This page has been archived and commenting is disabled.

Watch Day 2 Of Bernanke Testimony, This Time Before House Financial Services Committee

Tyler Durden's picture




 

Barney Frank quizzing Ben Bernanke has got to be the funniest thing one can see today. So here is your chance to laugh. While not expected to say much if anything of note, using the same testimony as yesterday, Bernanke may engage in a few Freudian slips before the Frank, who has already asked the key question - should the Fed engage in more bond buying in light of the oil price spike. Don't expect a response. From C-Span: "Today, the House
Financial Services Committee can expect to hear more of the same from
 Bernanke as he appears before lawmakers for the second time this week.
They will likely question the Fed Chief on what the Central Bank is
doing to jolt the economy into increased recovery. Committee members
will also want to continue yesterday's line of questioning on how the
Fed is reacting to oil prices that have been going up up up in the wake
of unrest in the Mideast and North Africa."

Watch the live webcast here:


 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 03/02/2011 - 11:15 | 1011134 Mercury
Mercury's picture

At least he's now the Chairman of Nothing.

Wed, 03/02/2011 - 11:25 | 1011177 AN0NYM0US
AN0NYM0US's picture

two years and even a year ago I used to watch the testimony of Bernanke, Geithner etc with interest thinking that maybe, just maybe there would be a bit of truth and justice.  I am two years older and wiser now. I turned off CNBS once and for all more than a year ago and while I still hold out hope that something might come of these hearings I am also hopeful that this weeks powerball has my numbers. 6666666

 

Wed, 03/02/2011 - 18:25 | 1013053 jmc8888
jmc8888's picture

You got better odds with that powerball ticket than you do prospering because of this 'miraculous' recovery.

Wed, 03/02/2011 - 11:29 | 1011205 covert
covert's picture

the real power is always behind the throne, the rest is a pr smokescreen.

http://covert2.wordpress.com

 

Wed, 03/02/2011 - 11:34 | 1011226 Turd Ferguson
Turd Ferguson's picture

Tyler, please remove the picture of Barney Frank. It makes me want to vomit.

Wed, 03/02/2011 - 11:59 | 1011328 mtomato2
mtomato2's picture

Frank alone is worth the price of admission any day.

He is an actual one-man freak show.

 

Here's something fun you can do at home:

Imagine Frank and Napolitano!

Sorry.

Wed, 03/02/2011 - 12:45 | 1011576 DoChenRollingBearing
DoChenRollingBearing's picture

Did any of you all see what I saw?

About 10:45 I had the hearing on CNBC.  Just as the Chairman of the committee said time was up on someone, Mark Haynes comes on and says they have to go to a commercial.  I was curious to see who CNBC was omitting, switched over to Bloomberg and saw who started grilling Bernanke.  Yes:

Ron Paul.

FILTHY CORRUPT CNBS!

Wed, 03/02/2011 - 12:51 | 1011617 Michael
Michael's picture

I'm watching it on C-Span. RP leaves the room after his question too. I'll catch the replay on Daily Paul.

Did you catch the guy behind and to the right of Bernank with the Gadsden Snake T-shirt?

Wed, 03/02/2011 - 13:36 | 1011845 Citxmech
Citxmech's picture

Paul talking Gold as money was priceless.  I actually got up off the couch and gave him a fist-pump.

Bernanke's reply was priceless too:  "people don't want to buy gold..."

Umm hmm.  It must be loney in his crumbling tower built on lies and bullshit.

Wed, 03/02/2011 - 13:57 | 1011897 G-R-U-N-T
G-R-U-N-T's picture

"Here's something fun you can do at home:

Imagine Frank and Napolitano!"

I have and this musical score came to mind....

http://www.youtube.com/watch?v=3J0utfYWJvg

 

 

Wed, 03/02/2011 - 13:57 | 1011960 sabra1
sabra1's picture

what would their kid look like? sheeeesh!!!

Wed, 03/02/2011 - 14:10 | 1012011 G-R-U-N-T
G-R-U-N-T's picture

"what would their kid look like?"

http://www.telegraph.co.uk/news/worldnews/barackobama/8356132/Leading-Re...

 

 

 

 

 

Wed, 03/02/2011 - 12:39 | 1011469 Spalding_Smailes
Spalding_Smailes's picture

Turd ...

 

How can you sell / pimp the dollar's death / " the end of the Great Keynesian Experiment is upon us. Prepare accordingly "

 

And out of the other side of your mouth .... How's the new ice cream shop doing .... ???? Lol'

he retired to a career as a serial entrepreneur in 2008. "

 

Got  ... Ulterior Motives ... ? Hmmmmmmmmmm, enquiring minds / ZHers want to know.

Wed, 03/02/2011 - 13:55 | 1011947 tmosley
tmosley's picture

Small pleasures are the last thing that people will continue to spend money on.

But hey, how's the furniture delivery business going?  You get a load this week?  Probably not.  LOL.

Coming soon, free blow job with every furniture delivery!

Wed, 03/02/2011 - 14:23 | 1012097 10kby2k
10kby2k's picture

i've never seen a female furniture deliverer

Wed, 03/02/2011 - 12:37 | 1011533 flacon
flacon's picture

Bawney Fwank. 

 

I agree Turd. Listening to that guy is like listening to fingernails scraping on a blackboard - or chewing aluminum foil. 

Wed, 03/02/2011 - 12:43 | 1011562 SparkyvonBellagio
SparkyvonBellagio's picture

Most people fear the Gimp, Barney digs him.

 

 

Wed, 03/02/2011 - 15:41 | 1012379 bb5
bb5's picture

it was like watching bwarney perform analingus on the Ben Bernank

Wed, 03/02/2011 - 12:20 | 1011372 Michael
Michael's picture

Whatever the Bernank says to rationalize what they are doing is irrelevant.

The FED is a business, and as a business they are always trying to increase their market share and grow in size.

Therefore, their opinion on matters is biased and a conflict of interest.

The official determination on matters concerning the way things really are, should be determined by the comity, then disseminated to the public in an official announcement.

