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Kaminsky: "Bernanke Is Now A Kamikaze Pilot"

Tyler Durden's picture


In a little under four minutes, CNBC's Gary Kaminsky provides a voice of reason amid the 'Gold-and-Bonds-are-in-a-bubble-but-Apple-is-awesome' meme. Reflecting on some of the mind-blowingly crazy statistics of this market's recent inexorable rise, central bank balance sheet eruptions, and valuations; Kaminsky (an ex-PM as opposed to 'reporter') provides six clarifying words: "We know this will end ugly!" From the lack of credibility of any Fed exit, to the explosion of the monetary base, Gary moves back and forth from Japan as an ever-more-obvious template for our path past the Keynesian endpoint. Finally, he concludes that: "Bernanke is a kamikaze pilot... experimenting [in monetary policy] and is destined to fail."



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Mon, 09/24/2012 - 11:57 | 2824541 EscapeKey
EscapeKey's picture

Kamikaze pilots usually don't have passengers.

Mon, 09/24/2012 - 12:02 | 2824572 slaughterer
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Mon, 09/24/2012 - 12:11 | 2824601 Pegasus Muse
Pegasus Muse's picture

How did that happen?  Truth spoken on CNBC?!

Must have been a Disturbance in the Force.

Mon, 09/24/2012 - 12:15 | 2824621 Stackers
Stackers's picture


Mon, 09/24/2012 - 13:13 | 2824884 NotApplicable
NotApplicable's picture

But does he have 9/11 accuracy?

Mon, 09/24/2012 - 13:18 | 2824906 DaveyJones
DaveyJones's picture

I don't know, did he fail his Cessna training course?

Mon, 09/24/2012 - 18:25 | 2826018 AldousHuxley
AldousHuxley's picture

there is no proof for anything except relative truth.


you are all just part of a grand experiment called "capitalism" where rich get all of the power, glory, and money.

Mon, 09/24/2012 - 18:35 | 2826043 JPM Hater001
JPM Hater001's picture

He forgot to mention Bernanke was a douche bag too.

Big fan of complete disclosure.

Carry on.

Mon, 09/24/2012 - 23:28 | 2826876 TwoShortPlanks
TwoShortPlanks's picture

Nothing like being suicided...Seppuku[-ed] by a trillion paper cuts

Tue, 09/25/2012 - 04:10 | 2827106 Ar-Pharazôn
Ar-Pharazôn's picture

cotton!!! cotton!!!! COTTOOOOOOOOOOOOOOOOOON!!!!! :P

Mon, 09/24/2012 - 13:16 | 2824899 JuliaS
JuliaS's picture


Mon, 09/24/2012 - 12:24 | 2824634 Landotfree
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There is absolutely nothing Benny can do to save the system from collapsing, I don't know why you guys keep focusing on him and the Fed.  The Fed's job is simple, convince you guys (lemmings) into believing the helicopters are coming to save the system.   Benny is not there to stop the collapse, he is just there to prolong the coming collapse as long as possible as it's impossible to stop the collapse from happening... as Benny would need unlimited power to stop it.  

There is absolutely no truth on CNBC, everyone is running from the Truth.  Masses amounts of unfunded liabilities are going to have to go, the unfunded liabilities do not like the final conclusion to using the equation.  

Blaming Benny is not going to solve the problem, nothing he can do other than to help the system reach max potential before the collapse.  This is not an experiment, as the outcome has always been known.   The Fed and Benny are doing what they have been hired to do... assist the system into reaching max potential before the eventual collapse.  

Mon, 09/24/2012 - 12:32 | 2824690 kridkrid
kridkrid's picture

I agree with that. However, while he should not be blamed for the collapse itself, he's clearly complicit in the lie. I almost wrote "coverup", but that implies something a little different. There wasn't some sort of criminal activity in the middle of a properly functioning system. The system itself is a lie.

Mon, 09/24/2012 - 12:54 | 2824786 Uchtdorf
Uchtdorf's picture

Right, and many of us here are not lemmings.

Mon, 09/24/2012 - 17:11 | 2825791's picture

When life gives you lemmings make lemming aid.

Mon, 09/24/2012 - 23:34 | 2826884 TwoShortPlanks
TwoShortPlanks's picture

Speak for yourself...I'll take being a Lemming over a Gerbil any day.

Mon, 09/24/2012 - 13:24 | 2824918 Landotfree
Landotfree's picture

All the lemmings are involved in criminal activity, if you are saying lying in a crime.   The lemmings have not given up or the system would have already collapsed.   Denial is the most predictable human reaction.  

