Things That Make You Go Hmmm - Like Endless Revionist History

Tyler Durden's picture

There is a kind of rubbernecking excitement that one experiences when we hear a person in position of power, control or money, utter something that is such a blatant lie that we wonder how anyone could believe listeners are so stupid to even remotely believe what is being said. The excitement is only magnified when we go back in time and re-listen the spoken lies, with the realization that they have already proven false. Perhaps nowehere in history is this kind of active revisionist history more appropriate then when listening to central bankers, who have been wrong on more occassions than anyone else in a professional occupation, and still retained their jobs.  For everyone who enjoys being amused at the expense of others' stupidity, the latest note from Grant Williams will be full of delightful reminiscences. And while ridiculing idiots and institutional stupidity is easy, there is always a lesson to be learned from someone else's humiliation. Or not. Perhaps sometimes it is best just to jeer at the morons who are in charge of this wholo ponzi house of cards. As Williams says: "The trick is to try and figure out which words of encouragement being offered today by those doing the talking will be remembered for all the wrong reasons when viewed in the rear-view mirror of history. Fortunately, we have a collection of people at the helms of  Central Banks, governments, political unions and international organizations who make this job fairly simple as most of what they all say will probably end up haunting them for the rest of their lives. All one has to do to steer through the turbulent waters is work  out which comments from public officials are virtually guaranteed to be laughably off the mark, or which smack of far too much invested optimism, discount them in favour of logic and move forward."

Grant Williams' - Things That Make You Go Hmmmm (pdf)

Hmmm Jun 14 2011

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Rodent Freikorps's picture

Finally, some red meat.

rocker's picture

+1 Some of this threads best work to date.

Howard_Beale's picture

And here I thought Michele Bachmann had cornered the market on revisionist history. Nice to know there is always plenty to go around.

strannick's picture

Former Vice-Chairman (no, not the Chairman of Vice) of the Federal Reserve Alan Blinder said "the last duty of a Central Banker is to tell the truth".

Thats an insteresting statement considering that the oath Central Bankers take on accepting the office probably implies something about truth, honor, duty, and other such Falstaffian intangibles.

wisefool's picture

Watched a little bit of the republican speaches in New Orleans today. Bachmann, (who I think will be on the ticket, either as #1 or #2) Said:

"All of us republicans have only one goal. Make Barack Obama a 1 term president" Standing ovation.

Really? we are at the edge of the Abyss, and you are going to base your platform on taking away the presidendency from the opposing party?

She later goes onto to talk about her tea party values, repealing obama care and sums up "I am a IRS lawyer, mother of 5 .... congress person"

Does she understand what the orginal Tea Party was about? Maybe I don't, because they gave her a standing ovation. And as usual, the speakers made tongue in cheek jokes about Ron Paul being crazy.

Long-John-Silver's picture

At this point the only thing to worry about is stocking up on the three B's.

Beans, Bullets, and Bullion.

Atomizer's picture

Tyler, its all about honesty & trust. When the con artist are running the show, it all collapses around them. Those who followed 2008 will not help the boy who called wolf.

I won't drop names, but they know who they are. Sadly, these scumbags thought they would be documented in history. They in fact; will be noted in the historical records, not in the fashion they expected.

Oracle of Kypseli's picture

By all means, please give names. This is not a PC blog. Enlightening others is.

Shell Game's picture

There's underlying wisdom in not 'dropping names'.  Doing so typically devolves into devisive bickering and foolish defensiveness.  The names change, the game remains the same.  All one needs to know..

iNull's picture

"Those who followed 2008 will not help the boy who called wolf."

Unless, like Hank Paulson, shepherd boy stumbles into the halls of Congress with a flop sweat wearing an explosive vest and gripping a dead-man switch. Then it's game on.

bob_dabolina's picture

Things that make you go hmmmmmm - 

“Precarious struggle” at another plutonium reactor in Japan: 6,000+ lb. device crashed into inner vessel, likely stuck — Removing it “fraught with dangers”

YHC-FTSE's picture

Half a dozen "experts" who said that the GE reactor vessels were designed to be "indestructable".

Long-John-Silver's picture

and "experts" claimed the Titanic was unsinkable.

baby_BLYTHE's picture

and just like the last time there will not be enough lifeboats for all of America when Captain Ben S Bernanke sinks the U.S.S Titanic

bob_dabolina's picture

The nuclear issue is contained. We don't find the nuclear issue to affect growth. We believe children are safe to take field trips to reactor #3. Everyone should continue drinking the tea leaves, especially pregnant women.

