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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 | Link to Comment Ahmeexnal
Ahmeexnal's picture

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

Thu, 07/11/2013 - 13:47 | Link to Comment BaBaBouy
BaBaBouy's picture

I Always Thought It Was SackMan GOLD ...

Thu, 07/11/2013 - 13:48 | Link to Comment chumbawamba
chumbawamba's picture

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

I am Chumbawamba.

Thu, 07/11/2013 - 13:54 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Bernanke is a domestic terrorist.

Thu, 07/11/2013 - 13:58 | Link to Comment WarriorClass
WarriorClass's picture

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

http://americandictators.blogspot.com/

 

Thu, 07/11/2013 - 14:00 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Unquestionably.

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

Thu, 07/11/2013 - 14:13 | Link to Comment 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 | Link to Comment MsCreant
MsCreant's picture

Statists, statists....

Thu, 07/11/2013 - 15:08 | Link to Comment chumbawamba
chumbawamba's picture

Statanists!

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

So I was checking out Google Trends...

http://www.google.ca/trends/explore?q=bubble#q=bubble&geo=US&date=today%...

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 | Link to Comment MagicHandPuppet
MagicHandPuppet's picture

Hang the bastids!

Thu, 07/11/2013 - 14:15 | Link to Comment 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.

*MORAL OF THE STORY: NO MATTER WHO YOU ARE, OR HOW IMPORTANT YOU THINK
YOU ARE, YOU WILL FIND THAT IT IS ALWAYS THE ASSHOLE THAT IS IN
CHARGE.*

Thu, 07/11/2013 - 14:24 | Link to Comment Yes_Questions
Yes_Questions's picture

 

 

How appropriate mid work day, at the cube..

++ ((0))

 

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

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

https://www.youtube.com/watch?v=J-YVt4gfquA

Thu, 07/11/2013 - 14:29 | Link to Comment 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 | Link to Comment max2205
max2205's picture

Rick is for sure, on the No Fly List

Thu, 07/11/2013 - 14:33 | Link to Comment 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 | Link to Comment Welder
Welder's picture

Not quite domestic....

Thu, 07/11/2013 - 16:05 | Link to Comment Welder
Welder's picture

Not quite domestic....

 

Thu, 07/11/2013 - 13:54 | Link to Comment 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 | Link to Comment prains
prains's picture

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

Thu, 07/11/2013 - 14:03 | Link to Comment 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 | Link to Comment U4 eee aaa
U4 eee aaa's picture

Debt slaves

Thu, 07/11/2013 - 15:23 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.

-Chumblez.

Thu, 07/11/2013 - 14:41 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Zer0head
Zer0head's picture

love these rhetorical questions

Thu, 07/11/2013 - 15:03 | Link to Comment 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 | Link to Comment Silveramada
Silveramada's picture

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

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

I'm on that Rick Santelli and alcohol.

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

Isn't plurality and monarchy mutually exlusive?

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

Bingo.

Thu, 07/11/2013 - 20:13 | Link to Comment 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 | Link to Comment 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 | Link to Comment francis_sawyer
francis_sawyer's picture

Damn Bangladeshis!

Thu, 07/11/2013 - 13:54 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Panafrican Funk...
Thu, 07/11/2013 - 15:57 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.

 

Thu, 07/11/2013 - 16:10 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Treasuries will be last man standing in the paper game. They have to be or else everything else no longer matters including the FED once the US government no longer exists. They can't control the anger and weapons from being turned on them and in turn the whole finance and banking industry by the low class peons at that point. You think the military or what is left of it is going to take their toilet paper let alone provide them with any sort of protection when they can use their guns to take whatever they want by force and no longer constrained by a bunch of bureaucrats. Not only that what will the FED bring to the table at that point that the Scotts company doesn't already manufacture and manufacture better and with a larger variety of tangible useful things. The FED is fucked with a capital F at that point.

Thu, 07/11/2013 - 13:44 | Link to Comment Tenshin Headache
Tenshin Headache's picture

Perhaps we can divine his allegiances by reviewing the ownership of the Federal Reserve.

Thu, 07/11/2013 - 14:33 | Link to Comment francis_sawyer
francis_sawyer's picture

Remember, fellow ZH'ers... Thou shalt only 'junk' francis_sawyer comments [in the future] for asking the same question...

