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Ben Bernanke Was Right: "No Rate Normalization During My Lifetime"
With the Fed's credibility terminally smeared across the windshield of the Marriner Eccles-mobile, courtesy of the latest "dots" projection which proved yet again - and beyond any doubt - that the FOMC members are just a pack of chimps throwing darts, and perhaps feces, at a fed funds dart board, we can now honestly say that the one Fed (ex) member who was 100% accurate (if only in this case), and who saw the writing on the wall early on and got the hell out of Marriner Eccles while he could, is Ben Bernanke.
As a reminder, this is what he said (via Reuters):
"At least one guest left a New York restaurant with the impression Bernanke, 60, does not expect the federal funds rate, the Fed's main benchmark interest rate, to rise back to its long-term average of around 4 percent in Bernanke's lifetime. "Shocking when he said this," the guest scribbled in his notes. "Is that really true?" he scribbled at another point, according to the notes reviewed by Reuters."
Yes, it really is.
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All depends. Some Vampire blood can get him well into the 100's.
I just wanna say that a buncha us here been saying that long before Benji and Jelloin.
Booyah! I'm buyin' me a new tin foil hat and 9 volt battery today with my PM and bond winnings.
"No Rate Normalization During My Lifetime"
What is that? Like a dare or something?
See how Bernanke lied to Congress to get TARP passed
https://www.youtube.com/watch?v=RmPUKy-3OfY
That 'I'm just a friendly ole college professor' gig won't work so well for him in the future.
Then someone better off Bernocchio before Goldman's "september" rate hike.
In all fairness to Mr. Bernanke... what he really meant to say was that there has been no rate normalization in the markets during his lifetime.
In other words... it's always been rigged by the Fed banksters...
It depends, vampire's lifetime are vunerable to silver bullets in the heart.
Arrest the Fed.
buncha dual passports there... They'd be outta there lickety split with no extradition.
Great overview of how we got here, starts slow but great read:
http://debtcrash.report/entry/history-and-introduction
You guys are missing the point here. If there will be no rate normalization in Wee Bennie's lifetime that implies a host of unpleasant conclusions.
1. We will never grow again like we did in the 1950s through the 1980s.
2. The importation of low IQ immigrants and the subsidy for Low IQ births has destroyed the American demographic and dooms us to ever expanding welfare costs.
3. If you view the American economy as you would a mine of ore, it is in decline and almost played out.
4. Falling average intelligence and educational attainment make population wide grifts and skims that much easier to run and maintain.
5. The profitable grifts and skims will be centralized and concentrated in the hands of an ever smaller circle of "owners."
6. Multiculturalism makes political change through elections and the ballot box impossible.
Im confused. Were you talking about the US decline or the Dark Ages?
It's like you're reading my mind or something.
That assumes that the dollar continues as world reserve currency and the FED continues the rest of his life. Maybe, maybe not.
http://redefininggod.com/nwo-schedule-of-implementation/
Does it really matter if the dollar is reserve or not? Nearly every currency in the world is slipping into NIRP. And once the NIRP boundary is crossed, there is no way back without changing the monetary system completely.
The Fed may not continue, but so what? Rates still won't normalize. I expect the USA to eventually go from a debt based fiat system to a direct issue fiat system (MMT) during the next national crisis. It will stay there until the crisis is over. If that emergency is WW III, it will surely continue long past Bernanke's death date. Under a direct-issue fiat system, there is no need for government bonds, and the money supply is controlled by tax rates. Lincoln switched us to a direct issue system for a few years during the Civil War, and then it was switched back to a commodity (gold) based currency system afterward. Just as rates were held at 2% during WW II, they can be held at some arbitrary level, probably 0% or negative, during WW III.
Kinda reminds me of when they stated security was so tight nothing could ever happen at the 1996 Olympics........we all know how that dare ended.
I think Ben was trying to say "No Rate Normalization During My Lifetime, [as long as we have any say on it]"
Well for once, one of these Zio-fucks will be telling the truth, Benny Boy (no rate hikes in our lifetime) OR Old Yellen (rate hikes coming soon). Either way, the zio-fucks will rape our asses and make out like bandits.