Example;

This comity had determined The Bernanke is fruit loops. You could call him opposite man.  Every thing he predicts, the opposite comes true. His track record is perfect in getting everything wrong. You listen to him, you are a moron.

Wed, 03/02/2011 - 13:05 | 1011686 DRT RD
DRT RD's picture

   +1

Wed, 03/02/2011 - 13:38 | 1011865 Harmonious_Diss...
Harmonious_Dissonance's picture

Very true, Bernanke is the biggest joke. The world has lost faith (took wayyyy too long)

Wed, 03/02/2011 - 13:57 | 1011958 ghostfaceinvestah
ghostfaceinvestah's picture

+1438

Wed, 03/02/2011 - 17:58 | 1012945 Zero Govt
Zero Govt's picture

Bernank repeating on his error of 2005 not seeing the housing bubble. This time he's talking his book that his 'solutions' have made for recovery and saved the financial system (well he would say that wouldn't he!).

Barney Frank just plays a cynical tee-em-up for Bernank, pathetic. Remember the biggest rule in Washington of the past 10 years: Barney Frank knows everything but any shit hits the fan (US property) he had nothing to do with it    

Wed, 03/02/2011 - 12:19 | 1011442 Salvatore CFA
Salvatore CFA's picture

The same old song and dance. The same old rusty trombone.

Wed, 03/02/2011 - 12:45 | 1011570 Michael
Michael's picture

That guy asking about man-made climate change is off the reservation with his question.

My answer is the CAGW question; The MSM is misinforming you about there being a warming bias. The planet now has a cooling bias due to the extended solar minimum.

Wed, 03/02/2011 - 13:21 | 1011754 Ferrari
Ferrari's picture

Fabulous avatar/reference: One of my favorite cinema characters. Classic. "Stupido! Stupido! Know nothing!"

Wed, 03/02/2011 - 11:17 | 1011145 Confused
Confused's picture

Did that douche just say independent federal reserve? 

Wed, 03/02/2011 - 12:18 | 1011435 Michael
Michael's picture

That douche just said he manipulates the financial markets.

As he repeats over and over in his head;

I am omnipotent, I am all powerful, You are irrelevant.

I am omnipotent, I am all powerful, You are irrelevant.

I am omnipotent, I am all powerful, You are irrelevant.

Wed, 03/02/2011 - 11:18 | 1011147 Oh regional Indian
Oh regional Indian's picture

BernANK. BaenryfrANK.

I guess the BANK rules, eh? Now, I do consider the fact that said Frank is still in office is one of two things:

a) A statement about Mass.

b) An abject failure of the political process.

Which is it?

And Who is Hu?

ORI

http://aadivaahan.wordpress.com/2011/03/01/on-outsourcing-and-its-ills/

Wed, 03/02/2011 - 11:18 | 1011148 Eireann go Brach
Eireann go Brach's picture

Where is Ron Paul? Why has he not been involved these past few days? Is it because everyone knew they would call bernanke out? these clowns asking questions have not got a clue and Bernanke talks down to them as if they are idiots

Wed, 03/02/2011 - 11:26 | 1011180 TeamAmerica
TeamAmerica's picture

Might be because Ron Paul is an idiot and "they" don't want him to embarrass himself.

Wed, 03/02/2011 - 11:28 | 1011201 Confused
Confused's picture

as opposed to the opening remarks about having an independent federal reserve. 

Wed, 03/02/2011 - 11:40 | 1011251 takeaction
takeaction's picture

"Idiot".....what the F is wrong with you??  Here he is again on TV babbling about a thing called THE TRUTH.  You are a douche...Better figure it out......Ron is on OUR side.  Look.

http://www.youtube.com/watch?v=siosCGynR-s

Wed, 03/02/2011 - 11:44 | 1011265 SheepDog-One
SheepDog-One's picture

I dont care! Right now Ron Paul has done nothing he's a sideline complainer doing politics positioning! I dont want to see him complaining on Fox News, where is he up there today saying 'Youll keep monetizing the debt over my dead body, it stops TODAY'! Huh?

Wed, 03/02/2011 - 11:58 | 1011333 takeaction
Wed, 03/02/2011 - 12:03 | 1011351 SheepDog-One
SheepDog-One's picture

Heard it! 'DRILLED' the Bernank with that question about how do you define the dollar? Which Bernank just sidestepped like a turd on a sidewalk? Give me a break!

Wed, 03/02/2011 - 12:55 | 1011636 DB Cooper
DB Cooper's picture

Agree - if Ron Paul is the best we got we're in a lot of trouble!  Not that intelligent and these obscure questions make me wonder if he's anything more than a plant to convince the sheeple there is a representative on our side!  Sad.

Wed, 03/02/2011 - 11:47 | 1011273 TeamAmerica
TeamAmerica's picture

Ron Paul is NOT on my side.   I prefer that the USA remain intact, warts and all.   Ron Paul is an idealogue who is unconcerned that his rantings, if taken up as actual policy, would result in our downfall. 

Wed, 03/02/2011 - 12:10 | 1011387 Dr. Richard Head
Dr. Richard Head's picture

I got news for you TeamAmerica, unless you are one of the elite, the warts are on your ass and you are paying the price for those warts.  Unless you are one of the elite that benefit from dollar debauchment.  In that case, suck a Koch.

Wed, 03/02/2011 - 12:15 | 1011420 packman
packman's picture

Look around you, fool.  History is proving right before your eyes that one of the biggest methods of dividing a country is massive inflation.  Ron Paul is the biggest inflation hawk of all - bar none.  He's the best chance we've got at keeping the nation intact, long-term.

Wed, 03/02/2011 - 12:37 | 1011525 Chump
Chump's picture

LOL...you think not adopting fiscal austerity and sane monetary policy is going to help us "remain intact."

Good luck!  And stay the hell off my lawn zombie!

Wed, 03/02/2011 - 14:38 | 1012160 TeamAmerica
TeamAmerica's picture

All Your Lawn Zombie Are Belong To Us!

Wed, 03/02/2011 - 11:39 | 1011248 SheepDog-One
SheepDog-One's picture

Yea where is this great savior Ron Paul? Not even there? Preparing to do more obscure radio interviews today? What a fucking farce.

