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Guest Post: Bernanke Pledges To Screw Your Grandmother For At Least Two More Years

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Submitted by Jim Quinn of The Burning Platform

Bernanke Pledges To Screw Your Grandmother For At Least Two More Years

“A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” - Ron Paul

  

I wonder what goes through Ben Bernanke’s mind as he sits in his gold plated boardroom in the majestic Marriner Eccles building in Washington DC and decides to screw grandmothers in order to further enrich Wall Street bankers. He just pledged to keep interest rates at zero percent for two more years. Ben is a supposedly book smart man. Does he have no guilt or shame for what he has wrought? How does he sleep at night knowing he has created bloody revolutions around the globe due to his inflationary zero interest policy? People are dying because he has decided that an elite group of Wall Street bankers who recklessly brought down the worldwide financial system in 2008 deserve to be kept alive and enriched at the expense of the many.

He uses words like transitory to describe inflation. Even as the price of gold reveals his lies he continues to promote policies that will lead to the demise of the USD and our economic system. There is only one way to counter his lies – truth. With a corporate fascist government run by the few for the benefit of the few, telling the truth is treason as stated by Ron Paul:

“Truth is treason in the empire of lies.”

The storyline being sold to you by Bernanke, his Wall Street masters, and their captured puppets in Washington DC is that deflation is the great bogeyman they must slay. They make these statements from their ivory jewel encrusted towers as the real people in the real world deal with reality. The reality since Ben Bernanke announced his QE2 policy in August 2010 is:

  • Unleaded gas prices are up 45%.
  • Heating oil prices are up 46%.
  • Corn prices are up 71%.
  • Soybean prices are up 26%.
  • Rice prices are up 13%.
  • Pork prices are up 31%.
  • Beef prices are up 25%.
  • Coffee prices are up 38%.
  • Sugar prices are up 48%.
  • Cotton prices are up 13%.
  • Gold prices are up 42%.
  • Silver prices are up 115%.
  • Copper prices are up 23%.

These are the facts and they fly in the face of the lies being spouted by Bernanke and his Federal Reserve cronies. Words like transitory, quantitative easing, extended period, and liquidity are used by Professor Bernanke to obscure what he is doing to the average American. He lives in a world of theories and models, while the rest of us live in the real world, where theories kill and impoverish millions. There are 40 million Americans over the age of 65 today. You might even know a few of them. There will be 10,000 people per day joining their ranks for the next nineteen years as the Baby Boomers retire en masse. The vast majority of these senior citizens are risk averse. Some disturbing facts reveal the true picture for seniors today:

  • Most senior citizens do not have a traditional pension plan because they have been going out of style over the past 30 years.  In 1980, some 39% of private-sector workers had a pension that guaranteed a steady payout during retirement. Today that number stands closer to 15%, according to the Employee Benefit Research Institute in Washington, D.C. 
  • 35% of Americans already over the age of 65 rely almost entirely on Social Security payments alone. 
  • Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 62.  Most are doing this out of necessity. This probably has something to do with the fact that the median retirement savings of households over the age of 65 is less than $45,000.   
  • The median household net worth of all Americans fell from $97,000 in 2005 to $70,000 in 2009. The median household net worth of households over 65 years old fell from $200,000 in 2005 to approximately $150,000 in 2009. Two thirds of seniors’ net worth is the equity in their primary residence, meaning they have $50,000 or less of financial assets (cash, stocks, bonds). 
  • 20% of all the households in the United States have zero or negative net worth.  

 

This data sets the scene for the crime of the century committed by Ben Bernanke and his co-conspirators on the Federal Reserve Board. The easiest way to understand how Ben has screwed seniors and savers to pay off his Wall Street and K Street benefactors is to use a real life example.

A seventy five year old widow living in her paid off row home, bought in 1955, gets by on her annual social security income of $17,000 and the income generated from the $125,000 in retirement savings left from her husband’s forty years working as a truck driver. She is a child of the Depression, financially unsophisticated and risk averse. This describes most senior citizens. The widow and her late husband were only comfortable investing their money in CDs and money market funds. In 2007, before the Wall Street created financial collapse, savers and risk averse senior citizens could earn 5% in a money market fund, 5.5% in a 2 year CD and 6% in a 5 year CD. The widow could supplement her meager social security income with an additional $6,000 of interest income. This money was used to pay the ever increasing real estate taxes, medical insurance premiums, upkeep on the old house, and necessities like food, fuel, insurance and heating.

Fast forward four years to 2011. Savers and seniors are getting average interest rates on 6-month CDs this week of 0.58% nationwide, according to Bankrate.com. Rates on one-year CDs fell this week to 0.86%, while 5- year CDs fetched 2.04%. Money market funds are paying a pitiful 0.16% on average. The widow that was able to generate a risk free $6,000 only four years ago has only been able to generate less than $500 per year for the last three years. In addition, the government manipulated CPI, as calculated by the drones at the Bureau of Labor Statistics, was used to deny senior citizens an increase in their Social Security payments for the last two years. Meanwhile, the prices of food, fuel, clothing, insurance, medical care, and local taxes have been skyrocketing due to Federal Reserve created inflation. Do you think the number of Americans on food stamps surging from 26.3 million in 2007 to 45.8 million today has anything to do with Bernanke’s zero interest rate, inflationary policies?

 

This is not a theoretical hypothesis. Ben Bernanke has purposely sacrificed the savers and seniors in this country at the satanic altar of his Wall Street high priests of debt. According to the BEA data on personal income, in the 3rd quarter of 2008 savers and seniors were able to earn $1.42 trillion of interest income. By the 3rd quarter of 2010 these same people were only able to earn $984 billion of interest income due to Ben Bernanke’s zero interest rate policy. Make no mistake about it, the $436 billion difference was taken out of the pockets of senior citizens and Americans trying to save for their futures and deposited into the accounts of the mega-Wall Street banks that destroyed our financial system with their reckless greed induced debt toga party. The beneficiaries of zero interest rates, QE1, QE2, and all future QEs are Wall Street bankers and heavily indebted entities – namely our profligate Federal Government, who make drunken sailors, seem fiscally responsible. The victims of zero interest rates and quantitative easing are savers and risk averse senior citizens as their income has plummeted and inflation has ravaged their everyday existence. Meanwhile, the Wall Street fat cats have paid themselves over $70 billion in bonuses since 2008.

The fantasy world of moderate inflation is a myth created by the Federal Reserve in conjunction with the government bureaucrats in Washington DC. These people have tortured the CPI calculation worse than a Muslim being water boarded at Guantanamo Bay. Alan Greenspan, bubble blower extraordinaire, began the process of systematically screwing grandmothers in the 1980s. As a way to hide and obscure the true level of inflation caused by running endless deficits supporting a welfare/warfare empire, Greenspan and Clinton implemented devious adjustments to the CPI in order to screw senior citizens and allow Big Government to get bigger while stealthily impoverishing the middle class. One man has pulled back the curtain on the Wizards of Inflation to reveal the truth. John Williams at www.shadowstats.com publishes the true rate of inflation as measured in 1980, prior to the fraudulent manipulation of the CPI. The reality is that inflation has not dropped below 5% since 1987 and currently exceeds 10%. 