Quote from Victor Hugo : " Talking Jew, Lying Mouth " ( ou " Jew who talks, mouth who lies. ) "
The quote in French : https://www.youtube.com/watch?v=hU9ntxppKbA
Uh, so Ben has been shown to be a liar in the past. And he has been shown to be absolutely wrong, as well.
Why do people hang on every word of liars? Who gives a shit what this fuck says?
I do not mind the time to continue to prepare. And ignore assholes like Ben and The Romulan.
yeah because he raised rates and look what happened. lulz
Mighta' been the only time Chairsatan-emeritus ever told the truth !
Don't bet on it. He's a lying dicksmoker.
Well, its been nine years since the FED raised rates (2006).
Sadly, it appears NIRP and bail ins are the future for America.
Rates haven't moves since 9/11/2001.
This is a zero sum game to any saver, pensioner.
Anyone who tells you otherwise is looking to a) sell you something, b) fool you, or c) all of the above.
Agreed, but the last time rates actually went higher was on June 29th, 2006 when the FED raised the Federal Funds Rate from 5% to 5.25%.
Bay of Pigs
Agreed.
Going forward, if the 10 year goes over 2.5% to a 3-handle then I think wer'e in serious trouble.
That would be the best possible outcome, but not the probable one.
Right now its only about return of your capital, which is why only retail and algos are playing.
You mean the "bubble prick"?
I'm in awe of what financial geniuses those tribesfolk are. Golly gee.
disappointed. I thought I'd click the article and find that he'd passed.
They can't afford to not chase people into the equities casino, nor can they deflate the great debt bubble.
This all works out for the best.
A small percentage of the planet becomes very wealthy while the rest simply die off. I mean, what does happen to the debt of a dead person anyway? As they transfer all public and bank debt onto the "public", our burdens will grow exponentially, quickly consuming us. The progressive theme of over population and pollution, not to mention climate change, are all well served by this. And it bodes well for the fertilizer industry as we cut back on fracking and oil development, as the reprocessing of human remains will supply nutrients for crops for years to come.
Here's what happens when they meddle too much.
http://en.wikipedia.org/wiki/Great_Leap_Forward
That wouldn't happen here.
I know a few farmers and ranchers. They're generally very pleasant people to be around...unless they think that someone is trying to get one over on them. They usually advise you to "Get the f#%k off my land." at that point.
By the way, they're all heavily armed.
Why should the risk free rate of return ever be anything other than zero?
HonkyShogun: " I'm in awe of what financial geniuses those tribesfolk are. Golly gee. "
What the banksters do ain't about the economy. It's all about keeping the Ponzi going & protecting the banks.
The genius is dumbing down the population so that they have no idea what's being done to them.
P.S. - at one time I thought the Bernank was just a naive, ivory tower academic. His statements after leaving show that he know's exactly what he did and who he worked for. Same with all of them.
Right. He attended Harvard just like our lord and savior, Barack Hussein Obama(sarc). They know exactly what they're doing and don't care. It's all about helping themselves.
Of course not. These fucking idiots done painted themselves into a corner. Raise rates = ligthing fuse.
Once he can finally qualify for that home loan the rates will still be primo.
Whisper rumor the Bernank took a reverse mortgage from Fred Thompson and/or The Fonz.
You'd prolly need all the cash you can get your hands on to keep the Hooperberg triplets happy.
Bernanke took the interest on savings stream of tens of millions of americans and diverted the money to his friends.
And the people are too slothful to do anything.
Yep, bottom line that what this whole shitshow has been about, getting every last bit of wealth out of the non Wall St hands, forever...and it worked! They actually pulled it off!
I agree with everything in your comment except the word "forever". They don't control that territory any more than you or I do...
negative rates is the new normal
One word; inflation
What Bernanke isn't telling you is that he has terminal cancer and expects to drop dead in a year. I agree that the Fed really has no intention of raising rates; however, the market will force their hand at some point before 2017. Mind you, this is my own personal opinion, so if you want to make money, take the opposite bet.
Ohhh 2017 is the date now....ok got it.
