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Federal Reserve 'Complete Re-education And Positivism' Plan About To Begin

Tyler Durden's picture




 

The global printer-in-chief is about to address educators in Washington DC (via the video conference stream below) focusing on the need for personal financial education in the wake of the financial crisis. We suggested a name for the plan: The 'Complete Re-education And Positivism' Plan but given the audience was K-12 educators of economics, the C-R-A-P Plan just did not seem appropriate. Perhaps his proposal is the BTFD Plan?

 

Will he suggest investors do what the Fed does and buy Treasuries? If not why not? Is buying Treasuries a bad idea? Are they not safe? What should a personal financial advisor propose to his clients? Do tell Ben, do tell? How much gold should a small-town teacher hold in their personal portfolio? We can only imagine the level of hypocrisy about to begin...

 

 

There will be a Q&A - perhaps we should note down some useful questions we'd all like to know? e.g. Where do the money trees grow?

 

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Tue, 08/07/2012 - 14:32 | 2685351 SeverinSlade
SeverinSlade's picture

TSYs are safe because they are backed by the full faith and credit of the US government (trust us).

Gold, on the other hand, is a barberous relic that is backed by nothing.  What?  It was the most stable form of money for 5000+ years?  Hold on a sec, I'm calling DHS and advising them to prepare a nice cell for you at your local FEMA camp.  Gotta put you conspiracy theorists somewhere.

Tue, 08/07/2012 - 14:35 | 2685368 Hippocratic Oaf
Hippocratic Oaf's picture

Is it a job job requirement that any new fed chairman must love to hear himself talk? 

Bernanke is actually catching up to Greenspan

Tue, 08/07/2012 - 14:46 | 2685406 optimator
optimator's picture

The requirement is to talk -- but not say anything.

Tue, 08/07/2012 - 14:51 | 2685424 hedgeless_horseman
hedgeless_horseman's picture

 

 

I pray a child asks the following question... 

The Federal Reserve regulates the banks, right?  The same banks that are shareholders in the Federal Reserve, right?  How is that not a conflict of interest?

Tue, 08/07/2012 - 15:04 | 2685442 engineertheeconomy
engineertheeconomy's picture

I wish a child would ask him why the hell its ok for him to print himself an unlimited quanity of money for the cost of paper and ink, but it's not ok for "we the people" to govern ourselves and print our own godamned money

then I wish the child would suggest to him that he print the word "Principle" on the green Dollars that he loans out, and print the word "Interest"  on some RED Dollars (that never actually get loaned out), so that he could learn that in order  to be able to pay interest (at any percentage rate) you would have to be able to defy the laws of known Physics

Tue, 08/07/2012 - 15:24 | 2685519 ZerOhead
ZerOhead's picture

BTW.. thats principal not principle. As we all know banking, like raping and pillaging, has no principles...

Great idea on the GREEN/RED dollars thing.

Perhaps RED dollars (for interest payment) can best be best explained as GREEN dollars that have't been born as debt servitude yet...

Tue, 08/07/2012 - 15:27 | 2685558 engineertheeconomy
engineertheeconomy's picture

Somebody could come up with a Monopoly game for kids (and their mentally challenged teachers that appear to have severe cognitive difficulties), where you take out an additional loan to pay the interest on your existing loan, every time you pass go. Oh, and inflation causes the price of everything to double every throw of the dice. One more thing, the Banker gets to print himself all the money he wants, no exceptions. Seems like a fair game to me...

SOMEONE DO IT

PLEASE!

Tue, 08/07/2012 - 15:45 | 2685608 economics9698
economics9698's picture

Kids the Federal Reserve is your master.  No matter how hard you work and how much money you save we can take your money and possessions anytime we want. 

If you make $200 we can print $300.

If you make $500 we can print $600.

We choose the banks that get the money; we can buy anything we want because we print the money.

Hollywood, CBS, ABC, NBC, politicians, businesses, revolutions, anything we want.

And we fool you every time by blaming capitalist, speculators, China, Russia, Japan, and the gullible fools fall for it every time.

We are Gods chosen people and when we get a chance we will kill as many Goyums as possible except the chicks we can fuck on the weekends.

Tue, 08/07/2012 - 15:54 | 2685631 Aziz
Aziz's picture

Ben Bernanke has a fucking awesome beard.

Tue, 08/07/2012 - 16:06 | 2685660 engineertheeconomy
engineertheeconomy's picture

The cocksucker has sunk to an all time low today. He's licking cum off of a donkey dong, and he's doing it for a few extra worthless cents that he doesn't even need. The guy knows no shame. He has no moral compass. No integrity. No values. No dignity. No self respect. He gives new meaning to the word "Malevolent". I can't think of a punishment painfull enough for the son of a bitch

Tue, 08/07/2012 - 16:33 | 2685729 engineertheeconomy
engineertheeconomy's picture

"Complete re-education and positivism plan for Educators"

Re-education = Incrementally increasing the BRAINWASHING REGIMEN

Positivity = Complete submission and blind obedience without question or any thought whatsoever

Educators = Accomplices in Crime, for a meanial paycheck about to be sucked into a black hole  called inflation

Tue, 08/07/2012 - 16:44 | 2685757 engineertheeconomy
engineertheeconomy's picture

And where did they find all those Teacher ACTORS?

They should send the entire lot of them to IRAN to be HUNG

Tue, 08/07/2012 - 23:02 | 2686602 Temporalist
Temporalist's picture
GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit

http://www.youtube.com/watch?v=T0jpso4jDC4&feature=youtube

 

 

Tue, 08/07/2012 - 19:45 | 2685663 The Big Ching-aso
The Big Ching-aso's picture

 

 

This appears to be a short yellow bus accelerated online program.

