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Summarizing Today's Fed Chairman Q&A: Prepare To Vastly Exceed Your Recommended Daily Allowance Of Bernanke's Prevarications
- Barney Frank
- Ben Bernanke
- Brad Sherman
- CDO
- Chris Dodd
- Citigroup
- Collateralized Debt Obligations
- Discount Window
- Federal Reserve
- Goldman Sachs
- goldman sachs
- headlines
- Hyperinflation
- Lehman
- Lehman Brothers
- Mel Watt
- Monetary Policy
- Money Supply
- Primary Dealer Credit Facility
- Prudential
- Risk Based Capital
- Ron Paul
- Sovereign Debt
Going through today's pertinent Q&A with Bernanke, initially we focus on Fed nemesis #1, Ron Paul. First question of relevance: "Do you Mr. Bernanke think that rates were hold too low for too long?" The degree of Fed delusion is easily seen by the response: "the bottom line is nobody really knows for sure, but the evidence is quite mixed." Obviously the bald one has never attempted to sell a home in the Inland Empire. The evidence sure would be a little less mixed in that case. But at least Bubble Ben has given a speech on it (which incidentally caused John Taylor to almost have a conniption against the stupidity of the Fed's chairman). Yet just in case you thought the man may have at least one screw unloose in his voluminous cranial hollow, Bernanke opens his mouth and says "Even if rates were too low for too long, the magnitude of the error was not big enough to account for the huge crisis we had. I think what caused the crisis was a failure in regulation.".....And this is the man who determines monetary policy....Only now do we find out he has never actually ever opened an Econ 101 textbook, instead opting to go straight to writing them. Luckily Ron Paul proceeds to give the Princeton "expert" a much needed lesson in monetarism, and what happens when rates are zero for far too long.
To be expected, Bernanke certainly did not appreciate being schooled in Econ 101. After Paul rips Bernanke's face off with the Chairman's constant excuse that regulation is the answer to everything, arguing instead that artificially low rates merely send constantly flawed price signals, Bernanke retorts "Well you need some system to set the money supply. I guess you are a gold standard supporter." At this point Paul gives the most priceless response ever: "I am for the constitution." (4:50 into the clip)... A flabbergasted Bernanke again proceeds to cast the blame... This time everywhere but the Fed: "Every major country in the world uses a Central bank to make some decision about the money supply." We ask the philosophy experts among our readers to tell us just what type of fallacy this is. Ron Paul once again has a brilliant response: "Then there is no good information for the investor unfortunately." What are you talking about Ron - there is Cramer. At least until such time as his particular regulators wake up... Which they seem to have done so today finally.
Next up, California's Brad Sherman asks the current-former Fed Chief duo the following runner up to the most critical question of the day: "Bureaucracies hate bad headlines, they'll often do desperate things behind the scenes to avoid that big headline from breaking. Prudential regulators are going to get bad headlines if a big institution fails, particularly under some circumstances, and if they can prevent that failure, if they can just put it off for six months, their reputations and careers can be saved. Monetary policy, just cutting the interest rate by quarter point can save a troubled institution. So how can we be sure that monetary policy is not influenced by the natural human desire of bank supervisors, to save one or two institutions, for at least long enough for them to move over to another department. How do we make sure that monetary policy does not meet the career needs of bank supervisors?" And the token bullshit response from the follicularly confused one: "I don't think that's a very realistic scenario." Oh really? We think it is, and in fact we think that the probability of influence on monetary policy arising from this line of thinking is much, much greater than all that other BS we have been hearing about how an audit will make the Fed become an engine of hyperinflation, the argument that Barney Frank, Chris Dodd, Mel Watt and all the other bought and paid for Wall Street cronies are using to prevent Ron Paul's audit the Fed initiative from ever passing. Bernanke elaborates on what one day will be an amusing case study: "I suspect the Central Bank Chairman will be around and concerned about his or her reputation when the economy has excessive inflation or whatever problem might arise from bad interest rate policy. I don't think there is much evidence for that particular issue." How about the issue that every reputation can be bought and paid for by someone with a big suitcase full of brand new $100 trillion bills, with a portrait of Supreme Chancellor Blankfein on the front? This is post the hyperinflation - certainly the Central Bank chairman will not be dumb enough to want to be paid in Pre-Petition money.