The system is not a lie, the system is pure Truth, built upon simple Math.  Humans denying the Truth is a lie, the Truth always wins the war although it may lose countless battles along the way.  

There is nothing Ben could do, the system will collapse a good portion of the unfunded liabilities will have to be wiped from the books, my guess 1-3 billion.   If nukes are used instead of the manufactured Hilter-type, 100% of the unfunded liabilities could be wiped from the books.   All I see is 7 billion unfunded liabilities trying pass the blame, their certainly is no fix unless the fix is clearing the unfunded liabilities from the balance sheet.  

"There wasn't some sort of criminal activity in the middle of a properly functioning system."

Sorry a properly functioning system will only be "properly function" for X amount of time, usually a generation or 60-70 years (generally).  The exponential growth needed to sustain the unsustainable becomes too much.   That is the lie, that is the lie you are trying to tell me.   What you consider the Truth is actually lie, yet you are telling me they are criminals for telling lies.   I would include you in with them.

Mon, 09/24/2012 - 13:41 | 2825024 Darth Rayne
Darth Rayne's picture

Very well put Landotfree.

In the UK the 'value' of houses doubled from 2000 - 2004. I hassled averybody about this not being good. I couldn't say why, as I did not know.

In June 2012, again I wanted to know what was happening. I researched. I reached my own conclusion.

(Either exponential growth is sustainable for ever or it isn't.)

Again, few people want to know.

I was a lemming for 43 years. Now I am a knowledgable lemming and everyone in my life believes me to be utterly wrong.

The Lemmings believe everything is OK, I wish I did.

(I own physical gold.)


Mon, 09/24/2012 - 13:47 | 2825046 kridkrid
kridkrid's picture

You used to post here under a different name, I think. If so, welcome back. I think we agree, mostly. Semantics might be a little off. The thing itself is not the lie, I suppose, what it is projected to be is. And yes, the hive mind shares in the guilt, my mind shares in the guilt. But there is lots of work done to bury the truth, don't you think. I don't think we all share equal blame.

Mon, 09/24/2012 - 13:54 | 2825085 akak
akak's picture


Mon, 09/24/2012 - 13:58 | 2825105 kridkrid
kridkrid's picture


Mon, 09/24/2012 - 17:14 | 2825803's picture

He was great in The Sand Pebbles.

Mon, 09/24/2012 - 14:07 | 2825131 JuliaS
JuliaS's picture

Bernanke and the congress only do what we let them get away with.

If you had a printing press in your basement, you ran it a few times, went out and spent money and no one did anything to you, you'd sure as hell keep running it. If you went over the limit on your credit card for 80+ times and the bank kept raising the limit, would you ever have the incentive to start paying off the balance?

So far the bansk and the congress suffered nothing. They've seen nothing but monetary rewards.

The biggest regret Paulson (the former secretary of treasury) probably has is asking for measely $700b, when it's been trillions of dollars going down the drain since then without as much as a squeak.

Mon, 09/24/2012 - 16:31 | 2825658 marathonman
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"So far the bansk (sic) and the congress suffered nothing.  They've seen nothing but monetary rewards."  Bingo.  The beauty of the central bank is that there is no government program too big to fail.  The central bank just keeps buying the bonds, the money supply inflates, asset prices go up, the lemmings pay more for their stuff, Congress critters have more power, bankers have more power, and it all keeps going until KABOOM.  Either the debt overwhelms the sovereign and you get the sovereign debt crisis and default or you get the Misean crack up boom where everyone dumps the currency before it looses even more value until it becomes completely worthless.  Or the lemmings can no longer afford to live and they storm the Bastille and start cutting off heads.  The system goes until it can't.  We'll see which collapse scenario happens first.

Mon, 09/24/2012 - 17:53 | 2825939 ChacoFunFact
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Don't forget, there is no inflation check box on your 1040 to let the irs know your new found realized capital gain in gold was due to the dollar devaluing, not the actual gold going up!  they'll get this deficit under control as soon as qe3 trickles down to joe plumber.

Tue, 09/25/2012 - 04:11 | 2827108 Ar-Pharazôn
Ar-Pharazôn's picture

he has more than 1 option.

he can resign and tell in a press conference that he cant do nothing to fix the problems.

and that would be really smart from him.

The problem is that he's a PUPPET of TPTB. end of the story

Mon, 09/24/2012 - 12:20 | 2824644 azzhatter
azzhatter's picture

Has Kaminsky been fired yet?

Mon, 09/24/2012 - 14:27 | 2825217 Winston Churchill
Winston Churchill's picture


Fixed it for you.