Seriously. What fuckan "market" would that be?
Not a chance in hell that will happen.
Foreign investors. We could see a worldwide mass loan default, thanks to the tight dollar supply. Yet, China will still hold the most gold (and silver?). At the same time, the US's pilfering of Japanese pensions to prop it's markets will run it's course, forcing another round of QE. Chinese gold becomes even more valuable. Next five years, easily.
See Jack Burton below. The FED Ponzi will blow before they ever raise rates again.
If he dies anytime soon, I'll go wipe my ass on his grave like a dog wipes his ass across the carpet.
I would steal the bastard's headstone and auction it off here. But, that's just me.
Hmmm. Maybe I could sell Tannerite busts of recent Fed Chairs and selected political figures?
I would suggest using ballistic gel molded and then painted to look like the desired, ummmm........target. The end result would be more rewarding I think.
Please, give a dog more credit.
Can I order an IPO kit on the Internet.
I want to float some bullshit stock.
Everybody is going to do it.
Why not?
It's going to collapse when everybody jumps on.
"No Rate Normalization During My Lifetime"
The intervention for so many years now, since 2008, has created an entirely new form of financial and economic system in the USA. To try and return to market determined rates would shatter the entire stock and bond markets. Trillions of dollars now rides on the zero interest rate norm. The powers of Bankers and the elites have learned how to use zirp and QE to amass fortunes with relative ease. The very core of the system is now waelth transfer form the 90% to a 10% who hold the most assets. The Fed tries to include the 90% by boosting their one asset, their houses. This only creates a housing bubble that prices people out of homes and makes mortgage payments too high for those with them.
No this ZIRP system will last until to distorts markets to the breaking point. They will never volunteer to change back to market interest rates set by capitalism. Capitalism is dead, the real kind is dead.
The Federal Reserve System just gave birth to baby Godzilla.
Look out Tokyo.
Risk officers at banks should just resign now.
Your jobs are irrelevant, just for show.
Good thing there aren't Moral Hazard officers. They'd have to commit seppuku....assuming bank employees have any ethical code at all.
Help me Obi Wan Putin....you're my only hope.
and if you still pay 18% on Credit card balances until they steal it all, what happens after?
Brain damaged - The lunatic is in the hall.
The lunatics are in my hall.
The paper holds their folded faces to the floor
And every day the paper boy brings more.
The intervention for so many years now, since 2008, has created an entirely new form of financial and economic system in the USA.
Change that to 1987, to be more accurate.
Similar to a game of Monopoly when one corners all the wealth and the other players are bled dry with no hope to win. Until someone angerly tosses the boards over and sends the pieces scattering. I never realized what a teaching instrument that game was.
Miffed
The cancer that the Banksters have spread through out every financial system on this planet, can not be cured. Any chance of that passed a long time ago.
It will run it's complete term now, producing one corpse after another. It can take a whole lot longer than we think it should.
May as well put a toe tag on Greece now, they are in the final stage.
And you can nailgun that to the wall.
What total clickbait!!!! I thought that evil slime fuck had died when I saw the headline. What a major disappointment.
Does he realize that the USD is going to go poof in his lifetime?
Cuba, here we come!
Cuba or bust!
I don't know how anybody could NOT go long on the morning of Fed Wednesday - they do this EVERY fucking time, of course they can't normalize rates. The only surprise was gold going UP not down, I guess we're meant to believe that the magic 1146 bottom is going to hold for some reason.
You know I was just thinking about this earlier, and I have a perfect reason for not going long even when I know logically the market is going to be goosed yet again by Judenfetzen.
Because it's morally fucking wrong. Our market exists as an illusion to pump wealth from schoolteachers, pensioners, the disabled, ethnic minorities, or absolutely anybody else not in the Exclusive Club and into the pockets of the owners. My conscience wouldn't let me sleep at night if I got involved in the "market." I suppose there are good arguments to be made that buying gold and silver isn't necessarily blameless; ie: the mining practices and worker conditions that bring it up, but I think overall it's not as blatantly immoral on its face in the way Mr. Market is. Plus it offers the benefit of serving as money, real hard capital, at a time when few people have invested in any. That can make or break an entire community.