Yet of all questioners, Rep. Scott Garrett asks the truly most relevant questions of the day. First among them: "Are the GSE obligations sovereign debt?" Bernanke's response: "We stand behind it, but whether it is legally sovereign debt or not, I am not equipped to tell you." Same thing from Volcker, who adds that it is a "bad arrangement where you have this quasi private organization and the government stands behind it." So not even the wannabe uber regulator knows how to account for an amount equal to half of the total US Federal Debt. Swell.
On Lehman Garrett asks "The Fed was there on scene, your folks were there at Lehman's. Was the Fed aware of the Repo 105 and the accounting irregularities going on?" Bernanke answers "No - they were hidden. We are currently, for example, the principal regulator of Goldman Sachs, and we have about a dozen people on site, and another dozen who are looking at the company. We had in this case two people assigned to Lehman. And their main obligation was to make sure we get paid back our loans.... Our objective on the discount window loan was to make sure it was safe and they were safe."
Now parse the last few sentences carefully. Not only does the Fed admit that it is and was in the Fed's interest to delegate manpower to make sure that Goldman is fine (in an agent ratio of 6-to-1 "scouring" over Goldman's books), but Bernanke blatantly contradicts himself when claiming the reason for the presence of the Fed's entourage. If the Fed was indeed so focused on recouping its discount window borrowings, then how on earth did Geithner green light that Lehman would be allowed to deposit a nearly $3 billion CDO, which contained loans by CFC, which after a cursory look Citigroup determined was "Bottom of the barrel" and "junk"? What is the basis of this dual standard - why does the Fed pretend to be concerned with safeguarding taxpayer money (with which Bernanke justifies its minimalist presence at Lehman) when it comes from the Discount Window yet is happy to collateralize "junk" paper in the Primary Dealer Credit Facility? Is whoever was in charge of the Lehman account at the FRBNY some schizophrenic (and please let it not be discovered that the person in charge was, just like in AIG's case, again Steven Manzari)? And why does the Fed believe it has any credibility as an uber-regulator when it constantly fails a less than uber-one?
In earlier questioning by Spencer Bacchus, Bernanke answered that the only reason why the Fed had a "couple" of people in the company, was to make sure that Lehman "repaid the money lent by the Fed's Primary Dealer Credit Facility." Yet the Fed had lent out money, as noted above, collateralized by, well, excrement. Once again that is a truly "brilliant" overture by a wannabe regulator of all that has a dollar sign in front of it.
Bernanke digs himself even deeper. When explaining why the FRBNY got paid back, BB says "we took collateral and we took extra large haircuts to make sure it was safe." Oh... so now you care about getting paid back. Was it, perhaps, under the guidance of one Goldman Sachs, who may have at this point decided it was time to rid the world of the pesky Lehman Brothers that made you start enforcing legitimate collateral controls?
Then Garrett asks the key question: "In light of these reports is this something that we should be concerned about? Is activity at these other [banks such as Goldman] is that something that (a) we should be concerned about and (b) something the Fed should be concerned about and are you looking into it." Bernanke's retort "[the banks] are now under our consolidated supervision, so we are now paying attention to these issues." That's the non-answer. As to the answer of whether the Fed is looking at whether shady accounting is going on or was going on in the past, Bernanke's version of the Fifth is as follows: "I don't know. This report just came out this week." In other words if Peck had not agreed to declassify Valukas' report, if there was no pressure to put the Examiner's report in the public domain the Fed would never have expressed any interest into just what kind of shady accounting goes on to mask the Tier 1 and Risk Based Capital of the banks under its supervision, and that leverage ratios by most of the banks it supervises are likely complete shams?