<== <CLICK HERE. if you'd like to apply for the 'water carrier' job opening & enjoy that salty taste of balls in your mouth>

~~~

Edit: Since there appear to be a lot of 'takers' on that... If anyone wants ~ I'll try & find a nice recipe of gefilte fish & salty balls... [& have it served at your upcoming Hamptons Luau]...

Thu, 07/11/2013 - 15:04 | Link to Comment MsCreant
MsCreant's picture

How do you know they are salty? ;-)

Thu, 07/11/2013 - 15:29 | Link to Comment francis_sawyer
francis_sawyer's picture

Legend has it... [but I'll bow to your expertise ~ & HERE'S the 'recipe' I promised]...

~~~

http://www.youtube.com/watch?v=w24Xd8fVlTU

Thu, 07/11/2013 - 15:50 | Link to Comment prains
prains's picture

if you can't find any chocolate during the nuclear winter try these balls;

 

http://www.youtube.com/watch?v=-QCCnEbCS4U

Thu, 07/11/2013 - 15:32 | Link to Comment kaiserhoff
kaiserhoff's picture

West Virginia mountain oysters?  or worse...

Thu, 07/11/2013 - 15:45 | Link to Comment francis_sawyer
francis_sawyer's picture

the latter [I'm guessing]...

Thu, 07/11/2013 - 15:34 | Link to Comment FightingtheFed
FightingtheFed's picture

You just mad because Obama has done a great job on the economy!

 

Obama is the smartest President ever.. Everybody makes money under Obama.

Thu, 07/11/2013 - 15:40 | Link to Comment thismarketisrigged
thismarketisrigged's picture

obama is the biggest piece of shit to roam this planet. 

 

he has done nothing good.

 

this is why i hope this thing comes unraveling under his presidency, because the man has gotten away with so much fucking shit, he deserves to fucking suffer real bad.

 

nothing would be more deserving for this fucking bastard than for the economy to crash so bad making 2008 look like a picnic, right before he leaves. 

 

 

Thu, 07/11/2013 - 13:41 | Link to Comment samsara
samsara's picture

The question has merit.   I wish he would have filled in the answer for America.

The Private Corporation called the FED is OWNED by the big banks.   In the US and Europe.

In essence,  He is working for those whom the Fed Chairmans have always worked for.

David Rockefeller,  Rothchilds,  et al.

 

Thu, 07/11/2013 - 13:53 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

People will reject it if you tell them the answer.  You have to get people to ask themselves the question.  Hopefully 5 or 10% actually look into it, and find ZH specifically, or more about usurious fractional reserve banking banking cartel.

Thu, 07/11/2013 - 13:42 | Link to Comment optimator
optimator's picture

Who's he working for?  Just check out his notification list for where he's planning to move markets each day.  Why, with NSA, FBI, NSO, RSO, USO, it shouldn't be very difficult.  Lets do it.

Thu, 07/11/2013 - 13:41 | Link to Comment 1000yrdstare
1000yrdstare's picture

Is Santelli that naive?, He should know who he works for, "THE ONES THAT SHALL NOT BE NAMED!"

(remove tinfoil hat)

Thu, 07/11/2013 - 13:54 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

But....but.....but the Federal Reserve act was passed by Congress and the Fed Chairman testifies twice a year to Congress. And he (or she) works at the pleasure of the president. Plus the word "Federal" in "Federal Reserve" means Bernanke is working for "We the People".

Right? RIGHT? RIGHT?

<Please tell me another lie Daddy so that I may believe it is the truth.>

Thu, 07/11/2013 - 14:37 | Link to Comment combatsnoopy
combatsnoopy's picture

Congres is the glorified pimp.  They pimp us out to K&J Streets.  Congress is their vehicle. Ghost ride that whip Daddy!

Thu, 07/11/2013 - 15:17 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

"Plus the word "Federal" in "Federal Reserve" means Bernanke is working for "We the People".

 

Then I've found that you have to ask exactly who is "We" in We the People.

 

I've never met Mr. We, whom has managed to rack up 17 Trillion dollars in debt(whatever a dollar is). And I've been led to believe that he did it in my name, which of course is impossible. Anyway, if I manage to catch up with Mr. We someday I've got some questions for him.

Thu, 07/11/2013 - 14:15 | Link to Comment ArkansasAngie
ArkansasAngie's picture

Personally ... I don't take my tin foil hat off

Thu, 07/11/2013 - 15:23 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

Do you happen to have any Conspiracy "Theories" left for us that remain...... just a theory?

