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Bernanke Lecture IV Decrypted: Inflation 20, Stability 17, Progress 1
The lecture series is complete and Ben can creep back behind the green curtain once again. Today's lecture focused on the aftermath of the crisis and a quick summary of just where Bernanke believes the recovery lies - Fed 95: Government 11. Unfortunately the word 'Progress' only appears once. When we asked Wordle to consider the speech, it gave us back what appeared to be a deus-ex-machina created tear-drop shape - somewhat ironic perhaps. Interestingly the words 'Credit Backs Just Markets' were at the very top of the pyramid and that led to the 'Financial Economy' making it clear just what is going on here. In an echo back to the last lecture on the crisis itself, there is some subliminal messaging with the phrase 'Mortgage Regulators Housing Crisis' appearing spookily close together. Rest assured though, Ben is not entirely self-aggrandizing as he used the word 'tool' a magnificent 30 times. Full presentation embedded in all its glory.
Source: Wordle
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LOL, he certainly is a fucking tool
I posted this is the other CTRL+Spin article, and am just going to add it here, because I'm too tired today to write it twice.
One has to wonder about the quality of education at George Washington University.
It is not my intent to baselessly insult that institution, but I am shocked that not one single student challenged The Bernank on his laughable proclamation that "electronically crediting the accounts of banks in the forms of excess reserves is not printing money" given the entire foundational structure & mechanics of fractional reserve banking (and the money multiplier function along with leverage).
For now, I'll leave it at that, without even broaching how QE bond and LSAP programs run by the Fed are the functional equivalent of money printing in a fractional reserve banking system.
That The Bernank to this day makes these denials, in an attempt to buffer the criticism of his money printing ways, only lessens his credibility and exposes more people to the fraud he's helping to manage.
If the Bernank were an honest man, .... he wouldn't be at the Fed. However, let's suppose that Ben Shitter suffered a sudden burst of honesty before giving a speech. This is what he might say...
Good morning. I am Ben Shitter Bernanke.
My job is to shit Benjamins. You know 100 dollar bills. I shit them by the billions. My ass is rather sore.
You, peons, don't get these Benjamins. I give them to Wall St because Wall St owns the country.
When I'm not shitting Benjamins, I spend my time talking about responsibility and deflation and accountability and basically all bull shit that isn't true. By the way when I got this job, I thought it was going to be because I was going to be Bull Shit Bernanke. Actually that would've been nicer because my ass wouldn't be so sore.
Anyhow, that is it. I shit Benjamins. You don't get them. End of story.
Oh yeah, I've got my face on the cover of a magazine. They have some article with too many words that says I did some real good stuff. It isn't true.
"summary of just where Bernanke believes the recovery lies"
yes he and the eCONomy lies a LOT
He's lost his mind. He seems to think he's a celebrity now, and craves the camera, and attention. He's always in the media spewing propoganda. If the Fed was so successful he wouldn't need to go around talking about it all the time. Bernanke could be replaced with a few lines of code that output either ctrl+p, or talking about ctrl+p.
The propoganda barrage is a sign of desperation.
"Damn, all Greenspan had to do was mumble a few cryptic incantaions and the markets obeyed like he was an orchestra conductor. And Goebbels himself told me in the séance the propoganda would work. Why is nothing working for me?"
Bernanke Lecture IV Decrypted: Inflation 20, Stability 17, Progress 1
Achievement : 0
Bill : $3 Trillion and counting..
Conclusion : Shut the Fed
sounds pretty bullish
Stability 17,
this is theFrenchConnection
this is as good as a confession to masterminding the takedown0'DSK
is he attracted to christineL? is he rubbing his vintage chanelBarbi in paulW's face? stay tooned!
The Bernank really went balls to the wall defending the whys and hows as the 'bigness' of the Fed's balance sheet today, Slew, and I interpreted his words as essentially saying that they had to suck up all the toxins back in 2008 and forward, but he almost made it seem as if he was conceding that he won't be increasing the size of it now that Plosser and others (Warsh was on Charlie Rose last night and dissing The Bernank very hard, at least very hard given that Warsh is served on the FOMC) seemed to be mounting some sort of mutiny.
TIS, Ben has Trillions to go yet, that is one reason he fiercely defends his printing---EU banks, EU gub'mints, Japan, and of course, we have the TBTF here that will need much more, not to mention the hundreds of thousasnds of lcoal gub'mints that are lining up with their hands out.
When O Bama re-elected the mutiny will be snuffed
Watch gas prices, once they reach a certain point ($5-7/gal), Bernank will be balls deep.
Politicians that have been otherwise going along to get along will start feeling the rising heat and tension. J6P wakes up at these price levels and starts asking questions when he can't afford to drive his Escalade to the Apple store (that's also a good time to short AAPL).