Wed, 03/02/2011 - 11:55 | 1011310 Oh regional Indian
Oh regional Indian's picture

i agree completely.
Ron Paul = Red Herring

Cannot understand the deification of Mr. all talk no walk.
People idolize him for educating them. 30 + years with the same message.

A parrot could have done it better.

ORI

Wed, 03/02/2011 - 12:12 | 1011402 Dr. Richard Head
Dr. Richard Head's picture

All talk no walk?  Are you fucking kidding me?  Audit the Fed Bill ring a bell?  Unfortunately, Mr. Paul does not have dictatorial powers to ram through a law to require all congressman, the President, and the Judicial branch to follow that god-damned piece of paper (the Constitution).  Unfortunately people like you are part o' the problem as well.

Wed, 03/02/2011 - 12:33 | 1011485 Oh regional Indian
Oh regional Indian's picture

Dr. Head, the greatest crash of all time unfolding before your very eyes ring a bell?

The concerted fed/CB/Bankster hatred with the Benbabwe himself leading the attack and having all his minions do the same? Gross's sudden getting of religion ring a bell?

The bill was introduced because it was a convenient time to do so. To think that Ron Paul, with his dynastic politics clear and his son's spinelessness in voting for Homeland Security showing a very interesting departure from promises;  is talking anything but the book is to be naive to how politics works.

30 years of mere bell ringing ring a bell?

Belltway insider ring a bell? Lindbergh (Sr. and Jr.) ring a bell? McFadden ring a bell? Trafficante ring a bell?

Sure Ron paul is ringing the bell.

With a cotton hammer it seems.

ORI

http://aadivaahan.wordpress.com/2011/02/25/wisdom-for-warriors-7/

Wed, 03/02/2011 - 13:28 | 1011807 Confused
Confused's picture

I must say, that I'm quite surprised by your stance on Mr. Paul. Sure he hasn't had the effect that we would all like to see. But then again, he is one man, in the dragons lair. And 30 years of the same message.....seems that he sticks to his convictions. Integrity is lacking in his profession. So its nice to see someone who doesn't sway with the political breeze. 

Wed, 03/02/2011 - 13:49 | 1011903 Rick64
Rick64's picture

  Agree, just the fact that he holds the same view and doesn't flip flop back and forth like the rest of the politicians says a lot. He has been consistent. Rand Paul isn't Ron Paul.

 The Audit the FED bill was introduced because it was a convenient time to do so?  Nonsense.

Wed, 03/02/2011 - 13:54 | 1011941 Oh regional Indian
Oh regional Indian's picture

Confused, I'm just profoundly cynical of all of th elast centuries heroes, and Ron Paul si definitely a carry over.
And I mean Gandhi, King, Kennedy, Mandela...oprah? The whole lot of them. All puppets.

And by the way, in case you raised an eyebrow on Oprah, imagine what she could do if she told her breathless millions the truth about it all. hmmmm?

Sorry, none of these people cut the mustard for me.
ORI

Wed, 03/02/2011 - 11:56 | 1011312 XitSam
XitSam's picture

Ron Paul is there. He had question right after Barney Frank, and before Maxine Waters. His question was how Bernanke defines the dollar. To which Bernanke replied that it was how much stuff people could buy (summarized). See transcript when it come out for exact wording.

Wed, 03/02/2011 - 11:59 | 1011330 SheepDog-One
SheepDog-One's picture

Paul- 'How do you define the dollar'
Bernank- 'Economy has never been better, 0 inflation'

Wed, 03/02/2011 - 12:19 | 1011439 packman
packman's picture

"His question was how Bernanke defines the dollar. To which Bernanke replied that it was how much stuff people could buy"

LOL - would love then to see how he reconciles that statement with a 96% loss of purchasing power since 1900.  Webster would weep at his "definition".

Wed, 03/02/2011 - 11:24 | 1011173 Internet Tough Guy
Internet Tough Guy's picture

DX is dropping.

Wed, 03/02/2011 - 12:49 | 1011606 Chump
Chump's picture

Some folks last night were calling 77 a key point.  Well below that now.  Whaddya think?

Wed, 03/02/2011 - 11:25 | 1011178 TumblingDice
TumblingDice's picture

Inflation is apparently declining...including everything.

Wed, 03/02/2011 - 11:33 | 1011221 whatsinaname
whatsinaname's picture

Does not matter. cnbc touting buffett tool today saying he's not worried about oil prices (and sheeple should just buy stocks since they will be up 5 years from now). Meanwhile dollah tumbles and silvah rumbles.

Wed, 03/02/2011 - 11:43 | 1011264 BobPaulson
BobPaulson's picture

Would you be worried about oil prices if you were stinking rich and were probably on the other side of every trade? It helps to look like a genius when you get a tips on every goddam move about a day beforehand.

Wed, 03/02/2011 - 11:26 | 1011187 iinthesky
iinthesky's picture

The Bernank just said there is no inflation..AT ALL.. Makes me wonder where he shops for groceries cause I want to go to that store and get mine there too.

Wed, 03/02/2011 - 11:26 | 1011196 Confused
Confused's picture

And the rise in price is just relative in value. Did I hear that right? 

Wed, 03/02/2011 - 11:31 | 1011203 depression
depression's picture

correct... higher prices are relative price increases....

Wed, 03/02/2011 - 11:36 | 1011238 SheepDog-One
SheepDog-One's picture

Also, 'higher relative prices' have no effect now since the consumer is doing so well....at least for those not caught up in all-time record high unemployment, bankruptcy, foreclosure, etc.

Wed, 03/02/2011 - 11:58 | 1011331 Oh regional Indian
Oh regional Indian's picture

Hey SD1,

Your absence was noticed and your return welcomed.

ORI

Wed, 03/02/2011 - 12:05 | 1011361 SheepDog-One
SheepDog-One's picture

Oh thanks ORI! Wasnt really gone just been real busy for a week or so, but been around.

Wed, 03/02/2011 - 12:40 | 1011549 UninterestedObserver
UninterestedObserver's picture

When money is free there is no inflation - his statement is relative to his and his banker masters situation. 

