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QE Whistleblower Warns "We Are Eerily Similar To 2008"

Tyler Durden's picture





 

Following his inconvenient truthiness yesterday, Andrew Huszar appeared on Bloomberg TV today (having dismissed the comic-book-written discussion he faced in CNBC's Fast Money yesterday). As usual Bloomberg gave him more time to speak, listened, and challenged some of what he said, but we were struck by the man-who-ran-the-Fed's-mortgage-book's points that "we are eerily similar to 2008." Simply out, he implores, "the structure of our economy has not changed," and his apology (on behalf of the Fed), is because the Fed "helped squander an opportunity to see change in America." The fact of the matter, this was folly, "The Fed does not have the ttols to help the economy."

 

What else could Bernanke have done?

QE1 at the time was defensible... but as we progressed, very quickly we began to see it was not working

So why wasn't a decision made then to change course?

That's a very good question and why I felt compelled to write this apology to America...

 

This was a program that was devised to help mortgage lending in America... mortgage lending decreased in that time...

 

Instead what we saw was massive Wall Street earnings

When should the Fed have stopped?

The Fed should have stopped after QE1 - when it was clear it wasn't working - instead it has bought $2.5 trillion more bonds and put itself in a position where the exit is very uncertain...

 

...

 

Ultimately the tools [the Fed] has at its disposal don't work, and what it has done instead is enable a "crisis-driven" political system

 

Must-watch follow-up to his Op-Ed... Ensure you listen to the last 60 seconds... "What the US needs is reform and change - not more easy money."

 


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Wed, 11/13/2013 - 22:39 | Link to Comment HedgeAccordingly
HedgeAccordingly's picture

Gander this chart.... 400 more SP points? http://hedge.ly/1fCbWyG

Wed, 11/13/2013 - 22:40 | Link to Comment NotApplicable
NotApplicable's picture

Gee, another "Oops, we did it again" confession from the newb du jour.

The beast marches on.

Wed, 11/13/2013 - 22:43 | Link to Comment schoolsout
schoolsout's picture

Yea, I don't buy it

 

plausible deniability is the name of the game in plots such as these

Wed, 11/13/2013 - 22:48 | Link to Comment King_of_simpletons
King_of_simpletons's picture

This guy is trying to sell a book, right ? Everything makes sense now.

Wed, 11/13/2013 - 23:19 | Link to Comment LetThemEatRand
LetThemEatRand's picture

He's trying to sell three things:  1) that the Fed had good intentions in the first instance (it did not); 2) that when the SHTF he was one of the smart ones who called it (they always trot out guys like this before something happens, to make the point that there was disagreement among those "trying to help us"); and 3) a book (yes).  

Thu, 11/14/2013 - 00:16 | Link to Comment markmotive
markmotive's picture

If you understand banking you'll understand how the system is bound to collapse.

Chris Martenson and Mike Maloney on the biggest scam in the history of mankind:

http://www.planbeconomics.com/2013/11/chris-martenson-and-mike-maloney-o...

Thu, 11/14/2013 - 05:47 | Link to Comment new game
new game's picture

THE "TOOLS" ARE POLICY! unfettered markets, unmanipulated, but regulated by citizen serving honest people.

it is the money trail.

one policy that could be the biggest change would be the corp tax structure on foriegn produced goods.

enuf as iT aint gonna happen folfs- prepare for the worst, it is beyond retrival-even if the "right" policy was implimented fucking YESTERDAY...

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

"I have great respect for the Fed" what a fucken posser- done listening to this gilt ridden mutha fuck right there...

ponzi debt to contol syst, with very little one can do, scheme, until people wake up and take back the system...

hopeless til, violence to overcome the threat of violence(to comply)ie(rad maryjane posts). simple-don't confuse it up in your mind!

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

 

 

"I have great respect for the Fed"

 

Most cult members do.....it's sorta the rules.

Thu, 11/14/2013 - 08:06 | Link to Comment new game
new game's picture

cutting the chase "are you ready for some violence" and not the monday night type.

Thu, 11/14/2013 - 10:33 | Link to Comment smlbizman
smlbizman's picture

i loved how the bimbos were trying to give him info that they must have gotten from cnbc...they really think they know something...

Wed, 11/13/2013 - 23:36 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I obviously haven't polygraphed him, but I actually tend to think he's sincere in his comments (just a gut feeling). He's probably partially motivated to be able to say that at least he came clean before it all comes crashing down again, too.

We are a combination of Japan & the U.K. at this point; our economy is undergoing a structural hollowing out in real value-added productivity similar to the course the U.K. has taken, where the FIRE portion of the economy suppresses actually net-beneficial sectors of the economy (e.g. high tech manufacturing) because the financial lobby has grown so powerful and because this is the only way a net-debtor nation can keep from having to reinvent the structure of its economy & deal with its core debt crisis (accumulated & continuing) in a way that's similar to kicking the can; IOW, instead of addressing the core, systemic disease now, which would require taking some bitter medicine that would inevitably cause many people to suffer deeply over a specific time frame, it's politically easier to sell out to the banking/financial lobby, and simmer the frogs slowly, reducing their standard of living in a consistent and persistent manner, hoping that debt-derived direct transfer payments to the increasingly impoverished soften the blow and keep the shrinkage of the middle class to a level that prevents some form of political and/or societal revolution.

It goes back to something Keynes wrote, ironically:

"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become ‘profiteers,’ who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

--John Maynard Keynes on inflation in The Economic Consequences of the Peace (p. 235-6)

Thu, 11/14/2013 - 00:20 | Link to Comment HardAssets
HardAssets's picture

TruthInSunshiine - you actually believe its about 'economics' ?

Its about robbery.

The various 'isms' are just a smoke screen.

 

Thu, 11/14/2013 - 00:40 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I think the quote from Keynes I cited along with the concept/mechanics of Harvest as elucidated in 'The Creature From Jekyll Island' are essentially what it's all about.

If people can wrap their minds around those two concepts and truly understand the fundamental dynamics they utilize, they're pretty much wise to the scam that is the fractional reserve monopoly fiat economic/banking Ponzi Scheme.

Thu, 11/14/2013 - 01:59 | Link to Comment Skateboarder
Skateboarder's picture

Human beings are two things: gardeners, and artists, in that order. The true free expression of human development lies in the availability of personal arable land, availability of raw materials and resources, and an open knowledge resource base accessible to everyone. When a human decides to create, whether planting a seed or writing a song, it is usually a good thing. Do not be fooled by destruction masked as creation. The snake is sly.

