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CTRL+SPIN: Ben Bernanke Concludes The Fed Propaganda Tour
Today at 12:45pm will be the 4th and final lecture given by the CTRL+P spinmaster himself to young and easily impressionable GW students. The propaganda tour will conclude as Ben shares his views on the "The Aftermath of the Crisis" where we will most certainly learn that the primary consequence is a parabolically rising global balance sheet, where $7 trillion in excess liquidity has been dumped in the world in the past 5 years by the big 5 central banks. That and the fact that virtually all energy commodities are trading at or near all time records. We will likely also learn that while it is speculators' fault that gas is at an all time high for this time of year, it is not speculators fault that the S&P is at a 4 year high. In fact, we will learn a whole lotta stuff that those who took the red pill some time ago, may have forgotten. Watch it live below.
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I wonder if students will ask about why the fed bought 61% of the US debt issuance in 2011
http://online.wsj.com/article/SB1000142405270230445000457727975427539306...
That is easy to answer. Animal spirits.
Wez at the chat were having trouble w/ the link so if anyone else is:
http://www.c-span.org/Live-Video/C-SPAN3/
The 3rd anti christ brings about a period of global lawlessness.
Nostradamus named him 'The Bearded Star' - (No, not a comet)
and MABUS
Bernanke worked for
obaMA BUSh
O rly?
Yeah dude.
REALLY.
You seen there freemason handshake?
Bernanke ranks higher than Obama.
RAGNORAK BITCHEZ!
This is all you need to know about the FED reserve:
http://www.rense.com/general79/tril.htm
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.
Truth,
When Bernanke says the Fed doesn't print money, he's selling an idea to the 98% who don't know and don't care, and will readily believe him when it is repeated over and over.
He's either psychotic, or parsing words, like Clinton saying he didn't have sex with that woman, or trying to define what is really is.
I say he's psychotic.
He obviously picks his audiences very carefully, except when he's on the hill, in front of a committee.
Interesting that the Fed chair can't be fired, except under extreme circumstances. He basically doesn't answer to anyone. Not publicly anyway.
my friend's sister makes $74/hr on the computer. She has been out of a job for seven months but last month her check was $17871 just working on the computer for a few hours. Read more on this site .... http://bit.ly/wYpMrv
Added it to my ddos software database list.
You nailed it. What is keeping Ben up at night, assuming he cares, is how are he and Timmeh going to keep the Treasury rates from cracking higher now that the world is realizing the U.S. is far from being fixed.
Yes, that and the fact that the Fed is leveraged up over 50 to 1.
DavidC
It's not all bad news for Bernanke.
Today's rappers worship him more than pussy.
Jay-Z and Lil' Wayne arent gay
but they sure suck Bernankes dick all day.
Of course they won't. They've been pre-screened.
Only students who believe the Fed did NOT cause the bubble in the first place, and DO believe they solved everything by printing ever bigger amounts of currency, are allowed to enter.
Bueller.......Bueller.......................Bueller
Constitution.....Constitution.................Constitution?
THE ROOF THE ROOF THE ROOF IS ON FIIIRRREEEEEE!
"Now, if you'll just direct your attention to this chart of AAPL...and that concludes my Fed is the Recovery proof. Any questions?" - Bennie
And nevermind that oil chart, and food chart...or your $50,000 student loan that will haunt you the rest of your life because youll never have a decent job.
I've got a question, Mr. Bernanke.
If you loan out trillions of dollars at 0% interest over the years,
and have to pay that shit back with compounding interest of over 0%,
then aren't you totally fucked down the road?
Yeah. I thought so.
Bow down before the one you serve
You're going to get what you deserve
God money's not looking for the cure
God money's not concerned about the sick among the pure
God money let's go dancing on the backs of the bruised
God money's not one to choose
http://www.youtube.com/watch?v=cV2EUUF47Ms&feature=fvsr
A classic line there.
I would +1 you, but I believe starting a reply with italics disables that ability
You just gave MDB a gift of no junks..
Speaking of which, is it coincidence we don't see MDB post when Bernanke is speaking? Could it be that....
I'm guessing that MDB is a Tyler.. Need to smack the hornets nest once in a while.. What's fight club when no one fights..
For the upteenth time, it is not italics that does it.
To summarize " I made one mistake, that was when I thought I made a mistake but realized I was actually right again"
Greenspan: “I have found a flaw. I don’t know how significant or permanent it is. But I have been very distressed by that fact.”
