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Ben Bernanke Full Unredacted Frontal
Yesterday the Wall Street Journal's Jon Hilsenrath was kind enough to present to the general public some 515 pages of massively redacted Fed transcripts from the oh so very interesting period of 2007-2010, ahead of schedule. Unfortunately those curious to find out the details of just what was going on in that critical period between March 2008 and March 2009 will have to wait another 3 years for the full declassification to take place. That said, digging among the unredacted data, one does find the occasional pearl. Such as the following exchange between CHAIRMAN BERNANKE and the Fed staff, from the October 28-29, 2008 meeting, in the days when AIG was dying, when Lehman had failed, when money markets had frozen and when the end of the world was nigh. Ironically, it is this one unredacted piece of data that pretty much says it all.
- I’d like first to do the open market operations, which I hope are not too controversial. [Laughter] (source: page 231 of 513)
And that, as they say, is that.
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We're all still laughing.
In 2015 we get to read: "So, with the S&P 500 at Janjuah's target of 800, and now that Goldman and JPM have made 486% profit shorting it there, I think it is time for QE3, which I hope is not too controversial at this point. (Laughter)"
You can do a search for the word "laughter" and find some interesting passages.
Page 15 -
CHAIRMAN BERNANKE. Are there other questions for Bill [Dudley]? If not, we need a vote to
ratify domestic market operations.
MR. KOHN. I move we ratify those operations.
PARTICIPANT. Second.
CHAIRMAN BERNANKE. Objections? Vincent has come in. Welcome. We just want to
acknowledge you.
MR. REINHART. Ever since you gave the guards guns, I didn’t really have any choice.
[Laughter]
Hmmm... Is Bernanke nervous about something?
Brian has attended 145 scheduled FOMC meetings, and he became both the FOMC Secretary and the head of the Monetary Affairs Division in August of 2007—I’m not ascribing any causality there. [Laughter] Brian has made enormous contributions, as you all recognize. He has given us about six or seven years’ worth of work in the last three years, and his dedication and his insight have been extraordinarily helpful. To honor his service, we have put together a little gift for Brian, signed dollar bills. No one has ever explained to me why signing these bills is legal, by the way! [Laughter]
page 463
What an appropriate parting gift- Remember that time when we destroyed these? That was a blast. Love, your fellow spawns of satan:)
I sure hope so.
I'm actually bleeding.
that guy from phoenix capital that has promised us imminent collapse after imminent collapse has met his match
The Phoenix guy will eventually be right and not just because he is like a broken clock.
Predicting the timing (months) of inevitible events is hard work when the entire world fights what is coming. It is like watching a tree fall. One knows it is going to hit ground but exactly when (seconds) can be influenced by wind, gavitational varience, remaining wood on the trunk and other 'acts o god'. The only difference is that the economy will collapse...there is a small chance the tree might not come down.
ugh I'm going to redo my analogy class...I'll do better next time..
I'm reading through the actual text and wondering this: WHY IS THERE SO MUCH FUCKING 'LAUGHTER'!!!!?????
Why so serious?
"Why so serious?"
Stevie Johnson. LOVE IT!
Hahaha, we like to have fun here.
Rosie himself has said that he did not anticipate the shenanigans (my word, not his) that The Fed et al would get up to, to keep the stock market up. I didn't. I don't think anybody did. Did you?
DavidC
For the love of God and everything Holy, MY ANUS IS BLEEDING!!! (Laughter)
Mark Faber said it best (in your best Svisss accent): "Vee are DOOMED."
There must be a part where they say, let's get the word out to the boyZ first, we'll all make a forturne on this one which we'll call saving the markets!
The world is laughing so hard it is shaking itself apart.
The part that made me chuckle-
Mr. Fuhrer, Executive Vice President, Federal Reserve Bank of Boston
So they timed the release of the classified info for right after the statute of limitations on financial fraud expires?
There's no statue of limitations for High Treason.
Unfortunately for us (and fortunate for them) the sentence for High Treason must be delivered by "We The People". Sadly "We The People" are no more and arguably never were. We live in a dream world (Neo).
However, what was not does not mean it never will be. Forget what other people are, or are not, doing. What am I doing to make "real" change a reality? As long as I (we) point to others and demand change without conducting a fearless and thorough self examination, there will be no "real" change.
It all begins within.
Of course they laugh.
I'm pretty sure CNBS won't have Liesman acting out the meeting minutes with himself over this one....
Hmmmmm.... i heard a similar shocking admission by GreenSpam that the basement of the NYFED was foreign territory.
It's not what it looks like. Some say the FED is an Elemasonery (SP!) Trust, literally, a Beggar's Trust, in it's legal form, in PR.
ori
socthr-e-never-too-late/
Go F yourself, Ben.
Tyler, I'm just curious, is there any way you could post the number of times 'Fuck Bernanke' has appeared in the comment section of ZH?
It would have be like the US debt clock.
I'm sure if you checked in with DHS they would gladly answer your question.
Or the new info storage mega centre will have it on file soon.
Ben needs to have a rummage sale...
"And when the taxman comes to the door, Lord the house looks like a rummage sale!"
http://www.youtube.com/watch?v=Z-5XgI244xo
They were laughing all the way to the bank as they should have been. They pulled off the biggest con job ever right in front of our eyes.
I think this is actual proof that he DOES KNOW what he's doing. Sonofabitch!
Hmm, so he thinks counterfeiting is funny.... Wonder how he would respond if he was charged in accordance to Coinage Act of 1792. Not so funny anymore, eh Benny boy?
If they want to keep counterfeitting, fine, my strawman will just start paying HIS bills with an "A4V" stamp...
MANBERNKRUG!