Wed, 03/02/2011 - 13:25 | 1011793 AnAnonymous
AnAnonymous's picture

Makes me wonder where he shops for groceries cause I want to go to that store and get mine there too.

 

Mr.Bernanke's personal expenditures are billed on the QE program. Dont expect him to feel the effects of his policies.

Wed, 03/02/2011 - 11:27 | 1011189 Pants McPants
Pants McPants's picture

Barney Frank makes me laugh.  He's on par with my boss in ability to articulate their thoughts.  Sigh....

Wed, 03/02/2011 - 12:05 | 1011354 mtomato2
mtomato2's picture

"Pants McPants"

Best name on Zero Hedge award.

Wed, 03/02/2011 - 11:26 | 1011191 bugs_
bugs_'s picture

If your extension lasts longer than two weeks please call a Doctor.

Wed, 03/02/2011 - 11:27 | 1011194 depression
depression's picture

"High Oil and Gasoline prices reflect relative price increases but do not indicate inflation."

Wed, 03/02/2011 - 11:27 | 1011198 Confused
Confused's picture

Yes! I thought I heard that. Thanks. 

Wed, 03/02/2011 - 11:40 | 1011252 BobPaulson
BobPaulson's picture

You can't make this sh!t up man. Put Marcel Marceau out there, he'd be better. Tooooo funny.

 

tinyurl.com/4pd455s

Wed, 03/02/2011 - 11:29 | 1011199 Bastiat
Bastiat's picture

Gold and silver making new highs two days in a row while the Bernanke testifies:  http://goo.gl/JVk6b

Wed, 03/02/2011 - 14:08 | 1012025 Hearst
Hearst's picture

True.  And if I remember correctly this is usually almost always the opposite.  In the past Gold and Silver would always get hammered on days Bernake reports to congress.

Wed, 03/02/2011 - 11:30 | 1011206 youngman
youngman's picture

I wish Frank would ask the question.." Do you think I should go to jail"?.....lol

Wed, 03/02/2011 - 11:30 | 1011207 Eireann go Brach
Eireann go Brach's picture

Team America..half these guys are reading questions from notepads and actually don't know what they are actually asking, that is why Bernanke is talking over them. I think you are an idiot if you don't think Ron Paul would ask more indept questions to Bernanke that will bring out his infamous stutter and quivering lip and actually explain what is really going on via QE2 etc. These conferences are useless unless someone asks the tough questions and calls this man out for what he is doing!

Wed, 03/02/2011 - 11:43 | 1011262 TeamAmerica
TeamAmerica's picture

1) Try placing your reply under my comment - as a courtesy to the other readers

2) I agree - Ron Paul is likely to ask "indept" questions, LOL.

There is a difference between asking hard questions and working an agenda.   Ron Paul is due credit for being clear as to his intention to destroy the Fed (and pretty much bring down the USA as a consequence, but never mind the inconvenient details).  Having a person like that asking questions is not likely to produce an enlightening response.

Wed, 03/02/2011 - 11:57 | 1011317 Pants McPants
Pants McPants's picture

Let's be honest: both sides are reading from carefully prepared scripts designed to keep the ponzi going.  It's a well-choreographed dance with something for everyone within the manipulated political sphere.

I honestly don't know whether or not Ron Paul is different.  His honesty and steadfast devotion to sound money places him above his DC peers.  He has no equal.  Whether or not he can dissolve the central bank remains to be seen - but there is no doubting Paul's ability to bring the message to a broader audience.

The cheapshot in your post, TeamAmerica, is actually non sequitir.  You see, Ron Paul proposes a solution to the crisis.  He never endorsed the actions that brought us to this juncture.  Blaming him and those who support Paul's ideas for the fallout caused by the implosion of the ponzi scheme would be like blaming the rehab doctor for pain associated with withdrawal.

Nice try, but I aint buyin' it.

Wed, 03/02/2011 - 14:45 | 1012175 TeamAmerica
TeamAmerica's picture

Withdrawal is painful, but the patient doesn't die.   By all means, let Dr. Ron Paul explain how he can unravel the Federal Reserve without killing the patient.   I've heard his spiel, and I'm not buying it...neither the need to do it, nor the means.

 

Wed, 03/02/2011 - 12:11 | 1011389 XitSam
XitSam's picture

America went for decades without a central bank. Could you explain how ending the Fed would bring down the USA? Do you mean a central bank is required of a country in the modern age? Or that flipping a switch and ending the Federal Reserve would cause chaos? Would a currency board be a sufficient replacement for the Fed? If Congress changed one or both of the Fed's "mandates", would that produce a similar chaos?

Wed, 03/02/2011 - 12:24 | 1011461 UninterestedObserver
UninterestedObserver's picture

LOL you're a douchebag

Wed, 03/02/2011 - 13:31 | 1011822 Confused
Confused's picture

How does destroying the fed bring down the USA? Please do not spare the details. 

Wed, 03/02/2011 - 14:58 | 1012208 TeamAmerica
TeamAmerica's picture

If that's not obvious to you, I suggest ECON101 for a starter.  The details involve the impracticality of a barter economy and/or using large stones wheels as currency.   And do spare me any rant about gold-backed currencies...a study of history will reveal the problems with that (see William Jennings Bryan's "Cross of Gold" speech for an impassioned discourse).

Yeah...I'm pretty much a ZH heretic.

Wed, 03/02/2011 - 11:31 | 1011208 thechainrule
thechainrule's picture

if you're having inflation problems I feel bad for you yuan, I got 99 problems and inflation aint one.

Wed, 03/02/2011 - 11:30 | 1011212 RobotTrader
RobotTrader's picture

After Bernanke gets "junked" by Congress today, he'll probably stage a "Midnight Massacre" in the commodity space in order to rally stocks back up.

He's famous for pulling off these "King Ben Re-Coronation" rallies the day after he's heckled off the podium.

LOL....

Wed, 03/02/2011 - 11:39 | 1011250 Internet Tough Guy
Internet Tough Guy's picture

Looks like oil topped today. OIH and XLE both smoked
RobotTrader - Tue, Mar 1, 2011 - 04:34 PM

Straight down all day, smoked right into the closing bell.

