to put you in debt to the amount that bought a house 20 years ago, credit cards and overdrafts forced down your throat based only on your borrowed income, want a house when you graduate? Get down and worship at the pus soaked teat and confirm your slavery for life. Walk into your first job with a student loan, a graduate tax, credit card and probably a car loan and then have to take a mortgage?
It's like trying to climb up a slide while TPTB pour oil down from the top. I fear for my childrens future right now, we used to have mothers, now they are forced to work just to keep on the slide, even so we keep going backwards. Society is broken, our children are brought up by 'providers' so we can feed the machine.
I for one have had enough.
I'm certainly young (23), and how about the fact that my income is forcibly taken from me by government and transferred to the older generations to pay their entitlement programs and pay off the debts they ran up? Then what do they leave behind? More debt! Just robbing my generation blind.
Welcome to the long grey line. I kon't know you but you obviously have at least two valuable assets, your youth and your ability to write. You obviously have a computer with internet connection as well.
When I was your age, a dime (Mercury head) had approximately(actually slightly more)buying power than $1.00 does today. I get a ~ $238 pension check awarded by a company selling our project in 1972/3. At the time that was more than half of living expense including condo payments for a month. The sadist lesson was some eldely school teaching couple that were 85 and friends of my parents. Having to pay $5.00 for a ham was a shock for them.
Your only sure source for future income is to make your living by being usefull within the economic system to other people. In the coming era, that means mental skills.
You are still at a teachable age. DO NOT WASTE YOUR TIME ON INTERNET PLAY! Get into the toughest technical training you can get and stay there. The harder you work your mind the stronger it gets.
And, a mercury dime happened to show up in some coins my wife won at a ladies bridge game the other day. Silver value= ~$1.80. Inflation will be a fact of life because there are already 300+ million people in the country and resources are fixed.
CAUTION: We are now entering the land of intended consequences, for which the magnitude of the damage will be "unintended".
At least that's what Uncle Benny will say AFTER the economy collapses. His final defense will be to "play stupid".
I agree. What they're doing to the young is inexcusable. However Im more concerned about what they're doing to the retired/soon to be retired. The young have time to fix things for themselves, and I dont believe anyone is going to be paying off all this debt. Im more concerned for people like my parents, who are living on interest from bond funds. When this all comes crashing down they will most likely be wiped out. Then they will have to rely on their children for support. This is very scary.
> Then they will have to rely on their children for support.
The young have NO JOBS and are relying on their parents for support.
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