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Rick Santelli Rages: "Who Is Bernanke Working For?"

Tyler Durden's picture


Reminiscing on the good ol' days when traders and investors poured over fundamental metrics, CNBC's Rick Santelli looks upon the current environment as a single-factor "Bernanke-loves-me, he-loves-me-not" un-reality and the impact he has on savers. "It seems a little bit ridiculous," he understates before launching into two minutes of clarifying thought on just what it is that Bernanke is doing and that we are suffering through. Just who is Bernanke working for?


Expanding on the discussion last night, Santelli slams Bernanke for his flip-flopping view of the unemployment rate ("where was he during the elections when 'unemployment' was getting better?", his entire disregard for the terrible divergence between a surging corporate profit buildup (surely indicative of a healthy economy?) and the 'real' employment rate (which is dismally awful) preferring to focus on the 'unreal' unemployment rate - which even he now notes is over-stating the recovery.


As Santelli notes, maybe, just maybe, it is all about interest rates and the cover for a Treasury with "boatloads of unsustainable debt."

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Thu, 07/11/2013 - 13:40 | 3742049 Ahmeexnal
Ahmeexnal's picture

Answer: The european plutocratic monarchs who own almost all major banks.

Thu, 07/11/2013 - 13:47 | 3742082 BaBaBouy
BaBaBouy's picture

I Always Thought It Was SackMan GOLD ...

Thu, 07/11/2013 - 13:48 | 3742088 chumbawamba
chumbawamba's picture

Oh, shutup, Santelli, you ineffective bag of farts.

I am Chumbawamba.

Thu, 07/11/2013 - 13:54 | 3742111 Cult_of_Reason
Cult_of_Reason's picture

Bernanke is a domestic terrorist.

Thu, 07/11/2013 - 13:58 | 3742128 WarriorClass
WarriorClass's picture

Damn right he is.  So is everyone else in the Federal govenment.



Thu, 07/11/2013 - 14:00 | 3742139 Cult_of_Reason
Cult_of_Reason's picture


BTW, Not only Bernanke is a domestic terrorist, he is also an asshole.

Thu, 07/11/2013 - 14:13 | 3742180 BLOTTO
BLOTTO's picture

"Who Is Bernanke Working For?"


A. Luciferian, human sacrificing, unmoral, Sun-worshiping Satanists.


Next Question?

Thu, 07/11/2013 - 14:58 | 3742360 MsCreant
MsCreant's picture

Statists, statists....

Thu, 07/11/2013 - 15:08 | 3742404 chumbawamba
chumbawamba's picture


Thu, 07/11/2013 - 15:46 | 3742559 Herd Redirectio...
Herd Redirection Committee's picture

So I was checking out Google Trends...


The word bubble worldwide is not really trending, but within the US it is, esp. in the last 12 months.  But if you look at the regional interest that is where things get interesting...  Google suggests its because searches for bubble butts are up.

Thu, 07/11/2013 - 15:47 | 3742565 MagicHandPuppet
MagicHandPuppet's picture

Hang the bastids!

Thu, 07/11/2013 - 14:15 | 3742187 kralizec
kralizec's picture

Yes, an asshole...reminds me of an oldie but a goodie -

The organs of the body were having a meeting, trying to decide who was
In charge. Each organ took a turn to speak up:

Brain......... I should be in charge because I run all body functions.
Blood........ I should be in charge because I circulate oxygen for the brain.
Stomach... I should be in charge because I process food to the brain.
Legs......... I should be in charge because I take the brain where it Wants to go.
Eyes......... I should be in charge because I let the brain see where it's going.
Asshole.....I should be in charge because I get rid of your waste.

All the other parts laughed so hard and this made the asshole very mad.
To prove his point, the asshole immediately slammed tightly closed and
Stayed that way for 6 days, refusing to rid the body of any waste whatsoever.

Day 1 - Brain got a terrible headache and cried out for relief
Day 2 - Stomach got bloated and began to ache terribly
Day 3 - Legs got cramps and became unstable
Day 4 - Eyes became watery and vision became blurred
Day 5 - Blood became toxic and poisoned the body
Day 6 -The other organs agreed to let the asshole be in charge.


Thu, 07/11/2013 - 14:24 | 3742225 Yes_Questions
Yes_Questions's picture



How appropriate mid work day, at the cube..

++ ((0))


Thu, 07/11/2013 - 15:57 | 3742602 Schwetty Shorts
Schwetty Shorts's picture

Makes sense then that he would work for the same man as Number 2


Thu, 07/11/2013 - 14:29 | 3742245 Ban KKiller
Ban KKiller's picture

This government would say Paul Revere was a "traitor". Redcoats to the last. 