What a bunch of clowns. They pull the strings, we do their little dance, and they laugh at our expense.
http://www.youtube.com/watch?v=_-8j8c7iL3E
There's like nothing there. Ridiculous. All redacted.
I dunno, of late, I'm getting the impression that the Bernank is just starting to awaken to the horror of what he's done. I hope I live to see the day he reaches enlightenment and gasses himself with car exhaust in his garage.
AH HA HA!!! AH HA HA!!!! AHHHHHHH.....AH...funny. They need to spend trillions of dollars of tax payers money because they Private Banking Houses were insolvent. So very funny.
I have redacted my response to you.
So have I!
[Laughter]
They did not redact that because their heads are so far up their asses looking out their throats, that they have no idea how their easy, casual, contempt for us looks to an observer.
Fight the Fed at your financial peril. They hold all the cards and will mold the markets at their whim. Care to differ based on the last three years of waiting for impending doom?
This is where I am arriving as well. Most of the population will stay in the dark until there are widespread resource shortages. All the rest is a story to manage and money to print to fill in the gaps in the story.
It will carry on working till it doesn't.
That point is approaching fast.
Excellent summation of where we are here:
http://flyto.zapto.org/Misc/Golden-eye-of-the-hurricane.pdf
The problem is that you are damn if you and damn if you don't.
You gotta play to win. Ben has built an ark, lifting the productive classes (investors) over the great flood that is currently drowing the lowly working class.
You guys referring to the economy to the titanic are wrong, a better anology is Noah's ark. Buy Apple while you still can bitches.
BEN'S ARK IS UNSINKABLE
[Laughter] is the new "doing God's work" and "muppets."
That is the hubris that you acquire when you are the owner of a nation.
pods
79 instances of "[Laughter]", oh boy it's fun being chairman of the FED :-) Those other guys are just great! :-)
Real commodeians. Open mike night at the Fed.
A liar, a thief, and a banking whore walked into a bar...bartender says "What can I get you Mr. Chairman..."...(and add a +1 to the 'Fuck you Bernanke' count...)
Pat Tillman's mother went thru 3K pages of redacted documents to get to the bottom of her son's death. She exposed the scum responsible for the cover up all the way up to Rummey. One can only wonder what diamonds of wisdom that she could find with this.
The real tragedy was watching Rumsfelstilskin simply use a variation of the 'I do not recall' defense when finally forced to testify before a congressional 'hearing' (LOL) regarding the Pat Tillman incident. No sooner did he vomit forth those words, than his accompanying cohort of Pentagon Corp. flag-level officers all jump to the mic and say 'me too, what he said'. Then they all got up and walked out, leaving the Tillman family sitting there in the chamber, with the realization that these people truly did not give a rat's rotten fuck about their kid being killed, and knowingly tried to cover it up, got caught doing so and STILL walked away after simply saying 'I don't recall anything about anything', or something to that effect.
Translation: Fuck off insects, you can't touch us. Now go the fuck away.
What recourse is left when people are given such a titanic slap in the face?
Obama, the media and most of the world believe that Bernanke has done a fantastic job.
That's because he signs their paycheques.
Bernanke: You probably don't think I'm a very nice guy.
Middle Class: Buddy, I think you're slime.
Tom Hulce bitchezz
http://www.youtube.com/watch?v=k3YUMj6xofk
The Fed makes every other form of organized crime look like the act of shoplifting a pack of gum at the corner store.
long blowtorches and pliers.
the real laughter starts when the bernank and greedsperm finally kick the bucket.
"...I’d like first to do the open market operations..." The word 'do' can have so many meanings........
Am reading THE LESSONS OF HISTORY by Will and Ariel Durant. Available free online. The Ecomomics and History section is interesting. They describe how wealth eventually concentrates to a very small group. Solon's solution in Greece (594bc) was to raise taxes on the wealthy to redistribute money toward the less fortunate. Rome chose a different path and faced 100 years of civil war and strife.
"...We conclude that the concentration of wealth is natural and inevitable, and is periodically alleviated by violent or peaceable partial redistribution. In this view all economic history is the slow heartbeat of the social organism, a vast systole and diastole of concentrating wealth and compulsive recirculation..."
I don't see taxes being raised on the wealthy. The other path will be interesting, to say the least.
Interesting conclusion. I'll have to check that reading out. I wonder if they considered whether wealth can concentrate within small groups....ABSENT the ability to leverage government force on their behalf?
Ace. To increase and protect wealth, the select few would have to be pulling the strings of government, I would think.
The ancient Greeks during Solon's time considered holding public office a duty or requirement, much like our jury duty. They understood how to make government and laws work for the good of the many.
I fear for our future because there is now a rapid & massive transfer of public wealth to a select few. The many (sheeple) are clueless with massive doses of cable TV, internet, gaming, fast food, WallyWorld, bogus news and cell phone distractions.
I don't know what the future will look like, but I am ready for it today.
..I’d like first to do the open market operations..." The word 'do' can have so many meanings........
Bobola - I thought the exact same thing.
Speaking of that, what I wouldn't give to see Ben's first frantic minutes in the prison shower.
Instead of "don't drop the soap", "don't drop the treasury bonds".
HAHAHAHAHAHAH...hahaHAha...(cough, ahem).........
(fart) BWAAAHAHAHAHAHahahaha....(ahem)...any objections? HAHAHAHAHa...oh Ben, you're hillarious!!!
Hey Bernank, Fuck You.
I'm not shorting your fucked up market this time around. You better have a different strategy than crushing shorts to keep up this shit show of a market.
It's not the man, it's the system that is at fault and we should focus on.
The system which is enabling bankers and hordes of banking shills to live free off someone else's labor.
The Full Monty...Python...
Said many times before but still bears repeating...
FUCK YOU BERNANKE
Open letter to Ben