 

Tue, 08/07/2012 - 20:06 | 2686243 AGuy
AGuy's picture

Reminds me  of the old Ronco commericals back in the 1970s and 1980s. Anyone remember the Ronco Pocket fisherman?

http://www.youtube.com/watch?v=64preJDLlp8

The Feds new commerical, for the Bernak-O-matic:

"No longer do you need to worry about CDO and Subprime loans gone bad. With the Benank-O-Matic you can print new cash on demand. Its so small it can fit in side of your back-pocket. With is invisble cloak it can be hidden in the smallest places so no one knows you have it."

[Cut to customer: the Banker]. I was worried that the rating agencies would cut our company's credit rating to Junk once they discovered all of the crappy assets we had. But with the Bernake-O-Matic, we were able to re-inflate our balance sheets with newly minted cash! Thanks Bernak-O-Matic!

 

[Cut to Customer: the Insurance CEO]. We sold a ton of insurance on worthless Subprime deals in order to inflate our collapsing earnings. Because of the Credit collapse of 2008 we were flat dead broke and owed half-a-trillion in insurance claims. But with the Bernak-O-matic we made a complete turn around. We done so well, we started  doing stock buy-backs again. Thanks Bernak-O-Matic!

 

 

Tue, 08/07/2012 - 16:59 | 2685787 jumbo maverick
jumbo maverick's picture

Monopoly has a game out where you don't even use cash anymore. Everything is done using a debit/credit card. The little 7 year old girl tells her dad how to put the card into the machine and just enter his PIN to buy. You can see the commercial on YouTube if you want although you can probably just stand inside any convience store to see this in real life.

Physical PMs ARE going to mean something within a few years. The younger generations are being led to believe that money is on a plastic card. They don't even know how to count change. They don't know what actual gold and silver coin are. Wait until the current system crashes. If you are holding physical you will be much better off than most everyone you know, at least financially. Most of the population has no idea what is happening and just wait...what a big surprise this is all going to be.

Tue, 08/07/2012 - 17:14 | 2685821 technicalanarchy
technicalanarchy's picture

Love it! I think that everyone should play with Monopoly money except the banker can use an excel spread sheet and create money with a key stroke. And when a player buys a property they must also pay taxes, permits and fees to the banker.

If a player builds a hotel, I think the player should randomly be fined for infractions. Also if a hotel isn't built soon enough the property can be confiscated for a higher and better use, by the banker.

I think it would also be nice if the cost of the properties were in payments instead of full ownership (the interest rate could be changed randomly or perhaps the other players could dedcide what they think their interest rate should be if they were borrowing money.) Instead of boardwalk costing $400 just add ,000 behind all the property prices, get a down payment or not and have the banker collect the interest. houses and hotels the same way.

Tue, 08/07/2012 - 14:55 | 2685444 TruthInSunshine
TruthInSunshine's picture

The Bernank says that "one of the most exciting times as an educator is when a student grasps the concept of the 'invisible hand' of the market dynamic..."

 

 

Too surreal for any response.

Tue, 08/07/2012 - 15:35 | 2685582 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

Jefferson was sharp.

"It should be remembered, as an axiom of eternal truth in politics, that whatever power in any government is independent, is absolute also; in theory only, at first, while the spirit of the people is up, but in practice, as fast as that relaxes. Independence can be trusted nowhere but with the people in mass." -Thomas Jefferson to Spencer Roanne

Full letter here;

http://press-pubs.uchicago.edu/founders/documents/a1_8_18s16.html

I would just like to know what 'transmogrified' means.

http://www.liveleak.com/ll_embed?f=e90_1212396161&start=184

 

Tue, 08/07/2012 - 14:56 | 2685449 LawsofPhysics
LawsofPhysics's picture

One among many good questions, mine would be more focused on "transparency".  HH, the answer to most of our questions no doubt would be, "because the U.S. military says so".

Tue, 08/07/2012 - 15:11 | 2685509 engineertheeconomy
engineertheeconomy's picture

Agreed.

But, like Henry Ford said, if every child knew what Ben was really up to, they would grab their parents guns and shut the government down today.

It will be interesting to see what the Military  does some day when  they lose their ability to brainwash our children and do not have any soldiers to do their dirty work...

Tue, 08/07/2012 - 15:01 | 2685476 SeverinSlade
SeverinSlade's picture

Another good question would be, "Isn't the Federal Reserve guilty of counterfeiting according to the US Constitution?  The Constitution says that only gold and silver are legal forms of tender...So since Nixon removed the gold peg from the USD in the 60s, hasn't the Fed become the world's/history's biggest counterfeiting operation?"

Tue, 08/07/2012 - 15:15 | 2685520 engineertheeconomy
engineertheeconomy's picture

Correct. Ben is Global Counterfeiter numero uno

Tue, 08/07/2012 - 15:30 | 2685571 pods
pods's picture

Well that is when it gets iffy.

See, the constitution specifies that the states are prohibited from making anything but gold or silver legal tender in payment of debts (Article I, section 10).

This was specifically written for the states, not the federal government.  So technically, the federal government could coin money and make them legal tender.

This is why they had to pass the coinage act of 1792, as congress was given the responsibility of coining money, regulating the value, etc.  Of course, "regulating the value" has been bastardized to where we are today, instead of specifying content and purity.  Now sadly we only have debt money.

