This page has been archived and commenting is disabled.

Bernanke Says That Any Criticism Of The Federal Reserve Is Based On “Misconceptions”

ilene's picture





 

Nice summary of facts pertaining Federal Reserve's ongoing failures. Michael didn't mention the Fed's unauthorized "mandate" to keep stock prices up. But I guess Bernanke thinks he's done a good job with that. Although why the Fed, or even the government, should be involved with that "free market" manifestation of price discovery is beyond me. (I suppose one could argue that higher stock prices helps saves jobs??) ~ Ilene

Bernanke Says That Any Criticism Of The Federal Reserve Is Based On “Misconceptions”

Courtesy of Michael Snyder of Economy Collapse

Federal Reserve Chairman Ben Bernanke is taking his show on the road in at attempt to help Americans feel better about the Federal Reserve.  During a visit to the Fort Bliss headquarters of the Army’s 1st Armored Division this week, Bernanke held a town hall meeting during which he took questions from some of the soldiers.  Bernanke tried to sound as compassionate as possible as he assured the soldiers that the Federal Reserve is looking out for the American people and is doing everything that it can to help create jobs. 

At one point, Bernanke even made the following statement: "For a lot of people, I know, it doesn't feel like the recession ever ended."  That probably helped a lot of people feel better.  A few probably even had a good cry.  But what Bernanke did not explain to the troops is that the Federal Reserve is very much responsible for the fact that unemployment is rampant, for the fact that the U.S. dollar is rapidly being devalued and for the fact that we have accumulated the largest national debt in the history of the world.

Ben Bernanke keeps insisting that the Federal Reserve has two main jobs (fighting inflation and keeping unemployment low) and that it is working incredibly hard to accomplish that dual mandate.  During his visit with the soldiers he told them that the Fed is very determined to create more jobs for the American people....

"We at the Federal Reserve have been focusing intently on supporting job creation."

Well, if we are to judge the Federal Reserve by how well it has accomplished its "dual mandate", then the Federal Reserve has been an abysmal failure.

Since the Federal Reserve was created, the U.S. dollar has lost well over 95 percent of its value to inflation.

Is that something Bernanke should be proud of?

Of course not.

Okay, so the Fed has failed when it comes to keeping inflation under control.

What about jobs?

Well, the first decade of this century was the worst decade for job creation that the United States has seen since the Great Depression.

The sad truth is that a total of zero jobs were created last decade.  The following is a quote from a recent article in Washington Monthly....

"If any single number captures the state of the American economy over the last decade, it is zero. That was the net gain in jobs between 1999 and 2009—nada, nil, zip. By painful contrast, from the 1940s through the 1990s, recessions came and went, but no decade ended without at least a 20 percent increase in the number of jobs."

So what kind of a grade should we give the Federal Reserve for the job that it has done?

How about a big fat F?

The Federal Reserve has been a failure of epic proportions.  It greatly contributed to the Great Depression (even Bernanke admits this), it created the conditions for the financial bubbles that greatly contributed to the financial crisis of 2008, and it has brought us to the verge of yet another gigantic financial crisis.

But Ben Bernanke believes that all of us that are criticizing the Fed are just ignorant.  He thinks that we just don't understand the Fed properly.  During a recent question and answer session, Bernanke stated the following....

"I think that the concerns about the Fed are based on misconceptions"

Oh, if only the rest of us understood how the Fed works and how they really care about the American people.  Then everything would be okay.

Not.

During that same session, Bernanke insisted that the Federal Reserve only has the purest motives....

"Our motives are strictly to do what is in the best interest of the broad public and I believe that our efforts to stabilize the financial system, which were ultimately proved successful, were very much in the interest of the broad public"

According to Bernanke, those that work at the Fed are unselfish guardians of our monetary system who are fighting for truth, justice and the American way of life.

Okay, perhaps I am exaggerating just a bit, but you get the point.

Bernanke is trying very hard to convince all of us that the Federal Reserve is just misunderstood and that we should just trust what the "experts" are doing.