--Benji Bernakashori

jeff montanye's picture

and the safe level of radiation exposure is wildly increased in the event of a nuclear accident. 

penisouraus erecti's picture

"There has been a great deal of misplaced commentary about how the presence of some $1.6 trillion in commercial banking deposits with the Fed has somehow meantthat its QE programmes were NOT increasing they money supply (they have been, by 30% since the panic first broke out) but were merely execing some kind of wholly neutral ‘asset swap’ (yes, but the point is the Fed has been swapping bonds for MONEY!"

Keynsian heretic! In other words, a man who knows what he's talking about!

buzzsaw99's picture

too bad the tbtf crapped in their mess kit. they can't sell junk bonds because the word is out so even though the fed took away all their crappy assets and hand feeds them profits that still leaves the fixed income unit to wither on the vine.

Cheesy Bastard's picture

Guillotines, already, for cryin out loud.

gwar5's picture

Great stuff, thanks!!

I particularly liked Feldstein's quote, which has the clarity in it to repeat to successive generations of offspring when they ask how the Great Great Depression started. 

The pithy Argentinian central banker succinctly says it all in few words, in great contrast to his pompous Eurotoad effetes who won't shut up and just get on with it.  

Mario Blejer, Argeninian Central Banker --- "There is no solution without debt relief, which means, without euphemisms, default.”

Default euphemisms, Bitchez!


Imminent Collapse's picture

Video has created a problem for liars - too easy to prove that they are two faced assholes.  NWO - don't fear it if you can design it.  

Caviar Emptor's picture

Video killed the radio star

The timeline of History of Modern Music failed to mention a key event: 

12:01AM, August 1st, 1981: First music video shown on MTV in the US: Video Killed The Radio Star by The Bugles. Started a whole new era

OldPhart's picture

I remember Paul McCarney going on Johnnie Carson to demonstrate his music "movie" shortly before.  Was at a friends house that "had cable" (pirated from the line his neighbor had) for a big party to watch a new channel begin.  I had no clue what it was about but there was free beer.

So, yes, I saw the first MTV video as it started in Orlando, Florida.  About three minutes later was wondering what the big deal was...and still do.

blindman's picture

more ...
A Quick Guide To Who Gets Crushed If Greece Defaults
Gregory White|Jun. 15, 2011, 10:03 AM
and more..
Tom Waits - The World Keeps Turning.

Caviar Emptor's picture

Once upon a time Joe the Plumber always backed the conservative side of politics ie TPTB. Not anymore. The thin tissue of lies has gotten too tenuous. All over average people are turning disaffected and disbelieving 

nmewn's picture

Past, present & the future, I will laugh at the absolute fools who placed this man in a position of responsibility...its not so funny right now.

“I have to say that I am very troubled with some of the- I wanted to use a word I shouldn’t use- these people in the House, these tea party folks who say … we’re not willing to raise the debt under any condition,” he said. “But I think cooler heads will prevail.” Harry Reid June 17 2011

Shell Game's picture

You just can't make this stuff up.  How the NRA fell for his crap is beyond me. 

More classic, original material from a 'cooler head':  "they'll find out what's in the bill after it's passed."  Simply, endearing..


Stoploss's picture

Here's one: When TARP was implemented, gold shot up, until tarp stopped, then went sideways until QE1. Hmmm.

No trace of the tarp money.

Cdad's picture

"But it isn't just the Greece situation that throws up these kinds of statements.  You see them wherever you see a problem these days as the combination of one part wishful thinking mixed with two parts wilful misdirection is just about the only policy option left to administrations who have thrown the kitchen sink at the struggling economies and seen the sort of poor returns on investment that only the New York Mets can usually achieve."  Grant Williams

Sheer poetry regarding the truth of our current situation...across the entire globe.  A very good reason to do the exact opposite of what every single criminal syndicate Wall Street banker is now telling you to do...regarding "historically cheap valuations" and "buying opportunities" and the conventional wisdom now being discussed per the put/call ratio. 

"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.  In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."  Ben Bernanke, July 2005

Yen Cross's picture

+1. Keep it real Cdad!  

Bansters-in-my- feces's picture

Hey...not picking on anyone...but "revionist"...?

No spell check...???

JW n FL's picture

off with his head!! CHARGEEEEEEEE!!


Tyler is drunk on this cucumber vodka! LOL that keeps popping up in my google window ads!

Absinthe Minded's picture

I keep getting that one too, what are they tryong to say about us? I'm more of a gin guy, vodka makes me sad.

Yen Cross's picture

 The "Green Monster"   RULES!