      

  

John Williams described the Greenspan/Clinton conspiracy to defraud Americans:

“The Greenspan argument was that when steak got too expensive, the consumer would substitute hamburger for the steak, and that the inflation measure should reflect the costs tied to buying hamburger versus steak, instead of steak versus steak. Of course, replacing hamburger for steak in the calculations would reduce the inflation rate, but it represented the rate of inflation in terms of maintaining a declining standard of living. Cost of living was being replaced by the cost of survival. The old system told you how much you had to increase your income in order to keep buying steak. The new system promised you hamburger, and then dog food, perhaps, after that. Over a period of several years, straight arithmetic weighting of the CPI components was shifted to a geometric weighting. The Greenspan benefit of a geometric weighting was that it automatically gave a lower weighting to CPI components that were rising in price, and a higher weighting to those items dropping in price.” 

Now we hear the latest bipartisan plan to “save” Social Security is to alter the CPI again and further defraud Americans by pretending inflation does not exist. Why address a problem when you can obfuscate, misinform and lie? Anyone with critical thinking skills can clearly see that since 2007 real inflation for our widow has ranged between 5% and 10%, while her subsistence level income has been slashed by 26% due to Ben Bernanke’s zero interest rate policy. The good news is our widow will have the peace of mind knowing the price of steak and hamburger hasn’t really risen as she decides on whether to dine on dog food or cat food tonight.   

 

“Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.” – Ron Paul

 

The Road to Impoverishment & Authoritarianism

There is a direct connection between Federal Reserve policies and the impoverishment of the middle class and seniors. The average American does not appreciate the disastrous consequences of deficit spending and currency devaluation by the Federal Reserve. Ron Paul has been sounding the warning for over a decade, but no one has been listening:

“The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch– Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference– that threatens to impoverish us by further destroying the value of our dollars.”

It is no longer a threat. It is reality. The chart below tells the story.  

 

The Federal Funds rate was 6.5% when George W. Bush assumed the presidency in 2000. The economy was booming, unemployment was 4.2%, the country was running fiscal surpluses, and the National Debt stood at $5.7 trillion. Alan Greenspan was the Federal Reserve Chairman and had been in that position since 1987. The Federal Funds Rate averaged 5.25% from 1990 through 2000 as the country grew strongly and America came the closest to full employment in its history. In 2001 Greenspan set in motion the creation of a tsunami of debt that swept over the entire country in 2008. The short shallow 2001 recession convinced Greenspan to reduce rates to 1% and keep them below 3% until the middle of 2005. He did this with the full support of his right hand man at the Fed – Ben Bernanke.

“The failure of Chairman Greenspan and other FOMC members to address the fiscal and monetary problems of the United States during his almost two decades at the Fed has left the United States on a trajectory for economic stagnation, hyperinflation, and the attendant political and social costs of such policies.”Chris Whalen - Inflated – How Money & Debt Built the American Dream 

Greenspan kept interest rates excessively low three years into an economic recovery, creating the largest bubble in world history. He handed the inflation baton to Bernanke in February 2006 and Ben has been sprinting at top speed for the last five years printing money faster than a Japanese bullet train. With a true rate of inflation running between 5% and 10% during the 2000 through 2011 time frame, market driven interest rates should have been in that same range. But Alan and Ben have kept the Federal Funds rate at an average level of 2.25% over this period. The result has been a consumer debt bubble, housing bubble and now a government debt bubble. Instead of accepting the consequences of excessive liquidity, excessive debt and mal-investment by the Wall Street banks and liquidating the toxic poison from our economic system with the resulting economic depression and losses borne by the stockholders and bondholders of the criminal Wall Street enterprises, Ben Bernanke and Tim Geithner chose to sacrifice the American taxpayer, savers, and seniors to keep their Wall Street masters in their NYC penthouses and Hamptons estates.

 

The shrieking liberal left blames capitalism and demands more social welfare benefits for their entitled constituents. The fact is we have not had true capitalism in this country since 1913.

“Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” – Ron Paul

 

The Day the Dollar Died – August 15, 1971

“With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.” - F.A. von Hayak 

“The road paved with inflation and debt is also the road to authoritarianism.” – Chris Whalen - Inflated – How Money & Debt Built the American Dream 

 

On August 15, 1971, exactly forty years ago this week, Richard Nixon closed the gold window and removed the last vestiges of restraint on politicians and central bankers. Politicians were free to make promises that couldn’t be kept to buy votes and central bankers were free to print fiat dollars and create inflation to support an ever growing warfare/welfare state. On that date the non-manipulated CPI was 40.8. Today, forty years later, the highly manipulated CPI is 225.7, a 553% increase. In reality, true inflation has risen more than 700% since August 1971. Some other facts put this relentless inflation into perspective:

  • GDP has ascended from $1.1 trillion to $15.0 trillion today, a 1,364% increase in forty years.
  • The National Debt has risen from $400 billion to $14.5 billion, a 3,625% increase in forty years.
  • Total wage income has grown from $588 billion to $6.627 trillion today, a 1,127% increase in forty years.
  • Consumer credit outstanding has accumulated from $141 billion to $2.446 trillion today, a 1,735% increase in forty years.
  • War spending has increased from $95 billion to $966 billion today, a 1,017% increase in forty years. The U.S. was in the midst of the Vietnam War in 1971.
  • Social welfare transfers from the Federal government for Social Security, Medicare, Medicaid, Veterans, and Unemployment increased from $87 billion to $2.305 trillion today, a 2,649% increase in forty years.

These facts prove how twisted and warped our economic system and society have become. Real wages are lower than they were in 1971 as families were forced to put two parents into the workforce forcing children to be raised by strangers, with the resultant social consequences. The corporate media, financial industrial complex and housing industrial complex convinced Americans they had to keep up with the Joneses with new luxury automobiles, extravagant McMansions, and the expensive accoutrements that went along with these representations of fake wealth. The financial plundering of the country by the peddlers of debt on Wall Street could not have happened without the easy money, no regulation policies of the Federal Reserve for the last decade. The National Debt is increasing at a rate of 10% per year while GDP is increasing at a rate of less than 2% per year. Anyone with even the most basic math skills can see this train is going to go off the tracks. Our spending on social welfare benefits has grown at a rate twice as high as our GDP growth for the last forty years and the establishment in Washington has no resolve to address these un-payable promises. The liberals squealed like stuck pigs over the horrific non-cuts in the recent joke debt ceiling compromise. The neo-cons who control the Republican agenda think $1 trillion per year for their war machine is far too little and endangers our very existence. Consumers refuse to accept the reality of their precarious existence balanced on the edge of their 13 credit cards.