Thu, 11/14/2013 - 02:08 | Link to Comment LetThemEatRand
LetThemEatRand's picture

With every breath we take trying to call it out, we must exhale.  Upon the exhale, the snake constricts further.  

Thu, 11/14/2013 - 06:36 | Link to Comment new game
new game's picture

good one! the snake consumes whole bodies...

waits patiently for the next victum.

slide out of his or her old skin to become a new snake-same snake.

same as the old.

"i'm a student of the depression-same snake, new skin...

Thu, 11/14/2013 - 07:56 | Link to Comment unrulian
unrulian's picture

I'll go back to something Maynard James Keenan wrote:

 Some say the end is near. Some say we'll see armageddon soon. I certainly hope we will. I sure could use a vacation from this bullshit three ring circus sideshow of Freaks here in this hopeless fucking hole we call LA The only way to fix it is to flush it all away. Any fucking time. Any fucking day. Learn to swim, I'll see you down in Arizona bay

http://www.youtube.com/watch?v=uCEeAn6_QJo&feature=kp

 

 

Wed, 11/13/2013 - 23:41 | Link to Comment SMG
SMG's picture

Dear Mr Apologist, turn in your bosses and let's interrogate them.   Keep going until the top of the pyramid is exposed and brought to justice.  Until then you're just trying to deflect blame from your masters.

Thu, 11/14/2013 - 07:42 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Barbie and Ken are so confused!

Thu, 11/14/2013 - 02:39 | Link to Comment TheReplacement
TheReplacement's picture

One would think these people would start to catch on to the fact that it is all deliberate.  How it will actually play out in the end is yet to be seen but I'll throw out a guess.

The current social-fascism will continue to suck wealth out of the poor and middle class and deposit it all with the rich.  Running along side this effort is the expansion of both dependency on government and government control.  Once the tipping point is reached a real crisis will be initiated.  Government will point the finger at the rich and say 'look at how they have ruined everything.  We need to intervene and save the day like we did in 2008.  After that, game over.

In my theory they are giving the perception of corporatization, fascism.  I believe this is just a means to an end.  Economic power and the resulting blame is being handed to the corps and banks.  The corps and banks are eating this up because they are getting rich today.  What the corps and banks don't realize is they don't actually have any power at all.  The people with guns have the power.  When the time comes the corps and banks will be lined up and shot.  They are the new useful idiots.  Good riddance.  Don't bother digging a hole.  Just dump them in the Indian ocean with Osama as they are no better and deserve no better.

How this plays out on the world stage is beyond me.  I suspect the US will be isolated but not molested.  Who will mess with a superpower armed to the teeth with conventional weapons and weapons of mass destruction?  Unless there is a successful revolution the US will quickly and irrevocably change into a communist dictatorship and scores of millions will be re-educated or buried.  Many more will simply starve.

I always wanted to live through an epoch level event.  Weeee!

Thu, 11/14/2013 - 03:34 | Link to Comment jeff montanye
jeff montanye's picture

looking back through history, most of the time the people with the actual guns look more like employees and dupes than they look like the ones in control.

Thu, 11/14/2013 - 03:53 | Link to Comment Arbeit_Macht_Frei
Arbeit_Macht_Frei's picture

The FED and QE is just like the Manhatten Project. Guys like this and I'd even say Bendonkey are too low level to know what the real goals of the project are (and they'd never believe it anyway), which is to create a blended Marxist/Fascist NWO finally brought about after a massive global crisis, the plan is to first totally destroy all faith in capitalism and after immense global misery, possibly even WWIII the people will demand a new financial model/saviour and in steps Communism V2.

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

where can i go to avoid the results? deep in the amazon? timbuktoo? any desert? an igloo? hot air ballon with self loofing sun rays and collector? under the ocean? mars? pepetual motion? fucken-eh help me with answer and don't tell anyone where that is...

Thu, 11/14/2013 - 05:25 | Link to Comment mrdenis
mrdenis's picture

His I'm sorry was better than the Moozlum's I'm sorry ....but so what 

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

Dr Watson

 

"what took you so long Sherlock"?

Thu, 11/14/2013 - 09:15 | Link to Comment azzhatter
azzhatter's picture

I love how these assholes pretend they didn't know that all QE does is aid the 1'%ers. This was the plan all along. As GC said- It's a big club and you ain't in it

Wed, 11/13/2013 - 22:57 | Link to Comment Deathrips
Deathrips's picture

Imaginary unicorn shit has been fueling this baby since 2008, take away the imaginary (fiat) and we never left.

 

What a dumb fucking bitch.

 

Silver Bitchez!!

 

RIPS

 

Edit: I got junked for imaginary unicorn shit? How the hell does that happen? Yes we are 50x (in paper) worse than we were in 2008, but by the same token its all been imaginary value since 1971? Junk that bitch.

Wed, 11/13/2013 - 23:04 | Link to Comment joego1
joego1's picture

Silver on sale on on isle 13.

Wed, 11/13/2013 - 23:10 | Link to Comment Oldwood
Oldwood's picture

Everyone knows unicorns shit skittles.

Wed, 11/13/2013 - 23:54 | Link to Comment Moon Pie
Moon Pie's picture

I did not know Unicorns shit Skittles.  I almost blew out a good Cabernet through my nostrils when i read such a supposition/propsition so put by you.   Thanks. 

Must continue...the name "Huzsar" is essentially the same in the Hungarian and would be plainly understood all across Europe as "Hussar", or.."Light Calvaryman".  Knowing as I do a bit about military history...light calvary's main mission was to be either first contact or recon for the larger force, regardless of its structure. 

I hereby posit, by circumstance, fact, and nature of the conditions precedent and otherwise that this fucker is truly a "Hussar", flying up his weather balloons, observing, providing observation, reporting back, and taking notes as to the real assault that is to come. He ain't no Mathias.  No real contrition...actually...the more he talks, the more apologetic he gets.  HE IS ONE OF THEM...make no mistake.

Strategize accordingly.

 

General Moon Pie

 

 

Thu, 11/14/2013 - 02:26 | Link to Comment TBT or not TBT
TBT or not TBT's picture

And piss Arizona Iced Tea watermelon fruit cocktail.

