The Bernanke Circ(us)

Tyler Durden's picture

Those who spend their days (and nights) in front of Excel are all too familiar with what a Circ is. For everyone else, just assume it means circus.

Such as this "circular"|"circus" response by Bernanke to California Representative Miller question which was as follows: "looking at the impact of QE3 has had on the mortgage market rates, we're historically at levels right now, I'm not seeing much change, but maybe that's what the intent was. But the Fed's balance sheet, like you said, had $3 trillion of holdings. Do you think that the mortgage interest rates are where they should be to meet the objectives of QE3. And do you think they need to be lower?" Enter the circ(us):

"One of the paradoxes is that the best way to get interest rates up is to have low interest rates, because that promotes a stronger growing economy, and that causes interest rates to rise. In some ways, the fact that interest rates have gone up a bit, and it happens on the real and not the inflation side, is actually indicative of a stronger economy, which is, again, suggests that maybe this is having some benefit."

So... since Bernanke wants rates rising and thus indicating a stronger economy, all the Fed has to do tomorrow is announce it will no longer monetize bonds and mortgages, whose yields are at or near record low precisely because the market can and has been front-running the Fed's now $85 billion in monthly purchases for the past 4 years.

We can't wait as the Fed unleashes unseen economic growth and prosperity by halting its infinite balance sheet expansion.

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bania's picture

Circ de soleil, Sun God King Bernank

nope-1004's picture

Can someone please tell me which lie to believe?  Would save me thinking.



WayBehind's picture

Bunch of clowns running this circus ... results are guaranteed :)

mantrid's picture

when you want to be taller, just crouch, so when you stand up again, you'll be.. taller!

Bandit und Buster's picture

This is not a circus and these CRIMINALS are NOT clowns guys! Come on, they WANT you to think they are stupid bunglers, THEY ARE NOT.  They are subversive bastards of the zionist kind which have been planning the take down of USA since the 1700s!

Reading list for the uninformed:

Synagogue Rising

The Nameless War

The Protocols of the Learned Elders of Zion"   -

In this New World Order the children of Israel will furnish all the leaders without encountering opposition. The Governments of the different peoples forming the world republic will fall without difficulty into the hands of the Jews. It will then be possible for the Jewish rulers to abolish private property and everywhere to make use of the resources of the state. Thus will the promise of the Talmud be fulfilled, in which is said that when the Messianic time is come, the Jews will have all the property of the whole world in their hands."

— Baruch Levy, Letter to Karl Marx, 'La Revue de Paris', p.574, June 1, 1928



Shevva's picture

I'd believe all this Jew bashing if the world eCONomy looked like it could be saved, they got greedy now it's out of control simple as that.

Be handy though when your standing in the soup line mummbling under your breath.

rotagen's picture

Wouldn't it be nice if we didn't write about the puppets, the bernankes and obamas, and actually write about the puppeteers?  Oh yeah, they're hiding themselves as they have done for decades.

buzzsaw99's picture

the fed = trapper keeper

only rosie o'donnell can stop it now.

stinkhammer's picture

ben is starting to unravel

DavidC's picture

We can only hope so.


nmewn's picture

I'm under the impression they are trying to make us as insane as they are.

ebworthen's picture

That's like saying having low interest in attractive Women is the best way to get a hard-on.

The Bernanke is a complete delusional fool or an utterly corrupt liar.

Osmium's picture

I'm convinced he is both.

Bandit und Buster's picture

"The Bernanke is a complete delusional fool or an utterly corrupt liar"

A fool, not hardly. He's playing us for the fool.  A liar, most definitely!

Don't be decieved!

Our leaders are not chosen for their intelligence or achievement but rather because they are able to win the peoples’ trust and are willing to betray it. They are chosen by a small satanic cult – cabalistic bankers and Freemasons – that controls the world’s finances and media. Our ‘leaders’ are junior members of this international cult, called the Order of the Illuminati.”  Henry Makow, Ph.D, “Illuminati – The cult That Hijacked the World”


khakuda's picture

Seriously, his thinking is so off it's not funny.

I love when he keeps saying he is reducing the deficit because he is remitting the interest on the government bonds he buys back to the Treasury.  I really wanted him to say that he is going to buy $50 trillion of 2% debt from the Treasury and give the $1 trillion interest back to the Treasury so that the deficit would go away completely.  Then, we wouldn't have to raise taxes or cut spending by his logic.

fourchan's picture

when does the complete destruction of americas wealth by the fed become unamerican?

TruthInSunshine's picture

This is what I'm talking about.

Whether it's a yammering, drooling Greenspan bleating on about Rumsfeldian unknowable unknowns, or a paradox-wrapped-in-a-conundrum "Virtuously Circular" waxing Bernanke, remain calm, for all is well.

dick cheneys ghost's picture

Im not sure which lies to believe anymore.......

NoDebt's picture

The most recent one.  ALWAYS the most recent one.

You haven't been taking your government-proscribed crazy pill every day, have you?

You poor thing, you must be in such pain.  Here, you can have one of mine to get you by.

dick cheneys ghost's picture

got this from Turds..................From todays testimony


Published on Feb 27, 2013

Feb. 27 (Bloomberg) -- Representative Sean Duffy, a Republican from Wisconsin, confronts Federal Reserve Chairman Ben Bernanke about cutting the `fat' in the budget. (Source: Bloomberg

stinkhammer's picture

that's my congressman!  END THE FED Mr. Duffy!