So what will the plan be if the financial crisis in Europe blows up?

Well, during his visit to Fort Bliss one of the soldiers actually asked him about that.  The following is his answer....

"Although the Fed would obviously do all that we could to maintain stability and to keep monetary policy as easy as necessary to try to minimize the damage, I don't think we would be able to escape the consequences of a blow-up in Europe"

Oh, he would keep monetary policy "as easy as necessary".

Isn't that lovely - I bet that will be great for the value of the U.S. dollar.

Bernanke also told the soldiers that he believes that happy days are ahead for the U.S. economy....

"I do believe we will return to a healthier growth rate. I don’t see any reason why we couldn’t"

So we should just trust Bernanke, right?

He has never been wrong before, right?

Well, let's check the record....

In 2005, Bernanke said that we shouldn't worry because housing prices had never declined on a nationwide basis before and he said that he believed that the U.S. would continue to experience close to "full employment"....

"We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though."

In 2005, Bernanke also said that he believed that derivatives were perfectly safe and posed no danger to financial markets....

"With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."

In 2006, Bernanke said that housing prices would probably keep rising....

"Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."

In 2007, Bernanke insisted that there was not a problem with subprime mortgages....

"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."

In 2008, Bernanke said that a recession was not coming....

"The Federal Reserve is not currently forecasting a recession."

few months before Fannie Mae and Freddie Mac collapsed, Bernanke insisted that they were totally secure....

"The GSEs are adequately capitalized. They are in no danger of failing."

For many more examples that demonstrate the absolutely nightmarish track record of Federal Reserve Chairman Ben Bernanke, please see the following articles....

*"Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry"

*"Is Ben Bernanke A Liar, A Lunatic Or Is He Just Completely And Totally Incompetent?"

But after being wrong over and over and over, Barack Obama still nominated Ben Bernanke for another term as Chairman of the Fed. It is hard to put how stupid that was into words.

Look, if someone wrecked your car again and again would you keep handing that person your keys?

Bernanke made another statement during his visit with the troops this week that was really bizarre....

"The Federal Reserve is not perfect ... but at this point, if you look around the world, you see no alternative"

He has got to be kidding, right?

Of course there are no other alternatives for us to look at!  Only a handful of nations on earth do not have a central bank at this point.  Iran, North Korea and a handful of others don't have a central bank dominated by the international banking community but basically everyone else does.

Just because nearly every nation on earth has a central bank does not mean that there are not alternatives to the Federal Reserve system. I detailed a plan the other day that would transition us away from the Federal Reserve system. It most certainly can be done.

But right now, most of our politicians are standing up for a system that allows private central bankers to spend trillions of dollars bailing out their friends while the rest of us suffer.

The other day, an article by U.S. Senator Bernie Sanders appeared in the Huffington Post that detailed what was learned during a very limited audit of transactions conducted by the Federal Reserve during the recent financial crisis.

According to Senator Sanders, the Federal Reserve made 16 trillion dollars in secret loans to big corporations, Wall Street banks, foreign nations and wealthy individuals during the financial crisis....

"...we learned that the Federal Reserve provided a jaw-dropping $16 trillion in total financial assistance to every major financial institution in the country as well as a number of corporations, wealthy individuals and central banks throughout the world."

Senator Sanders also says that the audit revealed that many of those running the Fed are from the same institutions that the Fed has been bailing out....

"The GAO also revealed that many of the people who serve as directors of the 12 Federal Reserve Banks come from the exact same financial institutions that the Fed is in charge of regulating. Further, the GAO found that at least 18 current and former Fed board members were affiliated with banks and companies that received emergency loans from the Federal Reserve during the financial crisis."

Wait - isn't there a huge conflict of interest problem there?

Of course there is.

But neither major political party is making a stink about it. Sadly, Senator Sanders says that the audit found that there was "instance after instance" where individuals used their positions at the Fed to benefit their own firms....