Thu, 07/11/2013 - 15:01 | 3742373 max2205
max2205's picture

Rick is for sure, on the No Fly List

Thu, 07/11/2013 - 14:33 | 3742261 FlipFlop
FlipFlop's picture

I was wondering if the recent rise in house prices actually means the start of fiscal dominance as people move from paper assets such as currency and government bonds to anything tangible.

Sargent and Wallace wrote a paper which was heavily referred to by John Cochrane in his paper about fiscal dominance as opoosed to monetary dominance since 1980s.

According to theory, fiscal deficits drive inflation regardless of the central bank's intentions.

Thu, 07/11/2013 - 16:02 | 3742619 Welder
Welder's picture

Not quite domestic....

Thu, 07/11/2013 - 16:05 | 3742631 Welder
Welder's picture

Not quite domestic....


Thu, 07/11/2013 - 13:54 | 3742117 francis_sawyer
francis_sawyer's picture

He's wasting his time... Everybody knows that Indiana quarried limestone has special properties that, when fit together in a certain way, prints money all by itself...

Thu, 07/11/2013 - 15:44 | 3742553 prains
prains's picture

Don't you have to rub it together, just so!

Thu, 07/11/2013 - 14:03 | 3742149 maskone909
maskone909's picture

HEY!  I just realized that EVERY ONE HAS A JOB! we are all working for the FED!

Thu, 07/11/2013 - 15:03 | 3742383 U4 eee aaa
U4 eee aaa's picture

Debt slaves

Thu, 07/11/2013 - 15:23 | 3742396 OneTinSoldier66
OneTinSoldier66's picture

As Judge Andrew Napolitano has questioned numerous times...


"Does the Government work for us or do we work for the Government?"


The Fed is a creation of the Government. The Federal Reserve Act is an act of Congress. There was a change in the monetary system by Congress with the Federal Reserve Act. No Amendment to the Constitution. Congress did an end run around the Constitution.

Thu, 07/11/2013 - 17:48 | 3742997 bornlastnight
bornlastnight's picture

Not to mention that it was Woodrow Wilson (DEMOKRAT) that signed the Federal Reserve Act into law.  You know,  that Wilson who got us into WW! by declaring war on Germany, pushed the League of Nations that expelled Japan for waging war in China which resulted in Japan bombing Pearl Harbor that allowed President Roosevelt (DEMOKRAT) to declare war on Japan...yeah...that Wilson.

Fri, 07/12/2013 - 03:17 | 3744243 All Risk No Reward
All Risk No Reward's picture

The real villains are the OWNERS of the mega banks that control the Fed.

But it is true we all work for this Federal Reserve System.

Think about it like this...  every company has a widget, a product that they sell.

What do bankster sell?  Why debt, of course.  What is debt money.  Money is debt.

What is the legal corporate mandate?

Why, to maximize profits.  What are profits?  Money.  Debt.  Bankster Widgets.

Another way to restate the legal corporate mandate to maxmize profits is "maximize bankster widgets outside of your corporate entity."

We all work to maximize outstanding bankster debt enslavement widgets.

I just described a financial BORG that is taking us all over.

This is why I don't have patience for people who think these rulers are stupid.  This mofo system is incredible in its operation - I can't rule out supernatural.

Thu, 07/11/2013 - 14:27 | 3742239 Nostradamus
Nostradamus's picture

Are you ever going to post another blog here on Zerohedge?  The first installment was pretty awesome.

Thu, 07/11/2013 - 14:46 | 3742315 chumbawamba
chumbawamba's picture

Really?  Hmm.  Ok, well, just for you, Nostradamus, look for the next installment tonight.  Although, somehow, I think you already knew this.


Thu, 07/11/2013 - 14:41 | 3742286 Parisnights
Parisnights's picture

Seems like chumbawamba has been sniifing too many of maria fartoromas farts.  Get well soon chumb, get well soon....

Thu, 07/11/2013 - 15:52 | 3742580 Bay of Pigs
Bay of Pigs's picture

No, he is pointing out the hypocrisy of Santelli (who is nothing but controlled opposition on the BlowHorn).


Fri, 07/12/2013 - 00:44 | 3744070 jerry_theking_lawler
jerry_theking_lawler's picture

If Rick keeps this up....he better sell his vehicles....and ride his bike to work....its hard to put thermite on one of those and get away with it.....