Americans of all parties, ages, races, persuasions, education and beliefs have shirked their civic and moral responsibility to future generations. The rampant greed on Wall Street, corruption in Washington DC, shallowness of the American people and cowardice of all in not accepting responsibility for their actions will lead to the end of this country as we know it. There is no courage among the political class in Washington DC to truly take the steps required to save this country from the most predictable cataclysm in history. The politicians and citizens they represent have decided to delegate their civic responsibility to Ben Bernanke. He has tripled the Federal Reserve’s balance sheet by acquiring the toxic mortgage “assets” of the Wall Street banks and buying $600 billion of U.S. Treasuries. The Federal Funds Rate is .07%. His announcement of zero interest rates for two more years proves he has run out of theories and ammo. Jim Rickards, in 2010, pointed out the danger in Bernanke’s reckless policies:

“Fed Chairman Bernanke wakes up every morning and tries to trash the dollar with quantitative easing, zero interest rates and swap lines with the central banks. But it has not been working. The Fed has never taken it to the next step and asked what happens when quantitative easing does not work.”

The utter failure of QE2, hollow Congressional spending “cuts” that will keep the National Debt on track towards $23 trillion by 2021, S&P downgrade and recent plunge in the stock market are the first cracks in the façade of the great American Empire. We have entered a period of institutional crisis and this fiscal spiral will lead us further into the clutches of a more centralized authoritarian form of government unless the people stand up to the junta of mercantilist oligarchs that control this country. Do we want to relinquish our remaining freedoms and liberties for the cloak of corporate fascist authoritarian central planning disguised as safety and security? The Romans chose security over freedom. The time has come to make a choice about what we will become. Ben Franklin stated the obvious two centuries ago:

 Those who would give up Essential Liberty
to purchase a little Temporary Safety,
deserve neither Liberty nor Safety.

- Ben Franklin

 

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Sun, 08/14/2011 - 22:08 | 1560312 NumNutt
NumNutt's picture

How sad the state of our country has become. At what point do we get pissed off enough to get out of our lazyboys? I think that everyone could do thier part to stop this madness. Default on your debt, and learn to no longer use credit. If the majority of people could do this that would put an end to the banksters evil grip on this country.

Sun, 08/14/2011 - 22:10 | 1560333 jomama
jomama's picture

QUIET, PRESEASON JUST STARTED!

Sun, 08/14/2011 - 22:15 | 1560343 NumNutt
NumNutt's picture

Oops, my bad sorry, we will pickup the revolution after the superbowl.....

Sun, 08/14/2011 - 23:21 | 1560510 TwelfthVulture
TwelfthVulture's picture

What about spring training?

Mon, 08/15/2011 - 04:15 | 1560813 Sudden Debt
Sudden Debt's picture

That's the smart part of Bernanke's plan!

Grandma's pitching arm isn't strong enough anymore to throw molotov coctails to the police!

and that kick from her old 2 barrel is becomming a bit to much for her.

 

Sun, 08/14/2011 - 22:31 | 1560388 pods
pods's picture

We are doing it, albeit slowly.  People are avoiding credit. I have done it, and I am very vocal about it too.  People look at me like I have 3 eyes, but I tell them why.

Debt is a chain we freely place around our necks.  

The Fed.gov has taken up the slack in debt issuance to keep the whole thing from imploding.  When austerity hits the gov, it is over.

pods

Sun, 08/14/2011 - 23:33 | 1560538 zorba THE GREEK
zorba THE GREEK's picture

No wonder the old gal was smiling.  " YAYA, stay away from him, he is Diavalo" 

Mon, 08/15/2011 - 00:01 | 1560562 A Lunatic
A Lunatic's picture

Bernanke is ONE man. Is ONE man really all it takes to bankrupt America? What the fuck are the other 311 MILLION people doing? This is one of many problems with the mentality in this country...........we all (not you, but people like you) sit on our hands bitching about the wicked Bernanke destroying our precious monetary system..........while we (see above) anxiously wait for a fucking super hero to come save the day. Those who do nothing to change the status quo DESERVE to be fucked, whether it's granny, our sons, daughters, mothers, neighbors, or even ourselves! (see above)

Mon, 08/15/2011 - 00:11 | 1560600 Don Keot
Don Keot's picture

I think you would be surprised how many people are doing something about it.  The food storage business is booming.  I buy from a Mormon food supply store and there are new people in there often, just getting started.  Check out some of the survival web sites.  If you can't change the system, don't participate.  It's just normal bias for the rest.  There's a thing called universal mentality (when everyone gets the same idea at the same time)  When the shit starts to happen, there will be a shortage of rope.  We have not even begun to see hard times yet.  Remember, most people won't change until they have to.  Extend and pretend.

Mon, 08/15/2011 - 10:17 | 1561380 fledermaus
fledermaus's picture

We were just out in Salt Lake City staying with Mormon friends. (we're not Mormon, not that there is anythign wrong with that). They have 1 year supply of food in their home, (4 kids too) I was impressed.  We're stocing up (at around 6 mo now...) but always like to get tips about where to buy.  Does the mormon place you buy have a website?  Care to post it?  

Anyone else feel free too- and good place to buy ammo too?  Costco seems to have a survival line...  (you know it's mainstream when the big box stores have survival gear)  Been looking at amazon too for the free shipping and no tax.   ammo I'm looking around for-  seen a few online  -not sure yet who to try...

Mon, 08/15/2011 - 16:06 | 1562795 Don Keot
Don Keot's picture

Just stop by your local LDS church and ask where their food store is.  I live in a fairly small community and there is a food store there.  They are very helpful, you can purchase and can your food and most have a shelf life of 30 years.  I not mormon either but they do like to see people prepare for themselves.

Mon, 08/15/2011 - 01:23 | 1560710 NumNutt
NumNutt's picture

In a way you are correct, but lets not forget that the federal Government were the ones that directed the banking community to grant home loans to anyone and everyone. Before someone starts to jump and down and point fingers at Dems and Reps, lets remember that this program was started under Bill clintons  adminstration, but all the republican admins that followed failed to correct it. They were all making money off it and they loved the program. So then the wheel falls off the bus around 2007 and it has been a slow ride down the hill, but now it is picking up speed. I think everyone needs to realize that it will soon get to a point that it will be every man for themselves. The people in charge are no longer going to make decisions based on the "good for the country", now it is going to be "will this save my own ass". They are no longer looking out for us and them, only them. Oh and to address your point regarding waiting for a super hero, to act alone in this day and age is suicide. We are waiting for the majority to get pissed off enough to come out into the streets and start making noise. A lone voice can be ignored, a thousand voices can be acted against locally, a million voices would demand to be heard.

Mon, 08/15/2011 - 03:12 | 1560775 dolly madison
dolly madison's picture

+1

Mon, 08/15/2011 - 00:02 | 1560588 trav7777
trav7777's picture

from that table on net worth broken down by ethnicity, I can only assume RAYCISS whitey is why asians had higher nets than white people.