Mon, 09/24/2012 - 12:19 | 2824637 kridkrid
kridkrid's picture


Mon, 09/24/2012 - 12:22 | 2824651 Stoploss
Stoploss's picture

No, Kamikaze planes don't have passengers.

Our plane has a Kamikaze pilot..

There is a difference.


Mon, 09/24/2012 - 12:26 | 2824669 Landotfree
Landotfree's picture

Once the plane runs out of fuel nothing the pilot can do other than to put his head between his legs like everyone else.   

This plane took off before Benny was even born.

Mon, 09/24/2012 - 13:41 | 2825018 rfaze
rfaze's picture

We now know what the people on United flight 93 felt like..... 

Mon, 09/24/2012 - 16:12 | 2825597 rfaze
rfaze's picture

What ....To soon?

Mon, 09/24/2012 - 12:29 | 2824683 BandGap
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But they were usually hopped up on methamphetamines washed down with sake. 

Truly a one way trip.

Mon, 09/24/2012 - 12:40 | 2824718 slaughterer
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OT: but today's tape looks like it did not receive any QE3

Mon, 09/24/2012 - 12:44 | 2824745 VyseLegendaire
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Most upvoted comment in the histort of ZH? Let's make this a try!

Mon, 09/24/2012 - 13:16 | 2824896 DaveyJones
DaveyJones's picture

Can we put him in an internment camp?

Mon, 09/24/2012 - 14:58 | 2825305 sbenard
sbenard's picture

Great point!

I keep saying that Bernanke is a teenager with a chemistry set that won't stop playing until he blows up the house! And WE are all his guinea pigs!

Mon, 09/24/2012 - 16:30 | 2825656 ToNYC
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"In the Church of Good Citizens, the children are tortured until the first lie." -Paul (Marlon Brando) in Last Tango in Paris (1972)

You buy, you fly.

Mon, 09/24/2012 - 11:57 | 2824545 NoTTD
NoTTD's picture


Mon, 09/24/2012 - 11:58 | 2824551 NoTTD
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Also: Gold, Bitchez!

Mon, 09/24/2012 - 11:59 | 2824562 EscapeKey
EscapeKey's picture

What do miniature trees have to do with it?

Mon, 09/24/2012 - 12:10 | 2824598 Flakmeister
Flakmeister's picture

In all fairness, he could be referring to the Banzai Bonsai.... You know, those scrubby little pines that spontaneously throw themselves into chipper to pulp themselves...

Mon, 09/24/2012 - 12:34 | 2824704 kridkrid
kridkrid's picture

How very sad.

Mon, 09/24/2012 - 12:21 | 2824609 Dead Canary
Dead Canary's picture

Ok. Give me your address. I'm going to come over there and slap you.

Mon, 09/24/2012 - 12:51 | 2824778 NoTTD
NoTTD's picture

Frankly, it wasn't worth the effort to look up.

Mon, 09/24/2012 - 13:12 | 2824853 akak
akak's picture


What do miniature trees have to do with it?

Let's leave Paulie Krugman and Robert Reich out of this, OK?

Mon, 09/24/2012 - 13:11 | 2824858 akak
akak's picture

(ZH glitch --- not my fault!)

Mon, 09/24/2012 - 13:20 | 2824917 DaveyJones
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they're an abstract model and human plaything that have nothing to do with nature? 

Mon, 09/24/2012 - 11:57 | 2824547 qussl3
qussl3's picture

It's all a matter of perspective.


Destined to fail the middle class.


But enrich his employers.

Mon, 09/24/2012 - 12:07 | 2824587 LMAOLORI
LMAOLORI's picture




Speaking of employer's I would still like to know WHO caused the crash? I am not talking about Lehman and Primary Reserve but WHO ACTUALLY started the run right before the election?

Wall Street’s Collapse to Be Mystery Forever: Jonathan Weil


To get to the heart of what went wrong with the report released yesterday by the Financial Crisis Inquiry Commission, check out its account on page 254 of how the largest investor in a cash fund managed by Bank of America suddenly pulled out $20 billion of its money in November 2007.

The withdrawal crippled the fund, which had $40 billion of assets at its peak, forcing Bank of America to step in and prop it up. The commission included a note about the episode in the back of its report.

“The identity of the investor has never been publicly disclosed,” it says. The note then referred readers to the source of the information: A couple of stories published in December 2007 by Bloomberg News and the New York Times.

And here I had thought the purpose of the commission’s inquiry was to uncover new facts that the public didn’t already know. Such as: The identity of the mystery investor that single- handedly kneecapped Bank of America’s Columbia Strategic Cash Portfolio, once the largest cash fund of its kind in the U.S. The commission had subpoena power. It should have been able to get this information. It didn’t, though.