"The GAO has detailed instance after instance of top executives of corporations and financial institutions using their influence as Federal Reserve directors to financially benefit their firms, and, in at least one instance, themselves."

Wow - you would think that this scandal would have been reported on the front page of every major newspaper from coast to coast. But that didn't happen. Both major political parties continue to insist that there is nothing wrong with the Federal Reserve and that the Fed is doing a wonderful job.

It really is sickening.

Look, we need to educate the American people about the Federal Reserve and we need to make control over our currency a major issue in the 2012 campaign.

The American people should demand that the issuing of all United States currency be immediately returned to Congress as the U.S. Constitution requires.

The American people should demand that no more debt-based Federal Reserve Notes be issued and that from now on only debt-free United States money be issued.

The Federal Reserve has a track record of nearly 100 years of failure. It is time for it to be shut down.

The choice, America, is up to you. 

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sat, 11/12/2011 - 09:57 | Link to Comment Mr. Lucky
Mr. Lucky's picture

Ineptocracy (in-ep-toc'-ra-cy) - A system of government where the least capable to lead are elected by the least capable of achieving, and where the members of society least likely to succeed or even to sustain themselves, are abundantly rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Sat, 11/12/2011 - 09:36 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

speaking to his New Clone army..Ben is showing he leads the Military they are his tools.

but the Army has many who see him for the usurper he is

the elite will infiltrate the Armed Forces to unleash them on America

I have never met a homosexual or Lesbian who did not support the elite for they are the ones protecting the deviates from the normals

connect the dots

a one eyed man in the land of the blind

Sat, 11/12/2011 - 06:38 | Link to Comment NuYawkFrankie
NuYawkFrankie's picture

"MIsconceptions" - ahhh.... so it all boils down to being "misunderstood".

Seems like a "last refuge" play - as any 5-year-old will attest.

Sat, 11/12/2011 - 06:06 | Link to Comment geekgrrl
geekgrrl's picture

Bernanke doesn't seem to be a very good liar. I have to wonder at what point the US military and police will start to understand that there are indeed domestic terrorists in this country, but they wear suits and work in banks.

The other thing, and I find this truly remarkable, is that the linkage between central bankers and military/wars is usually kept out of the public eye. Yet here we have the head puppet-boy for the banking cartel speaking directly to what it no doubt considers to be its personal and private army. After all, without massive Fed lending, either the military goes poof, or all domestic spending stops and there is an all-out civil war. The Fed has the US military by the short hairs, and Bernanke is reminding them who pays the bills by the visit itself.

To my mind, this is evidence that TPTB are running scared and the more they try to use PR, propaganda, and Jedi mind tricks, the more it will blow up in their faces as confidence in the status quo is in an unstoppable death-spiral. Just like you can't fix a debt problem with more debt, you can't fill a credibility gap with more bullshit.

David Rosenberg is right, in my view: political changes are coming (I think from the efforts of OWS) that will completely change the realm of possibilities that TPTB don't want us to think about. Things like the fact that we don't need them.

Sat, 11/12/2011 - 05:53 | Link to Comment Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...what evil creature, his hour now born, shuffles its way toward Jerusalem

Sat, 11/12/2011 - 05:26 | Link to Comment AE911Truth
AE911Truth's picture

Think of the insanity that our money is created by bankers out of thin air as debt. So we collectively work very hard to earn money just to pay Trillions in interest to bankers, who in turn do nothing to earn this money, but offer only an entry in a balance ledger in consideration for this money. This is not fair and equal consideration in contract law, so these contracts are invalid. Bankers have corrupted Government with vast illegal profits, so our Governments are in collusion with the bankers in support of this crime against the People. Governments believe they have the legal right to use lethal force to enforce this scam against the People, however, the Magna Carta and U. S. Constitution are clear that Sovereign power rests solely with the People. Our Inalienable Rights include life, liberty, and the pursuit of happiness, and the right to abolish Government when it becomes detrimental to these Rights. It is the right of the People to abolish detrimental Government and to establish new Government which in the view of the People is most likely to protect our rights.
The current Government and economic system is irreparably corrupt. The only peaceful means to abolish it is to not participate. Without our participation, the system will fail. We can then build new Governments and economy which serves the Sovereign People of the world.