IIRC, we do not even PAY debts anymore, we merely discharge them under the UCC.

pods

Tue, 08/07/2012 - 14:52 | 2685432 engineertheeconomy
engineertheeconomy's picture

Cocksucker Bernanke...

Surprised he's not giving the speech (lies) to a kindergarten class

Tue, 08/07/2012 - 15:09 | 2685501 AL_SWEARENGEN
AL_SWEARENGEN's picture

COCKSUCKER!!

Tue, 08/07/2012 - 21:46 | 2686463 Zionist Jew
Zionist Jew's picture

Sorry to hear about your daughter Al.  I hope they catch the COCKSUCKER!

 

http://www.azcentral.com/news/articles/2012/07/23/20120723missing-womans...

Tue, 08/07/2012 - 14:57 | 2685458 SeverinSlade
SeverinSlade's picture

Can someone throw a goddamn shoe already?

Tue, 08/07/2012 - 15:20 | 2685533 vast-dom
vast-dom's picture

"how the stock market works to make you better understand how to invest" "basic understanding of modern gov" etc 

 

FUCKING LYING POS! YOU FUCKED ALL MARKET POSITIONS THAT USED P/E FUNDAMENTALS RESEARCH AND RATIONAL INVESTING. FUCK YOU BERNANKZI YOU FUCKING PONZI CREATOR AND ENABLER!

 

LET ME ASK A FUCKING QUESTION!

Tue, 08/07/2012 - 16:03 | 2685655 Freewheelin Franklin
Freewheelin Franklin's picture

TSYs are safe because they are backed by the full faith and credit of the US government

 

You mean, the ability of the government to tax its citizenry, and place them in FEMA work camps if they refuse, right?   

 

[ 1/2 sarc]

Tue, 08/07/2012 - 18:42 | 2686024 Jay Gould Esq.
Jay Gould Esq.'s picture

"K-12...educators"

We need read no more; this is but a pep rally for the Administration's voting and contributing Faithful: membership of the AFT and the NEA.

Tue, 08/07/2012 - 14:34 | 2685355 azzhatter
azzhatter's picture

Fuck You Ben Bernanke- Fuck You very much

Tue, 08/07/2012 - 14:41 | 2685393 WALLST8MY8BALL
WALLST8MY8BALL's picture

MANBERNKRUG!

Tue, 08/07/2012 - 14:43 | 2685399 Zionist Jew
Zionist Jew's picture

That's no way to talk to your superior.

Mr Bernanke knows more about finance than all you antisemitic goyim ever will.  Setting up a counterfeiting operation and collecting income tax to service the debt created in the process is brilliant.  We've been gettting away with it for nearly a hundred years, and will continue to get away with it while you knuckle dragging mouth breathers binge drink budweiser and bark at your television.

Tue, 08/07/2012 - 15:02 | 2685478 magpie
magpie's picture

Careful there, there are also plenty of capable Aryan and Asian banksters around.

Tue, 08/07/2012 - 14:34 | 2685356 realtick
realtick's picture

C-A-N-S-L-U-M

Tue, 08/07/2012 - 14:34 | 2685358 SeverinSlade
SeverinSlade's picture

Hahahaha.  You are INVESTING in your own human capital by buying into the student debt bubble.  Amazing.

Tue, 08/07/2012 - 14:40 | 2685369 SeverinSlade
SeverinSlade's picture

Ben, why not let students practice being Fed Chairman?  It's a very low cost education course.  You don't even need a computer.  Just provide students with a keyboard and teach them how to hit CTRL-P.  There, you just solved the future's debt problem.

Sooner or later though, when the system crashes, students will need to be trained how to hit CTRL-ALT-DELETE.

Tue, 08/07/2012 - 14:40 | 2685389 Dr. Richard Head
Dr. Richard Head's picture

It's so easy, even a beardman can do it.

"Uggg Bernanke print money ugggg!!!"

Tue, 08/07/2012 - 14:59 | 2685466 NotApplicable
NotApplicable's picture

He should call it "Conjuring Capital."

Tue, 08/07/2012 - 15:44 | 2685597 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

I posted this below but thie proper term is 'Transmogrfied' - Per Jerry Nelson.  See this clip.

http://www.liveleak.com/ll_embed?f=e90_1212396161&start=184

 

Tue, 08/07/2012 - 15:00 | 2685467 CrockettAlmanac.com
CrockettAlmanac.com's picture

Hey, I've got a beard. It's backed by the full faith and credit of my follicles. Hope they don't take a haircut.

Tue, 08/07/2012 - 14:36 | 2685371 lizzy36
lizzy36's picture

Maxine Waters should be auditing this session. Prepare her for heading the House Financial Services Committe, next year.

Tue, 08/07/2012 - 14:46 | 2685407 ONO47
ONO47's picture

Oh that's great, Maxine at the helm. At least we will have a little comedy while Rome is burning.

Tue, 08/07/2012 - 15:02 | 2685480 CrockettAlmanac.com
CrockettAlmanac.com's picture

That woman gives self righteous stupidity a bad name. Or at least a worse name.

Tue, 08/07/2012 - 15:12 | 2685514 Overfed
Overfed's picture

Maxine Waters makes people with Down's Syndrome sound like friggin' geniuses.

Tue, 08/07/2012 - 14:36 | 2685372 daxtonbrown
daxtonbrown's picture

I wish my education had included courses on how to print money out of thin air and how to lie out my butt to gullible peons like cheesedick Bernanke. I could have been a contender.

