Watch Ben Bernanke's Semi-Annual Monetary Policy Update To The Senate Live

Tyler Durden's picture

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youngman's picture

To keep coming out and to say there is no inflation...he is just digging his hole bigger and bigger...what is wrong saying there is inflation..its what he wants?????

A_MacLaren's picture

Big Lies cannot be reversed, especially ones that impact interest rates as they are linked to bond prices as that will implode the Fed's Balance Sheet.

Fish Gone Bad's picture

I made a resolution to be a better person this year.  But I still really hate Bernanke.

Piranhanoia's picture

bite fat man, eat. feed family. 

bankrupt JPM buy silver's picture

Most transparent central bank in the world...HAHAHAHAHAHAHAH

 

www.silvergoldsilver.blogspot.com

bankrupt JPM buy silver's picture

is a self sustaining economy now precedent with a 5 trillion dollar infusion?

 

www.silvergoldsilver.blogspot.com

Dr. Porkchop's picture

He should be down in a hole, and the first thing he should hear in the morning is;

 

"It puts the lotion into the basket."

gordengeko's picture

 

Morpheus: Unfortunately, no one can be told what the Matrix is. You have to see it for yourself.

Share this quote


Morpheus: The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
Hdawg's picture

Genius film.

Works on so many levels.

 

Beware The Day Of Purim. 19th-20th March

Hdawg's picture

Indeed. Also launch date of the Invasion of Babylon...I mean Iraq 2003 and the 20th march is the revolution march date for Saudi. I fear/know oil will spiral.

In order to get to Zion you have to go through the Nebuchadnezzar (The Babylonian King that captured  Jerusalem in 597) ...The Matrix is all around you.

Have faith, they will eat their own tail. 

unwashedmass's picture

 

this is like a fantasy -- 3.5% growth? if the peasants can't afford the gas to go to the store.....

he needs to do a few helicopter drops on the serfs....not just his friends at the banks.

TruthInSunshine's picture

Take The Red Pill (on another forum) said:

 

Well, the report is based on reality, and here are the financial terrorists implementing this plan:

1)   The Federal Reserve (with head terrorists Bernanke, Sacks, Frost & Dudley).

2)   Goldman Sachs.

3)   JP Morgan (hello, Blythe).

4)   Rothschild N M & Sons Ltd
     New Court
     48 Carey St, City of London EC4P 4DU, United Kingdom
     020 7280 5000

Hdawg's picture

Boom...you said the R word...watch your back....this site is not pure.

firstdivision's picture

Is the chairman of this committee illiterate or just slow in the head?  Listening to him speak makes me want to repeatedly punch myself in the face.

ydderf1950's picture

he looks retarded and half asleep or on drugs

bigking12345's picture

he's a politician, he is stupid, drunk, high, and retarded.

Wynn's picture

Sen Johnson had a stroke a few years ago. Being from South Dakota, he's in as thick as theives with the credit card companies.

H. Perowne's picture

He's going to blame the eventual stagflation on oil prices skyrocketing as the Middle East explodes. And next he'll tell me that wet streets cause rain.

Don Birnam's picture

+1.

"Who do you believe, me or your eyes ?"

Saxxon's picture

"Post hoc ergo propter hoc".

celticgold's picture

er....doesnt he have a mandate to control inflation? just wonderin

HoofHearted's picture

He has it under control. He is 100% certain he can make it stop on a dime, roll over, and play dead. And he is certainly smart enough to know better. So, maybe he's just stretching the truth a wee bit...

NotApplicable's picture

Oh, it's controlled alright. It's a maneuver known as full-fucking-throttle.

william the bastard's picture

Lying bilderderg bastard. Oh wait.

redpill's picture

Baghdad Bob was more convincing than this.

nonclaim's picture

"Pretenders" is the word to describe this bunch of liars and crooks.

TruthInSunshine's picture

Bernanke keeps pushing his QE straddle, and what a straddle it is.

Now, he claims QE is needed because of the housing crisis, and because PCE is down vs a year earlier, inflation will be 1 1/2% this year, and wage growth is slow.