Mon, 09/24/2012 - 12:19 | 2824638 Winston Smith 2009
Winston Smith 2009's picture

Just as with the 9/11 investigation, they don't WANT to officially find the truth of the matter. 

With 9/11, it was the criminal negligence and gross incompetence of government they didn't want to find. 

With the financial crisis, it is the criminal negligence and gross incompetence of government once again combined with criminal activity on the part of those who actually OWN the government, moneyed special interests, that they DON'T want to officially find.

Mon, 09/24/2012 - 12:28 | 2824671 Dr. Engali
Dr. Engali's picture

TPTB don't need to find out the truth,they already know what the truth is. They just don't want the average prole to know the truth.

Mon, 09/24/2012 - 13:06 | 2824864 Winston Smith 2009
Winston Smith 2009's picture

"They just don't want the average prole to know the truth."

That why I specified "officially" as in officially documenting it.

Mon, 09/24/2012 - 13:08 | 2824865 Winston Smith 2009
Winston Smith 2009's picture

Duplicate deleted.

Mon, 09/24/2012 - 12:44 | 2824747 Cthonic
Cthonic's picture

 "The identity of the mystery investor that single- handedly kneecapped Bank of America’s Columbia Strategic Cash Portfolio"

Pretty bad when one client makes up > 50% of the investors. Also, another $8 billion flew the coop before they shut it down. If there weren't any rules against these investors removing their 'cash', how is it a knee-capping?  Had the principals been invested in the underlying securities directly and dumped them, the strategic cash portfolio would have been left in the same position. There was no NAV guarantee on this enhanced cash product.  Caveat vendor.

Mon, 09/24/2012 - 14:07 | 2825146 LMAOLORI
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You have to wonder who that one investor was that had that kind of money or power to make that happen. I have long suspected soro's look what he did to the U.K. and he is tied in with the CIA and he makes money betting against economies. 

The CIA-Soros Partnership

Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming


Mon, 09/24/2012 - 15:35 | 2825454 Cthonic
Cthonic's picture

Perhaps, but this archived bloomberg piece states that, as a class, enhanced cash funds held nearly $850B in assets around that time, and specifically mentions a Florida state government investment pool as having dumped nearly $13B of "SIV debt and other subprime-linked assets" in the prior month, so large divestitures in this space were already occuring.  Additionally, SIV related debt demand had been weak since that August , e.g., the cat was already out of the bag and people/institutions were scrambling to protect themselves from the fallout.  Columbia Management declined to detail what assets were actually held by the fund, "It has some investments in it that have either lost value or are illiquid," however as a division of BoA at the time it was probably chock-full of BoA originated SIV paper...

Mon, 09/24/2012 - 18:58 | 2826153 LMAOLORI
LMAOLORI's picture


Note the first couple paragraphs..

" Dec. 10 (Bloomberg) -- Bank of America Corp. will liquidate a $12 billion cash fund for wealthy clients and institutions, the largest investment of its type to close because of losses tied to the collapse of the subprime-mortgage market.

The fund, Columbia Strategic Cash Portfolio, was sold as an alternative to money-market funds, offering a higher yield by taking more risk. It was the biggest so-called enhanced cash fund, with $33 billion in assets two weeks ago before an investor pulled more than $20 billion, said Peter Crane, founder of Crane Data LLC, the Westborough, Massachusetts-based publisher of the Money Fund Intelligence."

Tue, 09/25/2012 - 04:46 | 2827129 Cthonic
Cthonic's picture

The enhanced cash fund had a minimum investment requirement of $25M, couldn't find any data on the total number of investors (institutional or individual).  According to Towers Watson there were over 140 pension funds and a total of over 300 asset managers with more than $20B AUM.  Don't really know much about Soros, aside from having read his 'Alchemy of Finance' back in high school, and the fact that I don't care much for his politics or modus operandi.  Forbes lists him at #80 with $8.5B net worth in 2007 (and only fifteen billionaires with a net worth in excess of $20B).  A cached finalternatives article from early 2008 ranks Soros Asset Management as #18 among hedge funds with $17B in assets under management (thirteen existing with $20B+).

Mon, 09/24/2012 - 12:16 | 2824623 Stock Tips Inve...
Stock Tips Investment's picture

Obviously the Fed, the ECB also in Europe the BOJ in Japan are threatening the global economy. I can understand that monetary policy intends that the "landing" as smooth as possible. However, to avoid landing tratr is already nonsense. What will happen is that the plane does not land, keep flying ... until it runs out of fuel. At that point, the alternative will be the parachute. Of course, only those who have one.