Tue, 08/07/2012 - 16:17 | 2685686 machineh
machineh's picture

Sociopathy: you too can shed your useless conscience and make money the bankster way: cheat, steal, forge and lie.

Tue, 08/07/2012 - 14:36 | 2685374 reader2010
reader2010's picture

It's called Unlearn & Relearn by the Ministry of Truth.

Tue, 08/07/2012 - 16:51 | 2685774 pods
pods's picture

How many fingers Winston!

Tue, 08/07/2012 - 14:37 | 2685376 buzzsaw99
buzzsaw99's picture

the usa bankers should be sent to chinese re-education camp with beatings five times daily.

Tue, 08/07/2012 - 14:39 | 2685377 Cognitive Dissonance
Cognitive Dissonance's picture

".......the C-R-A-P Plan just did not seem appropriate. Perhaps his proposal is the BTFD Plan?"

Tyler,

How about BTFC(RAP)?

It covers ever Ponzi tool out there. Just Buy The F**king CRAP.

Tue, 08/07/2012 - 14:41 | 2685392 LawsofPhysics
LawsofPhysics's picture

Simple put, Ben is saying, "We need more players in this ponzi".  Hey Ben, the only way to win at a corrupt game is not to play.  Rule of fucking law, more importantly real consequences for bad fucking behavior.  So long as the moral hazard remains, the paper-pushers can go fuck themselves.

Tue, 08/07/2012 - 14:41 | 2685394 rsnoble
rsnoble's picture

Basically this means teach people how to take care of themselves because the gov't can no longer do it.

There is absolutely nothing wrong with that and it's the correct approach.

"However" preaching the exact opposite forever and then just dumping it on everyone in the collapse that they claim was never going to happen(and still don't) is pretty fucking shitty.

Gazillions in debt...........oh let's be frugal. LMAO. It's over.

Tue, 08/07/2012 - 14:57 | 2685454 chet
chet's picture

Yes, now that the younger generations are screwed they'll hear a lot about the virtues of living sustainably, making sacrifices, living with less, "the new normal".  And rich older people like Bernanke suddenly talking about the importance of measuring "happiness" as opposed to GDP.  Orwell couldn't have written this shit any better.

Tue, 08/07/2012 - 15:05 | 2685486 CrockettAlmanac.com
CrockettAlmanac.com's picture

All generations are now screwed.

 

New retirees receiving less in Social Security than they paid in, marking historic shift Read more: http://www.foxnews.com/politics/2012/08/07/new-retirees-receiving-less-in-social-security-than-paid-in-marking-historic/#ixzz22tPOb4o7
Tue, 08/07/2012 - 16:00 | 2685653 Getting Old Sucks
Getting Old Sucks's picture

I don't know about that.  I don't think that I will collect all of it but my wife might make up for it.  Ever notice who's in all the nursing homes?  Senior citizen centers?  Women, for the most part.  LOL, they called this the widows and orphan fund years ago and they weren't kidding.  Just ask my 99 y/o MIL.  My FIL has been dead for 30 years now and she's been collecting his SS ever since. 

My wife is collecting on her account right now and will get a raise when I start.  I decided to start later this year.  When I die, she collects 100% of mine instead of the 50% of mine coming shortly.  I'm hoping for another ten years with my health.  If she lives as old as her mother, that'll be probably close to 25 years after I'm gone.  So, while individually, we might not collect all we put in, our widows will make up for it.

What really pisses me off is that I know plenty of people on SSDI.  I'm more disabled than they are, albeit I don't consider myself disabled.  The one change I'd like to at least see happen is that anyone on SSDI reaching 62, reverts to there early retirement amount, rather than collecting SSDI till they reach their full retirement age.  Another thing is that they're suppose to be re-evaluated to verify they are still disabled.  NOT!  What a lame system we have.  

Tue, 08/07/2012 - 16:10 | 2685674 CrockettAlmanac.com
CrockettAlmanac.com's picture

The majority of older women I know have been employed and so they have paid into the system themselves in addition to any payments made by their husbands. From the article:

 

A married couple retiring last year, after both spouses earned average lifetime wages, paid about $598,000 in Social Security taxes during their careers. They can expect to collect about $556,000 in benefits if the man lives to 82 and the woman lives to 85, according to a 2011 study by the Urban Institute, a Washington think tank. 

Read more: http://www.foxnews.com/politics/2012/08/07/new-retirees-receiving-less-in-social-security-than-paid-in-marking-historic/#ixzz22tfNr6nl
Assuming that those figures are not inflation adjusted the deal is even worse than it appears.
Tue, 08/07/2012 - 14:43 | 2685398 Slope of Hope
Slope of Hope's picture

I found learning how to make a bong in art class to be quite useful.

Tue, 08/07/2012 - 14:46 | 2685409 SeverinSlade
SeverinSlade's picture

Quite useful when hearing a Keynesian like Bernanke speak.  Doing a bowl is the only thing that'll prevent you from ripping your hair out and then looking like Bernanke's twin.

Tue, 08/07/2012 - 16:20 | 2685696 machineh
machineh's picture

If you're a bankster, you learn to beat on your bowl with a spoon while pointing at your mouth.

ME HUNGRY! FREE MONEY!

Tue, 08/07/2012 - 14:44 | 2685402 SeverinSlade
SeverinSlade's picture

Yep.  History CLEARLY shows that having a STRONG CENTRAL BANK is good for the economy...Yep.  Just look at every centrally planned economy in history.  Oh wait...They're all gone?  Oh, well surely the purchasing power of the dollar since 1913 has been stable.  Oh wait...like 98% of the value of it has been lost?