Mon, 08/15/2011 - 12:41 | 1561872 TyCarrerra
TyCarrerra's picture

No. It's because we don't give a f*ck whether someone likes us or not. We just do what we need to get done instead of whining about it... It's alright, we'll catch up to you again. :)

Sun, 08/14/2011 - 22:04 | 1560314 ISEEIT
ISEEIT's picture

So. Like WHATEVER.

BRING IT,

Do YOur thing monster fuck.

BRING IT.

Sun, 08/14/2011 - 22:04 | 1560315 vegas
vegas's picture

Dear Jim. you are preaching to the choir. Most Amerikans are so stupid it defies description. Better to go John Galt than stay in a bankrupt, corrupt system that is going to steal your wealth and take your freedom away.

Sun, 08/14/2011 - 23:21 | 1560511 traderjoe
traderjoe's picture

The article comes close, IMHO, but misses the bigger picture and therefore ends up missing wide of the mark. 

The Federal Reserve was specifically created to skim the wealth of the American people. Sovereign countries do not need to borrow their 'own' money - the national interest is the grift and debt-slavery is the goal. Fractional reserve banking leaves the power of money creation with private corporations. Is there a better business to be in?

BB is simply doing the bidding of his masters. All of this was set up long, long ago. The plan is working brilliantly. And to discuss Ben's policies in any sort of 'rational' light is to miss that his purpose is to defraud and deceive the American people. So far, he's doing a brilliant job. 

Go to any coin shop right now - see the people selling their silver spoons to make this month's payments. They are selling their only thing of value to pay for that next bill. They will end with nothing, and be willing slaves to the current and next machine. The FEMA camps will have 3 squares and a cot. Where do you think their gold and silver goes to?

Do not judge Ben on his actions - to do so is to participate in their game. Ben is the criminal fool of the shadow masters. The whole lot of them must be cast aside in the Great Collapse. It is up to us to ensure their actions are judged for the truth of what they are.  

Mon, 08/15/2011 - 01:48 | 1560727 Mentalic
Mentalic's picture

Well said !!

Mon, 08/15/2011 - 02:28 | 1560760 newworldorder
newworldorder's picture

Excellent points Traderjoe,

Ben is but a shadow boxer. If not him there would be someone else sitting in his chair. His function as well as that of his minions is to create the financial conditions that strips two centuries of wealth from our great nation.

Most of us are like druggies waiting for our next fix. Our wealth is slowly stolen. We are close to that now. Our grandchildrens wealth is next. We have allowed then to invade our minds with propagana for several generations, to the point that we can't or won't save ourselves.

The important question is however - For what purpose is this being done? It can't be for money only. Have they not stolen enough in the last 100 years?

Sun, 08/14/2011 - 22:05 | 1560318 Caviar Emptor
Caviar Emptor's picture

It's capital versus incomes from now on. Battle lines are bring drawn all over the globe. Bailouts and QE were designed to support capital. ZIRP still supports it. But incomes are being reamed and blown out of the water: real incomes have declined for 30 years straight. Worse, the cost of living, working and doing business is sharply higher in the midst of demand destruction. The backlash is coming

Mon, 08/15/2011 - 07:15 | 1560909 Bob
Bob's picture

And the stupid fuckers can't see that inevitable end.  They're lost in their own media promoted fantasies. 

Mon, 08/15/2011 - 07:20 | 1560913 Pay Day Today
Pay Day Today's picture

I hear that telescopic batons and baseball bats were big sales items in the UK last week.

Sun, 08/14/2011 - 22:07 | 1560322 poydras
poydras's picture

Devaluation and financial repression was near certain in 2007.  Unfortunately, many if not most are unaware of the scheme.  A 1700+ gold price indicates growing awareness.

Sun, 08/14/2011 - 22:09 | 1560328 jomama
jomama's picture

and here i thought it was just institutions covering their short positions.

Sun, 08/14/2011 - 22:13 | 1560341 Caviar Emptor
Caviar Emptor's picture

Add in a cup of geopolitical instability, a cup of mega currency fluctuation and a gallon of debt saturation and you got yourself a perfect recipe for gold as the go-to safe haven 

Sun, 08/14/2011 - 22:08 | 1560324 jomama
jomama's picture

good for him. she could use a little action.

Sun, 08/14/2011 - 23:08 | 1560474 MsCreant
MsCreant's picture

But he is so promiscuous. He is screwing them all and spreading a dis-ease.

Mon, 08/15/2011 - 00:05 | 1560594 mkkby
mkkby's picture

My grandma has been dead a few years.  I wouldn't think he's that perverted, but with Bernanke you never know.

Mon, 08/15/2011 - 07:27 | 1560926 Bob
Bob's picture

It's the thought that counts--and you know he would if he could.

Sun, 08/14/2011 - 22:09 | 1560326 johnnynaps
johnnynaps's picture

Better grandma gets screwed than my daughter

Sun, 08/14/2011 - 22:16 | 1560345 mayhem_korner
mayhem_korner's picture

How much for both?

Sun, 08/14/2011 - 22:21 | 1560358 raki_d
raki_d's picture

Whole family for nothing

Mon, 08/15/2011 - 21:50 | 1563717 ironmace
ironmace's picture

Nice avatar. I was wiping and smacking at my screen thinking there was a bug in it.

Sun, 08/14/2011 - 23:10 | 1560482 MsCreant
MsCreant's picture

Don't fool yourself, he's screwing them both, and your partner, and hey, you know your butts been sore too, fess up!

Hey wait a minute, hey, eeek! Stop that Hanke Panke Bernanke!

Mon, 08/15/2011 - 05:13 | 1560837 falak pema
falak pema's picture

The question we all ask ourselves, whereas needless to say we give you the entire benefit of the doubt beforehand in our normally programmed and therefore gallant minds, is: is your butt worth the voyage into deep south USA...Please clarify this burning bush issue! Before Ben Bernanke gets to Hanke Panke you! 

Sun, 08/14/2011 - 23:27 | 1560526 toady
toady's picture

Grandma is already dead, so I guess its your daughter after all...

Sun, 08/14/2011 - 22:17 | 1560336 DavidPierre
DavidPierre's picture

'The Day the USSA Died – September 11, 2001'

You entered a period of institutional terrorism and self inflicted political crisis. This spiral will lead  further into the clutches of a more centralized authoritarian form of government unless people like you, SmokeyQuinn, stand up to the junta of mercantilist and terrorist oligarchs that control and terrorize the country.

Do you want to relinquish your few remaining freedoms and liberties for the cloak of corporate fascist authoritarian central planning disguised as safety and security?

When will YOU confront the facts behind 9/11?

Or... will you continue to be a 9/11MORON ?

Sun, 08/14/2011 - 22:20 | 1560353 Jim Quinn
Jim Quinn's picture

Go back to the barn you nutjob.

Bah!!!

Sun, 08/14/2011 - 22:31 | 1560389 DavidPierre
DavidPierre's picture

SmokeyQuinn:

Best consider how you respond! 