My girlfriend sometimes makes fun of me that I never act on what I know about the market game. She says I'm into "free range organic money." Of course she makes me eat weird hippie crap like kale so what does she know?
Kale? A guy can't think straight eating that stuff.
No fucking shit. Many of us have been saying this for five years. We are Japan.
Yes indeed we have. And congrats to you, me, and all other "formerly brave" analysts who could see and understand the relevant circumstances right in front of our faces.
Translation of Yellen speak:
"' The economy is screwed, so we will continue our policy, though change the words, of no rate hikes, and encourage the govt to continue backing car, housing and student loans, so our member banks dont get screwed. Additionally, we applaud the previous massive cash buildup by corporations so they can continue to embark on their massive stock buybacks...aka self QE. Please encourage the little people to pump more money into equities for our benefit, and support consumption of fatty goodness through the March Madness celebrations."
Ben's brother The POTUS went off the reservation to Cleveland today.
http://fox8.com/2015/03/18/president-barack-obama-visiting-cleveland-today/
We should see Europe or Japan implode. Eventually the US. All insolvent.
Bernanke is the fall guy for the Damage that the Maestro created. The Maestro fueled the pump in the mid ninenties for ALL OF THIS BULLSHIT.. I cant think of One man that started so much economic irresponsibility and turmoil...well, Sandy Weill comes to mind.
The Maetro sat before congress exhorting Home ownership and Low raites..blowing up Fannie
The Maestro was responsible for the subprime debacle
The Maestro was talking out of both sides of his mouth when speaking about irrational exuberance in 1996 (dow 6k) whilst lowering rates
The Maestro was the one responsible for Sept 1th, 2008 500billion dollar sucking sound at 1:30pm
Magoo gave everybody, i.e. congress people confidence in his utter BULLSHIT moves...people loved the fucker for his gravitas..
But HE alone laid the foundation of where we are today.
It was his magical glasses resting on self-righteous tribal beak that did it.
Imagine,electronic money with no interest attached ever.Just get rid of Banks.Government just has to copy Bitcoins example.What's so hard about getting rid of mafia style crooks?
IT'S A MADHOUSE!
https://www.youtube.com/watch?v=VFCM6TZgTMI
The commie Apes win.
Why can't one of the psychopaths who shoot up our schools go into one of the bankster meetings and start taking them out in mass?
I would bet the general public would cheer.
The one's surrounded by bodyguards are key targets.
Yellennomics = Abeonomics = Bernankenomics.
Congrats the US is Japan.
The United States Dollar will be remembered, if there is any civilization left following its collapse to remember anything, as the most destructive, longest-lived and most brazen Ponzi Financial scheme in recorded history. That is not sarcasm, unfortunately.
When the dollar collapses we are going to be very grateful for the protective barriers provided by the Atlantic and Pacific Oceans.
Former-Texas Governor John Connally and then Secretary of the Treasurer to President Nixon reportedly said after President Nixon closed the "gold window" regarding European countries seeking to exchange unwanted dollars for gold, "...it may be our dollar, but it's now their problem...". Out of that grew the Eurodollar market.
But, those Eurodollars did not just disappear in a puff of smoke. No, they were and are still claims against the United States. Collecting on those claims might not be easy or straight forward. Outstanding Treasuries held by foreign owners will not disappear either. Those will continue as outstanding claims against the United States, too.
Everyone should understand and remember that offshore dollars and Treasuries will continue to be claims against the United States far into the future...
Well.. I dunno...how many years does Bernanke have left...?
What kind of world this turns out to be ??? Even my grandmother fallowing Fed decisions. All the world is becomes a slave of central banks. To be honest with this slavery system ofcurse they are going to steal savers money under the name of helping economy.Rates under inflation levels is a STEAL?NG. For public not to protest more on this is suprise to me.
Hopefully that will be an unnaturally short life....with a violent bloody end.
Cursed
Maybe because he has planned a 20 year depression....rates can stay low if they do not plan on making any loans..
So it will take 50 years to fix those 8 years of republicanism.