 

I don't think there's many of those left, if any! Okay, maybe Contrails.

Thu, 07/11/2013 - 16:17 | Link to Comment Bring the Gold
Bring the Gold's picture

Look up geo-engineering. Parts of Europe banned it.

Thu, 07/11/2013 - 15:38 | Link to Comment FightingtheFed
FightingtheFed's picture

Don't be hating on God's chosen.. They are just real wise when it comes to money.. They are very had workers and extremely intelligent. And generous too! Bernanke just wants what's best for us Americans. He's trying to save us.

Thu, 07/11/2013 - 15:38 | Link to Comment FightingtheFed
FightingtheFed's picture

Don't be hating on God's chosen.. They are just real wise when it comes to money.. They are very had workers and extremely intelligent. And generous too! Bernanke just wants what's best for us Americans. He's trying to save us.

Thu, 07/11/2013 - 13:43 | Link to Comment CheapBastard
CheapBastard's picture

Rising Mortgage Loan Rates Continue Upward Trend

 

The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a drop of 4% in the group’s seasonally adjusted composite index, following a drop of nearly 12% for the previous week. For the second week in a row, rates for all types of fixed-rate loans rose by at least 10 basis points during the week.

 

The seasonally adjusted purchase index decreased by 3% from the last report. On an unadjusted basis, the composite index dropped by 23% week-over-week.

 

http://finance.yahoo.com/news/rising-mortgage-loan-rates-continue-112533...

 

I'm gonna take a wild guess and say MSM feel this is a "Bullish" sign?

Thu, 07/11/2013 - 13:43 | Link to Comment McMolotov
McMolotov's picture

Ben Bernanke's workin' for the weekend. </Loverboy>

Seems like he's phoning it in, just coasting along, trying to keep the system afloat until he can exit stage left. He knows how this story ends.

Thu, 07/11/2013 - 13:45 | Link to Comment 101 years and c...
101 years and counting's picture

I wish nothing but the best for Bernanke in retirement.  A brand new noose to hang him with?  Ultimate gasoline to pour on him before lighting a match.  A bottle of Advil to swallow instead of the generic brand.  You get the point.

Thu, 07/11/2013 - 15:07 | Link to Comment MsCreant
MsCreant's picture

No fair, Greenspan needs your love too.

Thu, 07/11/2013 - 13:45 | Link to Comment LongBalls
LongBalls's picture

Santelli knows the answer: Chairsatan is working for the people who own him, the banks, and the largest corporations. Same as Obama, same as congress, same as you and me. Everytime we cash a check or use thier toilet paper in exchange for goods and services we give them a wink.

Thu, 07/11/2013 - 14:32 | Link to Comment 24KGOLD FOIL HAT
24KGOLD FOIL HAT's picture

You got the Macro, Balls. 

The Micro is Mr. Bernanke was told to say "TAPER" a few weeks back.  This was after his masters had opened their positions to profit from that big move.

This week, he was ordered to say "PARTY ON" after his masters had positioned to profit from $ down, gold up, Euro up, Pound up, etc.

These "statements" allow the frontrunners to make billions.  Which costs pension funds, retirement funds to lose billions.

See Ron Paul on winding down Fed Reserve power.

Fri, 07/12/2013 - 19:07 | Link to Comment LongBalls
LongBalls's picture

Agreed. I posted on another thread that the Bernank was just flapping his gums to let air out of the bubble. It is amazing how short our memories are. The EU has and is doing this almost daily. The threat of tapering is just as effective as tapering. It is verbal inflation control for commodities. Those in the know understand that the Fed only has one game. Print....that's it. If printing stops the US government defaults and they loose thier power structure. Not going to happen.

Thu, 07/11/2013 - 21:37 | Link to Comment AynRandFan
AynRandFan's picture

When you have an army, and an IRS, the banks work for you.

Thu, 07/11/2013 - 13:45 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Enough of this guy already. If he can't connect the dots and call people out, then fuck him.

This is becoming a joke.

Thu, 07/11/2013 - 14:03 | Link to Comment ebworthen
ebworthen's picture

He has to walk a fine line if he wants to have a place on the stage and be able to ask questions like these.

I have no doubt he has connected the dots; if he called it out versus asking questions he would be gone.

It is a joke, but we have to be thankful that actors who disagree with the King have some voice left.