Rep waxman: "In other words, you found that your view of the world, your ideology, was not right, it was not working,"
Greenspan: "Absolutely, precisely, you know, that’s precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well."
Me shouting at the screen: "That's because you are a stupid CUNT."
BurroDonkey is looking a little fatigued.
Apparently $Money isn't everything...
I guess at GW U the students always wear suits to class....or they just want to look their best and impress ChairSatan Bennie. These kids are the spawn of Chairsatan!
Look at my right hand and not the left..
BRICS Summit in Delhi "successful": China
Now no one except the FED will even touch a Federal Reserve Note. Gee, real great work there Ben...dont mind the $6 gas and the fact that you can hardly buy food anymore....real swell job there central banksters.
Some one find that man a job.
lmao, is like opening a new line of credit to pay for the old maxed up credit cards, the FED is now the #1 holder of US debt, is comic at best, how can they even keep a serious face is a mistery, actually, BEN cannot even keep up with all the funny faces he makes when he his asked a straight question... FUCKING COMEDY SHOW FOR UGLY ACTORS IN EXPENSIVE CLOTHES
Mr. Chairman, is there any way to turn worthless paper into gold, and if so why would anyone want to do so?
Ripped and twisted from "The Aeorplane Over the Sea" - Jeff Mangum
What a wonderful farce
Copter Ben is an Arse
Fiat’s circling all round the globe
What a horrible dream
A flash crash on the screen
In a blink of an eye and be gone from me
print and fleece!
Copter Ben should be a detainee!
And one day this will die
As our fiat will fly from Ben’s Copter over the sea
Now our country’s still young
But we’re coming undone
Monetize everything we can see
We were free
but now captive to a debased currency!
Brooksely's ghost all around
Heard her voice as it warned the CFTC
Loud and Clear
but now our notes all float and fly above the trees
Now how I remember Alan G
Printed more currency
and moved his mouth to make markets heave
All his lies we believed
And now we weep and we don't know
where did all the treasure go
Ben’s Copter and the ink jets flow
But it’s the end of their game
What a wonderful farce
Copter Ben is an Arse
Fiat’s circling all round the globe
And when we crash in a pile
I'll laugh and Ill smile
I'll be laughing with everyone I see
Can't believe how strange it is to own anything but gold
somebody please ask where they got all the money to expand the balance sheet! Then follow up with how did this effect the purchasing power of the dollar! would like to hear spin meister spin that.
Send in the Muppets!!
just after I posted the above, he did in fact answer that question, however in a fake spin cycle manner. he said they simply credited the banks accounts at the fed for the bonds they purchased. Duh. But Ben, where did you get the money to credit the banks accounts at the fed?
Well, at least he didn't print it...
Zeros on a keyboard don't constitute printing.
DavidC
Treasury debt purchases (and sales) are called "open market operations." How do open market purchases add to bank reserves and deposits? Suppose the Federal Reserve System, through its trading desk at the Federal Reserve Bank of New York, buys $10,000 of Treasury bills from a dealer in U. S. government securities. In today's world of computerized financial transactions, the Federal Reserve Bank pays for the securities with an "telectronic" check drawn on itself. Via its "Fedwire" transfer network, the Federal Reserve notifies the dealer's designated bank (Bank A) that payment for the securities should be credited to (deposited in) the dealer's account at Bank A. At the same time, Bank A's reserve account at the Federal Reserve is credited for the amount of the securities purchase. The Federal Reserve System has added $10,000 of securities to its assets, which it has paid for, in effect, by creating a liability on itself in the form of bank reserve balances. These reserves on Bank A's books are matched by $10,000 of the dealer's deposits that did not exist before.
The money is electronically created out of thin air.
What is wrong with ZH chat !!! zzzz
"how do we pay for all of this"
By
"crediting banks"
= Counterfeiting money
Monetary base = Where they shove all the inflation to prevent price instability in commodities.
They dont tell you that the banks can shove these reserves anywhere they want... thats why hes nervous.
At any moment the banks could unlease a flood gate of inflation into the economy.
The only way the Fed can stop this from happening is by "bribing" the banks or by "being extorted " by the banks.
(banks say pay me or I release inflation), Fed says NO DONT DO THAT BECAUSE WE WILL SELF DESTRUCT and pays up.
Who's on first?.....http://www.youtube.com/watch?v=wfmvkO5x6Ng
"The fed has built up a lot of credability over the last 30 years"... really ben???
Filling those young minds full of lies and trash. Ben Bernanke is as honorable as Jon Corzine.