Sat, 11/12/2011 - 05:17 | Link to Comment Hephasteus
Hephasteus's picture

How did the speech end. Take your guns and shoot these misconceivers?

Sat, 11/12/2011 - 02:31 | Link to Comment AurorusBorealus
AurorusBorealus's picture

Does anyone wonder why Bernanke chose to speak to the military?  He has shown his hand.  He is not the fool many take him for.  He continues to exploit and support the system, just as his masters demand, but he knows the game is up and probably has for some time.  Much will ride on whose side the military comes down in the days ahead.  The same conniving sycophantic skills he employed to rise through the system, he now uses to try hold the military's allegiance to the status quo (and to him personally).  For the status quo to hold in America through the days ahead, the military must remain loyal.  However, the military's loyality must be purchased, and Bernanke bucks may not get the job down, no matter how cozy he gets with men in uniform.  

Sat, 11/12/2011 - 10:33 | Link to Comment taxpayer102
taxpayer102's picture

@AurorusBorealus

Bernanke chose this particular time to speak to the military because veterans, especially those from multiple tours in Iraq and Afghanistan can't find jobs that pay as much or have the benefits they had in the military.  Couple this with an increasing number of active duty and retired veterans becoming enlightened that "somebody" or "forces" are working to bring the country down.  Truth about the Fed and international bankers is slowly getting to those in the military, they are still holding back, honoring their oath while also fearing loss of their job and benefits.  One of the Chairsatan's comments at Fort Bliss :

"The economy is still far from where we'd like it to be," said Bernanke. "We're trying to gain more stability and get the economy slowly towards a full-employment, stable situation and that's taking time. And many of you are impatient and worried, and I fully understand that."

http://www.army.mil/article/69225/

 

 

Sat, 11/12/2011 - 16:10 | Link to Comment AurorusBorealus
AurorusBorealus's picture

I think as civil disorder grows the preference will be to keep as much of the military overseas as possible.  This fits with the current delusion of empire, deployment of assets, and need to protect the vital oil supply line.  The federal government would prefer to stay out of the fray for as long as possible, relying on local para-military police departments to shoulder the burden of insurrection suppression.  They lack the unit cohesion and professionalism of active-duty military.  In this way, thuggish or brutish behavior while suppressing insurrection can be portrayed as a local problem and not a cause for nation-wide mass civil insurection: divide and suppress.  The problem arises when armed militias in rural areas begin objecting to the status quo.  Many of these militia members are retired military, ready-reservists, and even active-duty national guardsman.  They would easily overcome local para-military police in an armed standoff.  Here is where the loyalties of active duty full-time military members will be tested.

The important thing to keep in mind is that we will see insurrection on a broad scale.  Elites and systems, such as the ancien regime in France, do not fall without great calamity.  Our current financial / banker run economy is nothing less than ancien regime / aristocracy of the 18th century.

Sat, 11/12/2011 - 01:52 | Link to Comment bill1102inf
bill1102inf's picture

Fuck you, and Fuck the fraudulent FED.

 

END THE FED BITCHEZ!

Sat, 11/12/2011 - 01:24 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

I'm speechless and I wish he was too.

Sat, 11/12/2011 - 01:21 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

Jimminy Christmas things are fucked up.

Sat, 11/12/2011 - 00:24 | Link to Comment Forgiven
Forgiven's picture

"We at the Federal Reserve have been focusing intently on supporting job creation."

And yet the cabal of morons in the Federal Reserve can't seem to do SHIT about it!  Doesn't that really say more about your capabilities than your words Ben?!  I think it's time you guys disband for the good of what remains.