Thu, 07/11/2013 - 14:28 | Link to Comment FEDbuster
FEDbuster's picture

They let Santelli rant, because no one is watching CNBC.  If someone would offer to give Santelli five minutes at half time of the Superbowl, then They would have to hot tub, car wreck, gas leak explosion, etc... him.

Thu, 07/11/2013 - 13:45 | Link to Comment The Proletariat
The Proletariat's picture

It sounds like Santelli has some unintelligent friends if they believed things were better at election time

Thu, 07/11/2013 - 14:01 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Nah. They just all live in Manhattan, go to the nice places, and see zero signs of anything bad happening to real people.

Thu, 07/11/2013 - 20:51 | Link to Comment Bay of Pigs
Bay of Pigs's picture

That is my beef with all of these jokers. The FED is killing the elderly with ZIRP, the middle class exporting jobs, and everyone else debasing the USD via inflation. I have never heard anyone on the BlowHorn suggest the FED should be eliminated or have it's powers on money creation restricted.

None of them ever tell the real truth of the grinding poverty and broken dreams in America. Easier to keep believing the lies and bullshitting the people with fairy tales. 

Thu, 07/11/2013 - 13:45 | Link to Comment NoDebt
NoDebt's picture

I need more cowbell.

Thu, 07/11/2013 - 13:49 | Link to Comment medium giraffe
medium giraffe's picture

Who is Bernanke working for?

Babylon. Same as you Santelli.

Thu, 07/11/2013 - 14:28 | Link to Comment john39
john39's picture

Truth. until people understand what that really means, this only gets worse.

Thu, 07/11/2013 - 13:47 | Link to Comment I am Jobe
I am Jobe's picture

GS

JPM

BRK

Soro's

LHM

United Tech

Not for the citizens of the USSA.

Thu, 07/11/2013 - 13:50 | Link to Comment JJ McApe
JJ McApe's picture

In other words, Bernanke will continue to borrow money from futue generations to keep the party going today. This type of short-term thinking is the reason why the US will eventually collapse.

Thu, 07/11/2013 - 15:37 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

If by collapse you mean reneg on all these promises made on behalf of future generations, then sure, eventual collapse is a certainty.   The key is NOT to be one of the people believing or counting on those promises (Medicaid, SS, hell, even food stamps and pensions).

Thu, 07/11/2013 - 13:51 | Link to Comment starman
starman's picture

if the US  "fedocratic" sysyem doesnt crack in the coming months we might as well move to China

Thu, 07/11/2013 - 13:51 | Link to Comment Duc888
Duc888's picture

"Who is he working for"?

 

  A private corporation dummy. 

 

 

 

Next.

Thu, 07/11/2013 - 21:34 | Link to Comment AynRandFan
AynRandFan's picture

He's a political appointee.  He works for the government.

Thu, 07/11/2013 - 13:51 | Link to Comment 1000yrdstare
1000yrdstare's picture

Awsome!, I got down arrowed by Rick Santelli!!!  

Thu, 07/11/2013 - 13:53 | Link to Comment Widowmaker
Widowmaker's picture

Bernanke sucks money Inc's dick.  No other facet of anything matters at all.

Savers go fuck yourselves.

Jobless/underemployed go fuck youselves.

Record bonuses for the .1%.

The rest eat cake.

Thu, 07/11/2013 - 13:56 | Link to Comment ebworthen
ebworthen's picture

Sometimes, the best way to make a definitive statement is to ask a question - in order to break through the permafrost of denail and delusion of the somnolent mind.

Statements don't require action, questions do.  Who is Bernanke working for? 

Not you, not me, not our children or grandchildren, nor for The Constitution.

Who is left?  The crony capitalists & the global cabal of parasitic bankers.

The politicians are complicit lapdogs who do not work for us either.

Welcome to plantation slavery, 21st Century style.

Thu, 07/11/2013 - 13:53 | Link to Comment Cheeseus Sonofdog
Cheeseus Sonofdog's picture

Bernanke is retiring. A better question is who is paying for his golden parachute?... Still, I didn't hear Bernanke say tapering is off the table.

Thu, 07/11/2013 - 13:54 | Link to Comment 1000yrdstare
1000yrdstare's picture

Rick, I know you are here.... you're next rant should include.....FUCK BERNANKE!!!!

Thu, 07/11/2013 - 14:01 | Link to Comment lasvegaspersona
lasvegaspersona's picture

FCSA?