Thu, 07/11/2013 - 13:47 | 3742084 Zer0head
Zer0head's picture

love these rhetorical questions

Thu, 07/11/2013 - 15:03 | 3742382 Momauguin Joe
Momauguin Joe's picture

Oh yes, the good old controlled opposition, like Santelli. Always good to pressure relief valve some 'righteous anger' on the boobtube. Keeps the homeless foreclosed former middle class from pulling a Malvo/Mohammad ride through the Hamptons. 

Thu, 07/11/2013 - 14:07 | 3742161 Silveramada
Silveramada's picture

Ben works for a bunch of european oligarchs dinosaurs ... easy

Thu, 07/11/2013 - 14:09 | 3742166 Super Marco
Super Marco's picture

I'm on that Rick Santelli and alcohol.

Thu, 07/11/2013 - 15:34 | 3742512 A Nanny Moose
A Nanny Moose's picture

Isn't plurality and monarchy mutually exlusive?

Thu, 07/11/2013 - 15:56 | 3742595 1100-TACTICAL-12
1100-TACTICAL-12's picture


Thu, 07/11/2013 - 20:13 | 3743421 The Count
The Count's picture

...and thus also control a part of the FED. Now how many people know that (outside of ZH)?

Thu, 07/11/2013 - 13:42 | 3742053 Cognitive Dissonance
Cognitive Dissonance's picture

"Just who is Bernanke working for?"

That is the show stopping cognitive dissonance so many people trip over. To answer it honestly requires re-examining EVERYTHING we think we know.

<That way be pain. So full speed ahead and damn the fiat.>

Thu, 07/11/2013 - 13:51 | 3742094 francis_sawyer
francis_sawyer's picture

Damn Bangladeshis!

Thu, 07/11/2013 - 13:54 | 3742114 NoDebt
NoDebt's picture

Um.... my schedule's pretty full right now.  Can we do this whole "honest re-examination of everything I think I know" maybe sometime after Labor Day or better yet after the New Year?  I'm make it a New Year's resolution, how's that sound, partner?

In the meantime, I'll have to make do with a lousy $85B/mo. in QE.  It won't be easy, but I think I can do it.

Thu, 07/11/2013 - 14:13 | 3742178 Philo Beddo
Philo Beddo's picture

Who he is working for could be a show stopper, but the real question is, what is he really trying to accomplish.  And not this stable price and employment B.S.   My wife always yells at me after a few soda pops when I get going on the bearded one, but I still maintain he knows EXACTLY what he is doing.   These results are not an accident and are soley intended to collapse everything.   It may be a few years yet, but the Federal Reserve will go bankrupt, be audited, and disbanded.  How else are you going to get to your one world bank?

Like our Chicago friends say:

Create a problem:  Federal Reserve    

Provide the solution:  One World Bank

The key is trying to paint a picture that seems like they are trying their best for the sheeple.   Hence the lies...



Thu, 07/11/2013 - 14:58 | 3742358 SilverIsKing
SilverIsKing's picture

Controlled demolition.  When it appears that the world financial system is collapsing and everyone is going to lose everything, they will provide the 'solution.'

Thu, 07/11/2013 - 15:09 | 3742407 lakecity55
lakecity55's picture

...which is why you have an EO to control all known forms of communication....just to make sure your 'message' gets thru.

Thu, 07/11/2013 - 15:32 | 3742502 Herd Redirectio...
Herd Redirection Committee's picture

They want the USD system, without the benefits for the avg American.

Therefore they need a global reserve currency, not named the USD.

Thu, 07/11/2013 - 15:07 | 3742401 Panafrican Funk...
Thu, 07/11/2013 - 15:57 | 3742588 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Yep classic inverted Marxism at its best here, turning manufacturing a solution to solve a problem into manufacturing a problem to fit the solution. And not only that but selling it as help for the worker aka lower unemployment and fixing the economy. Unless you are a moron (unfortunately there seems to be no shortage of them educated and otherwise) you can see Bubblehead Ben and the FED's policy is doing the exact opposite of the bullshit they are claiming.

Thu, 07/11/2013 - 18:36 | 3743152 Non-U
Non-U's picture

The U.S. slipped from a constitutional democracy (democracy framed by the Constitution) to a homocratic démocracy (democracy framed by the Human Rights). The last one doesn't accept boundaries so all the system is working for a One World Governement and it's the reason why you need a One World Bank. Never forget it's always the ideology who leads the economy.

Thu, 07/11/2013 - 14:15 | 3742186 Solon the Destroyer
Solon the Destroyer's picture

It no longer matters who Bernanke works for.

Bernanke is now the bitch of the bond vigilantes. He proved that last night.


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