Mon, 09/24/2012 - 12:01 | 2824568 Junior Prepper
Junior Prepper's picture

I guess the big difference between Bernanke and the average kamikaze pilot is that Bernanke has a golden parachute and a place waiting for him at the financial walhalla feast.

Mon, 09/24/2012 - 12:04 | 2824578 Winston Smith 2009
Winston Smith 2009's picture

Exactly.  And another difference - he's flying OUR freaking plane.

Mon, 09/24/2012 - 12:37 | 2824709 kridkrid
kridkrid's picture

Probably. But I wouldn't be surprised if he takes the fall. He thinks he has a safety net, but who knows.

Mon, 09/24/2012 - 15:40 | 2825476 jmeyer
jmeyer's picture

Bernanke is the point man right now but I think the Fed will take the blame for the failure of politicians since 1913 to manage the economy. Right now only Ron Paul stands up but there will be others when the final bell tolls.

Mon, 09/24/2012 - 12:06 | 2824583 syntaxterror
syntaxterror's picture

Interest rates have been 0% in Japan since 1995. There you have it.

Mon, 09/24/2012 - 13:22 | 2824933 DaveyJones
DaveyJones's picture

and you're right, we now have it.

Mon, 09/24/2012 - 12:07 | 2824585 Sisyphus
Sisyphus's picture

"How does it feel to be a billionaire?"

Mon, 09/24/2012 - 12:07 | 2824588 AnAnonymous
AnAnonymous's picture

Without an objective, everything can be stated a failure.

'Americans' are duplicitous: they wont tell their objectives. See Iraq for one of the last big examples.

Ben Bernanke is a servant to the US middle class.
Bernanke has been toying successfully for years now with inflation. He is a success.

When you run an extortion of the weak, farming of the poor business, it is all about squeezing, not choking.

See how Bernanke is squeezing well the rest of the world without choking it to death so that the US american middle class can retain their comfort.

'Americans' call the other guy the maestro. Bernanke deserves a more laudating nickname.

Mon, 09/24/2012 - 12:55 | 2824807 Schmuck Raker
Schmuck Raker's picture

"Ben Bernanke is a servant to the US middle class."

LOL,'re an idiot....hahahahahaha

Mon, 09/24/2012 - 13:18 | 2824908 Kayman
Kayman's picture

"'re an idiot" No.  Even idiots are embarrassed by AnAnon.

Mon, 09/24/2012 - 13:30 | 2824972 Ancona
Ancona's picture

<sarc off>

There, I fixed it for you.

Mon, 09/24/2012 - 13:24 | 2824942 DaveyJones
DaveyJones's picture

you might want to look up the definition of "servant"

Mon, 09/24/2012 - 14:20 | 2825196 Floodmaster
Floodmaster's picture

Bernanke has been great for Baby Boomers (90 percent of the country’s net worth), housing price-to-income ratio is at 2.8,11% over its historical average and stocks are bernankified (70% of US stockholders are boomers). The boomer Kick-the-Can Party is not finish and They will destroy everything on their way.

Mon, 09/24/2012 - 23:58 | 2826923 Schmuck Raker
Schmuck Raker's picture

OK, look...

"...Baby Boomers (90 percent of the country’s net worth)..." - that has nothing to do with the middle class, necessarily, ie. Ray Dalio is a baby boomer and multi-billionaire...savvy?

Now regarding Houses & Stocks, what will happen as these Middle Class Boomers all start to sell, and they'll have to since their fixed income investments will be returning ZERO+a little green rosetta%, then as they sell the stock prices fall in their what?...their pension funds, that's right.

As for "(70% of US stockholders are boomers)", I'll refer you to the Dalios of the world once again.

BTW, who do you suppose owes most of the consumer debt in the US?

Tue, 09/25/2012 - 05:31 | 2827151 Ar-Pharazôn
Ar-Pharazôn's picture

i cant believe......................................


you sir, you should burn yourself

Mon, 09/24/2012 - 12:09 | 2824595 fuu
fuu's picture

Mayday, not just for communists anymore.

Mon, 09/24/2012 - 12:10 | 2824596 bluedevil
bluedevil's picture

I was looking to comment on this as soon as he said it. Many of us on ZH love to bash CNBC and it is well deserved, however Kaminsky and Santelli are by far the best on the network. Kernan is not bad either and I give him credit for writing a pro capitalism book with his daughter. Kudlow is clearly a republican supply sider and somewhat dismissive of Austrians but I will still watch him. Lastly CNBC does do interviews with Grant, Rogers, Faber, Schiff et al but always manages to be dismissive of their opinions as well and often in a mocking way. I enjoy watching old youtubes of Schiff and the like who were clearly right (this mess was NO black swan). SO just as Kaminsky said, time stamp the video because no one, not even the FED knows how the hell they are going to unwind their balance sheet, hence the Kamikaze comparison. F#$%ing Tragic!!

