On Bernanke's Legacy In His Own Words

Tyler Durden's picture




 

Overnight the WSJ's Jon Hilsenrath did his best to entirely redirect the discussion of Bernanke's legacy by setting up so many strawmen even TS Eliot would be totally lost. Instead of focusing on the person who was, together with his predecessor, was directly responsible for a crisis, which over the course of 30 years of "great moderation" pulled over $30 trillion in future demand to the present (benefiting almost exclusively the banker class), and which will guarantee pain and suffering for generations of Joe Sixpacks, he portrayed Bernanke in the light of St. Ben, or the person who may or may not have done enough to save Capitalism. We fail to fall for the bait. We hope nobody else will either. Which is why we present the following compilation of documented Chairsatan greatest hits from the public record. It speaks more than any planted article ever could.

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Fri, 08/31/2012 - 08:43 | 2752036 buzzsaw99
buzzsaw99's picture

capitalism, lulz

Fri, 08/31/2012 - 08:58 | 2752104 LongSoupLine
LongSoupLine's picture

Ben - "Jon you still have a little something left on your chin."

Jon - "thanks Ben".

Ben - "no prob...now, back on your knees...I'm ready for another "interview".

Fri, 08/31/2012 - 09:05 | 2752129 Badabing
Badabing's picture

Ben Dover in J-hole

Before he speaks short PMs long dollar.

When finished reverse and have a nice weekend.

Fri, 08/31/2012 - 09:29 | 2752220 kaa1016
kaa1016's picture

These are the most dangerous people in the world. They were completely wrong then based on their "models" and now we should believe them and those same "models"? The problem is and was too much debt and instead of letting de-leveraging happen, which it has to in order to ever see any type of sustainable growth, they continue to go sow the seeds for the next economic cataclysm. I can't believe people keep falling for this shit...

Fri, 08/31/2012 - 10:07 | 2752392 DeadFred
DeadFred's picture

Legacy interviews happen when you're about to retire right? What does this say about the election and what does that say about the S&P in the next months? Just wondering.

Fri, 08/31/2012 - 10:19 | 2752428 Precious
Precious's picture

You didn't create that legacy.

Fri, 08/31/2012 - 09:07 | 2752139 AbelCatalyst
AbelCatalyst's picture

The real indicator of The Bernanks legacy in that video was the price of gold and silver flashing on the screen next to him... Wow!!

Fri, 08/31/2012 - 10:08 | 2752146 withnmeans
withnmeans's picture

Anybody happen to be watching RT late last night?  China and Russia held talks to do all their energy trading "and perhaps more" in their currencies. 

They want to get away from using the Dollar and make their currencies the new order of the day.

Looks like we are getting all so close to seeing the fan blades getting really messy!

Also, we are getting close to the imaginary 40% number in quite a few countries. This number represent how much of your take home pay is spent on FOOD. It is said that when people start spending over 40% on food, RIOTS will begin...

Cheers!!!

Fri, 08/31/2012 - 12:26 | 2753033 GERxit
GERxit's picture

Not the first time that the world starts doubting the reserve currency quality. Happened on a larger scale at the end of 60s/beginning of 70s -> e.g. French were getting their gold out of the US with war ships and openly doubted the US reserve status like many others as they had to keep on buying dollars and sell their own currencies to stay within currency bands of Bretton Woods essentially funding the US' wars. What followed was a huge liquidity drain caused by Volcker's interest rate rises sold under the "fight inflation" tag aimed to teach the world a lesson to trust in the value of the USD.

The only REAL asset the US has is the reserve currency status which involves the settlement of all major trade in their currency - especially given the huge deficits the US is running. The US can't afford to lose this status...

I'm curious what happens this time. Raising interest rates with this kind of indebtness seems hard to do to say the least.

Fri, 08/31/2012 - 08:46 | 2752039 GetZeeGold
GetZeeGold's picture

 

 

You can't touch this!

Fri, 08/31/2012 - 08:49 | 2752067 earnyermoney
earnyermoney's picture

If only WB could photoshop the Bernake in a gold urban suit with lots of bling as he walks the streets of J-Hole. MC Hammer baby. Can't touch this!

Fri, 08/31/2012 - 08:45 | 2752045 alien-IQ
alien-IQ's picture

I can sum up his legacy in far fewer words:

I came.

I destroyed.

I got paid.