A relentless Garrett keep probing: to the NJ representative's question whether the Fed demanded that Lehman's regulator (whoever it may be since it was not the Fed, even though the Fed had implemented three separate liquidity stress tests, of which Lehman failed every single one) require that Lehman raise its liquidity, Bernanke once again gets an acute case of amnesia: "I don't have the exact information that you are asking." So once again the Fed proves that the only thing it can regulate is the bribery sinking fund at Goldman et al with direct recipient Federal Reserve governors. Everything else will just fall into place once yet more of Goldman's competitors are done away with, and Goldman (and JPM, of course, can't forget Fed, Jr), are left standing as the only two financial firms in the known universe. And this is the Fed that lame duck and financially supremely challenged Chris Dodd wants to put in charge of regulating everything in this country? If that really ends up happening, we are so #&$*ed... but not before Goldman funnels all of Americas' money into its Middle-Class Irredeemable Negative Interest Rate All-market Fund SIV.
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Per Bloomberg, Bernanke: “We are quite concerned by proposals to make the Fed a regulator only of the biggest banks,” Bernanke told the House Financial Services Committee today in response to a question. “It makes us essentially the too-big-to-fail regulator. We don’t want that responsibility.” But, the Fed wants to regulate all the banks. “We want to have a connection to Main Street as well as to Wall Street,” Bernanke said. “We need to have insights into what is happening in the entire banking system.” Isn't that an added responsibility to just regulating the TBTFs?
Now, I'll admit I may be missing something, but if it's too much of a responsibility for those bastards to monitor the big banks, we need to allow them to monitor all the banks? WTF?
Pardon me ... I am going to throw myself out a Goddamned window now.
What kind of fucking banana republic are we running here?!?!?
Exactly right. This *right here* is an example of outright governmental deception and regulatory failure. It is sovereign debt, or it is not.
Are we financially on the hook or not? Ben Bernanke's answer is essentially: Who knows if it's actually sovereign debt, ha ha!! It's so tricky I can't tell you now, wink wink!!
This grey area is an obvious admission that the door to the henhouse not only stands ajar, but it is nailed wide open, and no one is supposed to ask any questions. (If you do ask the question, you will of course get the run-around).
If Bernanke is not "equipped" to tell us, who is?
And shouldn't we know the answer to this question two years after the GSE's were bailed out by the tax payer?
[ rant on ]
Let the f*ckers go bankrupt. Bring the fucking system down. It's broken and it's hurting us.
[ rant off ]
Yes, Yes, Yes.
No jobs for bloodsuckers. Get a real job.
And please hurry. I'm getting impatient.
"We stand behind it" is an admission that GSE obligations are sovereign debt.
Yup yup yup. That is how investors will see it, that is how the BK courts will see it, and that is how it will go down.
Should congress start mailing these questions to BB in advance so he doesn't waste our time by constantly pleading ignorant. Of course he knows. He just has to play dumb to keep the charade going a little longer. And Ben, the answer is obviously yes. Otherwise, both entities would see their pathetic stock prices drop to zero instantaneously.
Poor Ben, I know you are not as stupid as you look. Must suck to have to play the fool day in and day out.
Once having watched the clip of Rep. Garret questioning Bernanke, watch it again but pay attention only to Fed General Counsel Scott Alvarez' facial expressions throughout the session.
At 3 minutes into the clip, Bernanke stumbles a bit when answering Garrett's question about how many people they have at Goldman currently. Counsel Alvarez' face "cracks" and a wry smile escapes the moment Bernanke says he was given the number just that morning, in fact!
What the hell is that all about? Are these Q+A sessions scripted ahead of time and Alvarez was the one who clued Ben in on it?? Or is Alvarez just smiling because he's happy to know that..while Ben is a piss poor liar and we all know it, there's not a fucking thing we can do to stop them?
I don't know about that, but I would give a silver eagle or two to know the story behind that little rat bastard's knowing smile.
I'm no philosophy expert but I'm going to say that fallacy is an Appeal to Common Practice.
You are correct. Touche.
Nice!
Many people say something is self evident because everyone thinks it's so. The majority determines facts. This more accurately describes group think, not intelligence or fact.
Complete and utter lawlessness.
Plain and simple.
Well said! +1
Be careful here. They are following laws alright, just not any of the laws on the books, and not any laws you and I must follow. Shadow laws for the shadow system that they are desperately trying to keep alive right now.
They have their own laws, courts, elected representatives, and criminal justice system. You would not recognize any of these things, but the oligarches certainly do. And notice that the Supreme Court recently tacitly recognized this in giving corporations unlimited influence into national politics.