Mon, 09/24/2012 - 12:23 | 2824660 azzhatter
azzhatter's picture

I mainly hate the constant pumping of the markets. They do have a few good commentators who are treated very condescendingly by the the majority. I watch news to get facts, not some jackoff like Cramer's opinion.

Mon, 09/24/2012 - 12:32 | 2824692 bluedevil
bluedevil's picture

Cramer= mute button.  The biggest fraud on the network.

Mon, 09/24/2012 - 12:56 | 2824826 akak
akak's picture

Listening to that ADD-afflicted crackmonkey stockwhore is the auditory equivalent of drinking syrup of ipecac.

Mon, 09/24/2012 - 13:06 | 2824834 akak
akak's picture

(ZH glitch --- not my fault!)

Mon, 09/24/2012 - 12:34 | 2824703 bluedevil
bluedevil's picture

Cramer= mute button.  The biggest fraud on the network.

as for watching the news to get facts,…uh good luck with that.

Mon, 09/24/2012 - 12:59 | 2824836 Vince Clortho
Vince Clortho's picture

Too bad there is no "Smite" button on the remote.  :>|


Mon, 09/24/2012 - 15:43 | 2825486 jmeyer
jmeyer's picture

It's right next to the 'VOMIT" button.

Mon, 09/24/2012 - 12:10 | 2824597 firstdivision
firstdivision's picture

What does this make Potter, with his constant selling of WTI...well besides an administration puppet?

Mon, 09/24/2012 - 12:12 | 2824605 stant
stant's picture

wheres a gold plated 40 mil bofors mount when you need one

Mon, 09/24/2012 - 12:13 | 2824611 Jason T
Jason T's picture

his analysis lacks depth.  too much analysis lacks depth.

Mon, 09/24/2012 - 12:13 | 2824614 God Bless The V...
God Bless The Virtuous's picture

Fun Fact,

Meth, the scurge drug of the world was invented for the Kamikaze pilots!

The QE stun gun that is Bernanke's manhood, is a Japanese invention!



the republic does NOT survive another 4 years of communist makeover / transformation!

Valerie Jarrett / Frank Marshall Davis / David Axelrod?

Do some research into these three parts of OBUMMERS brain!

Communist through and through!

Or just check out the book,

The Communist by Paul Kengor!


Romney in a landslide!

First act will be FIRE bubble blowin Ben and replace him with RAND PAUL!

Next FIRE tax cheat Timmy and put Ron Paul at Treasury!

God save the republic!

Hat tip to Gary K for having some balls over at C.N.B.CBullshit!

Mon, 09/24/2012 - 12:24 | 2824663 fuu
fuu's picture

"Romney in a landslide!

First act will be FIRE bubble blowin Ben and replace him with RAND PAUL!

Next FIRE tax cheat Timmy and put Ron Paul at Treasury!"

I'll have two of whatever he's smoking...

Mon, 09/24/2012 - 13:19 | 2824916 WillyGroper
WillyGroper's picture

I'll bring the beer.

Mon, 09/24/2012 - 13:08 | 2824866 Race Car Driver
Race Car Driver's picture

I junked ya for being a GOP apparatchik.

Mon, 09/24/2012 - 13:50 | 2825059 laomei
laomei's picture

 I honestly hope Romney wins, he's the president that the us deserves.  Given, Obama's been rather shit, but you got a handful of nice things out of it.  Obviously, you're not ready for nice things... 

Mon, 09/24/2012 - 14:20 | 2825197 fuu
fuu's picture

They hate us for our nice things.

Mon, 09/24/2012 - 18:24 | 2826014 laomei
laomei's picture

If that were true, I can't think of many who would hate America.

Tue, 09/25/2012 - 05:36 | 2827154 Ar-Pharazôn
Ar-Pharazôn's picture

if you dont have something of value to say

if you dont have time to check your sources


Mon, 09/24/2012 - 12:24 | 2824631 Tinky
Tinky's picture

Come to think of it, Kamikazi pilots flew (Mitsubishi) Zeros, and Bernake pilots the dollar's accelerating decent!

Mon, 09/24/2012 - 12:23 | 2824657 Dr. Engali
Dr. Engali's picture

Where in the hell were you four years ago Kaminsky? Many of us here have been saying this from the beginning.