Fri, 08/31/2012 - 09:26 | 2752210 eatthebanksters
eatthebanksters's picture

I made the mistake if trusting what this guy (and others) were saying.  My reward was to lose 75%of my net worth, my home to foreclosure and watch my business shuttered.  I was semi retired and enjoying my 'productive' years and worked as a volunteer with kids sports.  Five years later with no decent paying jobs for a guy my age in my industry, I have moved into a studio in a big city and am trying to start over.  Fuck these assholes!

Fri, 08/31/2012 - 08:45 | 2752046 Meesohaawnee
Meesohaawnee's picture

only a legacy can ramp crude a buck 20 on vapor . this just gets worse by the day. i cant even laugh anymore. fucking sad what this country has become.

Fri, 08/31/2012 - 09:02 | 2752119 SheepDog-One
SheepDog-One's picture

No doubt, I dont care what they do or dont do at this point or whatever criminals bullshit 'legacy' we're already destroyed....I hope everyone had fun tradin it.

Fri, 08/31/2012 - 09:23 | 2752197 fonzannoon
fonzannoon's picture

Sheep one of my good friends is a big time trader for a big time bank. As far as I know he is not on here to see people like you and LOP constantly hammering everyone with truth. He was always saying stuff like don't fight the fed etc. etc. I texted him this morning and he wrote me back that this qe shit has to stop. I wrote back that I was surprised to hear him say that. He wrote back "I hope we are alive in ten years from this disaster".

Shows me people are slowly, painfully drawing the same conclusions.

Fri, 08/31/2012 - 08:45 | 2752048 LULZBank
LULZBank's picture

Bernanke's Legacy: He did'nt do that...

Fri, 08/31/2012 - 09:06 | 2752135 machineh
machineh's picture

If Chas. Ponzi had had the foresight to patent and copyright his pyramiding scheme, the Bernank would be nothing but an obscure licensee.

Fri, 08/31/2012 - 19:18 | 2754127 jimijon
jimijon's picture

well help me nominate him on facebook!

http://www.facebook.com/CharlesPonziForANobel

cheers

 

Fri, 08/31/2012 - 08:47 | 2752055 fonzannoon
fonzannoon's picture

Did someone leak QE3? Wtf is up with the futures?

Fri, 08/31/2012 - 08:48 | 2752058 buzzsaw99
buzzsaw99's picture

hopium

Fri, 08/31/2012 - 08:55 | 2752096 alien-IQ
alien-IQ's picture

just inflating the crash mat.

Fri, 08/31/2012 - 09:18 | 2752173 ar01
ar01's picture

All it means is more downside when QE3 isn't announced -- short SPY/long gold today

Fri, 08/31/2012 - 08:48 | 2752057 Meesohaawnee
Meesohaawnee's picture

on second thought . let them do qe. crude will be 100 by 2pm. At least ill get to say adios obamma...Your the great enabler of this fraud. You can call ben right now and tell him to stop it.

Fri, 08/31/2012 - 08:51 | 2752071 Ivanovich
Ivanovich's picture

And let us not forget, no more Obama means no more Bernanke, as Romney is on record saying he would replace Ben.  Now, whether he replaces Ben with another ben is probably a foregone conclusion.  But still, no more fucking Ben.

Fri, 08/31/2012 - 08:54 | 2752091 LULZBank
LULZBank's picture

"Westerners" will go down as biggest mugs in history books.

Fri, 08/31/2012 - 10:24 | 2752480 i-dog
i-dog's picture

Indeed. They still think that Ben, Barry, George, Tony, and the other placeholders, actually analyse situations and make decisions! ROFLMAO!!!

No doubt they also think that Ben is writing his speech all on his own, using his best joined-together, overnight in the light of a candle. Or, that Obomber programs his own teleprompter....

Dumb fucking sheep!!

Fri, 08/31/2012 - 08:48 | 2752059 eigenvalue
eigenvalue's picture

Is today's speech a prefared one? If so, we can know what's in his speech before 10:00.

Fri, 08/31/2012 - 08:48 | 2752060 vmromk
vmromk's picture

Why isn't this lying MOTHERFUCKER in prison ?

Fri, 08/31/2012 - 08:53 | 2752082 t_kAyk
t_kAyk's picture

Laws only apply to slaves. 

Fri, 08/31/2012 - 08:53 | 2752084 GetZeeGold
GetZeeGold's picture

 

 

 

Well he lied to Congress.....on TV no less!

 

But let's face it....Congress couldn't screw in a light-bulb these days.