Wed, 03/02/2011 - 13:58 | 1011961 tmosley
tmosley's picture

lol, Robo is never going to be able to post again without people rubbing his smug face in all of his absolutely wrong calls.

All these idiots are starting to blur together.

Wed, 03/02/2011 - 11:34 | 1011223 SheepDog-One
SheepDog-One's picture

Wait, what do they mean 'Should The Bernank engage in more stock and bond buying'...isnt that what the ChairSatan promised he'd NEVER do and directly against the law in fact considered treason to monetize the debt?
Take them all out and have a hanging party on the mall.

Wed, 03/02/2011 - 11:34 | 1011227 cxl9
cxl9's picture

"Congressman Frank, if I don't buy the bonds, then where do you think you'll get the money to buy the votes that keep you in office, you useless, corrupt, cocksucking windbag?"

Wed, 03/02/2011 - 12:07 | 1011375 mtomato2
mtomato2's picture

Funny.  Usually "Cocksucker" is just a euphemism!

Wed, 03/02/2011 - 12:12 | 1011403 XitSam
XitSam's picture

LOL.  Can a fact be used as an insult?

Wed, 03/02/2011 - 11:37 | 1011228 ABCStore
ABCStore's picture

 

"Expectations for inflation are to stay... to stay low"

"...on-going recovery..."

"...low interest rates stimulate spending..."

"...we are, indeed, transparent and accountable..."

ABC

Wed, 03/02/2011 - 11:38 | 1011240 BobPaulson
BobPaulson's picture

The Globe and Mail (Canadian MSM) just published a graph showing the top five kleptocrats but I didn't see Ben on there.

tinyurl.com/4zurcg9

Wed, 03/02/2011 - 11:44 | 1011263 Dr. Porkchop
Dr. Porkchop's picture

The Military Industrial Complex - the greatest keynesian entitlement program ever conceived.

Wed, 03/02/2011 - 11:54 | 1011304 anony
anony's picture

It's certainly up there, but I think the greatest entitlement programs are unbeknowst to us.  Who really knows what the seculars are up to, the money they can create at will and who they give it to, to save them from their mistakes.

That's what the importance is in achieving power, the ability to fuck up so badly that any normal man would likely shoot himself in the mouth with a .50 magnum handgun, but only makes these animals take pride in their guilt.

With these sociopathic narcissists, they have surrounded (and surround) a group that they have gained entry to by hook and crook to make themselves and their amigos impervious to the law, our pitchforks, and their own maggot-infested consciousness.

Wed, 03/02/2011 - 11:48 | 1011269 Exposer of Inte...
Exposer of Internet Shills's picture

Bernake and Barney the Fag BOTH will give you "The Shaft"

Wed, 03/02/2011 - 11:51 | 1011270 Caviar Emptor
Caviar Emptor's picture

Breaking: 2 US soldiers shot and killed at Frankfurt Airport. Kosovo man arrested

Wed, 03/02/2011 - 11:47 | 1011272 somethingelse
somethingelse's picture

finally....Ron Paul in the same room with Bernanke     c'mon Dr. Paul give him the hard questions instead of the softball ones by the others...

Wed, 03/02/2011 - 11:56 | 1011316 SheepDog-One
SheepDog-One's picture

Total snoozer. Paul whined a bit, Bernank dodged, and time is over. Alrighty then!

Wed, 03/02/2011 - 11:49 | 1011277 suteibu
suteibu's picture

Too damn funny.  CNBS goes to commercial as soon as Paul starts his questioning.

Wed, 03/02/2011 - 11:52 | 1011292 SheepDog-One
SheepDog-One's picture

Well it was no big deal, Paul whined a bit about the 'dollar definition', Bernanke said 'all is well, better n ever', and that was the end of it.

Wed, 03/02/2011 - 11:50 | 1011280 depression
depression's picture

Paul: "Inflation is exploding, Deficits are exploding... Unemployment is well over 10% today... Its a total failure..."

Bernank: "Our mandate is price stability. Consumers don't want to buy gold, they want to buy food and clothes and homes... Prices are stable and inflation is below 2%..."

Wed, 03/02/2011 - 11:55 | 1011307 SheepDog-One
SheepDog-One's picture

Yea I heard that, it was surreal to hear that assclown Bernank announce 'consumers dont want gold, they want to buy stocks', lol.

Wed, 03/02/2011 - 12:21 | 1011449 UninterestedObserver
UninterestedObserver's picture

Yes prices are stable as long as you ignore food,clothing,housing and fuel

Wed, 03/02/2011 - 11:51 | 1011290 iinthesky
iinthesky's picture

HAH! Oh No He Didnt! Ron Paul just asked The Bernank to define a dollar and since when is a dollar=federal reserve note  .. I love this guy! Of course he just avoids the question entirely.. I dont know why they let Bernank do that. Ron Paul is the only one who has a clue.

Wed, 03/02/2011 - 11:53 | 1011300 SheepDog-One
SheepDog-One's picture

Yea but totaly ineffective of course, Ron Paul should say that the BS ends today, stop monetizing the debt and destroying the currency. The charade continues unabated.

Wed, 03/02/2011 - 12:08 | 1011379 dexter_morgan
dexter_morgan's picture

++

Wed, 03/02/2011 - 11:52 | 1011294 Seasmoke
Seasmoke's picture

they couldnt wait until the time was up for Paul

Wed, 03/02/2011 - 11:52 | 1011297 somethingelse
somethingelse's picture

Ron Paul is the only one in the room who brings a strong dose of reality to the dialogue

Wed, 03/02/2011 - 14:44 | 1012171 AZSovreign
AZSovreign's picture

Ron Paul had his chance right there!!  and he did ...... NOTHING!!!!!!!!!

 

Ron Paul is controlled opposition!

Wed, 03/02/2011 - 12:21 | 1011309 Spalding_Smailes
Spalding_Smailes's picture

 

Ben should ask them .... When does this dollar crash start , next week or in 40 -50 years or never ???? All the bond issuance below in 2011, after the dollar / credit implosion.