You will reveal much more than you may want to about yourself and how you conduct yourself on that filthy little blog ... www.TheBeastilityPlatform.com .

Cui Bono !!!

9/11: Who Really Benefited? Fact and Not Fiction...

"Forget so-called conspiracy theories. Instead look at reality. Dare ask yourself who actually seems to have benefited from the 9-11 calamity. In light of the debt ceiling debates and the continuous corrupt politics as usual of Washington D.C., it is time for the American people, and individual states of this federation, to look at a troubling set of facts. It seems there were “several” beneficiaries of 9-11 that don’t exactly fit the story line we were constantly fed by the propaganda machine and mainstream media as to how to connect the dots."

http://www.globalresearch.ca/index.php?context=va&aid=25762

Sun, 08/14/2011 - 22:41 | 1560414 Jim Quinn
Jim Quinn's picture

Please keep posting you nutjob so everyone can see you are crazier than a shithouse rat.

Sun, 08/14/2011 - 22:58 | 1560451 DavidPierre
DavidPierre's picture

SmokeyQuinn:

As the tenth year anniversary of open terrorist rule in the USSA approaches, I look forward to your special 9/11 article where you will show your true self as a celebrated 9/11Moron!

You, like a great, fat, bottom-feeding suckerfish, have swallowed the official government lies...

Hook...Line... and Sinker!

 

 

Mon, 08/15/2011 - 01:10 | 1560695 Blythes Master
Blythes Master's picture

Hey Douche Penis......

 

How come you only show up around here to harass Jim Quinn?

 

Obsess much?

Mon, 08/15/2011 - 01:31 | 1560715 DavidPierre
DavidPierre's picture

Hey!... Bowel Movement......

SmokeyQuinn has a long, well documented and sorid history of being a LIAR !

His moral distaste and contempt for the truth is well documented by his former webmaster on ZH, as well as on his blog.

You'll know the history of this man by just reading his obscene comments to any challenge of his moronic views.

It's Fight Club and SmokeyQuinn is my favorite punching bag.

Stupid much???

 

 

Mon, 08/15/2011 - 08:06 | 1561003 Jim Quinn
Jim Quinn's picture

It is better to let people think you are a dumbass than to open your mouth and remove all doubt.

Back to the barn you crazed lunatic. The sheep are getting lonely.

 

Sun, 08/14/2011 - 23:29 | 1560515 traderjoe
traderjoe's picture

Are you calling 9/11 Truthers nutjobs? Um, really? You think WTC7 came down from some minor fires?

Sun, 08/14/2011 - 23:31 | 1560534 toady
toady's picture

The terrorists won.

Bin Ladin was right.

Mon, 08/15/2011 - 00:04 | 1560593 trav7777
trav7777's picture

post hoc ergo prompter hoc...fallacy.  STFU

Mon, 08/15/2011 - 00:48 | 1560632 DavidPierre
DavidPierre's picture

trav666;

You, and all other 9/11MORONS, can go on over to and do a Bachmann on Quinn's, much discussed and often bragged about, 11 1/2 inch, Smokey

For along time he has lusted for your lively, liver lips, brilliant Latin witticisms and moronic 9/11 comments  ... his blog ... www.TheBeastilityPlatform.com .

Sun, 08/14/2011 - 22:12 | 1560337 Jasper M
Jasper M's picture

In fairness to the ChairCreature, he will not be able to keep those rates that low for that long, and probably knows better, himself. 

The Eurocalypse will keep our rates down, for awhile, whatever Bernanke does, as we are still by far the prettiest horse in the glue factory (well, aside from the Swiss, but that pony is too small to ride). 

Sun, 08/14/2011 - 23:37 | 1560550 toady
toady's picture

I thought that was a pretty ridiculous statement also.

These guys can't figure out whats going to work tomorrow, and he's going to promise something for two years?

Sun, 08/14/2011 - 22:13 | 1560342 lynnybee
lynnybee's picture

Here it is.   This is the article.    This is the topic where I will not shut up .   I am very upset with this criminal, this Ben Shalome Bernanke, this person who has so much money that he could have fed every hungry child or elderly person for the next ten years.   This Z.I.R.P. is a criminal act & should not be tolerated by the American Citizens.     The whole thing is an outrage.    The faceless elderly are our parents & our grandparents.    They are the people who went to work, paid into the system, raised children, paid off houses & believed in America, they are the salt-of-the-earth people.     Fuck that asshole Ben Shalome Bernanke, piece of worthless shit.     I know what's coming.    People, we must share & go back to a time when the community cared for their elderly.    Z.I.R.P. is a slap in the face to this country's elderly.      Share food with others.     

Sun, 08/14/2011 - 22:29 | 1560381 Cursive
Cursive's picture

No Country For Old Ladies

Sun, 08/14/2011 - 22:36 | 1560403 pods
pods's picture

Bless you lynny.  With this pending collapse, we have a chance to rebuild anew.  It is an oppotunity of a lifetime.

As for sharing, I am finishing up pressure canning 28 quarts of sauce, and I'm only about half done.  Many will benefit.

pods

Sun, 08/14/2011 - 22:58 | 1560450 tip e. canoe
tip e. canoe's picture

hey pods, got any tips for canning?   i need to make some jam for the 1st time and looking for simple steps i can get my lazy noodle around.

congrats on your tomato bounty.   add any herbs to the sauce?

Sun, 08/14/2011 - 23:36 | 1560549 pods
pods's picture

Thanks tip e!  Had a pretty good year for a lazy garden.

As for tips, get a pressure canner.  Boiling water canners for sauce will ruin it if you like a light, fresh sauce. I like a fresh sauce, and you have to add citric acid to acidify it in a boiling water canner, as most modern tomatoes are low acidity.  Pressure canner will give you more flexibility as you do not need to acidify the sauce.  My sauce is pretty simple.  Romas, vidalia onions, paste, couple carrots minced, gaaalic, S&P, then basil and oregano from Penzeys (best spices I know of hands down).

Have not done jams.  Was going to do strawberry once, but all recipes load them with sugar, so I backed away.  Lots of info out there on canning though. Kids like it too.  Will probably try some blueberry preserves next year if the crop is bountiful.

It is time consuming.  Took almost all day for me (starting at noon) to do 26 quarts.  Bout halfway through now.  

My biggest time saver was buying a Vitamix, which lets me avoid skinning the tomatoes.  That saves hours.  I really would not even try this big of a batch if I had to skin them.  

Small garden can really provide alot. I had a 12x24 and probably had about 75 lbs of Roma tomatoes, using 3/4ths space for tomatoes.

Canning is a real good way to learn self preservation, as just about anything can be pressure canned.  

