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Santelli Blasts Bernanke: "Whatever You're Doing, It Isn't Working"

Tyler Durden's picture


While some would look at the surge in government spending in Q3 last year (ahead of the election) and subsequent plunge in Q4 as conspiratorial, CNBC's Rick Santelli takes a step slightly further back as he draws the analogy between the mystical monetary experimentation of Ben Bernanke and his horde of central bank cronies and the "bloodletting of leeching" of medieval medicine providers. The point being that if you were sick in the middle ages, leeches were applied; and if you returned weeks later (still sick), more leeches and blood-letting took place - with no lesson learned. The fact that we borrowed $300bn in Q4 and managed a dismally dire drop in GDP growth offers little hope as the world glares agog at the Dow Jones Industrial Average index while Bernanke, six years on from the start of the recession continues to apply the same medicine that has done nothing to resurrect our economy. In Rick's words, "Whatever you're doing; It isn't working!" and in fact the monetary support could potentially hurt the economy in the medium-term as debt piles up exponentially. An epic rant...


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Wed, 01/30/2013 - 20:59 | 3200900 Paracelsus
Paracelsus's picture

Okay,lemme see if I got this....

A few years ago all that extra cash went into oil futures,and a drum went $150,then there were riots in the villages of Africa .

Now we go in behind the French,set up some drone bases,protect the uranium and gold mines.

Can we please start paying for the wars we have already got going before starting any new ones?  If the Malian Gov't was free of corruption I am sure they could fight their own battles.

Wed, 01/30/2013 - 21:50 | 3201008 f16hoser
f16hoser's picture

Rick, leave Benny alone. He's very bullish for Gold/Silver.

Thu, 01/31/2013 - 00:14 | 3201404 zerohedgeJUNKIE
zerohedgeJUNKIE's picture

Virtual Currency = Virtual Economy. We all live in a physical world hence we need sound money.

Money that cannot be printed out of thin air or typed in a computer with lot's of ZERO's to ?.

Bernanke is the magician that keeps most of the Zombies in awe.

Bernanke is already throwing all he's got printing, buying, ZIRPin' since 2008.

The host is already dead. And still they keep suckin' the dead host dry.

Guess the only solution is to get back to TRADITION and resurect the barbarous relic.

Thu, 01/31/2013 - 06:01 | 3201818 BlackVoid
BlackVoid's picture

But, it DOES WORK!

Did any of the FED banks go bankrupt yet? No? Then IT WORKS.

Thu, 01/31/2013 - 06:05 | 3201822 indio007
indio007's picture

mmmmm... pie.....

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