Dear Senate: Please Ask Bernanke To Explain This
Each time the Fed's balance sheet is expanded, gas prices at the pump surge... strange coincidence or entirely to be expected consequence of flooding the world with newly printed money. Dear Senate, please ask Bernanke to explain this... on Humphrey-Hawkins Report days, gas prices have only been higher once - right before the entire financial market collapsed.
Correlation does not imply causation... except when all the correlations are caused by the Fed:
Charts: Bloomberg
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Throw MOTHERFUCKING Bernanke in prison already and end the pain.
END the CRIMINAL CARTEL everyone endearingly calls the "fed".
MOTHERFUCKING CRIMINALS.
Wouldn't make a difference. The "next guy up" would do the same thing as Uncle Ben.
only softballs today
The reason there is correlation is because Quantitative Easing boosts real economic consumption and production, which is why the FOMC Beige Book continues to show a rapidly recover economy ("V Shaped"), with strong employment, wage, housing and industrial utilization growth, as well as loan demand and growth in retail and industrial sales, etc., accompanying this robust recovery.
And that's why the Fed has undertaken QE/POMO pumps, in addition to the original Hank "Bald Headed Fuck" Paulson/Timmay "Keebler Elf" Geithner 'blank check' from CONgress for TARP/TALF/Unlimited FASB Interpretation, on a monthly basis for nearly 4 years now, with steadily growing real interest rates accompanying such robust growth, that is caused by the highly successful Quantitative Easing "Virtuous Circle" monetary-straying-into--fiscal-policy-&-definitely-monetizing-the-debt.
So you see, oil/energy/gasoline prices aren't being juiced as a result of a dilution of fiat that is the consequence of Bernank's Quantitative Easing.
It just appears that way on the surface.
But I'd better let Ben 'Virtuous Circle Monetary Policy' Bernanke explain it to the illustrious, competent & deeply ethical Senate Panel of MEMBERS that questions him on this subject matter, should they wish to.
Thank you.
The price for a gallon of gas is down, as long as you use a new ice cream container to measure it.
Or a new soda bottle. I noticed the size of a bottle of soda went from the 16.9 oz/.5 liter to 16 oz/pint. There's also a new 20oz size But that's like $2.
ICE CREAM BITCHES!!!
http://clubhardhead.com/wp-content/uploads/2012/05/Sexy-Ice-cream-2.jpg
Here is another great chart showing the change in Gas Prices vs. the S&P:
pic.twitter.com/fx2j4tX3O3
When gas prices move this fast, the S&P rolls over.
The only time any real questions were ever asked was by Ron Paul.
Even RP fumbled around when it came to Ben. He probably values his life. He was more interested in showing another system during these sideshows.
It ain't that difficult, I mean, the information is everywhere.
"Mr. Bernanke, can you please tell us pompous asses on this side of the sideshow where, exactly, the FED came up with the 16 Trillion in loans that saved the banks who own the FED in and around 2008?"
"Do you see it as a conflict of interest that you may create as much "reserves" to rescue the exact banks that own you?"
"What is the effect on every single holder of FRN's when you monetize the debt?"
"Exactly how much value has the FRN lost since inception, and how do you reconcile this with the mandate of the FED to maintain stable prices?"
It is not tough. It is orchestrated to give us the illusion that we the people have a say in what happens to the value of everything we own as we are forced to do business in Caesar's money.
pods
don't see any plays or ride in open limos
Suicided Translation: The situation when a person who goes against the "chosen people" is declared to have committed suicide even in the face of massive evidence to the contrary. Reference: See.... Bernie Madoff's son
no such thing in Madoff's son, troll, try again
Alan Grayson is pretty great at grilling the Fed officials and their bullshit as well. "Is anyone minding the store at the Federal Reserve?"
http://www.youtube.com/watch?v=cJqM2tFOxLQ
I'll miss Dr. Paul on days like these. He was the only guy on the committee who ever challenged these guys with actual substance.
Why is 2010 omitted?
Put glasses on jack
Nooses are better than prisons. Kikes will always work to parden their fellow kikes assuming they don't win in court, or manage to skip trial altogether.
Bernanke channeling Billy Joel.
"They heard the hum of our motors..."
"They counted our rotors...."
"And waited for us to arrive...."
"And we will all go down together... they said we'd all go down together..."
The spice must flow Ben. Quit being a pussy. 200 billion frankenbucks a month, baby.
Cheaper than dirt has hanguns in stock Today!!! GIggity!