Jack Burton's picture

   The Powers That Be have  control of the Tea Party, The Republican Party and the Democrat Party. About the only political peronage they don't seem to own is Ron Paul. Thus you see media present and represent Ron Paul as slightly crazy and not to be listened to.


Long-John-Silver's picture

He's not to be listened to because he's always right. When he tells you something is going to happen, put money on it.

wisefool's picture

Ron Paul stood and delivered today in New Orleans. Gave his consistantly solid message, without the pavlovian party bell ringing.

Next speaker.

"Ron, when I first started seeing you at these things. I thought you were crazy, I have to admit I am becomming just a little bit crazy"

The audience gives the chuckle dinner party participants do after arguing about the check, when somebody says "I'll get the tip and tax, and put it on my card" Everybody knows that bastard is going to give the bare minimum and write it off. And they would do the same, but they didn't have to this time.

Absolute and total capture. The next generations have no other training to base thier thought processes on.

gwar5's picture

Sorry, but I gotta call a little bullshit on that...but cudos for the Ron Paul.

The very first Tea Party protests were inspired by the bank bailouts and Porkulus spending, I was there.  The TP targets RINOs owned by TPTB, supporting guys like Sen. Rand Paul, instead. They have now also targeted Orrin Hatch this time around who voted for TARP, among other things. 

The democrats were totally taken over by the Socialist Democrats of America (70 members of the House are card carrying members) who work hand in glove with TPTB. Fiat currency is the ultimate weapon for redistribution through deficit spending and debasing USD to confiscate everybody's savings. It's always been thus.

What is going on with TPTB is not capitalism. It's in-your-face cronyism, very close to fascism, except Obamao is no El Duce' calling the shots. He just digs being the joyful arm-twister, tightening the grip. 

Moe Howard's picture

Very good, I cannot disagree with anything you wrote. I was at the KY Tea Parties, they were attended by regular people, the few organized people there were Libertarians and C4L people. Some few local politicos showed up but were not warmly received. The same people got behind Rand Paul and fought the Republican Party first, and the Democrat Party second to get him elected. TPTB did not get us together, did not finance us, and for sure do not control us. I spoke to Rand Paul in Etown at a private fundraiser, I said I only ask one thing - no more wars without declaring war by Congress. He is doing everything he can to fight that fight. That is all I can ask of my Senator. Now the rest of you need to elect Senators who will fight the same fight. Then we will have a chance.

Our congressman, whom I contacted about the unPatriotic act, cited the two Iraqis the FBI arrested in Bowling Green as a reason we needed to suspend constitutional protections. Seems to me that the FBI cleared those two Iraqis to enter the US, even though they had the fingerprints of one on a road side bomb, and the FBI provided the fake munitions they were supposedly sending to Iraqi. If the FBI didn't allow the two to come to the USA, there would never have been a problem in the first place. In fact, why wasn't the guy with the fingerprint on the bomb fragment not tried and jailed in Iraq as soon as he applied for a visa? I think the answer is obvious, the FBI needs terrorists to guard against, so they are importing them. That way they are easier to catch. The moral of the story? I will be actively working against this congressman in the primary. If he thinks we don't need liberty, then I think we don't need him.

gwar5's picture

Spot on. If current laws and common sense were used against radical islam, instead of coddling them as a protected minority, we wouldn't need the patriot act. 

We don't see moderate islamists condemning the terrorists so they either don't exist or they have been silenced as well. "Sharia is a totalitarian political system masquarading as a religion" -- M.E. analyst


Shell Game's picture

I see where you're going with this and it is the one place the Tea Party has gone wrong and is how it got hooked by TPTB.  Most TPs I talk to want to wipe the earth of all muslims, a slippery and unethical slope and merely justification for global interventionism and deficit spending.  The Totalitarianism of Islam virtually guarantees they will collapse themselves. Those kind of regimes, no matter the flavor, always will. 

I like the idea of seriously enforcing our borders and keeping our noses out of other peoples business by bringing the bulk of our troops home.  Exist within our means with small government, let business run with .gov meddling and make economic allies (the only real ally).

A true Constitutional government and lifestyle is, in fact, a leap of faith.  There are no gaurantees that anyone won't fail and no guarantees that we can control the rest of the world.  But somehow that 'shining beacon' does some pretty good things..

Shell Game's picture

What is going on with TPTB is not capitalism. It's in-your-face cronyism, very close to fascism, except Obamao is no El Duce' calling the shots. He just digs being the joyful arm-twister, tightening the grip.

++ Gwar.