And this shadow system is what very much needs to be dismantled.
Bubble Bens right about the central banks. Last year when asked about $500 billion of our TARP money?
BBB: central banks around the world, that's where.
damning analysis of bernanke's words' cognitive dissonance with his deeds. probably don't need to bring up his baldness though. it's definitely one of his better characteristics (i.e. physical as opposed to moral). if he looked as bad as he acted one would turn to stone watching the video.
He gives receding hairlines (and beards) a bad name. Kinda like what Hitler did to that little moustache.
Q: If you were stranded on a desert island, who would you want with you?
A: Common answer would be someone like Gisele B. or any Victoria's Secret model. I might take a different approach and pick a Bernanke or Geithner. Why? I'd like to make those weak bitches beg for every coconut, every morsel of food and watch them wither and die a slow death. Best payback I could think of for them treating the American people the same way. BTW, still love you Gisele!
SadoMaso! I think that was brilliant. You wou put yourself in pain (denial of desire) so to teach another a lesson. You are the BIG.
Strawman!
Goodbye America, it was nice knowing you, for a while at least
Bernanke just bides his time parrying with mosquitoes such as Paul or Bacchus, while awaiting the lavish and sycophantic praise bestowed upon him by drooling cadavers such as Paul Kanjorski, or bubble-butt adolators like Steve Liesman.
Bernanke, whom I'm guessing sits there and fantasizes about being whipped by a six foot nine inch transvestite in stilettos, never breaks a sweat. He knows where the real power lies, and it is not with the likes of Ron Paul. Q&A's such as this are just dog and pony shows, a bone tossed to the rabid. Bernanke and his ilk do not fear the impotent.
Nothing will change unless the angry and disenfranchised and truly patriotic stand up and change it, by whatever means necessary. The system will not heal itself, nor can the system be healed by working within it. If that is not clear after two years, the masses deserve whatever Bernanke and his cohorts wish to thrust upon them.
+ 6'9"
+1
Substitute every reference to "Bernanke" with "King George" and you will notice that we have definitely been here before.
Of course in 1776 the supposed impotents turned out not so much so. Much jocularity and mirth did not ensue.
March 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke criticized a proposal in the Senate to limit the central bank’s supervision to the largest financial firms, saying it would undercut its ability to spot financial risks
Could he find his ass with two hands?
What he probably meant to say was "would undercut its ability to use public funds to make good on private financial risks"
I am not a big fan of Graysons, but he is usually good at tossing some jabs at Double B. Was he there today?
Ron Paul is the only one I trust in Washington, D.C. I truly believe he was our last chance to save what's left of the Country.
Fucking fuck fuckers! Fuck! That's all I have running through my head right now, reading this worthless shit dribbling out of Bernanke's pus-infested pig jowls. That shit fucker cuntbag.
Whew.
don't hold back, what do you really think?
heh
Thanks, you saved me some typing! +1
I almost laughed when Bernanke quipped: "Central Banking is an Art"
LOL?
This comes from the mouth of a man who by his own repeated statements, had zero knowledge of the housing bubble, and thought the US economy was healthy just months before it went over the cliff.
Yeah. It's an "art". Unfortunately, we need it to be a "science", asshole.
If Central Banking is an art, then Bernanke is the equivalent of someone who paints tigers on black velvet and sells them Saturday mornings in the lobby of the Holiday Inn.
I was thinking more like the paintings of kittens hanging on to a tree limb for dear life, amusingly unaware that an enormous soft pile of FRNs below them would prevent any injury should they lose their grip and fall.
This is what crossed my mind (youtube will take this down shortly due to nudity):
http://www.youtube.com/watch?v=q9y6yiLN72Q
Yeah. It's an "art". Unfortunately, we need it to be a "science", asshole.
Remember, patronage wasn't necessarily bestowed on the best artists, but more likely on those who fawned over their masters and portrayed them in ways that fed their egos. BB is just serving his patrons, albeit primarily in a financial sense.
+10
and it's probably "god's work" too...