Best of luck!

pods

Mon, 08/15/2011 - 08:08 | 1561012 tip e. canoe
tip e. canoe's picture

pods & sparkles, many thanks for the ideas.   going to scout out a used Vitamix and pressure canner.   and yes, homemade soups are the bomb, gotta love the slow cooker.

you got 75 lbs of tomatoes in a 12x24???   that's awesome.    if your peeps like sweet but you're trying to stay away from the sugar, try growing some stevia.  10x sweeter than sugar with no calories and no chance of tooth decay.   you could probably get a crop this year even cuz it's a cool weather herb.    plus, it will reseed like crazy.

you could try buying the packets at the store, but be advised that they're super expensive and the taste is not even close as tasty as picking the fresh leaves and letting them dry yourself.   a little goes a looooonnnggg way.

feel blessed to be sharing this knowledge with each other.    to me, this is the definition of true wealth.    plus, you don't lose anything when you give it to someone else.

Mon, 08/15/2011 - 07:49 | 1560958 Waterfallsparkles
Waterfallsparkles's picture

Tip e,

Go to Youtube.  Type in canning jam or jelly.  Tons of videos showing step by step canning.  I have been watching them.  Looking to can the soup I make.  There is usually way to much to eat before it goes bad.  Although, I do give some to the children.

I am big on home made soup.  So, inexpensive to make.  Love, Bean soup with a ham bone, Turkey Dumplin soup, and Beef barley.

Sun, 08/14/2011 - 22:17 | 1560346 gall batter
gall batter's picture

maybe grandmas should just bow on out and grandpas too if still around.  do something about overpopulation. altruism at, say, 60.  

oh, and bernanke has no problems sleeping.  neither did bush, remember.  psychopaths don't have a conscience so this is a stupid question.   

Sun, 08/14/2011 - 23:42 | 1560555 toady
toady's picture

Death panels for all!

Logans Run?

Mon, 08/15/2011 - 01:14 | 1560706 Don Keot
Don Keot's picture

If you are very lucky you may live to be a grandparent.  I owe no one, have gold, guns, food, water, land, a house and three cabins. Be very careful about who  should bow out, you little piece of shit.  If it weren't for me, I know ten people that would be up shit creek in the near future.  You little fuckers are beginnig to piss me off.  You don't have a fucking clue what hard times are, except what you have seen of TV.

Mon, 08/15/2011 - 02:21 | 1560755 jkings1
jkings1's picture

right. hard times today: having to go to Dunkin instead of Starbucks. Yester year: Making a single potatof a meal for 6.

Mon, 08/15/2011 - 03:34 | 1560787 OldPhart
OldPhart's picture

Or using a manual meat grinder to turn discounted, and highly suspect, fat into hamburger

Mon, 08/15/2011 - 10:11 | 1561321 toady
toady's picture

'little' fucker? 'little' piece of shit? Do you have a size problem?

I'm 6'6", 230, 8", and I'm happy about it. I also have guns, land, pm's, etc... I do still owe 15k on a piece of land, but hopefully I'll get that done soon.

As far as people 'bowing out', nobody, except the very weak-willed, will be doing that, especially to help the general population. Maybe to help immediate family...

Any attempt to come out and say 'bow out' will be met with 'death panel' claims from the political class, and/or Logans Run style escape attempts. Please try to think before responding with name calling.

Mon, 08/15/2011 - 16:14 | 1562835 Don Keot
Don Keot's picture

Sorry, wasn't talking to you Toady, meant for gall batter.  No size problem, little was referring to mental attitude.  No problem with your post.

Sun, 08/14/2011 - 22:17 | 1560348 Long-John-Silver
Long-John-Silver's picture

Dog food will be repackaged as AARP gourmet morsels. Just add water and heat, suturing until consistency is that of oatmeal.  

Sun, 08/14/2011 - 23:11 | 1560486 Manthong
Manthong's picture

Grandma and Grandpa just might not take things lying down.

"seniors realize that the recession isn't going to be over soon and that a tougher time is coming"

http://www.dailycommercial.com/60311gramps

Mon, 08/15/2011 - 00:14 | 1560608 GoatETF
GoatETF's picture

Correct, more likely they'll take it in their lazyboy. All that needs to happen is provide a small room, free cable (maybe internet), low cost doctors and medications and some small meals and most shut the hell up. 

Unfortunately many have not valued their body and mind. Couple this with their selling out and using pharmacological solutions to health issues that could easily be solved by food moderation and physical activity and they have arrived at their current state.

Mon, 08/15/2011 - 01:40 | 1560719 Don Keot
Don Keot's picture

You do not know what the fuck you're talking about.  72 work my own land, autocross my car and a damn good shot. My wife and dogs ride a bicycle or walk 5 miles a day and have done so for thirty years.  How do you value your mind and body?  Go to the gym and watch TV?  I've read so many books on history and economics I have to stack them on the floor.  Do you think I can get anybody to read anything?  Not a chance, too busy running around in circles or running their kids to play dates or $500 birthday parties at the bouncy dome or what ever the hell they are. 

Mon, 08/15/2011 - 02:18 | 1560750 jkings1
jkings1's picture

In the long run we're still all dead (though I am quite fit and realize the beefits of exercise, outdoors, yada, yada, yada.)

Mon, 08/15/2011 - 02:54 | 1560773 NoDragons
NoDragons's picture

Ok.  I had written a book on my dad in this comment.  (Delete and reset.) He's 87; cuts his own grass; keeps a small garden; has a hand shake you'd swear was a vice grip.  He cherishes his liberty, and despises those who don't cherish theirs.  My dad is an avid reader (my Mom is twice my father though!)  He has 25 grandkids and 11 Greatgrandkids.  Everyone in my family respect and look to my father as a role model.  Smoldering embers for generations to come...

 

Mon, 08/15/2011 - 05:28 | 1560843 blunderdog
blunderdog's picture

I hope you kill and eat your own grandkids.

Just to show who knows better.

Tue, 08/16/2011 - 22:09 | 1567609 GoatETF
GoatETF's picture

I said many not all. We do Meals on Wheels, volunteer at old folks homes, etc. and the active ones such as yourself are not the norm. Of the 70+ people in our family and exposure being out a about there are less than 10% who have any significant level of physical activity. 

Mon, 08/15/2011 - 03:41 | 1560788 OldPhart
OldPhart's picture

My Dad is 74.  He fenced five acres of desert property with a manual posthole drill after splitting railroad ties with an axe and a wedge and mallet over the last two months in desert temperatures exceeding 100 degrees.  He has the capabiltiy to totally kick the ass of anyone half his age.

My efforts to get him to hold off until I or my Brother can come help him are ignored.  He was even rebuilding a 48 truck we drug out of the back while he had one arm with all the shoulder ligaments torn off.

Compared to a lot of these people, we're just a bunch of loud talking pussies.

Mon, 08/15/2011 - 01:23 | 1560712 Don Keot
Don Keot's picture

You got that right Manthong.  Most of us have seen some hard times and have pulled back a long time ago.  Got out thirty years ago, had no idea it was going to take this long.  But guess what?  It's all paid for now and got what's needed socked away.  BTW, a neighbor just shot two cyotes last night.  I heard the gun shots and called him, he said "yea it was me, had some cyotes after my dogs again"  Thats what is real to me now.