Luckily, no one uses gas, ergo not inflationary.
btfd
Just substitute a subsidized Tesla for gasoline.
All the cool kids are.
kinda that catch 22 these idiots have placed themselves
and all of us
inflate out of unsustainable debt
and make an already essential and depleting resource
that much more unreachable
war (I mean more war) is next
and like QE, it wont work
What is the under on anyone in Congress asking Ben Bernanke even a pertinent question during his testimony?
The over is 0. Not sure what that means for the under.
before i answer....is ron paul coming back as guest host?
It is not polite to try and talk with something in their mouth.
pods
Helicoptor Ben only goes up.
Except the air is getting pretty thin these days.
That's not the air, it's his reasoning
It's those damned Muslims and Obama not allowing is to drill here. /sarc
I now understand the media pushing the Muslims as the cause of gas prices. It's an emotional trigger for all, while hiding the money printer's agenda and conundrum of fiat fuckery.
Damn, just when I thought it was those eeevil speculators.
That narrative is for those who serfs who believe the left represents their interests. The Muslim narrative is for those serfs on the right that believe the right represents their interests. Divide and conquer and all of that jazz.
And the muslim speculators are for the independents
doc,
being 55 , always signing fronts of checks.....i have very little optimisum about anything. with that being said....i think more people are getting it.......and we can thank al gore for creating the tool that, as it eats all our info , it is also feeding the masses more truth than ever before...
All people have to do to "get it" is "look for it." Protracted unemployment, 10-oz. "pounds" of coffee, $2.89 loaves of bread that used to be $1.49, $4/gallon gas, 5%+ annual increases in property and real estate taxes, etc., etc. has gotten more people to "look for it".
Many folks are discounting the "sequester" as another bumpy embarassment to the abortion we call Washington, D.C. I think it will have a major, major impact because it will motivate a new chunk of people to "look for it." The return to 6.2% payroll taxes has made a number of folks "look for it," and I think the "sequester" will multiply that.
The equation is already set, the end known. The only thing holding back the dam is that the number of people "looking for it" is insufficient as yet to tip the jenga tower. It has been an awareness question rather than a fiscal/economic question for many years now.
My rant is done.
Indeed,
1. The Muslims = gas price increases
2. The Europeans = stock market downturns
3. The Black Single Mother = any domestic financial or cultural decay issue
Remember the U.S. Government's crutch: "When in doubt, blame brown people."
Things you'll never hear:
~~~
"Gasoline prices look like they've reached a permanently high plateau..."
No inflation, just like Orly's chicken breasts.
Breast inflation is still booming.
See that you caught the inference.
Yeah, still want to know where Orly shops --
Bacon by me is 6.99 lb -- not $4
Chicken breasts are $2.99 -- not .99
Lettuce is $1.99 -- not .99
and gas today is $4.05 -- not $3.60
and more importantly, ice cream is $5.99 for the 48 ounce half gallon container.
Apparently, Orly has the use of AnAnonymous' magical time-traveling flying rickshaw, and still does all her shopping back in the mid-2000s. Too bad the rest of us have to shop in 2013.
I was thinking of Orly's credibility-stretching (credibility-breaking) claims of "no food price inflation" earlier this morning, and here are some of MY observations comparing prices from the 2006-2007 timeframe to those of today (all items purchased from Fred Meyer or Costco, with one noted exception):
Skim milk, gallon: $2.49 then, $3.89 today
95% lean ground beef, /lb: $2.19 then, $2.89 today (this one from local butcher)
Sugar, 5 lb bag: $2.19 then, $3.69 today
Bulk yellow onions, per lb: $0.89 then, $1.19 today
Celery, per lb: $0.99 then, $1.29 today
#10 can of crushed tomato puree (Costco): $1.99 then, $3.09 today
56 oz. jar of sauerkraut (Costco): $1.99 then, $2.99 today
32 oz. Nancy's Yogurt, plain: $2.29 then, $3.29 today
2 2 liter bottles Extra Virgin Olive Oil (Costco): $21.98 then, $28.49 today
Romano Cheese (Costco), per lb: $5.29 then, $7.29 today
40 oz. bad dried mangos (Costco): $7.99 then, $10.89 today
6-pack Orowheat bagels: $1.89 then, $3.59 today
Almond butter, freshly ground, per lb: $4.79 then, $6.59 today
Whole pork loin, per lb: $1.79 then, $2.49 today
Whole chicken, per lb: $0.79 then, $1.29 today
Ground lamb, one lb: $4.99 then, $6.99 today
64 oz. can Apricot Nectar: $1.79 then, $2.49 today
And these are not cherry-picked numbers, but representative of the price rises I have seen over the last six years.