Lost Wages's picture

Sounds like witchery. See if he floats!

francis_sawyer's picture

Build a bridge out of him...

The Limerick King's picture



Bernanke's a Keynesian twit

A Friedmanite, Randian shit

A Kleptocrat pawn

A Satanic spawn

As human, he's wholly unfit

The Limerick King's picture

Hey...I got a "wow" from Tyler. ;-)

nope-1004's picture

That's only 1 line, and not a limmerick.  What up?


The Limerick King's picture

Could be a touch of early onset alzheimer's...I keep forgeting I'm only allowed to post limericks. ;-)

ihedgemyhedges's picture

There once was a Fed head from Lina

Whose policy had never been fina

He said with a grin

As he wiped off his chin

No one is fina than Dimon

prains's picture



you are the BANKSY of zerohedge and we love you




Rogue Trooper's picture

Keep doing what you do... we love ya.

I'll keep reloading lead 'n' brass and fiat permitting stack ;-)

PaJoad's picture

Who the hell down votes Tyler for giving you a wow?

LetThemEatRand's picture

Three Cheers and one (more) up arrow!

Rogue Trooper's picture

Well said brother... but WTF who did the single down arrow?

francis_sawyer's picture

John Kerry ~ But he voted FOR it before he voted AGAINST it...

Cdad's picture

I said it yesterday, and I'll repeat it here...this particular time around the Fed's testimony to Congress was nothing short of a complete many ways...not the the least of which is the above cited circus.  

All happy  bull market talk aside, I smell smoke in the cockpit where Ben Bernanke sits, and I suspect all along that you have been right, Tyler, that this whole $85 billion per month has been all about pumping money into Euro banks as they now peer deep down the rabbit hole of Italy...and just what it may well mean for the banks.  

QE infinity has little to do with creating jobs in the US...because that does not work, and has proven itself to be a failure in this way.  It has little to do with interest rates, as they are at zero and have been there since QE2.

Nope...what we got here is circus logic to cover the fact that the US dollar is being printed into oblivion to save the old money of Europe.  


ekm's picture



I can even tell you where the money is going to:

To the swap counterparties of primary dealers and major euro banks in order to pay for losses on those swaps.

Reminder: only 7 of 21 primary dealers are US based.


Problem: That money is piling up on crude oil, hence economy is literally in contraction right now, full blow depression.


Carl Spackler's picture

Only 7 of 21 primary dealers are U.S. domiciled because the Treasury's debt has grown so large that to sustain the ability to keep rolling it over, investors from outside the U.S. economy are absolutely required.

Yup...another TBTF apparatus created by government elitists and their abettors on Wall St., in the media, and in the ivory towers of academia.

The crux of this problem, like all major historical problems on Earth, is really out-of-control eilitism.

Law97's picture

"The crux of this problem, like all major historical problems on Earth, is really out-of-control eilitism."

Excellent observation.  The elites, victims of their own shortsighted greed, should have gone down in flames in 2008-2009 if not sooner.  Instead, however, they orchestrated a coup of the U.S. government and seized total control of the Fed and unlimited money printing.  They use this unlimited money to bail themselves out while at the same time completely destroying the U.S. economy for generations to come.  But they don't give a shit as long as they can abscond with a few hundred million per elitist family, enough to spend the next several generations in luxury on their own private island somewhere while the former middle class, who does not have access to the Fed's trillions, is destroyed. The elites know EXACTLY what they are doing, and they are accomplishing it quite effectively.

That about sums it up.  Seems pretty obvious to me as well as many others on ZH. 

Rogue Trooper's picture

Awesome... all of you are my ZH brothers!

The wagons are circled by the Benark Crew in this Globalist, Statist, Centrally Planned Circle Jerk.... you just sense it.

You cannot take what freedon we all have left without a fucking fight you STATE WORSHIPPING CUNTS!

Phew, I feel much better...

francis_sawyer's picture

 LasVegasDave will be happy because his pool boy services will still likely be required...

Moe Howard's picture

There was no "coup", they already owned the FedGov, the FedRes from 1913, and could and did print whatever they wanted or not print whatever they wanted from the git go. They proved that in the Great Depression.


The only thing that has happened is the velvet came off the glove, the curtain slipped, we got a peek and they can't pull it back. The interwebs is preventing the scum from hiding in the shadows.

ekm's picture

He's been saying what he's been told to, nothing more and nothing less.


It still reminds me of 2007 when everything was forcefully televized and nice and rozy. I don't remember such brainwashing since 2007.


Something is happening, something is about to happen. They are appearing to the media quite too often recently and quite forcefully.

If they already stated that this is open ended QE, why do they need to re-iterate it in the media?

khakuda's picture

This is the final ramp up.  We went to QE infinity, Japan is following and Europe will come soon.  We ain't seen nothing yet.  This is a coodinated move by the G7 to convince the world that they should spend or invest the fiat they have before it becomes worthless.

fonzannoon's picture

they have been airing "cyber hacking" segments left and right. I am starting to think that is the nice imaginary strawman that eventually pisses all over the market picnic. one big no bid flash crash blamed on some rogue terrorist cyber hacking.

ekm's picture

This is unreal. Did you read my mind?

Bob Woodward called Obama's actions MADNESS.

Calling the president MAD?


I'm telling you. Something is happening. Popcorn ready. Let the movie begin.

Arkadaba's picture

I wonder if even this sequestration "theatre" - I really can't view as anything but -  is possible cover for something else.

ekm's picture

Nobody as serious as Woodward would call MADNESS on Obama.

This is serious.