Wed, 11/13/2013 - 23:24 | Link to Comment Lore
Lore's picture

The thinking of these people is upside down. What ever happened to NOT LENDING TO BAD DEBTORS?  WHEN DID FAILURE STOP BEING A PERFECTLY LEGITIMATE OPTION?  What does it take to make people stop thinking in terms of INFINITE EXTENSION OF INFINITE CREDIT?  WHAT WILL IT TAKE TO STOP THIS OUT-OF-CONTROL BANKING MONSTER? It's like talking with "Greens," who twist the concept of "sustainability" into a crusade to stop individuals from making their own decisions.  WHAT MAKES THESE PEOPLE THINK THEY CAN PLAY GOD WITHOUT CONSEQUENCES?  WHEN DID "MARKET" BECOME A BAD WORD?

A slap should go to the guy with the blue tie for interrupting constantly.

Wed, 11/13/2013 - 23:36 | Link to Comment yatikto
yatikto's picture

money is credit.  no credit = deflation

its, a.. how you say.. foo bar?

 

Thu, 11/14/2013 - 01:43 | Link to Comment TruthInSunshine
TruthInSunshine's picture

It doesn't matter that they are lending to poor risk borrowers when that which they're lending has no inherent value and costs nothing to produce, and that which they are receiving as security/collateral for this loan of fiat credit has real, inherent value.

In the event of a borrower's default on any particular loan of fiat credit, these member banks will simply be re-supplied with electronic fiat deposits to replace anything they marked as a loss, and at minimum, they already have (for purposes of this case we will keep the numbers conservatively simple) 9 fiat dollars of loans to other borrowers who,for the most part, have pledged assets having real, inherent value, in order to secure their loans of fiat from the bank.

Worse case scenario is that the syndicate bank declares a default, reloaded the thing of actual value purchased with the fiat credit it loaned, and if there's a gap between the nominal value of the thing repossessed and the nominal Vladimir the amount of fiat credit loaned, the bank has a deficiency that they can turn into a money judgment (in some cases not even having to litigate the matter in a court of law).

Thu, 11/14/2013 - 07:45 | Link to Comment Sorynn
Sorynn's picture

All of which is well documented by Griffin.

Thu, 11/14/2013 - 03:55 | Link to Comment Acet
Acet's picture

Deflation means that over time things cost fewer monetary tokens to purchase.

It is the natural way of things in a system which is becoming more productive (i.e. more things can be done with the same effort) or in other words, when GDP is trully growing.

Deflation benefits and promotes the behaviour of delaying self-reward, which is one of the human traits more closelly correlated with success.

 

Unless what you want is a consumer driven society (with all it's inherent problems of waste, debt servitude, resource overconsumption, etc), then there is no problem in having deflation - quite the contrary: it's a reflection of healthy improvements in production.

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

still comes back to an idiot signing the line for more credit(debt money creation) and locking us all into this debt servatude system of monetary control. collateral doesn't even mater anymore. create moar debt to make up losses and securitize it and off load it and "keep the system whole" for another day -wow...fed ready and helping to create loses to mop it up. fucken - eh. genius!

Thu, 11/14/2013 - 03:00 | Link to Comment Dr. Bonzo
Dr. Bonzo's picture

Yep. We've been seriously disenfranchised. I have no suggestions or answers. Buy gold. Buy silver. That's the best we can do.

Thu, 11/14/2013 - 03:36 | Link to Comment evokanivo
evokanivo's picture

Are you sure that's all we can do? Isn't it time for someone to throw in another plug for ButtCoin?

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

good dr. ,there is an answer, but are you willing and able to do the task?

Thu, 11/14/2013 - 09:08 | Link to Comment g speed
g speed's picture

finally the point is made  ----  +TU  let me add that the winds of change are blowing and remember change is the only constant.

Wed, 11/13/2013 - 22:46 | Link to Comment Bay of Pigs
Bay of Pigs's picture

"we are eerily similar to 2008".

No, it's much worse than 2008.

Wed, 11/13/2013 - 22:50 | Link to Comment The Gooch
The Gooch's picture

1913, 1929 and 1984, even.

Thu, 11/14/2013 - 01:13 | Link to Comment Unprepared
Unprepared's picture

History doesn't repeat, it rhymes with defeat

No, wait a minute, I think I lost the count of my feet

Wed, 11/13/2013 - 22:54 | Link to Comment NotApplicable
NotApplicable's picture

There is no escape. Mises will not be denied.

Wed, 11/13/2013 - 23:26 | Link to Comment BandGap
BandGap's picture

There is a very simple way out - give the money back.

I said simple, not easy or thinkable. But it would work.

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

I have a better idea. Go Hungarian and lose your central bank altogether.

(Yeah, it's old news from August and I only saw it today so I don't know if it's even true. And it's prolly just more fiat anyway. But to me it was a feel-good story so here it is just for fun.)

Excerpt:

http://americanfreepress.net/?p=12418

Hungary Sheds Bankers’ Shackles August 23, 2013 AFP

• International Monetary Fund told to vacate the country; nation now issuing debt-free money

By Ronald L. Ray

Hungary is making history of the first order.

Not since the 1930s in Germany has a major European country dared to escape from the clutches of the Rothschild-controlled international banking cartels. This is stupendous news that should encourage nationalist patriots worldwide to increase the fight for freedom from financial tyranny....

- See more at: http://americanfreepress.net/?p=12418#sthash.0o9wq5Xu.dpuf

Thu, 11/14/2013 - 00:45 | Link to Comment walküre
walküre's picture

Awesome!

Thu, 11/14/2013 - 03:13 | Link to Comment PhilofOz
PhilofOz's picture

Wow!! Where was I when this news came out in August? "dared to escape....." is so true, Isn't this Hungarian Prime Minister next in line for an assassins bullet? Scary is the power of the Rothschild empire!

Thu, 11/14/2013 - 04:21 | Link to Comment Renfield
Renfield's picture

PhilofOz, you were probably the same place I was...in the dark. I just found that today and it was news to me. I tried to one-minute search it but came up bupkis, so apparently the MSM never heard about it either. (Which kinda gives me more faith that it's true, but.) Gonna wait till I have some time for a proper look.

I was hoping when I mentioned it on here some of the Hedge regulars might have heard about it. Was even prepared to endure the slings and red arrows of "Turn off Dancing With the Tards, ZH covered this last AUGUST!" or "You fell for that rumour? sheeeeeeeep" just to get some info. But all I got was a few greens so...

...maybe it's true.

The fact that I want it to be true makes me think it prolly isn't. Guess I'll have to do my own homework on this one.

So. Um. Fight Club. Default to the following Hedge reply:

It's old news, buddy. You should have turned off Dancing With the Tards.

Thu, 11/14/2013 - 08:03 | Link to Comment new game
new game's picture

overcome the roths. tall order, when they are in charge-it will be violent!

all i can say...