Mon, 09/24/2012 - 12:29 | 2824679 Enceladus
Enceladus's picture

So why didn't Japanese printing cause inflation in Japan?

Mon, 09/24/2012 - 12:41 | 2824722 Kayman
Kayman's picture

So why didn't Japanese printing cause inflation in Japan?

Carrry trade and excess reserves.  Central Banks are there to prop up the banking class, not to get money to the little people.

Mon, 09/24/2012 - 12:44 | 2824743 bluedevil
bluedevil's picture

No velocity, if the public is deleveraging the printed money doesn't recirculate. Printing is for the banks benefit.

Mon, 09/24/2012 - 12:31 | 2824688 Venerability
Venerability's picture

Rant and rave, Gary!

Jump up and down and wave your arms furiously.

Talk loudly and talk fast.

The Short-oriented Hedgies are still wayyyyyyyyy underperforming everybody else in the market.

Personally, I hope they construct a mile-high Wall of Worry, covered with barbed wire and surrounded by a moat with crocodiles, piranha, and possibly fire-breathing dragons.



Mon, 09/24/2012 - 12:32 | 2824691 Hedgetard55
Hedgetard55's picture

By the end of 2014 my two Indian head silver dimes will pay off my mortgage.

Mon, 09/24/2012 - 15:17 | 2825386 Tango in the Blight
Tango in the Blight's picture

Shouldn't you get some more physical silver or gold? I doubt my 7 troy oz silver will be enough for that.

Mon, 09/24/2012 - 12:34 | 2824702 magpie
magpie's picture

I doubt that helicopters serve well as the vessels of the Divine Wind.

Mon, 09/24/2012 - 12:46 | 2824757 Hippocratic Oaf
Hippocratic Oaf's picture

Yep, i can't see a Kamikaze helicopter doing much damage. <sarc>

Mon, 09/24/2012 - 12:53 | 2824776 magpie
magpie's picture

Nah only meant that you see it coming at you, loud and slow.

Still, not many getting out of the way.

Mon, 09/24/2012 - 12:40 | 2824717 markar
markar's picture

We should be so lucky to follow Japan. Their debt is entirely funded internally and have had a strong global economy to export into while accumulating their massive debt. Our collapse won't take 20 years like theirs.

Mon, 09/24/2012 - 12:41 | 2824720 are we there yet
are we there yet's picture

An unemployed man breaks into another mans home and says give me your money.  Answer: no, I am Ben Bernankie.  criminal: then give me my money .


We are so screwed.  Homeland security and layers of overlaping armies of security protect the criminals and hide their crimes, and will likely rewrite history to boot.

Mon, 09/24/2012 - 12:46 | 2824755 thomasincincy
thomasincincy's picture

"Kamikaze Pilot" LMFAO! That's Classic...thanks for posting

Mon, 09/24/2012 - 12:49 | 2824766 crzyhun
crzyhun's picture

Wonder how long he will be welcome to the cnbc family of keynesians and fellow lovers of dearest leader?

Mon, 09/24/2012 - 13:17 | 2824782 WhiteNight123129
WhiteNight123129's picture

Bonds are in Bubble, PMs are ok not bubbly, Soft commodities great, Hard ones good, Equities are going to sag.

BERNANKE IS EVIL GENIUS. AND YES IT WILL END UGLY .... BUT FOR CAPITAL OWNERS MAINLY. People indebted today will be fine, farmers fantastic and commodities owner great, debt to GDP down...



I THINK HE HOPES WE ARE IN JAPAN BECAUSE HE OWNS TREASURIES. The FEd will manage to gut the cash hoarders. THey will, Go Ben wack them. They had it easy, ugly time for them...


Mon, 09/24/2012 - 13:51 | 2824849 Money 4 Nothing
Money 4 Nothing's picture

Ben Bernanki was tracked down for a comment on these new developments and the only thing he had to say was... Tora! Tora! Tora!!! 


Photo shop this picture and write "Fed Reserve" on the wings or something.

Mon, 09/24/2012 - 13:15 | 2824895 BullyBearish
BullyBearish's picture

Let me see...what to Gary Kaminsky and Jeff Macke have in common?  Soon to be more and more...


Mon, 09/24/2012 - 13:28 | 2824962 Gimp
Gimp's picture

Kaminsky is "off" the cheerleading squad!

Mon, 09/24/2012 - 13:28 | 2824964 kevinearick
kevinearick's picture

I wouldn't bet that way just yet, but then again, watching from the bluff on my break, enjoying a cup of coffee, i always hope they will see the seam provided, and necessity is the mother of invention. dad is always the bad guy, for kicking them out of the nest.