Fri, 08/31/2012 - 09:34 | 2752235 spanish inquisition
spanish inquisition's picture

HAHA I thought of a joke!

Q: How many congressmen does it take to screw in a lightbulb?

 

 

 

A: $42,000,000.00

Fri, 08/31/2012 - 10:24 | 2752526 Badabing
Badabing's picture

Q: How many congressmen does it take to screw in a lightbulb?

Q: How many congressmen does it take to screw in a lightbulb into Bawarny Fwanks ass?

fixed it!

Fri, 08/31/2012 - 08:54 | 2752090 alien-IQ
alien-IQ's picture

Because there are no prisons in the Hamptons.

Fri, 08/31/2012 - 08:48 | 2752061 101 years and c...
101 years and counting's picture

right before his "big speech"  maybe some red-blooded american will put a bullet in ben's head today. 

Fri, 08/31/2012 - 08:49 | 2752065 q99x2
q99x2's picture

Bonzai that mother fucker.

Fri, 08/31/2012 - 08:51 | 2752070 Cursive
Cursive's picture

Ben knows that the Federal Reserve System was established for the sole benefit of big banks and, yet, he still naively clings to the idea that he can bring positive change.  Or maybe he just looks naive and really enjoys being a stooge for the banksters.

Fri, 08/31/2012 - 08:53 | 2752083 alien-IQ
alien-IQ's picture

He's not naive...he's just a liar.

Fri, 08/31/2012 - 08:53 | 2752079 youngman
youngman's picture

What is important is now the Fed has much more percieved power than the Congress.....everyone looks to Bernanke to "save" the country....and the world....that is what is scary

Fri, 08/31/2012 - 09:36 | 2752243 Spastica Rex
Spastica Rex's picture

If they could sanction physical combat in Congress, it might change everything.

Fri, 08/31/2012 - 08:53 | 2752086 Meesohaawnee
Meesohaawnee's picture

hes not niave at all. he knows what hes doing.. sociopathic personalities dont care about the wrath they place on others. They have no feelings..

Fri, 08/31/2012 - 23:02 | 2754495 FRBNYrCROOKS
FRBNYrCROOKS's picture

When can we see the MAGIC UNDIES?

Do Mitt's undies smell, less, untoward than mine?

How about Mrs. Romney's MAGIC UNDIES?

Can we smell these, very, sacred UNDIES?

The, 199 million, disenfranchised, voters want to know?

Does Diebold have a 1-800 number?

Fri, 08/31/2012 - 08:54 | 2752089 Hype Alert
Hype Alert's picture

What?  No green shoots?  I am disappointed.

Fri, 08/31/2012 - 08:55 | 2752094 Kaiser Sousa
Kaiser Sousa's picture

an ode to Ben.....

 

FUCK YOU BEN BERNANKE ALL YOUR BITCH ASS BANKER BRETHREN..

YOU BETTER DUCK, RUN AWAY AND HIDE OUT...

WHEN WE 'RE ROLLING REAL SLOW WITH THE LIGHTS OUT...

Fri, 08/31/2012 - 09:01 | 2752115 Jason T
Jason T's picture

the question is, is he lying or just a terrible forecaster?

Fri, 08/31/2012 - 09:08 | 2752124 SheepDog-One
SheepDog-One's picture

Video shows Bernank and CNBC should both have been shut down and arrested long ago. FUCK YOU Bernank!

Fri, 08/31/2012 - 09:05 | 2752132 Racer
Racer's picture

And to have this in his own words and that he cannot deny that they were misinterpreted....

why is this total moron still the most powerful man in the world???????????????

Fri, 08/31/2012 - 09:09 | 2752145 kalum
kalum's picture

May he RIH for destroying my life (and millions like me)

Fri, 08/31/2012 - 09:06 | 2752134 linrom
linrom's picture

which over the course of 30 years of "great moderation" pulled over $30 trillion in future demand to the present (benefiting almost exclusively the banker class

 

No, the real winners are the CEOs who sold forward shares at terminal valuations today for promise tomorrow. 

Fri, 08/31/2012 - 09:13 | 2752153 Never One Roach
Never One Roach's picture

NINJA Men: No job, no assets, zero down and 100 years to pay ...move in and never pay a dime on the mortgage thus dumping the entire loss on the taxpayers.

As long as this Uber-EXCredit continues, house prices will continue to slide. Selling houses to people who cannot afford them has never been a good idea.

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