Wed, 11/13/2013 - 22:46 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Bloomberg is not perfect and they have advertisers to please, too -- but they are significantly superior to the rest.

Wed, 11/13/2013 - 22:52 | Link to Comment ultimate warrior
ultimate warrior's picture

We need "capital account" with lauren lyster back! God I miss those legs that show.

Wed, 11/13/2013 - 22:48 | Link to Comment TheBoyPlunger
TheBoyPlunger's picture

He will be dissappeared quickly.

Wed, 11/13/2013 - 22:52 | Link to Comment Dr. Engali
Dr. Engali's picture

No he won't. You don't just get two back to back fed heads just come out criticizing the fed. This is planned, for what reason I don't know.

Wed, 11/13/2013 - 23:02 | Link to Comment TheBoyPlunger
TheBoyPlunger's picture

Of course it's planned. He must be dissapeared after this dog and pony show to make sure he doesn't change his story later. Just like if you carry out a serious crime with a partner, afterwards you get get rid of said partner.

Wed, 11/13/2013 - 23:45 | Link to Comment Keyser
Keyser's picture

They are hanging Bernanke out in the breeze... He's going to take the hit on the way out the door. In fact, he shouldn't tarry lest it hits him in the ass. 

Thu, 11/14/2013 - 09:16 | Link to Comment g speed
g speed's picture

Good Dr----the plan is throwing the Bernake under the bus. Its the FED survival plan. Its pretty evident to me that there are two expendibles at this time  --the afore mentioned and Obozo. 

Wed, 11/13/2013 - 23:02 | Link to Comment joego1
joego1's picture

Yep, sounds like they are going to pull the plug pretty soon and let the chips fall where the may. Or maybe they realize that they have no control anyway. At any rate it will be Yellen's fault.

Wed, 11/13/2013 - 23:40 | Link to Comment yatikto
yatikto's picture

exactly,   setting expectations.    its like pulling off a bandaid.

Wed, 11/13/2013 - 23:47 | Link to Comment CrazyCooter
CrazyCooter's picture

isnt she always wearing black these days? Paint it black! LMAO, the irony.

regards,

cooter

Wed, 11/13/2013 - 23:04 | Link to Comment Quus Ant
Quus Ant's picture

perhaps he is covering his own ass because the house of cards he helped build is teetering and about to crash down on all of our heads?

It's a pretty big sign, to me at least, when insiders break ranks and kill any future job prospects.  this enchilada is set to blow.

Wed, 11/13/2013 - 23:04 | Link to Comment seek
seek's picture

I'd say it was to enable the taper, but we know that will utterly destroy everything if they don't keep printing.

My guess is it's so the hyperinflationary collapse gets blamed on the Fed and not the government. What worries me most is if they're laying the groundwork (which is what this is, even if we don't know why) we must be getting close to the main event.

Wed, 11/13/2013 - 23:54 | Link to Comment Tinky
Tinky's picture

"What worries me most is if they're laying the groundwork (which is what this is, even if we don't know why) we must be getting close to the main event."

I agree with this thought. When mainstream Fund Managers and insiders begin to issue public warnings – an increasingly frequent occurrence – there is good reason to believe that the early tremors of a major crisis are being felt.

Wed, 11/13/2013 - 23:05 | Link to Comment NoDebt
NoDebt's picture

I don't know either, Doc.  Is there even the slightest possibility we've become so jaded we can't recognize when somebody is trying to tell the truth as they see it (not just as a deeper plot to mislead us)?

Let's face it, this guy was basically "middle management" in his stints at the Fed.  A person with one specific useful skill that they used for a specific task.  He isn't in anybody's "inner circle".

He lost faith with them.  I only believe him in this respect because it happened for him at exactly the same time it happened for me:  QE1.  I remember when I first I heard one government agency was going to buy the debt of another government agency.  I knew we were fucked right there.  

I'm not saying he's the Eric Snowden of the Fed, but speaking ill of them after departure is not a common thing.  Two in a week?  Even less common.  This is getting harder and harder to dismiss as some new kind of mind-fuck by the masters of the universe.  (or not)

That being said, it won't change the Fed's policy moving forward even the slightest bit.  They're committed to this path and they'll follow it to the bitter end.

 

Wed, 11/13/2013 - 23:14 | Link to Comment fonzannoon
fonzannoon's picture

the thing that stood out to me nodebt was this message from him that the fed was just some big lug who keeps trying to help everyone even though it's not working anymore. 

He was pretty much blaming the fed and absolving them at the same time. Which to me is interesting. My contention has always been as the ship hits the rocks the fed and the politicians will start slinging shit at each other. maybe that is what this really is. 

Wed, 11/13/2013 - 23:24 | Link to Comment NoDebt
NoDebt's picture

Oh, for sure, there are people getting nervous at the top that things ain't going so well and they're starting to lose cohesion and head for the exits. 

I read his absolution a little differently, however.  I only seeing him absolving himself.  "I went into the crack den with only the best of intentions to help people.  Then I realize that selling crack is just hurting people and transferring their money to the people selling it.  I was SHOCKED that would be the case.  So, naturally, I got out of there as quickly as possible (but kept the money)."

 

Wed, 11/13/2013 - 23:27 | Link to Comment fonzannoon
fonzannoon's picture

fair enough. good description.

Thu, 11/14/2013 - 08:38 | Link to Comment new game
new game's picture

simple freudian shit(mon)

fight or flight

run like a scared money or timmamen square with the tanks rollin

Wed, 11/13/2013 - 23:34 | Link to Comment disabledvet
disabledvet's picture

that's easy: 250 billion returned to taxpayer via Fannie and Fred. That's just in the past year. "Banking" in New York is for all intents and purposes kaput...not that capital markets have never had it so good...but take a good hard look at that housing stock...not only down there but nationally. It's absolutely massive. where are all there profits going to come from again? if you're DC that's easy to see...just keep lending and securitizing. not so easy if we're talking the private sector. and now the efficacy of a State Bank (Bank of North Dakota) is apparent for all to see? why do "we" (the people) need Wall Street again? don't say "because of the media." Marshal McLuhan saw through that over 50 years ago. don't get me wrong...I don't see a collapse in markets coming...but if I were to pick the City to be in right now it would be Hartford, Connecticut. "Banking profits in Washington DC" strikes me as inefficient.

Wed, 11/13/2013 - 23:34 | Link to Comment carlin401
carlin401's picture

Most likely for foreign consumption, ...not a one gives a fuck about the USA.

Note back in 2008, most of the 'secret' money went abroad and FED has refused to say to WHOM.