Well fuck.

Tue, 08/07/2012 - 15:36 | 2685585 engineertheeconomy
engineertheeconomy's picture

The way I calculate it, it's more like 99.98%

Tue, 08/07/2012 - 14:44 | 2685403 Pancho Villa
Pancho Villa's picture

So the government is now going to teach young people about the need to live within your means and not borrow lots of money that you cannot repay?

Somehow I doubt it. Ben must have some other form of 'education' in mind.

Tue, 08/07/2012 - 14:47 | 2685411 Slope of Hope
Slope of Hope's picture

Those who can't do, teach.

Tue, 08/07/2012 - 15:56 | 2685635 engineertheeconomy
engineertheeconomy's picture

He's telling them to live within their means AND borrow lots of money which they can never pay off due to the laws of physics (usury is unpayable)

fixed

Tue, 08/07/2012 - 14:45 | 2685404 Joebloinvestor
Joebloinvestor's picture

Why doesn't Spain just become a clearing house for Standard Charter?

 

Tue, 08/07/2012 - 14:45 | 2685405 firstdivision
firstdivision's picture

Quick question, what was Simon Potter's PhD Thesis topic? 

 

Found these though. 

“Economic Restructuring in New York State,” (with Simon Potter and Rebecca J. Sela), Current Issues in Economics and Finance (FRB-New York), vol. 10, no. 7, June 2004.
“Has Structural Change Contributed to a Jobless Recovery?” (with Simon Potter), Current Issues in Economics and Finance (FRB-New York), vol. 9, no. 8, August 2003.
“Was the 2001 Recession Different in the Labor Market?” (with Simon Potter, Aysgul Sahin and Rebecca Sela), unpublished paper, 2005.

Tue, 08/07/2012 - 14:48 | 2685412 Hype Alert
Hype Alert's picture

For years and years, the US "advised" other countries to NOT do what we are doing.  Yet here we are, buying our own debt pretending that works.

Tue, 08/07/2012 - 14:49 | 2685419 SeverinSlade
SeverinSlade's picture

WAIT WAIT WAIT WAIT Mr. Bernanke.  So the European banking union is faltering because of the massive amount of soveriegn debt on its books?

Please then, Mr. Chairman, explain to me how the Fed is any different with the massive amount of US treasuries on its balance sheet.

Does not compute.

Tue, 08/07/2012 - 15:23 | 2685543 madcows
madcows's picture

Well, severin, the usa is not tied financially to other governments, so we can just print all we want, without any backlash.  In fact, this ability to print at will (really, the Treasury just prints promises, and the FED just buys promises (and politicians), and then lends to other banks at 0%) makes us very favourable to outside investment.  Just look at all the outside investors scooping up our BennyBucks at negative yield.  We're the Fucking Financial Cats Ass.

It's not really about debt.  Debt is meaningless.  It's about your ability to print money.  And, we've got the biggest, Most BadAss printing presses in the world.  IBM's Deep Blue aint' got nothing on our WARP 9.0 Microprocessers.

Europe can't print.  so, they go belly up.  But, we can go $0 to a Quadrillion in a microsecond.

Tue, 08/07/2012 - 14:49 | 2685420 LoneStarHog
LoneStarHog's picture

Just call it K12 and he can explain that it is the MOUNTAIN TOP where he and the rest of the GLOBAL TERRORISTS reside in Pakistan.

Tue, 08/07/2012 - 14:49 | 2685422 FiatFapper
FiatFapper's picture

How heavily vetted the audience must be; only takes one to ask a testing question to expose the façade.

Prisoners of Society.

Tue, 08/07/2012 - 14:53 | 2685433 LawsofPhysics
LawsofPhysics's picture

Exactly what I was thinking, I watched for 30 seconds and he mentioned "transparency" twice.  The next question should have been "how much money have European banks recieved from the Fed since 2001 and precisely what banks were involved and how much did each of them recieve?"

Stupid sheep.

Tue, 08/07/2012 - 16:41 | 2685754 engineertheeconomy
engineertheeconomy's picture

If the Fed we're Transparent, there would be a Revolution YESTERDAY

Tue, 08/07/2012 - 14:49 | 2685423 Sancho Ponzi
Sancho Ponzi's picture

How about the 'I f@cked a whole generation, but now it doesn't matter, as I've had a 'Bhutan' moment and have come to the conclusion that money can't buy you happiness' plan?

Tue, 08/07/2012 - 14:51 | 2685428 Negro Primero
Negro Primero's picture

8. If your annual income rises by 5 percent while prices of the things you buy rise by 10 percent...

A. You are better off.

B. You are worse off.

C. You are unaffected.

D. You are fucked.

http://www.federalreserveeducation.org/resources/detail.cfm?r_id=023fb52...

 

Tue, 08/07/2012 - 15:02 | 2685479 bnbdnb
bnbdnb's picture

E. I have more "happy" me time.

Tue, 08/07/2012 - 16:12 | 2685677 Schmuck Raker
Schmuck Raker's picture

C. You are DISaffected. [fixed]

 

Tue, 08/07/2012 - 14:53 | 2685436 CunnyFunt
CunnyFunt's picture

It seems like all those teachers need to be "de-educated".

 

Tue, 08/07/2012 - 14:54 | 2685438 Flaming Ferrari
Flaming Ferrari's picture

"Consumers who make informed decisions about financial products and services not only serve their own best interests, but collectively, help promote broader economic activity," he said in prepared remarks to a town hall meeting at the Fed on financial education.