Thu, 07/11/2013 - 13:55 | Link to Comment reTARD
reTARD's picture

Rick should know this. No one really works for any other people. Everyone, every individual ultimately works for his/her our good and survival just as everyone dies on their own.

Thu, 07/11/2013 - 14:00 | Link to Comment sgorem
sgorem's picture

wtf? how about some GOOD NEWS for a change?!? this whole perverted disaster will be just fucking history, in a CENTURY or two..................

Thu, 07/11/2013 - 14:29 | Link to Comment Toolshed
Toolshed's picture

"wtf? how about some GOOD NEWS for a change?!? the whole perverted human species will be just fucking history, in a DECADE or two.................."

FIFY

You are welcome.

Thu, 07/11/2013 - 13:59 | Link to Comment Nid
Thu, 07/11/2013 - 13:57 | Link to Comment eddiebe
eddiebe's picture

Come on Rick! Are you really that naive?

Thu, 07/11/2013 - 13:58 | Link to Comment reTARD
reTARD's picture

Where's our friend MDB? I'm ready. I have my cup of coffee (nose cleared) and am sitting in my mom's basement.

Thu, 07/11/2013 - 13:59 | Link to Comment eddiebe
eddiebe's picture

Oh, and get some anger management, while you go back to school. I'm sure you can afford it.

Thu, 07/11/2013 - 14:10 | Link to Comment resurger
resurger's picture

It seems you are not paying attention.

Thu, 07/11/2013 - 13:59 | Link to Comment optimator
optimator's picture

If Rick answered his own question you'd never see him again, he'd become what the old Soviet Union called a "Non Person".  Remember, if you can't talk about them they own you.

Thu, 07/11/2013 - 14:00 | Link to Comment wcvarones
wcvarones's picture

Who does #2 work for?

Thu, 07/11/2013 - 15:16 | Link to Comment MsCreant
MsCreant's picture

That's right buddy, you show that turd who's boss!

Thu, 07/11/2013 - 14:03 | Link to Comment Mad Mohel
Mad Mohel's picture

Santelli is a token piece kept on for his bullshit righteous anger schtick. If the motherfucker was really pissed, he would shit on the floor and walk out never to come back. Motherfuckin actor.

Thu, 07/11/2013 - 14:10 | Link to Comment Bastiat
Bastiat's picture

There's real value in having his voice heard by the sheep.  If he's just an actor, he's a good one and I like his character.

Thu, 07/11/2013 - 14:35 | Link to Comment Mad Mohel
Mad Mohel's picture

If the whole cast of the channel was exactly like Cramer, people would sooner see it for the circus that it is. Bullshitters like Santelli try to give the impression that the game is fair and there are opposing voices. Bullshit!!! All company men to the core.

Thu, 07/11/2013 - 14:01 | Link to Comment Seasmoke
Seasmoke's picture

The Tribe. 

Thu, 07/11/2013 - 14:09 | Link to Comment PierreLegrand
PierreLegrand's picture

The economy is racist

Thu, 07/11/2013 - 14:10 | Link to Comment Slipstack
Slipstack's picture

Could it be that Ben got order to stop any taper talk before the german election? If Spain or Italy deplete the ESM before the election Merkel might have a huge problem.

If they keep interest rates low until the election Merkel will get reelected with a big majority, the german constitutional court will probably rule that her policy is generally accepted by the people and she can go on with the ESM and other "stabilization", which means that more taxpayer money will keep the banking system alive.

I think there will be no more taper talk till the end of september. After that they will try again as Merkel can do whatever she wants to - which is save the Euro at any cost to the german taxpayer.

Thu, 07/11/2013 - 14:10 | Link to Comment ArkansasAngie
ArkansasAngie's picture

Agreed
Find your inner Edward Snowden
Lets hear names
I getting pretty darn tired of this wink wink nudge nudge shat

Thu, 07/11/2013 - 14:11 | Link to Comment f16hoser
f16hoser's picture

The Jewish-Nazi Oligarchy. There, "That Was Easy!"

Thu, 07/11/2013 - 17:00 | Link to Comment Lost Word
Lost Word's picture

Since the Monarchs/Oligarchs 2000 year claim of genealogical descent from the ancient Kings of the Jews.

Thu, 07/11/2013 - 14:16 | Link to Comment AustrianJim
AustrianJim's picture

The Treasury will pay back all the debt as soon as the economy bounces back, right?