Why, truly i am asking WHY are people still even listening, let alone actually believing anything Benjamin Shalom Bernanke says? If he was a trader or fund manager on Wall Street he would have massive losses in his portfolio and virtually no one would be his client.
Ben Bernanke Video
How wrong can one man be?
www.youtube.com/watch?v=HQ79Pt2GNJo
They should've played this in an ad before Bernanke was re-elected.
Does anyone believe that this basking in currency corruption will be tolerated by Bond-holders? -Well, apparently..as PIMCO have some sizeable long positions. The only two sensible responses I have to my ow question is either that I am wrong, or that PIMCO is day-trading... two cents anyone?
First, Pimco is now the biggest fund, so in certain markets and for certain periods of time they are the market. Second, Pimco is just another rent seeker, so they will get a cut no matter where the money is. Lastly, they have been so intertwined in the debt markets for so long that it is almost entirely what they know. They're funds, now ~$220B, are so large that they have to be in the market and take whatever consequences that come with that. They can't daytrade $220B; they will always have market exposure. They can't move all their money out of the banking system and into gold, as ZHers and smaller fish have done. $220B would buy roughly 2/3rds of the U.S. claimed gold reserves at todays price.
In terms of how much bondholders will tolerate, IMO the bondholders who will say "enough" first will be the sovereign wealth funds and foreign governments. The action will be a political policy response on the part of governments, and the U.S. will do its best to mask what is happening for as long as possible. I doubt Pimco will be a first responder. Those are some of my haypennies for you ponder.
Behind the scenes the Fed must be getting very nervous and annoyed. Remember that it's easier to get information from the CIA than it is the Fed.
But to Ben's point about every country in the world uses a central bank to make a decision about money supply: this is the United States' THIRD attempt at central banking. And there seems to be a high correlation of catastrophic currency destruction and central banking. Such a high correlation that catastrophic currency destruction before central banking was almost exclusively limited to war-time scenarios. At least before central banks, the sovereign of the land had to at minimum collect all the coins in order to clip them.
+1
Everyone else: Know. Your. History.
If the corruption is so blatant, then why does it continue on and on?
It would seem obvious that once the corruption is exposed, "we the people" would change it ourselves, not vote for the next superficial telegenic leader who tells us what we want to hear. Since this isn't happening, one must examine "we the people" to understand why. It all begins with people living the inauthentic life, living the lie, not willing to look within and confront the beast that lay within.
The more we wish to remain in denial of who and what we are, the more infantile we become, the more we whore our "freedom" (which we really don't want to begin with) or more accurately our liberty to those who promise they will protect us from ourselves.
Or something along those lines. :>)
We have been in the "bread and circuses" phase for a long time. The corrupt ensure the participation of the masses by giving them small gifts. Like credit cards to make up for low wages. And easy NINJA home loans to make up for not having a financial future of any kind at all ever period.
It worked. The corruption went on for 30 years.
However it seems now like the game is up. So it will not go on for another 30 years, perhaps not even 3 years.
Though at that point we'll all be too busy struggling to survive the ongoing riots and the migration of wretched masses to take any personal satisfaction in the collapse of corruption.
The entire thing is lunacy. These idiots are asking other idiots questions when they should have abolished the Fed in 1914, 1930, 1937, the 1960s and again in 2008.
They will never learn, or stand up for what is right or in the Constitution.
They are not idiots in the least. You just cannot tell what the foosh they are up to. Nor can anyone else.
When someone with ultimate power over your ability to survive is in motion and using that power, and they are not telling you what they are doing and it does not appear that they give a solitary crap about your exitence, I suggest it is past time to be very afraid.
Ben's testimony nails down my opinion of his policy and approach. HIS IS ALL ACADEMIC AND THEORETICAL. The myriad inabilities to connect his ideas with probable practical outcomes are extraordinarily remarkable, for a person in his role. With each of his utterances I am more convinced that he is flying along at 10,000 feet, and not the 40,000 feet necessary. Moreover, I don't believe that he has the skills and ability to fly at 40,000. Notwithstanding, beyond Mr. Volcker, I don't see anyone on Obama's roster with this ability. That scares the hell out of me. We're in real trouble.