Mon, 08/15/2011 - 02:13 | 1560732 DavidPierre
DavidPierre's picture

Don:

I got out of that nazi nation over 40 years ago to the out back in the mountains of BC.

I got a black bear sniffing around my garden and if he aint careful he'll be in my freezer this fall.

Lucky for me all the kids listened and learned.  Now they teach me.

Even though SmokeyQuinn wished they were...

The Boomers aint dead yet.

Mon, 08/15/2011 - 07:39 | 1560936 Bob
Bob's picture

Not by a long shot. 

Sun, 08/14/2011 - 22:17 | 1560349 FLUSA.com
FLUSA.com's picture

New dance song "Teach Me How to Bernanke" is all the rage among Central Bankers.....he started a craze...

Sun, 08/14/2011 - 22:19 | 1560352 tony bonn
tony bonn's picture

this article is corruscating briliance....i love it because it takes aim at the empire of lies foisted by the rockefeller-rothschild axis of evil....

fuck the fed and its masters...

Sun, 08/14/2011 - 22:19 | 1560354 pods
pods's picture

Good article.  I would take issue with his dismissing of deflation.  That is the biggest problem.  Banks are still too levered, as are most people.  Inflation is the slow killer. Deflation is what will blow the house down.

Look at all the sovereign crises unfolding.  A default will hurt them, but will implode the banks.  It has always been about saving the banks, and banks fear a cascading deflation.

pods

Sun, 08/14/2011 - 22:22 | 1560356 kaiserhoff
kaiserhoff's picture

Brilliant.  Thanks to ZH for another great post.  We can only hope that as the ponzi dies, more of the volk will pay attention to the real causes of misery.

On the same topic, I think the effects of the Tea Party have been understated.  Yes, no spending has been cut, but the momentum of the ponzi has been stopped.  Frauds are like a giant, bottom feeding shark.  The have to move forward, devouring more, more, more, or they die.  I think a good bit of last week's volatility came from Europe, but a lot also came from that slight tapping on the brakes, which will kill the greatest of all frauds.

Audit the Fed.  Arrest Bernanke.

Mon, 08/15/2011 - 08:00 | 1560983 Waterfallsparkles
Waterfallsparkles's picture

The Tea Party are going to be marganilized with the Super Congress.  That will neuter them of any meningfull change.

Sun, 08/14/2011 - 22:21 | 1560357 lynnybee
lynnybee's picture

More articles like this are needed / more outrage needs to be vented.    The elderly do not deserve this treatment; in fact, most of them probably don't really understand what is happening.        It's a moral outrage.    The elderly are helpless, BERNANKE is a thug.   

Mon, 08/15/2011 - 16:46 | 1562932 Waterfallsparkles
Waterfallsparkles's picture

Lynnybee,

Elderly are not helpless. But, it really depends on how well you raised your Children.  Mine are self employed and doing OK.  They are helping me. My Son fixes my computer.  That Computer Science Degree that I paid for comes in handy.  My Son in Law is in Home Improvement.  Fixes everything for free.  Except the cost of materials.  My Mother in Law recetly sent me lots of fresh vegtables from her garden.  GOD BLESS HER.

The probem is for many younger people is that they will end up caring for their elderly parents.  Not only physically, but financially.  That will be a drain on the economy as the money that would normally be spent will be used to help support Grandma and Grandpa.

So, you have a catch 22, in a way, lower Social Security and the Children of the Elderly will help to support Grandma and Grandpa and have no money to spend in the Economy.  That will hurt Corporations and eventually the economy.  No one that has the resource and family values will see their Parents suffer.

Sun, 08/14/2011 - 22:21 | 1560359 ironmace
ironmace's picture

So, what happens now?

Continued slow erosion of our quality of life, or a cataclysmic, global nuclear financial meltdown?

I elect the former in The US, with the latter in some not-so-stable-economies.

Sun, 08/14/2011 - 22:23 | 1560362 BernankeHasHemo...
BernankeHasHemorrhoids's picture

Yes, Ben Bernanke deserves a noose around his head. Actually he deserves to be tortured for a couple of weeks before execution. However the American sheeple are so stupid and so drugged up on meth and everything else that they could care less. So they really deserve the screwing they're getting. It's evolution and the too dumb to live Americans are going to go extinct - as they should.

Sun, 08/14/2011 - 22:24 | 1560369 66Sexy
66Sexy's picture

i may be on meth, but i DO own gold n silver..fizz, that is.

Sun, 08/14/2011 - 22:23 | 1560364 66Sexy
66Sexy's picture

This guy eats children for breakfast... and your wondering if he has a moral dilema over fucking grandma?

Sun, 08/14/2011 - 22:23 | 1560365 americanspirit
americanspirit's picture

So, who is going to do what needs to be done? Somebody lives near him. Somebody sees him step out his front door in the morning. Somebody knows where he goes shopping. Somebody can end the reign of this worthless piece of shit. And then there's the other 535 pieces of shit - somebody knows where each one lives, their routines, where they can be found on any given day. if I knew where any one of them could be found I would act, but I live in the middle of nowhere. But somebody lives next door to each one of these traitorous, heartless, worthless turds. Will nobody act to end their reign of terror?

Sun, 08/14/2011 - 23:27 | 1560399 gall batter
gall batter's picture

this is fight club, americanspit, not kill team.

http://www.youtube.com/embed/-McpNtHet3w 

Sun, 08/14/2011 - 22:39 | 1560407 KingdomKum
KingdomKum's picture

2 words  -

 

bullet,  brain   

 

challenge on  .  .  .  

Sun, 08/14/2011 - 23:16 | 1560498 I Got Worms
I Got Worms's picture

americanspirit, I like the cut of your jib.

Mon, 08/15/2011 - 00:22 | 1560622 zorba THE GREEK
zorba THE GREEK's picture

Do you really have worms? If so, what med did doctor prescribe?

If you never had worms, just disregard this post.

Mon, 08/15/2011 - 00:26 | 1560639 Prometheus418
Prometheus418's picture

I feel ya.

There needs to be a source, somewhere, that identifies targets and locations.  Probably wouldn't work on a website, but I bet it'd be an indestructable torrent.

Anyone who has this information should be sharing- some are good with bits, others are good with bullets.  Be a shame not to foster a little hybrid vigor.

Mon, 08/15/2011 - 03:45 | 1560790 OldPhart
OldPhart's picture

Your idea has merit.  I suggest expanding that to the State level. (I live in California...to explain and to self notify the gestapo.)

Mon, 08/15/2011 - 01:21 | 1560711 LRC Fan
LRC Fan's picture

I concur.  Too bad we're on a Homeland Security watchlist now.  Oh well.  Ben and Obama and all the other worthless pricks can kiss my fucking ass. 

PS-I own silver and support Ron Paul.  Add me to your fucking lists for that too, cunts. 