 

So Bernanke helps totally distort the free functioning of markets and then comes out with statements like that. Knowing when the next central bank ponzi pump is going to be announced is surely the only useful "informed decision"  left in town.

Tue, 08/07/2012 - 14:56 | 2685439 extendedorder
extendedorder's picture

Excellent opportunity for a new 'Dark Knight rising'.

Tue, 08/07/2012 - 14:54 | 2685440 SeverinSlade
SeverinSlade's picture

So Bernanke is claiming that the Fed understands ALL MARKET FORCES...Even though every prediction he's made has been WRONG.

Oh wait, wait, wait, I forgot Mr. Meyer and his models.  Nevermind, it all makes total sense now.

Tue, 08/07/2012 - 14:55 | 2685443 Rot-10
Rot-10's picture

Step 1: Print Money

Step 2: Use money to buy millions of Macbooks

Step 3: Give everybody a Macbook...with a hotlink to ZeroHedge.com

Problem solved

 

Tue, 08/07/2012 - 14:58 | 2685445 spanish inquisition
spanish inquisition's picture

We can fund the future by letting California lead, using capital appreciation bonds like Poway!

http://www.voiceofsandiego.org/education/article_c83343e8-ddd5-11e1-bfca-001a4bcf887a.html

Tue, 08/07/2012 - 14:58 | 2685451 TWSceptic
TWSceptic's picture

he said "there are some ways when the markets don't always work well"

 

Yes, like when the government and the fed interfere with it!

 

Then he goes on explaining that is the reason central planning is required. And everyone swallows it because they don't know any better.

Tue, 08/07/2012 - 17:00 | 2685789 engineertheeconomy
engineertheeconomy's picture

Fucking Cunt tells one of my children that Central Planning is required, I'll take her out back to my woodshed and learn her about what's required

Tue, 08/07/2012 - 14:58 | 2685459 FiatFapper
FiatFapper's picture

Bloody hell, they're all monotonic, manchurian candidates.

Tue, 08/07/2012 - 14:58 | 2685460 Dr. Engali
Dr. Engali's picture

What a stupid fucking question. The invisible hand of the market did not cause the failure. It was the moral hazard of propping up firms and not allowing them to fail over the years. Bankruptcy prevents to big for fail.

And don't talk to me about monopolies in an environment where the currency usage is mandated by the same people who would destroy it.

Tue, 08/07/2012 - 15:08 | 2685497 CunnyFunt
CunnyFunt's picture

The sad part is that she makes a living "teaching economics".

Tue, 08/07/2012 - 17:03 | 2685798 engineertheeconomy
engineertheeconomy's picture

I'm surprised they didn't have that cocksucker floating on a fucking cloud with a chorus of angels playing Harps behind him

Tue, 08/07/2012 - 15:07 | 2685493 Disenchanted
Disenchanted's picture

 

 

 

The audience for this seems to be made up completely of lickspittles and toadies. Anyone wanting to ask a serious question was probably not allowed to attend.

Tue, 08/07/2012 - 15:36 | 2685584 dwdollar
dwdollar's picture

Anyone wanting to ask a serious question probably hasn't been teaching in decades.

Tue, 08/07/2012 - 15:08 | 2685495 DavosSherman
DavosSherman's picture

Getting junior Bernanke to take out $400,000 in student loans is, without doubt, leadership by example.

What a fucking POS moron.

Tue, 08/07/2012 - 15:09 | 2685500 khakuda
khakuda's picture

Only a Central Planner would speak from on high at a desk with golden torches on each side.  So queer.

Tue, 08/07/2012 - 19:06 | 2686102 engineertheeconomy
engineertheeconomy's picture

Unfuckingfathomable. A thousand years from now students will watch that pathetic speech and say "see, they did evolve from Homoerectus"

Tue, 08/07/2012 - 15:10 | 2685502 Scalaris
Scalaris's picture

Benus

- The Roman God of Paper

Tue, 08/07/2012 - 15:10 | 2685505 Dr. Engali
Dr. Engali's picture

It's a shame that the people asking these ridculous questions are teaching "economics" is our school systems. Some really stupid questions are being asked.

Tue, 08/07/2012 - 19:10 | 2686110 engineertheeconomy
engineertheeconomy's picture

REMEMBER WHEN THOSE CHINESE CHILDREN BELITTLED TIMMY G?

I BET THEY'RE ROLLING ON THE FLOOR PISSING THEIR PANTS THEY'RE LAUGHING SO FUCKING HARD AT THIS COCKSUCKER

Tue, 08/07/2012 - 15:11 | 2685508 eclectic syncretist
eclectic syncretist's picture

The U.S. reports having a little over 8,000 tonnes of gold in reserves, which would be worth about $460 billion at $1600 per ounce.

http://en.wikipedia.org/wiki/Gold_reserve

Meanwhile, the U.S. also reports owing China and Japan each over $1,000 Billion, and foreign countries in total over 5,000 billion, or over 10 times the current value of it's gold reserves.

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/...

In other words if foreign countries decide that gold would be a satisfactory form of payment they could wipe out all of the U.S. gold reserves and still retain 90% of their other debt holdings. The U.S. could pay down less than 10% of it's international debt this way.

In fact, the U.S. owes China and Japan enough that they could purchase all the gold owned by all the central banks in the world, with about $0.5 trillion left over.

Why doesn't the U.S. sell it?  B. S. Bernanke has gone on record saying gold is not money (Ron Paul should have asked him if a Federal Reserve Note is money).