The biggest problem for the FED is 'confidence', the world has lost its confidence in the USA, and the FED's only "TOOL" is free USD's flooding on the world.

So perhaps this telegraphed message is "NO MORE FREE MONEY ABROAD"?

***

We all knew it would end this way,... soon we will be counting the PRO-FED people on TV on one hand.

The RESET is coming, but in what form? Debt Jubilee? War?

The narrative is being laid out,... only with the best intentions was the USD destroyed, but like they say 'good intentions are always the road to hell'.

Thu, 11/14/2013 - 04:06 | Link to Comment Squid-puppets a...
Squid-puppets a-go-go's picture

That's right. This hearkens back to a meme Tyler used to repeat quite often before other events turned his attention: The system died in 2008. Dead. Kaput. Everything since is the Fed making sure its shareholders are in the lifeboats. Everything else - god, king, country - all waaay secondary

Thu, 11/14/2013 - 00:18 | Link to Comment Overfed
Overfed's picture

Like I said earlier, the shit and the fan must now be in extremely close proximity.

Wed, 11/13/2013 - 22:49 | Link to Comment kito
kito's picture

Just look at the face of that pompous assed interviewer. He is in utter disbelief over the truth!!!

Wed, 11/13/2013 - 23:03 | Link to Comment fonzannoon
fonzannoon's picture

truth my anus. Listen to this guy explain the fed as the victim whose only crime was having too big of a heart. Give me a break.... I guess I will spot this guy some credit. He is stuttering through the interview as though he expects to get droned at any second. 

Wed, 11/13/2013 - 23:09 | Link to Comment NoDebt
NoDebt's picture

Fonz- you clued in on the same thing I did.  He's out of his depth and clearly uncomfortable in his present position.  That's the only reason I give what he says any credence, in an odd way.  If he was slick and smooth, I'd be much more likely to call bullshit on the whole thing.

Wed, 11/13/2013 - 23:28 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Indeed fonz. The FED is the direct enabler of this terribly corrupt situation. They caused it (the crisis), and then they are the answer to the problem?

He laments, ".2% of the banks own 70% of the assets", and then says "I have great respect for the FED". Total contradiction. Seriously, how the fuck do people miss the 800 lb gorilla standing right in front of them?

Wed, 11/13/2013 - 23:26 | Link to Comment kito
kito's picture

Fonz, by truth I mean by the acknowledgment the fed knew qe wasn't working, by truth I mean that he stated 2013 is no different than 2008. That's NOT what msm wants to hear.

Wed, 11/13/2013 - 23:31 | Link to Comment fonzannoon
fonzannoon's picture

i hear you. The truthy truth is that QE is working perfectly to enrich the 1% moar and destroy the middle class at the same time. It would have been great to hear him say this is deliberate and we are getting the desired result of the fed.

Wed, 11/13/2013 - 23:38 | Link to Comment kito
kito's picture

The truthy truth gets him vaporized.

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

Nah.  It gets him forgotten.

OK, not really all that different than vaporized.  Perhaps a distinction without a difference.  But I bet he'd be glad to be forgotten than vaporized from a pure self-preservation perspective.

Wed, 11/13/2013 - 23:07 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

I love the token Barbie with her memorized question:  "But the banks are less leveraged....." and his point, yes the FED bailed out the banks......

Bloomberg has slipped, but still better than visual sewage of CNBC

Thu, 11/14/2013 - 03:37 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

She seems a bit cunty..

Is she always like that?

Wed, 11/13/2013 - 23:50 | Link to Comment jomama
jomama's picture

he plays the part well.  almost believable!

Wed, 11/13/2013 - 22:57 | Link to Comment OwnSilverPlayMusic
OwnSilverPlayMusic's picture

One of the most surreal interviews I've ever seen.  I guess what is certain is that there will be another crisis, but it won't be one of liquidity.  I'm in agreement with Max Keiser.  I think we're looking at the Bondpocolypse.

Wed, 11/13/2013 - 22:58 | Link to Comment ArkansasAngie
ArkansasAngie's picture

I guess the question I have for him is ... what should be done now ... besides throwing the wall street losers and politicians out on their ears.

Wed, 11/13/2013 - 23:17 | Link to Comment fonzannoon
fonzannoon's picture

he knows there is nothing that can be done, which is why all he had was "reform". He could have said "a giant fucking reset that is so bad it knocks the earth off it's axis" but he went with "reform". I can't blame him.

Thu, 11/14/2013 - 06:48 | Link to Comment negative rates
negative rates's picture

I believe his problem is more akin to the Earth knocking him off his keester cause he can't do anything but the status quo.

Wed, 11/13/2013 - 22:58 | Link to Comment ArkansasAngie
ArkansasAngie's picture

repeat

Wed, 11/13/2013 - 23:00 | Link to Comment g'kar
g'kar's picture

Let's talk again after S&P 500 at 2000.

Wed, 11/13/2013 - 23:16 | Link to Comment yogibear
yogibear's picture

Rinse and repeat at S&P 2500. 

Yellen and her 12 Fed stooges intend on making the DOT COM look like a small balloon .

Wed, 11/13/2013 - 23:01 | Link to Comment rosiescenario
rosiescenario's picture

One thing really missing from the news is a thorough discussion of the LIBOR price fixing conducted by each and every TBTF bank.

Just what is Holder doing? Nothing. Is Obummer in agreement....obviously yes. Do the TBTF banks have a firm control over D.C.....pretty damn obvious.

 

Our supposed 'rule of law' is selectively enforced by the regulators. Punish those who are 'politically out of line' and ignore those criminals who make the 'correct political donations'. Very similar to Nazi Germany....oh, and make sure that HomeLand Sekurity has plenty of ammo.

Wed, 11/13/2013 - 23:02 | Link to Comment Colonel Klink
Colonel Klink's picture

Amazing he looks like everyone in criminal finance.

Wed, 11/13/2013 - 23:11 | Link to Comment 0b1knob
0b1knob's picture

"The Fed does not have the tools..."

I am reliably informed that almost everybody who works at the Fed is a tool.   

Wed, 11/13/2013 - 23:13 | Link to Comment yogibear
yogibear's picture

Janet Yellen will be more than happy to prove him wrong and increase QE and buy up all the US debt. 

Target Zimbabwe for Yellen, Bernanke, Dudley, Evans and Fisher. Acomplete loss in faith of the US dollar.