 

European sovereign, supranational and agency borrowers may not fulfil any of the above criteria, but, since the beginning of the year, they have been just as eager to come to the US as an earlier generation of immigrants. A mountain of dollar debt has been sold by such credits in the past four weeks, some of them issuing under the 144a format for the first time.
Ukraine's Oschadbank Plans Roadshow For Dollar Benchmark Bond

 

"LONDON -(Dow Jones)- Ukraine's Oschadbank, also known as JSC State Savings Bank of Ukraine, has hired bookrunners and lined up a roadshow next week for an expected dollar-denominated benchmark bond issue, one of the banks leading the deal said Friday."

HONG KONG (Dow Jones)--Chinese developer Hopson Development Holdings Ltd. (0754.HK) said Monday it plans to issue U.S. dollar-denominated senior notes and has hired UBS AG as the sole bookrunner for the proposed issue.

The Hong Kong-listed company said the amount, coupon and tenor of the proposed bond issue have yet to be determined.

Hopson added it intends to use the proceeds from the issue to boost its working capital and for general corporate purposes.

 

Russian Railways will sell sterling debt to upgrade network Russian Railways plans to raise at least £1bn with a sterling bond issue as Russia's state-owned rail operator looks to raise money to finance the upgrade of its network ahead of the World Cup in 2018.

 

Russian Railways sold its first dollar-denominated bond last year, raising $1.5bn (£924m), as well as borrowing a further Rb30bn in the domestic rouble bond market.

 

ZAGREB, Feb 18 (Reuters) - Croatia will tap international debt markets, not the local market, in the first quarter as it seeks to refinance a 10-year Eurobond, a government source said on Friday.

The government is preparing to borrow funds next month to refinance a 750 million euro ($1.02 billion) bond that matures on March 14.

'In the first quarter there is no plan at the moment to issue a local bond issue, but to seek funds abroad,' said the source, who asked not to be named.

 

South Africa will sell 30-year bonds in dollars, the longest-dated debt it has offered on international markets, a person familiar with the offering said.

The bond may price today at a yield about 190 basis points, or 1.9 percentage points, more than the equivalent U.S. Treasuries, said the person, who declined to be identified because the terms haven’t been set. Citigroup Inc. and Deutsche Bank AG are managing the sale, the person said.

Mitsubishi Corporation decided today to issue U.S. Dollar denominated unsecured straight bonds subject to the conditions listed below. The company issued U.S. Dollar denominated unsecured straight bonds back in September 2010 to diversify funding sources; however, the intent on this occasion is to issue the Further bonds that will form a single series with the original bonds (*) in order to increase name recognition of Mitsubishi Corporation in foreign bonds markets.

Wed, 03/02/2011 - 14:00 | 1011984 tmosley
tmosley's picture

Cut and paste some more to pass the time while you wait for loads that will never come.

Unless you're talking about the guys behind the local 7-11, of course.

Wed, 03/02/2011 - 11:58 | 1011319 pleseus
pleseus's picture

CNBC abrubtly cut to a break when before Ron Paul started to speak. CNBC is nothing more that propoganda for our government.

Wed, 03/02/2011 - 12:07 | 1011369 Rudeger
Rudeger's picture

YES I DID!! Fucking lapdogs douchbags!!

Wed, 03/02/2011 - 11:57 | 1011321 digalert
digalert's picture

Frank: "Mr. Bernanksatan, how can we make banks give home loans to the unemployed/part-time or your average WalMart greeter?"

Wed, 03/02/2011 - 11:59 | 1011327 buzzsaw99
buzzsaw99's picture

Frank talks like a fag, not that there's anything wrong with that.

Wed, 03/02/2011 - 12:04 | 1011349 takeaction
takeaction's picture

Well....he is a fag.  Frank is openly gay.  He sounds like he still has the "Balls" from last night in his mouth.

Wed, 03/02/2011 - 12:08 | 1011373 dexter_morgan
dexter_morgan's picture

+

Wed, 03/02/2011 - 12:10 | 1011384 mtomato2
mtomato2's picture

LOL.

"not that there is anything wrong with that..."

Good stuff.

Wed, 03/02/2011 - 12:24 | 1011467 JS1234
JS1234's picture

And his shit's all retarded.

Wed, 03/02/2011 - 11:58 | 1011334 AN0NYM0US
AN0NYM0US's picture

OT/   and far more entertaining then what is going on in the center ring

 

 

Leading Republican claims Barack Obama grew up in Kenya

http://www.telegraph.co.uk/news/worldnews/barackobama/8356132/Leading-Re...

Wed, 03/02/2011 - 12:04 | 1011347 iinthesky
iinthesky's picture

He always dodges questions he doesnt want to answer and they never hold him to it. I love RP but he is ineffectual in these hearings because the rest of these morons want their time on camera and don't act as a unit. If RP asks a question and the next guy says, uhmm i'd like you to address the previous question point by point I believe The Bernank would soil himself almost immediately.

Wed, 03/02/2011 - 12:05 | 1011363 takeaction
takeaction's picture

Agree 100%.  RP is a lone voice yelling into a hurricane.  And nowbody around him hears him....or they don't want to hear him becasue this is just a dog and pony show.

Wed, 03/02/2011 - 12:27 | 1011471 AndrewJackson
AndrewJackson's picture

This is why I want Ron Paul to get more fight in him during these hearings. He needs to come out swinging and ask Bernanke about ouright collapse, QE to infinite, double digit interest rates, hyperinflation, and the end game for kicking our problems down the road for such an incredibly long time. Still love ron though. Without him, I would be a stupid mindless sheep right now.

Wed, 03/02/2011 - 12:04 | 1011358 iinthesky
iinthesky's picture

By the way... for all of you watching on CNBC-- just go here to avoid being assaulted with retarded nonsense:

http://financialservices.house.gov/Hearings/

 

Wed, 03/02/2011 - 12:31 | 1011365 depression
depression's picture

Bernank on inflation:

"I am very attentive to inflation..."