Tue, 08/07/2012 - 15:50 | 2685618 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

The USA can easily revalue that gold by using the Mint to strike a higher value gold coin.

It is within congress powers to do that "Coin Money, Regulate the Value Thereof" doh!

The only way this will work is to also open public mints and let the people turn in their gold for the higher value coins as well.

This is the only way they can really create any value.  Anything else is just printing against existing values.

The coins would be spent into the economy, pay off debt, pass from hand to hand and pay off other debts.

It is so simple.

Read Coin's Financial School on archive.org

 

Tue, 08/07/2012 - 17:27 | 2685850 FRBNYrCROOKS
FRBNYrCROOKS's picture

here is the official bullion link from the Treasury:

http://www.fms.treas.gov/gold/current.html

While you are correct in your assertion we don't have enough physical gold to pay all the bond holders in bullion you must remember that 5 trillion in debt does not become due all on the same date. 

Even with a gold based system the Treasury would still pratice a fractional reserve system and it appears, by your calculation, we would be leveraged at  460: 5000 which is, a very exceptable, 11 to 1 ration. The premise being not all debt would become due all at one time and not all creditors would want to take deliver of bullion.

I believe we have more than enough gold in storage to back currency using a fractional reserve system.

If you included silver reserves the leverage would be less still.

I would advocate the treasury sell gold to buy silver and our currency be backed by silver. This might backfire, lowering the price of gold and increasing leverage in the system. I would like to see a minting of a Silver $20 piece. That would be almost an ounce of silver.

What do you think about that?

Tue, 08/07/2012 - 18:47 | 2686046 One eyed man
One eyed man's picture

Why would the US ever repay them in gold when it can repay them in paper?

Tue, 08/07/2012 - 15:14 | 2685517 Piranhanoia
Piranhanoia's picture

Mechanical Economic Hopium

Tue, 08/07/2012 - 15:16 | 2685521 SeverinSlade
SeverinSlade's picture

Here goes Bernanke again.  "The student debt ISN'T A PROBLEM."

Yet another bold predicting that'll be proven to be so terribly WRONG.

Tue, 08/07/2012 - 15:49 | 2685579 Dr. Richard Head
Dr. Richard Head's picture

Bernanke's proclimations of any particular area being "safe" ior not having any problems is usually a harbinger of the area that will intentionally be imploded by Bernanke and his Beard of Thieves.

Tue, 08/07/2012 - 15:17 | 2685524 Totentänzerlied
Totentänzerlied's picture

What do you call an "educator" (certainly not a pedagog!) who is clueless about the subject they teach? Cause that's all I see here. Just like the poor kids these dupes will dutifully brainwash with this Keynesian crap, they themselves are dupes of Ben Bernanke and his Banker Buddies.

Brainwashing.

Tue, 08/07/2012 - 15:17 | 2685525 mr_bad
mr_bad's picture

I betcha they won't show the graph that shows how the U.S. Dollar has devalued down to where it's now only worth about ¢.04 compared to when the Fed tookover in 1913.

Tue, 08/07/2012 - 15:28 | 2685563 Haager
Haager's picture

I bet that lots of 'em won't understand the graph without further explanation.

Tue, 08/07/2012 - 16:33 | 2685730 Money 4 Nothing
Money 4 Nothing's picture

It will really fuck up their new mathmatic skills what the Bernanke tries to explain how 2+2=34% leverage now. 

Tue, 08/07/2012 - 15:18 | 2685527 JohnKozac
JohnKozac's picture

What happened to Ben? He was such a nice little boy.....

Tue, 08/07/2012 - 15:21 | 2685539 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

 

 

B E N

U

L

L

S

H

I

T

Tue, 08/07/2012 - 15:21 | 2685544 q99x2
q99x2's picture

Now I'm scared.

Tue, 08/07/2012 - 15:27 | 2685556 CunnyFunt
CunnyFunt's picture

"Our kids will be better off than we are."

Ben Shalom Bernanke, August 7, 2012

Tue, 08/07/2012 - 15:54 | 2685626 mendolover
mendolover's picture

There is no fucking way in hell that this puppet could possibly believe that.  If by some remote possiblity that is an honest statement, then every credential in his name was stolen or cheated into. How do these bastards sleep at night?  No soul, that's how.

Tue, 08/07/2012 - 18:02 | 2685940 HardAssets
HardAssets's picture

By 'our kids' he means the children of the bankster criminal elites - - - they will inherit the positions of 'nobility'  in the coming system of debt serfdom for the masses.

http://www.britannica.com/EBchecked/topic/535485/serfdom

And some of you thought The Hunger Games was just an action movie.

Tue, 08/07/2012 - 15:30 | 2685566 dwdollar
dwdollar's picture

Vomit...

Propaganda at its finest.

Tue, 08/07/2012 - 15:33 | 2685577 q99x2
q99x2's picture

Kids will learn soon enough that Jack and Jill went up the hill to hang Bernanke.

Tue, 08/07/2012 - 15:49 | 2685578 HardAssets
HardAssets's picture

Its hard for me to listen to the Bernank for more than about 5 minutes. - - In this case I could only tolerate 3 minutes. - - - To see/hear him b.s. the very people he's screwing over - - in order to protect the banksters - - is unbearable. (Like a wolf calmly reassuring a group of lambs.)   Unfortunately public school teachers (though often either well meaning or just trying to collect a 'secure' paycheck) do nothing but pass on the propaganda and conditioning that keeps their students stupid. The the 'ed dept' students were the dumbest students at my university. A buddy of mine in college who wanted to become a teacher, would always joke about the low level of intelligence found among his classmates.  - -

Tue, 08/07/2012 - 17:08 | 2685812 engineertheeconomy
engineertheeconomy's picture

Rodent Eyes was looking everyplace but in the camera, guilty bastard

Tue, 08/07/2012 - 17:17 | 2685831 Winston Churchill
Winston Churchill's picture

Many concentration camp guards were teachers.