Thu, 07/11/2013 - 14:18 | Link to Comment JohnnyDollar
JohnnyDollar's picture

Keep the pressure up Rick.

This stuff will continue until all the "bad paper" has been moved to the Fed's book....with the help of the FASB of course. (independence.  Really? I don't think so.)

Ben will let someone else worry about the treasury debt, so I don't think it's all about interest rates....except to the extent he can get a right hook to the jaw of Bill Gross....better be careful with next month's Outlook Bill; He might go for a +3% 10yr in August.

Unbelievable.

 

Thu, 07/11/2013 - 14:18 | Link to Comment Goldbugger
Goldbugger's picture

The other question is. Who is OBAMA working for?

Obama signs executive order to allow shut down of all US communications

http://www.examiner.com/article/obama-signs-executive-order-to-allow-shu...

Thu, 07/11/2013 - 15:01 | Link to Comment lakecity55
lakecity55's picture

Piece by piece, brick by brick, he has been updating and creating EOs since 2009.

When the last one is signed and implemented, he will have a Machine.

Then he will flip the switch and turn it on.

Pretty soon, we are going to find out just how much evil is really in those orders.

Thu, 07/11/2013 - 17:42 | Link to Comment samsara
samsara's picture

Simple.

Answer the first question and you answer your question.

Thu, 07/11/2013 - 14:19 | Link to Comment Yes_Questions
Yes_Questions's picture

 

 

C'mon Rick.

Just stop.

 

Al Jazeera U.S. won't have a financial show.  FOX Business worse off then CNBC.

 

You like Kudlow's office?  Move along now.

 

Thu, 07/11/2013 - 14:21 | Link to Comment pragmatic hobo
pragmatic hobo's picture

Bernanke and the Fed, like SCOTUS, POTUS, congress, etc, works for banks and corporations. The bottom 90% are slaves. People who still talk about middle class and etc etc really need to get their head out of their ass.

Thu, 07/11/2013 - 14:31 | Link to Comment El Hosel
El Hosel's picture

If Santelli even pretends to ask questions he is doing more than most.... Most of us Sheep don't talk at all.

Thu, 07/11/2013 - 17:04 | Link to Comment Lost Word
Lost Word's picture

Criminal Banks and Criminal Corporations for Criminal Governments.

Thu, 07/11/2013 - 17:23 | Link to Comment They trynna cat...
They trynna catch me ridin dirty's picture

"Banks and corporations" are made of nothing but people.

The question is, who are those people?

The answer: the same people who have been behind it for centuries.

Thu, 07/11/2013 - 14:28 | Link to Comment yogibear
yogibear's picture

Bubble Bernanke, Evans, Dudley, Fisher and Yellen all want to take the stock market back to their highs. Bubblize everything again. 

This bubble gongto be super big! Take it up all the way Fed banksters. Print like Zimbabwe.

Infinite in a finite world.

Thu, 07/11/2013 - 14:29 | Link to Comment orangegeek
orangegeek's picture

Santelli completes the dog and pony show.  Santelli talks fact, but he positions like he's the only one who understands.

 

I'd rather watch old Seinfeld shows for entertainment.

 

Giddy-up.

Thu, 07/11/2013 - 14:38 | Link to Comment CaptainSpaulding
Thu, 07/11/2013 - 14:34 | Link to Comment Inthemix96
Inthemix96's picture

If people are impressed by shirts and ties like santelli sounding off, and acting like bigmen, just wait till they meet a real one.

Not me by the way, but I know through my life experiences, and general folk I know, mr fucking santelli will shit his pants when he he meets some of 96's friends.

And before you meet them son, I will make them well aware of the problem you help persist.

You fuck entire countries over pigmen?  You will in short order, and in short time wish you hadnt.  Not everyone goes to work in a suit, and most folk I personaly know would give the likes of bernslankes, and santelli ten seconds as to why they dont kick the fuck out of them, after screwing them over.

Time will not be nice to TPTB, because little by little people like inthemix make more and more people aware of the scam we call life.  And as they realise this, they pass this on, its the hundreth monkey effect.

Its working.  Be aware pigmen, your time is running out faster than even I thought.

Cunts.

Thu, 07/11/2013 - 21:20 | Link to Comment AynRandFan
AynRandFan's picture

Wow.

Thu, 07/11/2013 - 14:36 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Rick------------> Bernanke is working for counterfeiters and deadbeat depositors.