Thu, 11/14/2013 - 01:59 | Link to Comment carlin401
carlin401's picture

The inauguration of QUEEN ole YELLEN, will bring out ever femi-nazi on the planet,

Feinstien, will be there and pelosi, and hillary,

It will be sold by OBAMA as proof of a "HOPE&CHANGE" coming to ameriKKKA.

In the meantime, ... FED will be the only buyer of USA debt until pigs fly out of my ass. Of course the name of the program will be changed yearly forever,...

Wed, 11/13/2013 - 23:14 | Link to Comment Wilcox1
Wilcox1's picture

ZH kills MW.  Tons more substance here

Wed, 11/13/2013 - 23:21 | Link to Comment worldofdebt
worldofdebt's picture

I agree with "Rinse and repeat", but we'll probably keep going higher for now...

See CRAMER'S TERRIBLE STOCK PICKS Below--MUST SEE!! It's GREAT for a LAUGH!!

https://www.youtube.com/watch?v=Lhwplunz7-I

 

Wed, 11/13/2013 - 23:37 | Link to Comment Wilcox1
Wilcox1's picture

Its just like El-Erian was saying a couple of days ago--the Fed bought the policy-makers some time and they squandered the opportunity.  They are stultified. They can't change.  The Market is going to have to be the correcting mechanism.  

Thu, 11/14/2013 - 00:27 | Link to Comment carlin401
carlin401's picture

The market loves QE forever.

Yellen long ago telegraphed negative-saving's rate, aka Cyprus haircuts for USA depositors,

What's not for the 'market' ( Wall St ) to love forever, ...

Everybody in the USA is part and parcel to the problem, just one parasite eating the same rotting corpse, the world keeps send the USA parasite-fodder, and in exchange the FED sends the world USD's.

The market cannot and will not correct until the WALL-STREET welfare is STOPPED, but its clear that everybody loves it,...

QE for banks is the new social-security for Fascist Banking Corporations [ FBC's ]

Everyone is entitled.

How long can the FED pull 'money' out its ass? Forever, now that 'everybody in the world is doing it (NOT)',...

So folks will continue to buy GOLD, CHF, and SGD, and CNY, and wait,...

Thu, 11/14/2013 - 00:43 | Link to Comment sablya
sablya's picture

And BTC!  I thought about BTC when it was around $90, now it is $434.  A bubble?  How ironic.  

Thu, 11/14/2013 - 01:56 | Link to Comment carlin401
carlin401's picture

BTC reminds of me GOLD, all the suckers that had a nickel have bought, but not being men of patience they try to get other's to buy into the PONZI.

Gold just had it's generational run, historically there most likely will not be another,

In a years time people will be saying "BTC" what?

**

The rich paid their insurance premium ( bought gold ) long ago,... today there is nobody left to buy, its all on the sell side now, its called 'deflation'.

BTC, is just the tulip of the week, albeit wrapped in hi-tech gibberish to impress the hair-lip nation. Fools and their money, soon depart, this is a truth forever.

Thu, 11/14/2013 - 06:19 | Link to Comment chubbyjjfong
chubbyjjfong's picture

When there is free money, no one gives a shit about gold.  Take the free money away, you will see what happens to gold my friend.  When gold moves, S is H T F.  Is it worth having in a time of chaos?  I'd rather have it than not have it.

Wed, 11/13/2013 - 23:42 | Link to Comment Burticus
Burticus's picture

The "big lies" being reinforced by two consecutive pre-approved talking heads is the (not really) Federal (with no) Reserve's benevolent intent and that it isn't working.

Their sinister scheme is working perfectly, "saving" their insolvent zombie bank SHAREHOLDERS, while crushing free enterprise business and the middle class, completing the destruction of the idea that was once America and assimilating it into the NWO totalitarian surveillance police state collective.

Thu, 11/14/2013 - 00:14 | Link to Comment carlin401
carlin401's picture

Yep,

We have seen their New World Order,

1.) bankers,
2.) cops
3.) prisons

Debtors prison is coming soon, ... be looking closely for any excuse to lock you up, cuz you can't pay your bill's for lack of a job,...

No fucking doubt that our GUBMINT has sold out to the MOST evil MOFU's on the earth, and CLINTON/OBAMA don't give a fuck, as long as they're on top.

Fuck all these MSM talking head's about their 'benevolence', its nearing time to bring out the gallows, and let the 'ruling class' have a taste of their own dungeons.

Thu, 11/14/2013 - 00:39 | Link to Comment carlin401
carlin401's picture

Yep, a few ass-hole states are doing this, but far from main-stream,

But I have heard story's of guy's living abroad for 30+ years and returning to California, and being arrested for owing the state money they didn't even know they owed.

If your an ex-pat think twice about returning to the USA, they love to pull passports.

All you can do is run as far from the USA as possible, never look or go back. Only going to get worse until the 'reset', but we'll most likely all be long dead, before the 'majority' are not in support of fucking the minority.

Today it seems to be medical bill's as a way to fuck those who are old and saved.

I have long predicted that the inevitable is forced prostitution of the US children held by child services, that they will turn the children into little 'profit centers', most likely for Asian tourists.

The EVIL gene in the USA population has no limits of depravity.

Wed, 11/13/2013 - 23:39 | Link to Comment xavi1951
xavi1951's picture

$200 Billion /month QE by January..............  the rest is crumbs in the toaster............

Wed, 11/13/2013 - 23:48 | Link to Comment yatikto
yatikto's picture

"what should the FED have done?"

 

THERE SHOULD NOT BE A FED!!!!

Only thing they know to do is to inflate the unsound economy.

Wed, 11/13/2013 - 23:49 | Link to Comment boeing747
boeing747's picture

Well said 'Fed doesn't has tools to help economic', monetary policies can not solve structure problems just like pain killers can not treat cancers even you use larger and larger dosage.

From what I observed from one McMansion transation, I pretty sure big banks losted all their capitals accumulated in last 200 years. QEs are here to re-capitalize big banks, that's why big banks keep hugh reserves on balance-sheets and can not lend them out. Stress Tests are fraud.

Thu, 11/14/2013 - 00:25 | Link to Comment carlin401
carlin401's picture

When a USA politician tell's you he doesn't have the TOOLS he needs, what he is saying is he need's a BIGGER HAMMER.

Wed, 11/13/2013 - 23:59 | Link to Comment hangemhigh77
hangemhigh77's picture

Hey thanks for telling the truth, 5 years too late and after earning millions.  So let's thank him then lets HANG THIS MOTHERFUCKER!!!

Thu, 11/14/2013 - 00:00 | Link to Comment CURWAR2012
CURWAR2012's picture

Poor guy, he just set himself up to die unexpectedly in a car, at least that's how the news will report it.