Sat, 11/12/2011 - 00:16 | Link to Comment the grateful un...
the grateful unemployed's picture

speaking as a veteran the premise of Bernanke speaking to the troops only brings to mind a remake of Apocalypse Now with Bernanke replacing the Playboy Bunnies. once the LUST is aroused the helicopters take off with the booty. oh well in the remake of the original one of the guy acutally nailed a bunnie, but this time, hmmm.

Sat, 11/12/2011 - 00:07 | Link to Comment honestann
honestann's picture

Bernanke is ALWAYS wrong because he is ALWAYS setting the majority up to be fleeced by the predators-that-be and predator-class, many of whom are the banksters who own and control the federal reserve.

Fri, 11/11/2011 - 23:08 | Link to Comment TideFighter
TideFighter's picture

The Martha Stewart Act.

Fri, 11/11/2011 - 22:39 | Link to Comment Eireann go Brach
Eireann go Brach's picture

What's funny is, reading some of the quotes attributed to Jefferson who was a great man! Imagine the quotes that will be attributed to Obamas presidency..."I gave food stamps to the most people in history" or... "My rock during the 4 years of my presidency was my Teleprompter"..

Fri, 11/11/2011 - 22:35 | Link to Comment Element
Element's picture

Yeah, we've got a warning for you too Beni-bitch:
 
 
http://www.youtube.com/watch?feature=player_detailpage&v=mauCY9JM0J8
 
 
Stand Up - The Angels
 
 
Got to make a move now
its so hard to run in place
Slippin' further from the race
People pushin' by you
And the trials sent to try you
Is it all too much to face
Bridges are burnin'
Just another warnin'

It might be time to stand up, stand up
Stand up

Promises are easy
You swallow every word
Just be sure of who you serve
Listen to the warnin'
All your bridges are burnin'
Don't have to wait in line to stand up, stand up
Stand up, stand up
Why dont you stand u-u-hu-up, Owwww

Why don't you stand up
Got to make a move now-ow
Its so hard to run in place
Slippin further from the race
I dont like it
All your bridges are burnin'
Its not just another warnin'

Don't have to wait in line to, stand up, stand up
Say why don't you stand up, stand up
Why don't you stand up - stand up
Why don't you stand u-u-hu-u-up

http://www.youtube.com/watch?feature=player_detailpage&v=yv4S63D81pE

Fri, 11/11/2011 - 21:40 | Link to Comment lunaticfringe
lunaticfringe's picture

The FED mentions that it made 82 billion last year, yet only returned 79 billion to the U.S. Treasury. I am not so concerned with that as I am about what happened to the missing 3 billion? Do they skim off 3 billion each year? Where does that go? Just who pockets that measly 3 billion? Anyone?

Fri, 11/11/2011 - 21:24 | Link to Comment Mark123
Mark123's picture

Can someone please refresh my memory....was there a thing called the "American Revolution"?  I was sure there was a while back, but I must be wrong.

Fri, 11/11/2011 - 21:19 | Link to Comment Mark123
Mark123's picture

Most wife beaters would also say that any criticism is a misconception.

 

C,mon Benny, let's have make-up sex baby.

Fri, 11/11/2011 - 21:11 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Bahhhh Bahhhh Bahhhhh, the stupid fucking sheeple dont care, all they worry about is how many Khardashian sisters have been gang banged by the NBA animals!

Fri, 11/11/2011 - 21:06 | Link to Comment lolmao500
lolmao500's picture

The actual goal of the FED should be 0% inflation or even a little deflation. A politic of ``slow inflation`` means their policy is openly ``stealing your money``.

Abolish the fed and hang the Keynesians.

Fri, 11/11/2011 - 20:45 | Link to Comment Coldfire
Coldfire's picture

Bermonkey would say that. Obviously the opposite is true. If anything, criticisms of the Fed are punchpullingly mild. Let's not forget that with enough rope the Fed will end up hanging itself. It's happening now so we should actually be of good cheer until that happy day when the whole rotten edifice and its primary stealers implode. Manila hemp, bitchez.