Yep, and after they get their degrees they can reminicse about how great the FED and Bernank is when they're working for $8 an hour at Burger King. If theyre lucky.
Should have paid for big 'ZEROHEDGE' banner to be placed above him in these speeches.
Did Bernanke also tell the children about the time he walked on water, or the time he was dead for three days and rose again?
I think he's more old book than new book, so he might not know that story.
"pay no attention to the man behind the curtain."
.
http://www.youtube.com/watch?v=YWyCCJ6B2WE
.
" Humbug is a person or thing that tricks or deceives or talk or behavior that is deceptive, dishonest, false, or insincere, often a hoax or jest.[1][2] While the term was first described in 1751 as student slang, its etymology is unknown. It is now also often used as an exclamation to mean 'nonsense' or 'gibberish'. When referring to a person, a humbug means a fraud or impostor, implying an element of unjustified publicity and spectacle. In Britain, the term is also used for certain types of candy."
from wiki
Are they selling Bernanke Tour 2012 tees?
Yep only $100,000.00 each!
So in a couple years, for the price of a cup of coffee.
What a fucknut. Now we are blaming people who's skills have eroded for not being able to land another job.
Should have hooked him up to lie detector and shown that on the screen while he was talking.
Wouldn't show anything because the lying is continuous.
Now that's a baseline!
Did any students ask Benny why the Fed refused Bloomberg's freedom of info act, which sough to discover the total amount of money the Fed doled out to banks, which the Fed eventually said was not valid because they are not within a branch of the government, and are stored in new York..??
Did Benny explain why some of the $7,000,000,000 the Fed doled out had to be kept secret..??
Did any students ask
Umm...I think the "student" questions were given to them as they walked into the theater.
Dear Bennyboy,
Look inside,
Look inside your tiny mind
Now look a bit harder
Cause we're so uninspired, so sick and so tired of all the bullshit you harbor
Fuck you,
Fuck you very, very much
Cause we hate what you do
And we hate your whole crew
So please don't stay in touch
E.T.Cetera,
Indoctrination by any other name
like the chairsatan, we can chuckle that perhaps someday these students' children will see this and want to kill the styooopid, greedy, self-centered, hedonistic mutherfuking sheep who spawned them...
Monday March 26 12:00pm
Gary Null - The Natural Living Show
http://archive.wbai.org/#ankor69
.
3/28/2012 @ 5:15PM |1,309 views
The Story Behind Today's MF Global Congressional Testimony
http://www.forbes.com/sites/francinemckenna/2012/03/28/the-story-behind-...
"..Unlike similar bankruptcies before that – Lehman and Refco – the broker dealer was not sold cleanly. There was eveidence of potential fraud on day 1, October 31. The regulators never should have allowed the holding company to be put in Chapter 11 – debtor in possession – versus Chapter 7. By doing so, Judge Glenn allowed the pirates – the executives who caused the shortfall – to continue to control the ship until Freeh was appointed Trustee for the holding company a month later. The customer assets that had been illegally pledged were seized by the “lender of last resort” as soon as bankruptcy occurred. I have evidence someone was worried almost immediately about a clawback. That party took the excess collateral for the loan as well as the value of what they lent. They will have to be forced to give it back.
And with that you explain the huge hole in the balance sheet.
Everything we’ve heard since then – revelations, testimony, secret emails and admissions – supports my theory. They only thing left is to identify the “lender of last resort”. I have my suspicions. I suspect the trustees and investigators know who that party is, too. And it’s only one. No time for lots of deals with several and better to limit those who know what really happened. In the meantime, we have tons of blather about what Jon Corzine did or did not authorize in reference to legitimate transactions with JP Morgan.
What these recently revealed emails do prove is that MF Global was capable of the two-step process needed to wipe customer characteristics off a portfolio of assets so they could be used by a house account to pledge for the loan. In that way the assets were “monetized” without the settlement delays they were already experiencing. The two-step is a necessary step for my “lender of last resort” theory." ....
We need a new monetary system, this one is a relic of the past.
Something based on a form of redemption would be great.
The current system is a "charge" and "discharge" system (incur a liability to create an asset, pay the asset off with a liability of someone else".
The problem with this system is, its easy to create tons of liabilties (IOUS / FRNS) and the balance sheet gets all messed up (IE: I can take on a shit ton of debt and get nothing for it)...