Aside from using the PCE as nearly a sole crutch to claim inflation is low (he looked up and raised his eyebrows when asked about inflation retorting "Well, according to the PCE...hint hint, wink wink..."), he is just a pathological liar, and I see even his former allies abandoning him as there is clearly what a technician would call a 'hangman's noose' forming around his neck.

edit - oh, he just acknowledged commodity and oil price sprikes could "lead to sustained inflationary pressure." How grand of him.

beastie's picture

For a quick summary transcript....

 

"Blah, blah, blah"

"Some risk blah, blah"

"We have / are tools blah, blah"

"Inflation under control but ready to act blah, blah"

"Worried about deflation blah, blah"

"QE who? blah, blah. Maybe, not saying. Blah, blah"

"We are confident that blah, blah"

Rising food prices? "It wasn't us blah, blah"

Mark to market? "Ruh roh, em uh. We are confident blah, blah"

Rinse and repeat.

 

 

Arkadaba's picture

Thanks for the summary! Couldn't bear to watch it myself.

primefool's picture

Gotta read the meanings behind the words. eg . How do you make sure inflation expectations are well anchored? Hint : By making gdamm sure the sheple's incomes dont rise too much.

nathandegraaf's picture

Teflon Twenty is getting hammered.  What, no welfare checks anymore, Ben?  Or are you just no match for Brent/WTI. 

 

Silver fighting Brent pretty hard today.  Best of luck to the bugs. 

Mr Lennon Hendrix's picture

That is the same BS it said last year!

primefool's picture

oil, food, copper etcetc - the Fed does not consider these prices to be under their purview. Not their problem. The ONLY inflation they care about is Wage Inflation. And yes they would like more emplyment. So in short - if the Fed is really really successful- we will have a country of har working serfs making very little money ( after all wages have not risen in real terms in 30 years!). To now worry about a 2% increase in wages - well -- you get the idea!

unwashedmass's picture

 

is anyone in that room going to stand up and tell the truth?????????

this is utter insanity.

A_MacLaren's picture

In a time of universal deceit — telling the truth is a revolutionary act.

These minions of the system, are generally speaking to maintain the system, not challenge it.

Vested interests will always expend maximum effort to not lose that in which they are vested.

cougar_w's picture

It's like watching State TV in Libya. You can get segments of it on Al Jazeera, they show LIbyan TV for laughs. It's all ponies and unicorns on State TV. Happy children lining up to enter school. Workers singing Gadaffi's praises while they toil. Women carrying pro-regime placards and ululating.

It is of course scripted and the message is entirely insane. Deranged, detached. It is intended from the outset not only to misinform, but to entirely unwind your ability to believe anything at all from anyone. Once you are helpless with mental confusion and self-loathing they proceed to do exactly as they like.

You don't have to believe any of it. You just have to watch. Your mind will break whether you believe it or not. And that is the intent.

shesalive's picture

at first i read segments as 'smegments'. this site is really having an effect on me. fits with the context, though.

unwashedmass's picture

 

when is someone going to call an end to this?

when are they going to stand up and admit that Bernanke has committed a catastrophic mistake?

nathandegraaf's picture

According to Congressman Paul, the FED will call an end to this when they destroy themselves.  Bernanke will get a job teaching in the Ivy League or England. 

bankonzhongguo's picture

Does the Fed's charter end in 2013? 

I read a ton of crazy stuff that it ends with the crazy Mayan calendar deal. 

Insane.  Insane?

Is there someone with a JD that can opine on this?

Maybe the Fed needs to cause more financial disaster in order to keep their skin in the game.

2012:  PM or Fed fiat?

Pick a side.

ABCStore's picture

"One of the most transparent central banks in the world..."

For some reason, he reminds me of

http://www.imdb.com/media/rm3675295232/nm0000195

 

ABC

poor fella's picture

Ha!

That's funny.

What About Ben?

Baby steps B.S., baby steps.

Ratscam's picture

... the Federal Reserve is the most transparent central bank ...

therefore the audit every year, no Bernanke?

robbery in broad daylight!

luk427's picture

I thought it meant we will gladly show exactly how we are fucking you.