 

 

 

Thu, 07/11/2013 - 14:36 | Link to Comment JR
JR's picture

Ezra Pound paid the price for ultimately revealing for whom Bernanke works – thirteen and a half years as a political prisoner at St. Elizabeth’s Hospital in Washington, DC, a Federal institution for the insane.

This, of a man who was a veteran of the U.S. Air Force with 38 months' active service during WWII, educated at no less than three universities and two institutions of the arts.

This, of a man of whom Ernest Hemmingway wrote:

Ezra was kinder and more Christian about people than I was. His own writing, when he would hit it right, was so perfect, and he was so perfect, and he was so sincere in his mistakes and so enamored of his errors, and so kind to people that I always thought of him as a saint… Ezra was the most generous writer I have ever known and the most disinterested. He helped poets, painters, sculptors and prose writers that he believed in and he would help anyone whether he believed in them or not if they were in trouble. He worried about everyone and in the time when I first knew him he was the most worried about T.S. Eliot who, Ezra told me, had to work in a bank in London and so had insufficient time and had bad hours to function as a poet.

Ezra founded something called Bel Esprit …the idea of Bel Esprit was that we would all contribute a part of whatever we earned to provide a fund to get Mr. Eliot out of the bank so he would have money to write poetry. This seemed like a good idea to me and after we had got Mr. Eliot out of the bank Ezra figured we would go right straight along and fix up everybody…

This is the man, Dr. Ezra Pound, who commissioned Eustace Mullins in 1948 to write Mullins On the Federal Reserve which reveals the owners and operations of the Fed.

While Mullins as a young man was visiting Pound in St. Elizabeth’s, Dr. Pound asked him if he “had ever heard of the Federal Reserve System.”

“I replied that I had not, as of the age of 25. He then showed me a ten dollar bill marked ‘Federal Reserve Note’ and asked me if I would do some research at the Library of Congress on the Federal Reserve System which had issued this bill. Pound was unable to go to the Library himself, as he was being held without trial as a political prisoner by the United States government. After he was denied broadcasting time in the U.S., Dr. Pound broadcast from Italy in an effort to persuade people of the United States not to enter World War II. Franklin D. Roosevelt had personally ordered Pound’s indictment, spurred by the demands of his three personal assistants, Harry Dexter White, Lauchlin Currie, and Alger Hiss, all of whom were subsequently identified as being connected with Communist espionage.”

Mullins’ book, researched at the Library of Congress, was reviewed daily and directed by George Stimpson, founder of the National Press Club in Washington of whom The New York Times called in 1952, “A highly regarded reference source in the capitol. Government officials, Congressmen, and reporters went to him for information on any subject.”

It was “the first nationally-circulated revelation of the secret meetings of the international bankers at Jekyll Island, Georgia, 1907-1910, at which place the draft of the Federal Reserve Act of 1913 was written.

Said Mullins, “I had no interest in money or banking as a subject because I was working on a novel. Pound offered to supplement my income by ten dollars a week for a few weeks. My initial research revealed evidence of an international banking group which had secretly planned the writing of the Federal Reserve Act and Congress’ enactment of the plan into law. These findings confirmed what Pound had long suspected. He said, ‘You must work on it as a detective story.’”

No foundation support could be found for the research after Pound’s funds ran low even though the foundation applications were sponsored by three leading poets of America, Pound, e.e. Cummins and Elizabeth Bishop. Then, after two years of research, when no publisher would or could touch it, two of Pound’s disciples, John Kasper and David Horton, used their private funds for its publication.

“In 1955, Guido Roeder brought out a German edition in Oberammergau, Germany. The book was seized and the entire edition of 10,000 copies burned by government agents led by Dr. Otto John.

“The burning of the book was upheld April 21, 1961 by Judge Israel Katz of the Bavarian Supreme Court.

“During the intervening years, the author continued to gather new and more startling information about the backgrounds of the people who direct Federal Reserve policies. New information gathered over the years from hundreds of newspaper, periodicals, and books give corroborating insight into the connections of the international banking houses.”

This culminated in publication of The Secrets of the Federal Reserve.

I have the third edition of this latter book printed in 1985 and “dedicated to two of the finest scholars of the twentieth century, GEORGE STIMPSON and EZRA POUND…”

HERE THEN, according to Mullins, ARE THOSE FOR WHOM BERNANKE WORKS:

“The shareholders of these banks which own the stock of the Federal Reserve Bank of New York (which sets the interest rates and directs open market operations, thus controlling the daily supply and price of money whose stockholders are the real directors of the entire system) are the people who have controlled our political and economic destinies since 1914.