Thu, 11/14/2013 - 04:57 | Link to Comment syntaxterror
syntaxterror's picture

Another polonium accident. Whoops.

Thu, 11/14/2013 - 00:09 | Link to Comment syntaxterror
syntaxterror's picture

The official government view is that "Lehman brought down the house". So, now, the offical policy is bailouts at any price.

99% of Dumbmerica has no clue what this guy is even talking about. So the theft will continue.

Thu, 11/14/2013 - 00:05 | Link to Comment Trampy
Trampy's picture

If the Fed can't do squat, then we NEED A BIG WAR!

Same as it ever was. 

FDR's New Deal didn't do squat for economic recovery until WWII which launched world dominance of manufacturing while Japan and Europe were in shambles.  Korean War as a bust so we needed MOAR.

In the background we conducted over 1000 atomic tests and built over 70,000 warheads and bombs, recycling as much as possible.  Atoms for Peace.  Viet Nam War.  Man on the Moon.

And now we have this lame war on Al-CIA-Duh  which is just a cover to implement martial law, where the Amerikan people are the most feared enemy of the state.

Nothing is working to get the economy going so we need to start WW3 in the ME now by supporting the very same people that we're officially at war with under 2001 AUMF and 2010 NDAA?

Watch and see.  War is the only answer, and it needs to be a big one this time.

 

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

What if they held a war and nobody came?

Recruiting is going to be a hell of a lot harder, this time around.

Maybe that's why our Dear Leaders (some of them) are so keen on drones, because they're the most reliable soldiers for fascists in this Information Age.

If there's a WOAR, it might resemble the conflict in Terminator a little more than it resembles WW2.

Thu, 11/14/2013 - 00:23 | Link to Comment carlin401
carlin401's picture

Recruiting will have never been easier, with 90% unemployment for folks under 25, we may never need to have conscription.

***

The paradigm is rather smart, FUND and create AL-QUEDA ( CIA in Persians it means "The Base", ... CIA BASE ),

Let the CIA funded AL-queda fester a wound since 1982 (afghan ronny raygun), and then after 30+ years where the majority of ME youth HATE the USA, in the Arab/Persian world, then its an easy sell the war in the USA.

WHY? To steal all the OIL, and mineral wealth in the East-Asian world, and that will set the USA pretty for another 200 years.

Guess what, the majority +60% of the USA public will kill every person on earth in support of this mission, and all 100% denial, that there is NO blood on THEIR hands.

Lastly, don't worry about management of the loot, Israel will over-see the banking and inventory of all looted treasure.

The USA is going to make the NAZI HITLER UTOPIA look like micky-mouse at disneyland.

Thu, 11/14/2013 - 00:29 | Link to Comment Renfield
Renfield's picture

Marked up b/c I agree with you that that is probably the PLAN...

I just don't agree that that is what is going to HAPPEN. Rather like the Syria fiasco, my guess is that not only will the sheeple start finding their moral centres "when things get serious", but that the Powerz risk a lot of blowback when they do. I'm not being flippant either - that's really what I think. They are so out of touch that I think their plan will have the opposite result of what they expect.

We all have fun playing predict the future, though. Makes us feel more in control.

"I just did what I do best. I took your little plan and I turned it on itself. Look what I did to this city with a few drums of gas and a couple of bullets. Hmmm? You know... You know what I've noticed? Nobody panics when things go "according to plan." Even if the plan is horrifying!...Introduce a little anarchy. Upset the established order, and everything becomes chaos. I'm an agent of chaos. Oh, and you know the thing about chaos? It's fair!"

Thu, 11/14/2013 - 01:51 | Link to Comment carlin401
carlin401's picture

We can only wish, but IMHO the frog in the USA was boiled long ago, ... in all of USA history, there is no story of the USA people ever standing up to their gubmint.

The USA is a failed penal colony, a nation of entitled hair-lips, that would fuck their mother, sister, or granny if the police-state so ordered,

Never under-estimate the stupidity, laziness, and callous attitude for its victims,...

The "joker' was right, but sadly the USA has no Joker, only a nation of men&women waiting month to month for their treasury deposit.

Thu, 11/14/2013 - 00:31 | Link to Comment WillyGroper
WillyGroper's picture

How insightful.

Thu, 11/14/2013 - 04:23 | Link to Comment Renfield
Renfield's picture

Taking the piss?

Balls! :-P

Thu, 11/14/2013 - 10:43 | Link to Comment WillyGroper
WillyGroper's picture

Now to incite. 

Leading the way are you?

Thu, 11/14/2013 - 00:33 | Link to Comment sablya
sablya's picture

The Fed needs to cease to exist, very slowly at first, then more rapidly like the Cheshire f'n Cat.  Except the last thing will undoubtedly be the butt crack of their fat f'n ass.

Thu, 11/14/2013 - 00:28 | Link to Comment WTFUD
WTFUD's picture

Slightly off topic!
Steenkin' rotten fish.
How many of you would perform a 69 with Janet Yellen?
That is the question!
To boldly go where no man has gone before.

Ok would you perform for patriotic reasons if she promised not to print?

With her muff on your face would she be able to reach your cock?

Yes my friends many a tear has to fall BUT. . .

Thu, 11/14/2013 - 02:06 | Link to Comment ebworthen
ebworthen's picture

*gag*

Thu, 11/14/2013 - 00:29 | Link to Comment Peter Pan
Peter Pan's picture

Announcing on Zero Hedge the new firm of Snowden & Huszar.

The motto of the firm is , "They hate us, but we love it."

Thu, 11/14/2013 - 02:03 | Link to Comment carlin401
carlin401's picture

The similarity is striking, no doubt both these boy's went to the same AIPAC 'acting school'.

When you see an orchestra on TV, look for a conductor.

Thu, 11/14/2013 - 00:31 | Link to Comment ebworthen
ebworthen's picture

Yes, and even more eerily similar to 1931-1932!!!

Thu, 11/14/2013 - 02:02 | Link to Comment carlin401
carlin401's picture

I really think today is 1938, in 1932 you could still leave with your money from Germany,

By 1938 there was no exit,

Things happen much quicker now, and 1929 might have been 2007, but 2012 was 1933, and we have moved to 1938 with hyper-velocity thanks to the police-state.

Thu, 11/14/2013 - 01:29 | Link to Comment Akrunner907
Thu, 11/14/2013 - 02:05 | Link to Comment estrategy
estrategy's picture

Geez I wonder why CNBC is not interviewing this guy?  This should be a freaking viral video.  