So Orly, you can take your "no inflation" lies and shove them up your ass.
Akak, you need to cut down on those bad mangos.
LOL!
I read over my post twice, and STILL missed that one!
Yes, it was supposed to be "40 oz. bag".
Silly me, I googled " bad mango" figuring it would give me a variety close to what you meant. I didnt think you were talking about a rock group.
Miffed;-)
Thanks for that Akak -
I know there have been some wild swings price wise in home heating oil, but since QE1 started in late 08, prices have been marching upward and right now hovers around $4 per gallon.
For those seniors and others on a fixed income, shelling out 1000 bucks for a tankful every month in the winter has got to hurt like a knife in the back.
I've prepped with a wood-burner, but many seniors haven't and are sitting around in sweaters, blankets and going to the public library to spend their days.
Jani, I have always been curious, WHY do people in the Northeast still heat with that messy, stinky and archaic heating oil, when the rest of the country (even almost everyone in my home state of Alaska) has moved to natural gas decades ago? Surely there is and has been enough population density to have long ago justified the conversion. I mean, my God, do you still light your homes with whale oil too?
@akak ~ not trying to challenge you here ~ just adding a little comparison shopping
~~~
Skim milk, gallon: $2.49 then, $3.89 today ~ $2.69, ALDI, but have 2 huge dairy farms adjacent, so...
95% lean ground beef, /lb: $2.19 then, $2.89 today (this one from local butcher) ~ Irrelevant 4 me ~ have 2 steer who frolick occasionally w/ the local ldies, but local COSTCO is $2.39
Sugar, 5 lb bag: $2.19 then, $3.69 today ~ can't remember the last time I bought sugar ~ Have 150 lbs sealed in mylar
Bulk yellow onions, per lb: $0.89 then, $1.19 today ~ FREE ~ Grow my own
Celery, per lb: $0.99 then, $1.29 today ~ FREE, grow my own
#10 can of crushed tomato puree (Costco): $1.99 then, $3.09 today ~ FREE, grow my own & preserve
56 oz. jar of sauerkraut (Costco): $1.99 then, $2.99 today ~ Cabbage, Vinegar & pickling spices... FREE ~ grow my own
32 oz. Nancy's Yogurt, plain: $2.29 then, $3.29 today ~ can make it from scratch [see milk above]... cept for the cultures
2 2 liter bottles Extra Virgin Olive Oil (Costco): $21.98 then, $28.49 today ~ Olive oil totally depends on what you buy... Hald the OO in the US is a mix of Canola oil... Buyer Beware [unless u don't give a ff]
Romano Cheese (Costco), per lb: $5.29 then, $7.29 today ~ [see yogurt]
40 oz. bad dried mangos (Costco): $7.99 then, $10.89 today ~ WTFF?
6-pack Orowheat bagels: $1.89 then, $3.59 today ~ see wheat prices... make from scratch
Almond butter, freshly ground, per lb: $4.79 then, $6.59 today ~ Don't live in Cali or Australia... I'm fine w/peanut
Whole pork loin, per lb: $1.79 then, $2.49 today ~ $1.99 [tenderloin], but I will say that they have about an 'eith more inch' fat rind on them ~ but you can render that if u want...
Whole chicken, per lb: $0.79 then, $1.29 today ~ build a coop and you can buy a chick for a buck... They're funny animals too...
Ground lamb, one lb: $4.99 then, $6.99 today ~ $6.99 as well
64 oz. can Apricot Nectar: $1.79 then, $2.49 today ~ say wha?
Good comparison Francis. You are fortunate to be in a place to raise beef. My cantankerous 83 yr old mother in law still raises 4-10 steers a year Spokane. When she sees what we pay in beef she always flips out. "Why I can raise a beef easily for $4.00/lb" is what he hear all the time. What she doesn't care to admit is she has 80 acres of pasture and only feeds hay 3 months a year. Being on a well in an arid part of San Diego means no pasture. Hay around here goes for $15-25 per 120# bale so we ain't gonna see $4.00/lb beef. Cheapest chicken scratch at Walmart was 6.00/ 40lb bag about 10 years ago. It's now $14. I buy organic scratch for my birds and it's $22. Organic lay pellets are $30/ 40lb sack which lasts me a week. Though we have a great advantage having a growing season that is all year, raising protein cost effectively is quite a challenge.
Miffed:-)