Fri, 11/11/2011 - 20:38 | Link to Comment AE911Truth
AE911Truth's picture

A Currency to Retire Debt, and Another for Savers

Two new and very different types of currencies have been introduced as bills into congress recently. These are aimed at resolving multiple related problems with our existing money system. The bills are:

HR 2990 - the National Emergency Employment Defense(NEED) Act of 2011 http://kucinich.house.gov/UploadedFiles/NEED_Act_FINAL_112th.pdf and

HR 4248 Free Competition in Currency Act of 2009, http://www.govtrack.us/congress/bill.xpd?bill=h111-4248
Or the pdf
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills...

Taken together these create an environment that looks a lot like what FOFOA describes as FreeGold.
http://fofoa.blogspot.com/2008/10/freegold-is-not-solution-it-is-only.html

The first currency, described in HR 2990 is created without debt. In fact it enables us to retire the national debt, fund currently unfunded entitlement liabilities, fund indebted states and municipalities, and more. This currency does away with the need for the Federal Reserve and the IRS, since money is created by congress there is no need to tax. Since the FED was created 99 years ago the world has transferred to the owners of the FED an enormous amount of wealth. Why?

HR 2990 is a currency designed to retire debt. This is not a currency for savers.

The second currency, described in HR 4248 is for savers. The Free Competition in Currency Act enables savers to preserve their wealth in gold and silver without capital gains or transaction tax. It is designed to protect your savings from the effects of creating too much of the first currency. They work together as a pair. The first currency enables debtors to get out of debt without incurring more debt in the process; a never ending debacle of which we are now in the endgame. The second currency enables savers to preserve their wealth in gold and silver.

If this sounds a lot like how FOFOA describes FreeGold, it is. It would be useful to critique this combination of a transactional currency and a savers currency. Who knows this pair of competing currencies may offer both savers and debtors what they need.

Fri, 11/11/2011 - 23:44 | Link to Comment traderjoe
traderjoe's picture

Great links Thx. I encourage everyone to read the applicable sections of HR 2990. It reads as a fantastic indictment of our private debt money system.

Fri, 11/11/2011 - 23:11 | Link to Comment Sean7k
Sean7k's picture

The solution has always been there: eliminate legal tender laws. We don't need a saver's currency or a retire the debt currency, we need to eliminate legal tender laws. Then, we can decide for ourselves what currency is or isn't.

Fri, 11/11/2011 - 21:22 | Link to Comment jimmyjames
jimmyjames's picture

The first currency, described in HR 2990 is created without debt. In fact it enables us to retire the national debt, fund currently unfunded entitlement liabilities, fund indebted states and municipalities, and more.

***********

I'm not opposed to some form of debt free money-but we have to understand that the present debt owed to foreigners is owed in USD's-

I suppose it could be hyper-inflated to collapse if they demanded USD's but the problem with floating currencies is that the market sets the value and not the country issuing money-

The other concern is-why would any foreign country trade assets eg: Oil for paper to a country that changed the currency in mid-stride-

Trust and perception is all that any fiat currency has in order to hold its trading weight-

 

Sat, 11/12/2011 - 00:00 | Link to Comment traderjoe
traderjoe's picture

The United States Note was a USD.

Fri, 11/11/2011 - 19:27 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

“Every government is run by liars,” independent journalist I.F. Stone observed, “and nothing they say should be believed.”

The same can be said for central bankers/wankers as in:

"The last duty of a central banker is to tell the public the truth." ?–Federal Reserve Board Vice Chairman Alan Blinder, Nightly Business Report, 1994

Fri, 11/11/2011 - 22:01 | Link to Comment PiranhaEatingGo...
PiranhaEatingGoldfish's picture

"I never trust a banker and I never let a banker go!"       -Judge Alvin Valkenheiser (Nothing but Trouble (1991))

 

Now these are words to live by. Talk about a missed opportunity! Banker Ben was in the midst of the very people who are supposedly charged with the defense of our nation from enemies, both foreign AND DOMESTIC, and yet they let him walk out, free as a bird.