"I dont see any evidence of a move away from the US dollar as the reserve currency. I dont see any shift away from the dollar. The dollar has not moved much at all. Commodity price increases are not a dollar phenomenon."

"Overall Inflation is 1.2%. Higher gasoline prices do not feed into that. Higher oil prices reflect higher demand outside the US."

"In 2008 inflation rose with the run up in commodity prices and then inflation went negative for a short period late in 2008 when commodity prices fell."

"We will not allow inflation to get above nominal levels.... this is the job of the Fed... Monetary policy determines inflation."

Wed, 03/02/2011 - 12:06 | 1011368 DonnieD
DonnieD's picture

Please take Barney Franks picture off this page. It's making me sick.

Wed, 03/02/2011 - 12:12 | 1011401 John McCloy
John McCloy's picture

In Bernanke's own words: " What we do is push investors into things like stocks..if you noticed the stock market is up"

Wed, 03/02/2011 - 12:16 | 1011423 Dr. Porkchop
Dr. Porkchop's picture

Germany has recovered because it is a trade oriented economy...that's telling.

Yes, because they haven't completely gutted their industrial sector and replaced it with financial ponzinomics.

Wed, 03/02/2011 - 12:19 | 1011433 UninterestedObserver
UninterestedObserver's picture

The fact that Fwank get re elected proves that MA deserves to get swallowed up in a sinkhole

Wed, 03/02/2011 - 12:29 | 1011482 JS1234
JS1234's picture

If you look at the election results you'll see that he lost in more towns than he won.  The thing is, he has a weirdly distributed district: the high population towns in his district are on one end the limosime liberals who vote for him because he's gay, and on the other the very poor who vote for him because he promises them free stuff.  The middle class all vote against him.  Redistricting would put an end to him.

Wed, 03/02/2011 - 14:01 | 1011986 New_Meat
New_Meat's picture

Us Massholes invented Gerrymandering.  Good news is that we are losing a district/congress critter in '12.  Bielat made the old lag break into a sweat, but after Scott Brown, the unions got out the vote.  There was some thought of collapsing Bawney's district, but he's getting frisky, attempting to change the marijuana laws, and has declared that he will run in '12.

Maybe we can bag yet another House Speaker as they rework their racist gerrymandering in the soon to be redistricted Commonwealth.

- Ned

Wed, 03/02/2011 - 12:32 | 1011505 luk427
luk427's picture

I would like to see Bernanke in front of a real world panael. Marc Faber, Peter Schiff, Jim Rogers, Gerald Celente, Then I would watch CNBC. The lip quiver would be something to see. 

Wed, 03/02/2011 - 12:40 | 1011550 iinthesky
iinthesky's picture

Mr. Watt is a f*king idiot

Wed, 03/02/2011 - 12:44 | 1011537 baby_BLYTHE
baby_BLYTHE's picture

This shit's not worth it, folks.

Bernanke saved us, alright?

Double-Dip isn't cuming... I am sorry.

The doom was fun while it lasted. The past few yers have been great prepping, buying PMs, stocking ammunition and studying Austrian economics.

IF we pulled liquity and raised interest rates sharply... we would be SMACK dead in the middle of a crushing Depression with run-away unemployment worse than the 1930s.

Thanks to all the economic blogs, I missed out on a doubling of the S&P while I was sitting on the side-lines with a finger up my butt reading the doom on all these blogs.

NONE OF THIS IS GOOD FOR ANYONE's HEALTH. it doesn't translate into anything but alcoholism, destruction of your social life and massive loss of interest in the other aspects of one's life.

Ron Paul isn't going to do anything.

I no longer believe "The FED will end itself".

Probably going to sell my PM collection to buy coke and hookers (DEAD SERIOUS). Nothing has meaning.

I AM DONE WITH THE COLLAPSE

http://www.youtube.com/watch?v=QWIenEil1fc

Wed, 03/02/2011 - 12:41 | 1011551 OMG
OMG's picture

This lying psychopath is being interrogated (staged) by other psychopaths (given questions to ask in advance) to create the illusion that all is well. The CB held by the two competing blood lines that in all history has funded both sides of all wars ever fought on this planet main objective is to deceive and steal. The miscreants will stop at nothing to be in power & to stay in power. We (you & I) are living in an illusion created by these evil Satan worshipping bastards. They are marching the planet toward a One World Government for the final battle between good & evil.

 

The other bastards (levying the made up questions) are content to get the few crumbs that are brushed off of the table of the competing blood lines and they are held in check from the past mistakes taking the offerings of the Satan worshipping fucks that are currently running the show. These people are hand selected to be our leaders and they are not selected by us (voters) that is just another part of the staged props that you see.

Wed, 03/02/2011 - 12:49 | 1011600 Lord Peter Pipsqueak
Lord Peter Pipsqueak's picture

Either we have got it all wrong here on ZH, or those fawning, gutless cocksuckers,complimenting Bernanke on what a great job he is doing under very difficult circumstances need to be reminded at election time what is really going on.

I just can't watch anymore.

Wed, 03/02/2011 - 12:56 | 1011635 baby_BLYTHE
baby_BLYTHE's picture

yeah, Bernanke is a tool.

After him and his goy boy Alan sh*t 25 trillion out of thir butts they cannot seem to find it in their hearts to 'print' a bit to help out the states.

Since a recovery is taking place before our very eyes, ears, noses and throats... you would think a few billion would help to stabalize the pension systems until tax revenue picks up.

Wed, 03/02/2011 - 13:00 | 1011665 luk427
luk427's picture

Can silver break $35.00 during the Bernanke pump Oil, Gold,Silver telethon. 

Wed, 03/02/2011 - 13:04 | 1011679 Atomizer
Atomizer's picture

It will, be patient.

Wed, 03/02/2011 - 13:00 | 1011666 Shylockracy
Shylockracy's picture

Yenta and Chairsatan presenting a seinfeldian show about nothing.

Wed, 03/02/2011 - 13:15 | 1011723 Threeggg
Threeggg's picture

I have been watching this for 27:24 minutes and I am waiting to see who takes the money shot on the face.

I wish they had a remote cam under the tables to see who's hands are on which members.

