CTRL+SPIN: Ben Bernanke Concludes The Fed Propaganda Tour

Tyler Durden's picture




 

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.



Streaming by Ustream

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 03/29/2012 - 12:47 | 2300995 dereksatkinson
dereksatkinson's picture

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...

Thu, 03/29/2012 - 12:53 | 2301014 riphowardkatz
riphowardkatz's picture

That is easy to answer. Animal spirits.

Thu, 03/29/2012 - 13:08 | 2301075 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Wez at the chat were having trouble w/ the link so if anyone else is:

http://www.c-span.org/Live-Video/C-SPAN3/

Thu, 03/29/2012 - 13:21 | 2301108 NewThor
NewThor's picture

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!

Thu, 03/29/2012 - 13:36 | 2301165 mrgneiss
mrgneiss's picture

This is all you need to know about the FED reserve:

http://www.rense.com/general79/tril.htm

 

Thu, 03/29/2012 - 14:54 | 2301394 TruthInSunshine
TruthInSunshine's picture

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.

Thu, 03/29/2012 - 15:06 | 2301456 bobola
bobola's picture

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.

 

Thu, 03/29/2012 - 20:33 | 2302375 RussellChester8
RussellChester8's picture

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

Fri, 03/30/2012 - 09:21 | 2303211 Colonial Intent
Colonial Intent's picture

Added it to my ddos software database list.

 

Thu, 03/29/2012 - 12:53 | 2301015 Village Smithy
Village Smithy's picture

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.

Thu, 03/29/2012 - 13:17 | 2301093 DavidC
DavidC's picture

Yes, that and the fact that the Fed is leveraged up over 50 to 1.

DavidC

Thu, 03/29/2012 - 13:27 | 2301126 NewThor
NewThor's picture

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.

Thu, 03/29/2012 - 13:13 | 2301086 EscapeKey
EscapeKey's picture

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.

Thu, 03/29/2012 - 12:49 | 2300997 RyanW525
RyanW525's picture

Bueller.......Bueller.......................Bueller

Thu, 03/29/2012 - 13:23 | 2301116 NewThor
NewThor's picture

Constitution.....Constitution.................Constitution?

THE ROOF THE ROOF THE ROOF IS ON FIIIRRREEEEEE!

Thu, 03/29/2012 - 12:50 | 2300998 LongSoupLine
LongSoupLine's picture

 

 

 

"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

Thu, 03/29/2012 - 13:21 | 2301107 SheepDog-One
SheepDog-One's picture

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.

Thu, 03/29/2012 - 13:25 | 2301123 NewThor
NewThor's picture

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.

Thu, 03/29/2012 - 13:33 | 2301151 RallyRoundTheFamily
RallyRoundTheFamily's picture

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

 

Thu, 03/29/2012 - 12:51 | 2301000 kahunabear
kahunabear's picture

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.

A classic line there.

Thu, 03/29/2012 - 12:54 | 2301017 BlueCollaredOne
BlueCollaredOne's picture

I would +1 you, but I believe starting a reply with italics disables that ability

Thu, 03/29/2012 - 13:05 | 2301058 iDealMeat
iDealMeat's picture

You just gave MDB a gift of no junks.. 

Thu, 03/29/2012 - 13:21 | 2301106 mayhem_korner
mayhem_korner's picture

 

 

Speaking of which, is it coincidence we don't see MDB post when Bernanke is speaking?  Could it be that....

Thu, 03/29/2012 - 13:59 | 2301244 iDealMeat
iDealMeat's picture

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..

Thu, 03/29/2012 - 15:46 | 2301584 XitSam
XitSam's picture

For the upteenth time, it is not italics that does it.

Thu, 03/29/2012 - 12:52 | 2301005 riphowardkatz
riphowardkatz's picture

To summarize  " I made one mistake, that was when I thought I made a mistake but realized I was actually right again"

Fri, 03/30/2012 - 09:17 | 2303183 Colonial Intent
Colonial Intent's picture

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."


Thu, 03/29/2012 - 12:52 | 2301012 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

BurroDonkey is looking a little fatigued.

Thu, 03/29/2012 - 12:55 | 2301021 carbonmutant
carbonmutant's picture

Apparently $Money isn't everything...

Thu, 03/29/2012 - 12:56 | 2301022 Samual Adams
Samual Adams's picture

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! 

Thu, 03/29/2012 - 12:59 | 2301033 Atomizer
Atomizer's picture

Look at my right hand and not the left..

BRICS Summit in Delhi "successful": China

Thu, 03/29/2012 - 13:23 | 2301114 SheepDog-One
SheepDog-One's picture

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.

Thu, 03/29/2012 - 13:01 | 2301042 q99x2
q99x2's picture

Some one find that man a job.

Thu, 03/29/2012 - 13:01 | 2301045 Silveramada
Silveramada's picture

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

Thu, 03/29/2012 - 13:02 | 2301049 optimator
optimator's picture

Mr. Chairman, is there any way to turn worthless paper into gold, and if so why would anyone want to do so?

Thu, 03/29/2012 - 13:02 | 2301051 WALLST8MY8BALL
WALLST8MY8BALL's picture

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

 

Thu, 03/29/2012 - 13:03 | 2301054 undercover brother
undercover brother's picture

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.

Thu, 03/29/2012 - 13:08 | 2301070 ZeroChance
ZeroChance's picture

Send in the Muppets!!

Thu, 03/29/2012 - 13:09 | 2301078 undercover brother
undercover brother's picture

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? 

Thu, 03/29/2012 - 13:18 | 2301100 DavidC
DavidC's picture

Well, at least he didn't print it...

Zeros on a keyboard don't constitute printing.

DavidC

Thu, 03/29/2012 - 13:30 | 2301138 AlaricBalth
AlaricBalth's picture

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.

Thu, 03/29/2012 - 13:04 | 2301057 resurger
resurger's picture

What is wrong with ZH chat !!! zzzz

Thu, 03/29/2012 - 13:08 | 2301059 Dre4dwolf
Dre4dwolf's picture

"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.

 

Thu, 03/29/2012 - 13:07 | 2301068 dryam
Thu, 03/29/2012 - 13:09 | 2301076 KingZola
KingZola's picture

"The fed has built up a lot of credability over the last 30 years"... really ben???

Thu, 03/29/2012 - 13:15 | 2301091 yogibear
yogibear's picture

Filling those young minds full of lies and trash. Ben Bernanke is as honorable as Jon Corzine. 

Thu, 03/29/2012 - 13:19 | 2301102 SheepDog-One
SheepDog-One's picture

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.

Thu, 03/29/2012 - 13:17 | 2301094 SheepDog-One
SheepDog-One's picture

Should have paid for big 'ZEROHEDGE' banner to be placed above him in these speeches. 

Thu, 03/29/2012 - 13:22 | 2301103 Normalcy Bias
Normalcy Bias's picture

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?

Thu, 03/29/2012 - 16:07 | 2301658 Bubble
Bubble's picture

I think he's more old book than new book, so he might not know that story.

Do NOT follow this link or you will be banned from the site!