I don't care what you believe about 9/11 as far as who was REALLY responsible. The fact is that this man and Timmeh are far more dangerous to this country today than Osama bin Laden, Saddam Hussein, Kim Jong Il and Mahmoud Ahmadinejad together in a room full of WMD's. Because while these 4 men were, or still are, vocal in their extreme dislike of the government of this country (most never felt ill will toward average everday people on the street, but hatred for the government was never up for question), at least with them you are aware of their position. Whereas with Banker Ben and the rest or the FED terror cell, they are planning the destruction of the country that will reap the most benefit for them and their cronies within the walls of the garrison they are planning to destroy!

Sorry, but the troops missed the opportunity to preform a REAL AMERICAN DUTY and were mislead by the smoke and mirrors! Maybe David Copperfiled is Banker Ben's PR manager!

Fri, 11/11/2011 - 22:42 | Link to Comment stu11
stu11's picture

Like most of America, our service personell are ignorant victims.  They foolishly believe in their corrupt command bureaucracy that is directed by even more corrupt politicians who answer to New York bankers who, with tax payer dollars courtesy of the FED and Treasury, purchased through campaign contributions the Executive, Legeslative, and Judicial branches of our government.  Our military sadly fights and dies for corporations in now meaningless wars while freedom has been usurped here at home.  Bernanke and Geithner are criminals and liars who, along with the banking cartels, steal the freedom that these soldiers swore to protect.  At a time when America really needs heros, our military personell allow themselves to be distracted so far from the real front lines. 

Sat, 11/12/2011 - 03:16 | Link to Comment PiranhaEatingGo...
PiranhaEatingGoldfish's picture

This is so dreadfully and absolutely true! But a day will come when this will change. It happened in Egypt. It happened in Tunisia. More and more of the people charged with putting down the rebellion, guarding the gates and protecting those who issue orders realized that they were in fact aiding the very criminals that they were sworn to root out and stop! It will happen here when more and more police and military members realize they are fighting their neighbors, children's friends and workers they see in their communities. It will happen when they realize they are fighting these people that are part of their everyday lives on behalf of people who's lives they will never experience. People will not long fight for those who vacation in other countries when leaving their state is almost too expensive. People will not long fight for the right of a person to raid corporate funds for a 4th, 5th or 6th house, when they cannot even afford their first.

Be patient America. It will happen!

Fri, 11/11/2011 - 19:25 | Link to Comment e_goldstein
e_goldstein's picture

 


"Our motives are strictly to do what is in the best interest of the broad public..."

 


then step down.


 

 

Fri, 11/11/2011 - 22:03 | Link to Comment PiranhaEatingGo...
PiranhaEatingGoldfish's picture

Of course by "Broad public" they mean those with broad influence, broad tracts of land and broad power. So by stepping down they would in fact only be serving the narrow public interests!

Fri, 11/11/2011 - 19:22 | Link to Comment dcb
dcb's picture

words can not describe how disgusted I am. the dog and pony show.

I learned to hate the federal reserve on my own after extensive reading and research. not by reading some blog, the more I read the worse it gets. Now you will get someone good every now and then (hoenig) who has been proven right over time. The people running the show now are plain and simple sociopaths who either, can't, won't, or are too stupid to see the holes in their logic and how outdated it is. As an Md I would say it's as if they never earned the germ theory of disease and were practicing something from years ago.

 

I came to the independet conclusion, after much work they are the tools of the bankers. this guy and greenspan had their jobs because of their endless free cash for the markets philosophy. maybe bernanke thinks he is doing good, heck I have met killers who think they are just doing a service by putting people out of the misery.

 

They use an ideology that is broken. Volker wasn't bad. over all we as a society would be better off without them. the other thing I find intersting is these guy only ever talk monetary policy, it's as if they forget to mention their regulatory failures.  the only thing and defender ever talks about is monetary policy, and they never mention regulatory failures.