“They are the Rothschilds, of Europe, Lazard Freres (Eugene Meyer), Kuhn Loeb Company, Warburg Company, Lehman Brothers, GoldmanSachs, the Rockefeller family, and the J.P. Morgan interests (Rothschild).” --  Eustace Mullins, The Secrets of the Federal Reserve, p. 34. Copyright 1983

Thu, 07/11/2013 - 14:52 | Link to Comment samsara
samsara's picture

Perfectedly stated JR.  

Good Job. 

Everyone should find a copy fo Mullin's "The Secret of the Federal Reserve"  and understand who their landlords are.

They are contained in JR's last paragraph...

Thu, 07/11/2013 - 18:56 | Link to Comment Treason Season
Treason Season's picture

At the very least one should watch some of his vidoes on the net, very enlightening.

On a sidenote, Mullins struck me as a Mandela type character, knowing all the evil the FRS is and yet still capable of laughing and smiling in the face of it.

R.I.P. Eustace

Thu, 07/11/2013 - 14:39 | Link to Comment icanhasbailout
icanhasbailout's picture

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

 

I was pointing this out in 2007. ZIRP exists because to do otherwise will blow the federal government budget all to hell. It's an extremely easy exercise - calculate what we're spending on interest at our current 1-2% rates ($250B/year or thereabouts) vs what we would have to spend in a normal interest rate environment.

 

At a modest blended interest rate of 5%, this wrecks the federal budget in no uncertain terms, forcing cuts to the tune of something the size of Medicaid or DoD. If interest rates hit the 7-8% range, debt service on $17 trillion dollars consume ALL government revenues, which would be a very interesting situation in terms of how they would manage to function at all.

 

But we're still adding debt at a massive rate, to the tune of $1T/year. Theoretically, that means debt service outstrips total federal revenue eventually anyway, although ZIRP can kick that can well down the road.

 

The implications could have me typing for quite some time, spelling them all out. But you're all clever folks who can do math, so I'm sure you can work them out yourselves.

Thu, 07/11/2013 - 14:43 | Link to Comment lakecity55
lakecity55's picture

So the choice was between normal working markets and..........socialism.

 

All that destruction for some votes and free cell phones.

Thu, 07/11/2013 - 16:11 | Link to Comment newworldorder
newworldorder's picture

Not aonly that, but it keeps the torches and pitchforks from coming out. Its either financial socialism or anarchy in the streets. Not only in the US but Europe as well. Look at what  Bennie has accomplished with his various SWAP lines in europe. He is keeping them afloat as well.

Worldwide - It its one big game of ALL or Nothing. Any questions?

Thu, 07/11/2013 - 14:39 | Link to Comment Bokkenrijder
Bokkenrijder's picture

"Boatloads of unsustainable debt?" I never heard Rick use the word 'unsustainable."

Thu, 07/11/2013 - 15:38 | Link to Comment knukles
knukles's picture

Well, it is a big word for us bond guys...
More than 2 syllables and it starts to look female and upright...

Thu, 07/11/2013 - 14:40 | Link to Comment Bunga Bunga
Bunga Bunga's picture

Mossad?

Thu, 07/11/2013 - 14:43 | Link to Comment thismarketisrigged
thismarketisrigged's picture

santelli better bring his A game on closing bell exchange today.

 

i want to see him get into it with some of the douchebags who will prob say that the economy is improving and stocks are fairly valued and still have room to go higher.

Thu, 07/11/2013 - 14:50 | Link to Comment Yen Cross
Yen Cross's picture

     Bernanke has lost any credibility that he may of had. No one will take that {2 headed hydra} seriously after he completely "FISTED" dollar longs yesterday. The markets are at all time highs, and CL is down almost 2$.

      That asshole better call the guy that built Corzines moat. Lord knows he's gonna need it!

Thu, 07/11/2013 - 14:51 | Link to Comment dermlord
dermlord's picture

He's working for Jeff Bezos. AMZN over $300/share, added more in market cap today than entire earnings in 19 years of existence.

Thu, 07/11/2013 - 14:55 | Link to Comment Hongcha
Hongcha's picture

I don't share the love for this guy.  He's on a leash like the rest of them.

Do NOT follow this link or you will be banned from the site!