TPTB cannot see the long term....yes, I know, that's a moot and rhetorical observation.
I don't think that they're as much idiots, as incapable.
We're idiots if we continually elect incapable leaders. They cannot do the job, and they delegate to people who cannot do the job.
Or, Ben's job is to provide cover for all the Fed's operations by dazzling people with bullshit. Maybe he is just the spokesperson for the corrupt organization.
That's right. Ben is just the puppet, the front man, the entertainment, the talent, the face, the magician. The real power is hidden and we don't wish to really look.
For to do so, to find out what's really there, would require that you and I and others would actually have to do something about this, get our hands dirty, stop pointing to others, saying "Why aren't you doing something about this?" We would then be responsible for our own future, our own safety, our own emotional and physical well being.
God forbid that happens!
I'm in, I care not what the truth looks like. Bring it forth.
I agree, bring it froth, I mean forth.
What puzzles me is just who is the glorified dog & pony show for? Anybody gullible enough to fall for this crap is watching reruns of the Beverly Hillbillies, or something similarly edifying by comparison, on another channel.
"Tell me a lie Daddy so that I may believe it's the truth."
"Take the blue pill. Sit down....relax...and shut up!"
successfully pulling off the biggest heist in the history of man is hardly the work of incapable idiots, but it comforts some people to think that way as the alternative is too disconcerting for the average sheeple to ponder. those rigged diebold voting machines should save us all come november. see you in the fema gulag, no one here gets out alive.
http://www.youtube.com/watch?v=NKyFTnH2teo
meh....I think we are splitting hairs here. What happens when they run out of ink? 'merica will wake up. There will be blood in the streets. Unless BS thinks that he is welcome in China, these "idiots" better have a space station and a way to prevent muscle atrophy. We may be in a "casino gulag" and headed for worse, but we will drag those bastards with us.
I do get the nice, warm feeling that Bernanke will be the LAST Fed chairman of the United States. He is blowing a bubble so fuckin big that when it pops, he, the administration, the Treasury, and Wall St. are going to be so covered in shit that it will be impossible not to nail the fuckers this time around.
Ben is going to blow the USA sky high, hope you are prepared for the ride. My cash is off-shore and in the safe....need to add to the PM's a bit though.....
+1.5 quadrillion
You know, every cloud has a silver lining. --Blankster
This should be on the major networks picking this contradicting babble apart, but unfortunately they are bought and paid for too. Unless this hypocrisy and treason is pounded into mainstream's head it will never register.
BS, Geithththner, "Tall Paul" Adolf Volker, Larry "Heading for Fall" Summers, Bob "Chili Peppers" Rubin, and CO will all get what is coming to them. I believe it will be in their lifetimes, but even if not, do you think they will die with a clear conscious? I say, NO WAY! They will be haunted for eternity because they chose to chase paper and wreck havoc upon the sacred earth. They 'know what they are doing', but they 'know not what they do.' They will have to answer to themselves at the end, and none of their actions were EVER justifiable. Peace.
That was aweseom. "Chili Peppers" Rubin made me piss my pants, pure gold!!
I would love to see Rubin do the perp walk, smattered with tomatos by angry peasants whose money he stole over the last 4 decades. That would bring a huge grin to my face.
Um, has no one noticed this quote from ol'Ben:
"Given the very high level of reserve balances currently in the banking system, the Federal Reserve has ample time to consider the best long-run framework for policy implementation. The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system."
http://www.federalreserve.gov/newsevents/testimony/bernanke20100210a.htm...
yeah...
Why do some of these reps insist on giving Bernanke blowjobs before asking questions? ex: the last guy in the last vid.
Two points or dots I will connect for you:
The former finance minister of Japan stated they were threatened with "another" earthquake if they did not agree to turn over their central bank to the global cartel. One wonders about previous Haiti, Iran, and Chile quakes if you know the capabilities of HAARP. The former axis of evil countries had one thing in common - non cartel central banks.
Does the cartel work for governments or do governments work for the cartel? The military protects capital, that is important if you are one of the wealthiest individuals in the world - you would not want a country to change government and then nationalize assets you invested there.