Need to go back to an Asset for an Asset basis.
many of do not like these same aspects of the system for the same reasons as you put up
this is why they buy gold and silver coinage for "later" and for "storingValue": there is no "liability"; no counterparty: no "note"
by doing so, they do not keep 'FRNs' in 'banks' (as far as is functional) and thus they are not "in" the monetary system of fiat and legalTender to the same degree as others, or those in debt for expenses, basically, like theCollective
people all over the world trade paper for gold and silver every day, and vice-versa, too; so, don't forget that "part" of your relicSystem
i don't understand what the hell keeps people from gasping this
i don't like there being taxes involved, and there should not be any taxes in the US for mint-produced coinage [seeConsititution] what a fuking absuridty! being required to use toilet paper to "pay" not to use fuking toilet paper where Constitutional money is concerned Baa, baa,...
but if this is your problem, considering gold and silver US mint-produced coinage as part of your "monetary system" seems the obvious solution, one that millions have already chosen
then, you will join the throngs who really could give a flying fuk about any "relics" or "monetarySystems", either; and, who usta own canoes
i can't afford a gram of gold or silver right now, myself, and i hafta hustle to make ends meet all the time
old and poor is better is better than working and poor...
...see, i'm still learning!
Wow...the Bernanke just blamed the Federal Reserve for the housing crisis.
doubt anyone will repeat that quote.
"the stability of the world war II period" ?
he said it, i hope these kids are not paying
money to sit and listen to this garbage. alas,
they surly are spending borrowed money to sit
there like frogs in a pot on the burner.
perhaps he should have others on a panel with him Id' suggest:
gobbels
Putin
Rove
Kim of North Korea
additions to the list welcomed by others.
he seems like a very likeable and very brilliant guy. also, although I don't agree with him, i believe he believes he's doing the right thing given the circumstances,
i give you a ^+^ for possibly channeling some of the students' thoughtz, here...., u_bro
I'd ask about "financial repression"
for those that don't know can be looked up
http://www.bloomberg.com/news/2012-03-11/financial-repression-has-come-back-to-stay-carmen-m-reinhart.html
Culture Project: Blueprint for AccountabilityWatch Full Program
http://fora.tv/2012/03/27/Culture_Project_Blueprint_for_Accountability
God these people are stupid, I could fix this mess in a week.
Step 1 Increase FDIC to cover the full amount of any and all deposits.
Step 2 Dissolve the banks who are too large to even allow to exist.... we cant have a handful of mega banks... if even one goes down THEY ALL god down, because each banks is interdependent on swaping reserves with eachother....
Step 3 Restructure the dissolved banks into atleast 50 banks (1 Federal Reserve Branch per state).
Step 4 Take the current amount of FDIC insured deposits (after the reform of FDIC) and divide the amount of gold held by the U.S. Govt by the FDIC balance.
Step 5 Issue a bond (from the U.S. Govt) equal to that amount determined in Step 4.
Step 6 The Fed will buy that bond and use thew new currency created (to buy the bond) to pay off FDIC liability (to make depositors whole).
Step 6 The rate of the bond will be 2% payable from the Fed to the U.S. Tax Payer (a bond with negative interest)
This inflates the currency at a locked rate of 2% (guaranteed).
This removes the national debt.
This backs the money with gold @ a locked in inflation rate (devaluation).
Ban Fractional Banking (do not allow small banks to expand the money supply through lending) and force them to lend the actual money of depositors.
The govt will have ZERO debt obligations to the FED.... (no interest payments), and can operate on the coupon earnings from the FED + Tax Revenue.
After all this is done, reduce FDIC insurance back to around 300,000$ and increase the deposit insurance by 2% a year.
DONE.
Problem Solved.
Zero National Debt
Zero interest payments for the govt
Institutions are accountable
Banks cant lend what they cant afford.
It's not that simple, the entire financial system has become weaponized in the last 30 years. It's the great showdown G5 vs the BRICS behind the media curtain and their is no way they are going to let the american people or anyone else for that matter take control of their most powerful weapons and the root of all power.
We know that protest doesn't work though the Tea Party and the Occupy movement. I am not going to tell anyone to ensight revolution there will be knocks on my door but unfortunately that is the only way humanity will gain back control. The only choice we have as members of humaine society is to pull ALL our assets out of this paper/electronic system, don't play their game or give them ammo.
Be prepared for the worse and hope for the best also remember to be the change you want to see in the world.
how exactlt does one pull ALL of their assets out of the paper/electronic system?
SELL, withdraw and convert into hard assets, keep a small bank account for paycheques and bills.
and that is why you, Ron Paul, and any other person that understands the concept of sound money and how it magically limits government will never be allowed to hold the wheel...
now back to work screwing the US taxpayer