No figures for economists and bankers available.

Tue, 08/07/2012 - 15:41 | 2685596 JR
JR's picture

“There's an alarming trend in America's public schools, and it involves indoctrinating our children, rather than educating them -- one force-fed, left-wing ideological lesson plan at a time…

“In his famous novel, Fahrenheit 451, Ray Bradbury wrote of a society where all books, all alternative opinions, are burned in what many critics have interpreted as an extreme attempt to suppress dissenting thought.  Unhappiness, dissatisfaction and destruction ensue.

“One of the novel's antagonists, Captain Beatty, who's the head of the book-burning firemen, says this: ‘If you don't want a man unhappy politically, don't give him two sides to a question to worry him; give him one. Better yet, give him none. Let him forget there is such a thing as war.’

“Is this where we're heading?” – Kayleigh McEnany writes every Tuesday for the International Business Times.

Why not present the educators with opposing viewpoints; why not have Ben debate Ron Paul in the educators' town hall?

Tue, 08/07/2012 - 15:56 | 2685611 HardAssets
HardAssets's picture

Read John Taylor Gatto and Charlotte Iserbyt and you'll understand why there aren't many real educators in the public schools. - -They are mainly propagandists & behavorial conditioners. (Rat training at the sound of the school bell.)  They 'teach' students to follow the rules, to not be curious about anything beyond 'the right answer', and to forget creativity. Most public school teachers aren't aware of this, however. Few of them will look into the origins of the educational methods used today. Those who try to buck the system are a rarity - - and have to battle a great deal of opposition.

Tue, 08/07/2012 - 15:49 | 2685615 ParkAveFlasher
ParkAveFlasher's picture

Reminds me of THX 1138:

SEN 5241: You know, when I was at school, it was all very different. We used to stay in bed all the time. Combined primary economics... Combined primary economics was a bottle about this big.
[holds hands two feet apart]
SEN 5241: Took a week.
Child: Wow!

Tue, 08/07/2012 - 15:58 | 2685641 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

"Accentuate the Positve - Eliminate the Negative"

http://www.youtube.com/watch?v=f3jdbFOidds

 

Tue, 08/07/2012 - 16:43 | 2685723 Money 4 Nothing
Money 4 Nothing's picture

Why are all the guy's from Hewlett-Packard printer services all attending also?

 

Okay class, this is where you place the paper in the bale, here is where our proprietary funny munni cartridges go. Open Microsoft Wurd em up, click on the clowns face and hit "ctrl print".

Tue, 08/07/2012 - 16:41 | 2685751 Getting Old Sucks
Getting Old Sucks's picture

Having a whole bunch of grandchildren, my wife and I babysit them all for the first couple of years to avoid the day care environment.  One thing I notice is they all love Thomas the Train shown on PBS.  After seeing so many of these shows, I came to the conclusion that this is by no accident produced to indoctrinate, at a very young age, for our children to be good serfs.  Watch it and you'll see what I mean.  I stopped turning it on but until parents wake up, and realize how TPTB can in an innocent way affect the mindset of their children, they are just preparing the kids to be good serfs.  

Tue, 08/07/2012 - 18:19 | 2685973 HardAssets
HardAssets's picture

Yes, the conditioning methods are very sophisticated.

When directed at youngsters, its nothing less than child abuse.

There's absolutely nothing so low that the psychopaths won't use to their advantage. This is very difficult for most normal people (who just want to care for their families and live a good life) to fathom.

Tue, 08/07/2012 - 16:41 | 2685753 BalanceOrBust
BalanceOrBust's picture

Why is Ben Bernanke really getting school kids involved?

The last source of untapped Ponzi investors.

 

The ponzi scheme will end when school kids empty their piggy banks to buy TSYs instead of gummy candy.

 

I think even Hitler knew it was over when he had to rely on school boys to save his reich.  (Note:  I am not by any means comparing Ben Bernanke to Hitler.)

Tue, 08/07/2012 - 16:46 | 2685761 engineertheeconomy
engineertheeconomy's picture

That would be an insult to Hitler, and all of Germany

Tue, 08/07/2012 - 17:24 | 2685845 SaveTheGreenback
SaveTheGreenback's picture

Hey, kids.  Uncle Benny is the new "toothless" fairy.  If you put $5 under your pillow, the Bernank will turn that $5 into $100....

 

 

 

Tue, 08/07/2012 - 23:28 | 2686443 engineertheeconomy
engineertheeconomy's picture

http://www.youtube.com/watch?v=FdDvfCvxIw8 If anyone wants to watch Satan tell all the children in the world how to be good slaves and stop complaining

Tue, 08/07/2012 - 22:22 | 2686526 web bot
web bot's picture

I just finished listening to the Rosengren's interview on CNBC.

"... open ended QE". Pardon my language, but is he #uckin insane? At what point does the market say enough to the US Fed?

Absolute insanity...

Wed, 08/08/2012 - 16:05 | 2688790 monad
monad's picture

The new dark ages has commenced. Hang on to all your books and your slide rules.

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