The bankers are extremely powerful, elected officials are afraid of them since the bankers will do anything to protect the cartel and work collusively with their other central bank franchises without borders (Al Banka). Many politicians are of the worst character, working on behalf of principal instead of principle and would do anything for more power - bankers being the most powerful are attractive to them.
If the debt was included it would make ratios worse and the credit rating agencies would be tempted to change the rating.
And now a thought on the bell curve. The reason so many individuals vent on Zero Hedge is because it is a site with insightful comments from individuals higher up on the IQ bell curve. As IQ increases, diversity of thought also increases. Major opinions are often nothing more than the lowest common denominator that are used to corral and lead the sheep with low IQ's.
The republican/democrat paradigms are often used as an excuse not to think, but instead to state - "yeah, what he said" without having to actually process information and form an individual opinion. This is similar to convenience food, it is fast and easy and you don't have much time however it is not as rewarding and as healthy for you as cooking your own meal.
I understand the premise behind organizations like the CFR, essentially they know that the majority is low on the IQ bell curve and don't want the dim witted populace to elect dim witted politicians from their ranks (mob rule). Driving and directing agendas from the shadows provides some structure that lives longer than the election cycle, but it is important that the philosopher king be benevolent or it is a tool of tyranny with no accountability.
There used to be a hurdle for voting like land ownership, it would appear that without hurdles each politician appeals to the most base desires of the populace, campaigning as a santa claus ready to grant wishes to an ignorant populace that lacks the discernment to distinguish sound bites of empty promises that sound good from reality. Willful politicians love that people follow words without fact checking against actions.
If people were smart they would realize that everyone is self interested including politicians and the pope and that this is a natural survival mechanism. Other people don't feel your pain and they are not looking out for you although they might say that to get what they want.
If you start from the logical position that everyone is self interested, you could set up a system that would protect property and prevent plunder as the sole purpose of the law. This would benefit all non-parisitic members of society and form the basis for future production which benefits all.
Don't be an idiot. Atmospheric microwaves causing earthquakes, AND they can be targeted with pin point accuracy? Take a fucking science class, you illiterate fool.
Various stages of knowledge on a subject - 1. Unconscious Incompetence 2. Conscious Incompetence 3. Conscious Competence 4. Unconscious Competence (Expert)
Judging by your ironic comment referencing science, you are clearly at stage #1 and perhaps with some research you could graduate to #2.
Although it is not my job to educate the ignorant masses, I will let a few morsels drop so that you can continue your journey and enlighten yourself.
The best weapons provide plausible deniability and the military technology is usually 10-30 years beyond anything commercially available. There are patents on weather mod technology, old UN resolutions to limit weather modification as a weapon, and it was also in the '91 Rio Earth Summit. Think about the implications of GMO crops that do not reproduce and are therefore dependent upon next years seed supply. Control oil, food, and money and you are the de facto emperor.
The science channel did a great piece on the ability to stimulate earthquakes (Science) and the technology was discovered by oil exploration companies reading the subterranean layers with HAARP like equipment. They found that when the machine was turned on near a fault line, the ground moved (that's called an earthquake) and when it was turned off it did not. There is no need to pin point, only direct it toward a fault line, and they recreated it in the lab on a small scale (it worked). You have to admit, it would be a great geopolitical tool to get others to do what you want them to. If China, Russia, or Iran wanted to put missiles in Haiti, I could understand pre-emptive action.
A simple mind can not comprehend this, but think about wireless cell phones, bluetooth technologies and charging technologies that you can't see with the naked eye. A tip off would be the military ready to move before the actual earthquake in a target country, I wonder if that happened? Some may feign ignorance while actually being a mouth piece for a larger organization and wish to keep the masses in the dark.
The former finance minister of Japan stated they were threatened with "another" earthquake if they did not agree to turn over their central bank to the global cartel.
What is your reference for this info? B.F.?
Review this site for related coverage on the topic:
http://milkhouse-mouse.blogspot.com/2008/06/western-bankers-threatened-j...
The science is solid, the only question is if the tools are being actively used and you will have to process information to think and make that decision for yourself (it will not be announced on the front pages of the newspaper if that is what you were hoping for). As mentioned before it is unusual to have the military standing by with humanitarian aid. The earthquake in Chile happened right before a major election. This could influence the election and/or influence decisions that the newly elected politician might make.