Mon, 09/24/2012 - 13:33 | 2824983 Inthemix96
Inthemix96's picture

I think I may be able to clear up the confusion here folks.

Ben bernank is a cunt, as in "Cunt" with a capital C.  The best thing humanity is capable of at this point in time is removing this tiny little cocksucking Cunts head from his miniscule shoulders.

The zionistic bastard should be blended in a really big blender just to be sure he cannot spawn another jewish zion child.

Mon, 09/24/2012 - 13:39 | 2824992 steve from virginia
steve from virginia's picture


Kaminski makes an argument that half-makes sense then he undercuts it:


Tokyo's QE8 -  the latest bout of money-printing, that started in 2000, led to Debt/GDP of 220%, property prices 80% off all-time highs, and stocks at 1993 prices ...


Where is the (new) money? It doesn't exist: QE cannot keep up with deleveraging across an entire economy. The private sector balance sheet shrinks faster than the central bank sheet can expand. QE is a pointless waste of time, the recycling of bad credit.


Meanwhile, the point of the Fed (and other central banks) unwinding their positions is a good one. These central bank easing actions (discount window operations) are intended to be of short duration, they are not solutions to banker insolvency ... when discount window operations are 'permanent' they become insolvency indicators and thereby self-defeating.


When the market perceives the central bank to be insolvent there is no effective lender of last resort ... with all the implications that go along with it.

Mon, 09/24/2012 - 13:51 | 2825022 Money 4 Nothing
Money 4 Nothing's picture


Mon, 09/24/2012 - 14:13 | 2825169 yogibear
yogibear's picture

At least kamikazes had honor and killed themselves to kill others.

Bernanke has no honor.

He is a Wall Street/bankster whore. A younger version of Greenspan. We know what damage Greenspan did.

Mon, 09/24/2012 - 14:36 | 2825239 fiddy pence haf...
fiddy pence haff pound's picture

The economy and the stock market are gonna get the Bens from rising too quickly.

Another Bernanke bukake on the US middle class.

Mon, 09/24/2012 - 14:50 | 2825277 DavosSherman
DavosSherman's picture


Kaminsky is a fucking MORON!  We're not going down the road of Japan, every fucking CB is going down the road of Zimbabwe, and for the first time in history, all at the same fucking time.

CNBS sucks.


Mon, 09/24/2012 - 14:54 | 2825291 devo
devo's picture

How come gold didn't rise during the first ten years of QE in Japan? On the chart I'm looking it, and actually appears to have gone down, in JPY, from 1991 to 1999.

Was this due to their high savings rate and the perceived safety of JPY? Interest rates?

Mon, 09/24/2012 - 15:04 | 2825329 Mountainview
Mountainview's picture

And Draghi is his twin !!!!

Mon, 09/24/2012 - 15:08 | 2825348 Cosimo de Medici
Cosimo de Medici's picture

It's a Hospice Economy.  The patient is terminal, and there is no longer any doubt the patient is going to die.  QE is morphine, trying to make the dying's last days as comfortable as possible, administered for pain rather than a cure.

Or maybe it's Dr. Ben Bernakevorkian.

Mon, 09/24/2012 - 16:35 | 2825675 bankruptcylawyer
bankruptcylawyer's picture

"this is not a political situation". this is precisely the mentality of those who support the existence of the federal reserve controlled political system. 


this guy is 'criticizing ' the feds behavior . he's no buffoon. he is intentionally overlooking the connection beteween their behavior and their very existence as the controlling shadow government. It most certainly is a political situation. the laws that empowered the fed to conduct money debasement unfettered by the congress were passed by legislators. politicians. thus its political.

Mon, 09/24/2012 - 17:10 | 2825786 Heyoka Bianco
Heyoka Bianco's picture

This ain't no air-o-plane we're riding, it's the biggest short bus in history.

Mon, 09/24/2012 - 18:20 | 2826006 tony bonn
tony bonn's picture

don't be fooled by japan's crooked numbers and book is an economic powerhouse par excellence.....ellen brown recently shed some much needed light on the underside of the japanese mushroom....

Mon, 09/24/2012 - 21:13 | 2826568 Clint Liquor
Clint Liquor's picture

There is a word you need to look up, it's 'demographics'.

Tue, 09/25/2012 - 13:12 | 2828507 dadichris
dadichris's picture

what a great analogy - Bernanke making the ultimate sacrifice for the greater good (i.e. the destruction of the USD as the world reserve currency)

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