This is a dog and pony show and have a feeling when the Bernank closes his mouth, the markets are going to go "Wack"

What a joke !

Wed, 03/02/2011 - 13:17 | 1011740 buzzsaw99
buzzsaw99's picture

from bloomberg:

Federal Reserve Chairman Ben S. Bernanke didn’t rule out expanding the central bank’s asset purchases aimed at stimulating the economy, saying he doesn’t want to see the economy relapse into recession.

Asked at a House Financial Services Committee hearing today what conditions would warrant a third round of so-called quantitative easing, Bernanke said that “what we’d like to see is a sustainable recovery. We don’t want to see the economy falling back into a double dip or to a stall-out.”

Wed, 03/02/2011 - 13:19 | 1011746 alnitak
alnitak's picture

This shows that Spain has lied as much as or even more than Greece in its Gov Accountancy. The real Spanish deficit figure in 2008 was 20.000 million euro higher than the official figures. That is to say almost double as published. This is a piece of news that is shown today on data published by the Spanish  Gov Accountancy Watchdog

 http://www.eleconomista.es/economia/noticias/2869893/03/11/El-Tribunal-de-Cuentas-revela-un-deficit-oculto-de-20000-millones-en-2008.html

A much higher budget deficit than originally planned and recognized, 
exceeding the ceiling of expenditure approved by Parliament and the negative deviation
in fulfilling the objective of stability established, are the main 
irregularities complained of the Court of Auditors in its Declaration on the Account 
Estadoen2008 general. 

A report presented today at the Congress president's watchdog 
State, Manuel Núñez, and which states verbatim that "in the initial forecast 
a negative outturn of € 9.552 million, the Account has a 
negative result of 50.502 million, having produced, therefore, a deviation 
40,950 million unfavorable global. " 

A deficit of 50.502 million representing 4.6 percent of GDP this year and beyond 
also at 20,000 million euros to 30,500 million officially recognized by the 
Government in the Economy Ministry's report on Budget Execution 
State in 2008. 

In its day, Economy said most of the deficit Public lasAdministraciones 
that year "was due to the negative result of 30,500 million euros, 2.8% of GDP 
registered by the Central Administration, as well as enmenormedida by the dearth of 
Autonomous Communities, which has been of 16.992 million euros and the negative balance 
5,230 million euros in its accounts closed Quehen Local Governments. " 

Budgetary slippage 
But back alTribunal of Auditors, the report under discussion today in the Joint Commission 
Congress-Senate reflects that, after analyzing the items affecting this deviation 
budget notes that "revenue, other than transactions in assets 
financial missed the original estimates, while spending in all 
Components of a net budget obligations have been recognized 
higher than budgeted, being the most important deviation of expenditure 
transactions in financial assets (16,551,000), due to measures to stimulate 
of the economy and employment adopted at the end of 2008. " 

By subsector, the deviations have been favorable for the system entities 
Social Security (3.957 million) and other public bodies (82 million), while 
were unfavorable to the State (43685000) and autonomous state 
(1,687 million).

Wed, 03/02/2011 - 13:44 | 1011883 AnAnonymous
AnAnonymous's picture

At least, if confirmed, they did not lie on small numbers.

In this US driven world, dont think big. Think bigger.

Wed, 03/02/2011 - 13:38 | 1011864 jimijon
jimijon's picture

No worries people... Apple will announce the new iPad2 today!

cheers

Wed, 03/02/2011 - 13:41 | 1011875 razorthin
razorthin's picture

Market hanging on by the skin of it's teeth.  May it be starting to believe that QE has lost it's teeth?  Breakdown or ramp up coming.  Probably the latter.

Wed, 03/02/2011 - 13:42 | 1011880 uneducated minion
uneducated minion's picture

Been sightseeing for a while now, 1st post.. cherry popped...

What can I say.. been tuning in to what's happening, only over the last 3 months.  Had no clue before that..but have been researching at least 6hrs a day since.  Before, I simply stayed on the wheel like a good hamster...chasin' the carrot.  Yes sir, No sir...blah blah blah... spoonfed the lies.  It's been such an awakening.

I watched about 3min of this.. it's such a bunch of BS.  Everything I see from the MSM, which is very little lately...I actually curse at the TV.  You certainly see, more and more, through putting pieces together, just how bad we've been played.  Very sad. 

Knowing what I know now, and watching Bernanke (I have other names for him and his buddies)... I laughed, cursed, had a heavy heart...

But the best by far, is I feel liberated, in a sense.  I know, I know...I'm still a slave.  It goes beyond these clowns, down really deep.  Constitution cast aside and all..  And yeah, I feel raped, lied to, ripped off as well...but hey, most of us are in the same boat.  So in a sick sort of way, I gain comfort from that.

I now have direction.. I now understand why all the questions I've asked over the last 2 years, the "why", the "how", the "wtf????" ...even though I knew nothing about any of it at the time, other than what I was fed digitally... the questions didn't seem to have answers.  Well, none you'd ever hear or see on tv...

Anyway, just wanted to say thanks to all that contribute here... the good, the bad, the trolls.. whatever. 

THANK YOU.  You've given a dumbass HS dropout a little bit of hope...

Which I'm sure they'll squash.. but not without a fight!

FUCK'EM!!!

 

Be Well.

 

Wed, 03/02/2011 - 13:54 | 1011938 Rule of 72
Rule of 72's picture

Barney Frank questioning The Bernank.  A black hole for the truth.  Everything true just gets sucked into that vortex.

Barney Frank's district has to be the dumbest district in the country.  All over YouTube with the statements for expanding "affordable housing" (thus enabling the banksters and the financial meltdown), and they re-elect this clown.  America, what a country.

Wed, 03/02/2011 - 13:55 | 1011942 Rule of 72
Rule of 72's picture

Barney Frank questioning The Bernank.  A black hole for the truth.  Everything true just gets sucked into that vortex.

Barney Frank's district has to be the dumbest district in the country.  All over YouTube with the statements for expanding "affordable housing" (thus enabling the banksters and the financial meltdown), and they re-elect this clown.  America, what a country.

Do NOT follow this link or you will be banned from the site!