NO DOUBT
yet NO ACTION
SHUT DOWN THE BANKERS
The Owners of the 12 Central Banks:
- Rothschild Bank of London
- Rothschild Bank of Berlin
- Lazard Brothers of Paris
- Israel Moses Seif Banks of Italy
- Warburg Bank of Amsterdam
- Warburg Bank of Hamburg
- Lehman Brothers of New York
- Kuhn Loeb Bank of New York
- Goldman, Schs of New York
- Chase Manhattan Bank of New York
NO ACTION
whether there are about 300 3000 or 3000000 VERY POWERFUL__ individuals who Own The FED
http://whistleblowers.freehosting.net/federal_power.htm
SHUT THEM DOWN
or
STFU
I sure hope that Paul Brodsky rebukes this installment for us!
Here is Peter Schiff's response to the series.
Excellent post - It's an hour long and well worth the view.
Lengthy discussion regarding the depression, booms and busts, the inconsistencies of the FED view of a gold standard vs reality with strong examples, inflation, and even an interesting debate regarding the BLS and how it contributes to the CPI which Peter handles very well.
Thanks XitSam
ZH , Tyler
I just cannot read it or puke right now.Thanks though, appreciate it.
Bernanke & Co are literally dumbshits:
As soon as Bernanke was appointed to the Chairman of the Federal Reserve, he initiated a "tight" money policy (ending the housing bubble in Feb 2006), for 29 consecutive months (out of a possible 29, or at first, sufficient to wring inflation out of the economy, but persisting until the economy plunged into a depression).
The FOMC continued to drain liquidity despite its 7 reductions in the FFR (which began on 9/18/07). I.e., despite Bear Sterns two hedge funds that collapsed on July 16, 2007, (Bear Stearns’ two subprime hedge funds declared bankruptcy on July 31, 2007), the FED maintained its “tight” money policy (i.e., credit easing, not quantitative easing).
Bernanke didn’t initiate an “easy” money policy until Lehman Brothers later filed for bankruptcy protection (& it was one the Federal Reserve Bank of New York’s primary dealers in the Treasury Market), on September 15, 2008. The next day AIG’s stock dropped 60%.
By waiting to inject liquidity, risk aversion was amplified, & haircuts were increased, additional and/or a higher quality of collateral was required, liquidity mismatches grew, funding sources dried up, long-term illiquid assets went on fire-sale, a counterparties’ creditworthiness was examined more carefully, all of which lead to runs on financial companies.
Bernanke relentlessly drove the economy into a recession/depression, creating an un-employment, & under-employment rate, nightmare, etc.
@flow5
Dude, Thanks a lot for this synopsis.
I didn't pick this tale up until september od '08 when I left the forest to visit my grandson in LA, so I never had the whole history of Ben's reign until just a few minutes ago---thanks, again.
Maybe, the shame of his first 29 months tossed him so hard on the other side of the ring that his poor brain is addled. All I remember is seeing him when he first began his propaganda for the QEing and what a really terrible liar he was. He has improved as a liar, but his brain still seems quite addled thank you om
Word vomit!!!
Almost reminds me of my old Skinny Puppy CD's....
The # you have reached has been decimated, robo'd, algo'd, printed, prophesized, committed to memory and instantaneously (poof!) vaporized...
"The # You Reached" (has been disconnected) - http://soundcloud.com/humboldtlagoon/the-you-have-reached
I had to blow it up pretty big and use a magnifyiong glass, but I was finally able to see the word, "PONZI."
The shape of the text looks like a grenade.
I see "end". I see "Fed". Where's "the"?
So many great lines, but I liked this from page 16 in particular: "With the available supply of Treasuries and GSE securities reduced by Fed buying, investors were willing to accept lower yields."
That's like saying, "With the availability of newly constructed housing camps, Jewish citizens were willing to leave their homes."
Actually, it appears Ben ran his speech through the software prior to actually speaking the words.
Evidently he's aware of this algo too.
What we need is a precog algo like the ones being devloped by the NSA in Utah.
C'mon folks, this is rocket science. What do you want to do, where do you want to go?
Our best defense and weapon is surrender. 150 years from now, what's important?
Alice in Wonderland:Alice-“What road should I take?” Cheshire Cat- “That depends, where do you want to go?” Alice: “I don’t know”. Cat: “Then it doesn’t matter”.
jmo.
oOooOoH ben shalom bernanke drink your gin and tonica and smoke your marajuanica
The picture of the Federal Reserve with sunlight should be changed to New Orleans after katrina hit and the levees break (thank you US Corp of Engineers)
a balloon fool is smarter than the Bernark, yet he is the pseudo what?
Anyone notice the tear drop looks like a bubble? :p
I thought they were deliberately shaping the word cloud like Truck Nutz...
Stock market bottom April 2012 - http://stockmarketbottom.com