You gotta bring in someone who can say the institution fucked up. since bernanke is mainly (along with greenspan) the cause of those fuck ups, he will never admit them, and never change. the goal of someone in that position is to cover up, not fix. think the olympus camera thing going on now. those there at the time were motivated to cover up their screw ups, and it was a normal part of the culture. it took and outsider to say something funny was going on.

Fri, 11/11/2011 - 19:19 | Link to Comment steelrules
steelrules's picture

Hey Ben,

The dollar buys 2 cents worth, there's no misconception in that.

Fri, 11/11/2011 - 18:54 | Link to Comment Manny
Manny's picture

If only we had an involved citizenry which was not ignorant!

Fri, 11/11/2011 - 18:37 | Link to Comment AGuy
AGuy's picture

"We at the Federal Reserve have been focusing intently on supporting job creation."

That's Great news Ben! So what's the official date the the Federal reserve is closings it doors forever?

 

 

Sat, 11/12/2011 - 09:13 | Link to Comment dcb
dcb's picture

he means we are hiring a lot of new people at the fed to keep scrwing you!!

Fri, 11/11/2011 - 18:12 | Link to Comment The Deleuzian
The Deleuzian's picture

Finally Ilene...Are you on board?!

Fri, 11/11/2011 - 18:12 | Link to Comment hidingfromhelis
hidingfromhelis's picture

Misconceptions?  There ya go, bringing your and your ilks' parents into the discussion.

Sorry, I misunderestimated the extend that this misfit and his merry band of miscreants could mis-allocate and mis-direct when what they should be missing is the view of anything but a cinderblock wall and closely spaced metal bars.  Did I misconstrue anything in your misleading remarks?

Fri, 11/11/2011 - 18:07 | Link to Comment Zenseless
Zenseless's picture

He will sneak away quietly into the night when the damage is nearly complete, following the blueprint of his predecessor.  His successor will then end with his head on the end of sharp stick. And so it goes.

Fri, 11/11/2011 - 18:03 | Link to Comment Careless Whisper
Careless Whisper's picture

During a visit to the Fort Bliss headquarters of the Army’s 1st Armored Division this week, Bernanke held a town hall meeting during which he took questions from some of the soldiers.

 

Someone approved this and I think We The People have a right to know who. 

Fri, 11/11/2011 - 22:47 | Link to Comment stu11
stu11's picture

Sorry CW, your "rights" for such things are gone.

Fri, 11/11/2011 - 17:56 | Link to Comment Pitchman
Pitchman's picture

When most people masturbate they have the good sense to do it in private.

Why do the American people stand by a CENTRAL BANK; the Federal Reserve? It is owned by the banks themselves charging us interest on every dollar in circulation. The Founding Fathers fought the revolution to free us from this model of DEBT SLAVERY ECONOMICS! Their clear intent, as set forth in the Constitution was; the nations currency is to be issued by the government with no interest attached? The governments issuance of currency is the very definition of sovereignty. To do otherwise is to relinquish our rights as a free people. Is it any wonder we find ourselves where we are today? END THE FED - Inflection Point

 
Occupy The FED & Withdraw Your Money From TBTF Banks  
Elite Money Power And The Central Bank: Life Is But A MEME  
END THE FED: THE FIRST STEP IN RESTORING OUR CONSTITUTIONAL REPUBLIC  
Anonymous Shines A Light On The Hypocrisy Of Our Leaders - The OccupyWallStreet movement and its original message.  
Chris Hedges: On Civil Disobedience & What Is Capitalism

 

 

Fri, 11/11/2011 - 22:25 | Link to Comment Pitchman
Pitchman's picture

Did you read the article?  A FRIEND OF A FRIEND of a hotel employee SAID: I saw BOZO the Clown wanking off.  Do you really believe that?  The piece only discredits the piece of *^(& that wrote it.

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