One could try to discredit an anonymous blogger or any other source of information, however the real challenge is to think for yourself to determine if scientifically it is possible and the possible motives.
Since we are not privy to the decision making process (no transparency), we do not know if this force is being used appropriately. It is possible that weather modification is how the new cold war is being waged, but we do not know for what purpose. I would imagine if you could detect the change in the ionosphere a country might have some time to block it through spraying reflective metalic particulates at high elevations but that is only speculation. As with the last cold war, many iterations of offensive and defensive nuclear weapon technologies were developed behind closed doors.
Thanks, I don't doubt the science or the other info you state. I find B.Fulford to be less than credible. I have reviewed a lot of his videos and find quite a few discrepencies. The interview of Heizo is not shown in where he states this yet BF has it on video?
I can neither confirm nor deny his credibility although he must have a high IQ to have been so proficient in Japanese (has written a number of books in Japan). However, I did read this article from him that appears to confirm a video of the same event available online relating to the Japanese parliment and it appears credible:
http://www.projectcensored.org/top-stories/articles/24-japan-questions-9...
There appears to be a concerted global effort to implement police state like measures in countries around the world. The stated reason is that we need to be very afraid of "terrorism", however without seriously controlling borders there is a major disconnect between policies. We do not know what the real objective is, but if I had to guess the answer lies in books like 1984 relating to the desire for total control by already powerful individuals.
It doesn't matter what you call a government - fascist, communist, socialist, or capitalist, the way to determine if it is tyrannical is whether it seeks to centralize power. The founding fathers understood that absolute power corrupts absolutely and purposely created three branches of government to keep each other in check. If a political party decides that it wants to black label anyone that disagrees with its opinion it can do so by using an enemy combatant label or anything else it wishes to paint in a negative light.
If you look at the true definition of terrorism, it is using threats and fear to acheive political aims. If that is the definition, then we have many examples to choose from that are state sponsored. It is difficult to rule a country with such diverse political perspectives and get much accomplished, and that's what was intended. I don't think social engineering is the answer as governments then try to influence the populace by telling gigantic lies to advance their globalist agendas (like global swine flu, global terrorism, global warming, & global financial doom - all require a "global" solution). The globalists are globalists because they want to rule the world, not share power globally.
I can neither confirm nor deny his credibility although he must have a high IQ to have been so proficient in Japanese (has written a number of books in Japan).
(Yes his Japanese is perfect. I lived in Japan so I can speak Japanese too, but nowhere near his level.)
Yes I know and I am not attacking his intelligence. Thanks for the link, interesting story. I have come to the same conclusions that you have, but having Heizo on video actually saying that the banking cartel threatened him would be credible evidence that not only are they using haarp but are using it for the banking cartel. I have my doubts that somebody of his stature would say this on videotape . Thanks again appreciate the info.
This whole Congressional dog and pony show is for the benefit of the voters back home. It's an election year and they all want to say they tried to hold someone accountable. It's all BS. The congress monkeys were elected by the bankers, for the bankers. Nothing will change until there is an existential crisis and the people take over.
Go back to your jobs or trying to beat the market, and wait for the fall. Assuming it even happens in our lifetimes.
Since you are so literate have a read of the 1997 DoD News Briefing: Secretary of Defense William S. Cohen
In which the Sec of Defense clearly states:
So underfunded 3rd world terrorists are in the lab figuring out how to set-off earthquakes, but the US MIC funded by limitless black budgets can't muster the technology, some 20 years later.
Since you are such a fan of reading, do some research on the JASON project and then tell me how ridiculous this premise is.
The shit they teach you in "science class" is the same thing they teach you in "economics class" or "history class" for that matter.
Your comments refelct the mentality of someone who does not know how to think for themselves, and if that is indeed the case, they are entirely unwelcome here.
It's outstanding work like this which keeps me coming back to read Zero Hedge. Thank you. I'd like to contribute but I will not use Pay Pal. You have my e-mail address. Tell me where, p.o. box, whatever, and I'll send you cash, a check, or my credit card information.
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