Federal Reserve Whistleblower Says "Insiders Know Quantitative Easing Doesn't Work" 

It is amazing to see what kind of ads Google serves up along side this video.  Ha ha.

http://blog.estrategypartners.com/2013/11/federal-reserve-whistleblower-says.html

Thu, 11/14/2013 - 02:20 | Link to Comment observer007
observer007's picture

 

Bitcoin touches new Record high? How high can it go?

http://btcpost.net/index.php

Thu, 11/14/2013 - 02:33 | Link to Comment dunce
dunce's picture

This guy is scary,  he says the fed does not have the tools to fix the economy. It sounds like he wants to expand the feds power. They do not need more "tools". They need limits and checks on their policies. Even if such "tools" were available, there is no great chance that they would use them properly and not abuse them.

Thu, 11/14/2013 - 02:57 | Link to Comment orangegeek
orangegeek's picture

Similar?  Sure.  $17T in government debt on $16T in GDP in 2013.  It's worse folks.

 

Another government fuck up.

 

Great job Barry - another success.

 

CIA is going to whack Huszar - sometime over the next few years.

Thu, 11/14/2013 - 03:18 | Link to Comment Angry White Dude
Angry White Dude's picture

I would like to see a post outlining the top 4 or 5 most plausible / probable scenarios for how everything can come crashing down. We all froth at the mouth here about how things should be, and we vent our anger, but I'd really like to see what the ZH consensus is (don't jeer, I know that's somewhat of an oxymoron) on this. Based on the premises that (1) there is no political will to take the steps necessary to restore fiscal balance (assuming, arguendo, that steps could be taken), and (2) that the Fed's actions are primarily designed to "kick the can" and prevent a financial system collapse, what do we see as the most probable "reset" scenarios?

Power and control by the few permit the theft from the many, so my secondary premise is that "TPTB" act in the first instance to perpetuate their power and control, for without it, they can't appropriate from the masses, which is their secondary goal. So my parlor game is to try to figure out what plausible scenarios could cause them to lose power and control. And I am having a really hard time coming up with a probable scenario. I don't think that the gov't will ever let any bond go into default that has a remote chance of triggering a derivative cascade. Either the Fed will buy them up or the rules will be rewritten so that a default is never triggered.

We all know the system needs to be reset and there needs to be purge, but I'm just rapidly losing confidence that it is going to happen. There is enough arable land in the US to feed everyone if it came to that, and in a petro crisis they'll open up every currently off limits oil and gas field. So until we've reached that level of desperation, I don't see things changing. Which really sucks balls.

Thu, 11/14/2013 - 06:55 | Link to Comment FredFlintstone
FredFlintstone's picture

I second that motion, all in favor?

Thu, 11/14/2013 - 08:01 | Link to Comment pndr4495
pndr4495's picture

There must be some politicos in Washington who know intuitively how to use one's mind - TOGETHER WITH ONE'S HANDS - to do some useful labor , even if it is just digging dirt. There are not enough willing participants yet who would forego the acceptance of the thinaircreatedUSDollar as the coin of the realm. What would happen if , by inevitable accident , everyone- EVERYONE STOPPED accepting US Dollars as compensation for goods tendered or services rendered?? It would require sacrifice , and without sacrifice there could/would be no victory. The rigors of a complete U-turn in the operation of this economy won't be a cakewalk , which is why it won't happen.

Thu, 11/14/2013 - 03:46 | Link to Comment cherry picker
cherry picker's picture

There are rules on this planet for human beings to follow and these rules are not set by mankind but by something unseen and unknown to most.

When we break these rules, we affect others negatively.

The US Government and those who support the government´s wrong doings will ultimately pay the price, whatever that may be.  Yes. there will be ¨collateral¨damage, there always is.

I am not religious, just old enough to recognize that there is more to this life than what meets the eye.

Thu, 11/14/2013 - 03:55 | Link to Comment Bear
Bear's picture

The Hosts sound like Democrats defending Obamacare

Thu, 11/14/2013 - 03:56 | Link to Comment q99x2
q99x2's picture

Hey I have an idea. Everybody convert their cash into BitCoin. Let the banks fail (wouldn't need them anyhow so who cares) and then eliminate world government by implementing a democratic open source system that has the center of power at the individual level.

This is great news.

Is Greece going to default?

Thu, 11/14/2013 - 04:04 | Link to Comment Manipuflation
Manipuflation's picture

Hey, folks WB7 needs a bit of cooperation up top.  For fuck sakes, if you can't throw $50 at the guy then what are you doing here?  You all look at his work everyday.  If I can throw $50 at him then so can you.

Thu, 11/14/2013 - 04:55 | Link to Comment syntaxterror
syntaxterror's picture

This poor, jilted Jew didn't make rank at Goldman after his bankster bailout duties, so now he's "a whistleblower." Fuck him.

Thu, 11/14/2013 - 05:32 | Link to Comment muleskinner
muleskinner's picture

Just another lying sack of shit talking to other lying sacks of shit.  

Lot of sorry fuckers out there lying their asses off all of the time.  Obama, lying sack of shit nonpareil.

There is no gravity, the earth sucks.

Thu, 11/14/2013 - 05:44 | Link to Comment besnook
besnook's picture

any whistle blower getting this much time on msm is suspect. real whistle blowers are crushed. that is what they do.

this leads to an epiphany i had a while ago. money is now trading at the intrinsic cost of money. cost of money, not price of money. the real cost of money is zero especially in the short run plus expenses for services and hookers. all this money is electronic. 99% of it will never be cash or hard assets. it throws off 1% of a 50trillion dollar economy(round number) meaning 500billion dollars in hard assets can be purchased annually by the people who get the money first.

n'est pas?

Thu, 11/14/2013 - 05:54 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Andrew Huszar saved his head from the Guillotine.

Thu, 11/14/2013 - 06:25 | Link to Comment Sufiy
Sufiy's picture


GATA: State Dept. Memo Describes Gold Suppression, But State Denies Having Any Gold Records

 We continue our Gold Manipulation Chronicles and research. This week is already very busy with revelations about The FED and its Gold Suppressing policies.

 

http://sufiy.blogspot.co.uk/2013/11/gata-state-dept-memo-describes-gold....

Thu, 11/14/2013 - 06:38 | Link to Comment JailBanksters
JailBanksters's picture

I have no doubt Bernanke will write a book, and do the rounds by going on Oprah, CNBC, CNN to promote his book on AnkeNomics to justify and forgive his decisions.

 

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