Sun, 08/14/2011 - 22:25 | 1560371 High Plains Drifter
High Plains Drifter's picture

http://www.hollywoodtoday.net/2011/08/10/hackers-build-cheap-spy-drone-that-rivals-cia-predator/

 

the resistance wants to talk to these boys about some ordering some of these homemade drones...........

Mon, 08/15/2011 - 00:31 | 1560644 Prometheus418
Prometheus418's picture

http://www.abovetopsecret.com/forum/thread59555/pg1

Drones?  We don't need no stinkin' drones!

Sun, 08/14/2011 - 22:30 | 1560383 Caviar Emptor
Caviar Emptor's picture

Fed policy has created biflation, where net worth and real incomes drop while costs rise. It's a demand killer and of course screws all savers and people on fixed income. It's a direct result of 4 decades of reckless monetary policy coming back to haunt. The Fed is finally getting wise and I believe that's why they backed off on QE3 for now. But I would not be surprised if Jackson Hole comes and goes without a new round of QE. They're caught between that rock and a hard place, can't put the pedal to the metal without killing consumers and demand. However they still want to support the banks, Wall Street and the capital backing failed loans and toxic derivatives so they don't have to take any haircuts. A mess. 

Sun, 08/14/2011 - 23:23 | 1560516 sasebo
sasebo's picture

You motherfuckers better vote for Ron Paul. He's got the useless asshole bankers & their puppets the useless asshole politicians shitting in their pants. Just think what will happen when Dr. Paul installs Austrians at treasury, the fed & dept of justice. Think that might shake things up a little bit? 

Mon, 08/15/2011 - 00:28 | 1560641 hayleecomet
hayleecomet's picture

I was pleasantly surprised to see how well he did in Iowa this weekend.  They will not allow him to proceed.  I have a few ideas about he will be stopped and it makes me feel afraid for him. 

Mon, 08/15/2011 - 14:20 | 1562355 Rhodin
Rhodin's picture

Agree.  Ron Paul almost won.  We heard lots about those who finished #1 and #3, and even those who did not compete, but Ron got little coverage.  It appears  political reporters are instructed to ignore him

Mon, 08/15/2011 - 14:43 | 1562468 sasebo
sasebo's picture

Thought about what would happen to this country if Ron Paul was assassinated by the bankers? Just wondering.

Sun, 08/14/2011 - 22:30 | 1560385 gwar5
gwar5's picture

You've all heard of financial repression. 

A new academic paper circulating at the IMF since April 2011 puts a smiley face on financial repression.  It's a 'How To' and a green light on how to sheer the sheeple. It's basically 'soft' economic martial law and authoritarianism. It's been done in the past in the USA post WWII.

Here's the related article and primer on what it is, with a link to the original paper. It has four hallmarks you should be familiar with. A good read, pass it on. Recognize it and avoid it by planning ahead now. Windows are closing. It would also be very wise of you to get a self directed IRA.

Financial Repression – What is it and how does it silently steal from you. « Political Metals (PMs)

 

Sun, 08/14/2011 - 22:42 | 1560418 gwar5
gwar5's picture

Here's a link to an article on self directed IRA's for those who don't know.    Amazing Power

Gives you a feel how they may be used to help protect yourself. Lots and lots of places to get them set up.  Google and shop it around. 

 

 

 

Mon, 08/15/2011 - 10:38 | 1561442 B9K9
B9K9's picture

Gwar, hopefully you'll see this comment: Yes, yes, and finally, one more time, yes! Financial repression is just another term to describe the various processes by which the core objective, continuity of government (COG), will be achieved.

I have repeatedly said that bankers don't control the federal government, it's the federal government that controls bankers. Oh sure, they're highly compensated in their role of facilitating empire, but it's merely a historical accident that this function was outsourced. A parallel construct, the MIC, represents a more traditional approach with its quasi-private/public form of organization.

So all serve to keep the great beast alive. It's both naive & absurd to believe that this country operates under any form of constitutional restraint. This is where brilliant analysts & writers like Quinn, Denninger, Mish, Stoneleigh, et al fail: they appear to believe (a) markets 'work'; and (b) it's immoral  to manipulate markets (and impossible to maintain for long) to serve other, unstated ends.

Wrong, wrong & wrong! There is no immorality (eg starving seniors) when the objective of 'saving the system' aka the "American Way of Life" is the "noble" objective. Casualties are always inflicted to preserve the greater good, and during this cycle, it's the oldsters who are going to bite the bullet. To believe Bernanke has trouble sleeping is to believe Patton had trouble sleeping - both rationalize the deaths under their watch as a necessary bi-product of the ultimate goal.

The debt will be inflated away. Savers will be crushed. Controls will be instituted. And there will be no way to exit the system. The only way out is if/when the whole shabang comes down, and that might be prove to be more painful than the existing status quo.

Sun, 08/14/2011 - 22:31 | 1560391 Downtoolong
Downtoolong's picture

an additional $6,000 of interest income per year.

Approximately the amount that CEO’s of Wall Street investment banks and major hedge funds earn in one hour. Therein lies the real rub. It’s impossible for people on either end of this spectrum to even comprehend the lifestyle and value system of the other, let alone accept and factor it into their choices and decisions. Have you ever accidentally run over a small animal in the road because you didn’t want to risk hitting other traffic or lose control of your car? If so, I bet it took you all of five seconds to rationalize that under the circumstances it was the right thing to do. I bet the animal and its orphan offspring waiting in the nest for food disagreed.    

Mon, 08/15/2011 - 00:07 | 1560596 trav7777
trav7777's picture

they weren't disagreeing long because I took a detour and ran them over too

Sun, 08/14/2011 - 22:33 | 1560398 bankruptcylawyer
bankruptcylawyer's picture

only two more years and then it will all be ok for grandma? this headline is some time of ridiculous joke.

 

the endgame for social security is a payout of more or less fixed benefits under REAL inflationary conditions as dictated by real inflation and not government falsfied cost of living stats, or it is some sort of technical default ( political renegotiation) on benefits known as 'austerity'. 

 

 

Sun, 08/14/2011 - 22:38 | 1560404 buzzsaw99
buzzsaw99's picture

An excellent piece with a pinch of empathy for a change. Kudos.

Sun, 08/14/2011 - 22:39 | 1560406 Dr. Gonzo
Dr. Gonzo's picture

Wonder who the next head Jew banker will be when he's gone...and the next Goldman/JPM Treasury secretary when Little Timmy goes. You can't do either jobs without those pedigrees and that is a fact and it should tell even the most clueless moron that he doesn't matter for shit in this country...  but I do think it's great that ten thousand hoople heads pretend they matter and can go to the Iowa Fair and vote for our future leaders based on which one gives out the most free corn dogs and cotton candy to feed their fat asses and which one puts on a Hillybilly Concert in their voting station. We are easier to control than the chimpanzees at the zoo. 

Sun, 08/14/2011 - 22:39 | 1560411 PulauHantu29
PulauHantu29's picture

Seniors and Savers are Totally screwed by the Zero interest on savings deposits. AARP has done Zero to help these old folks and Seniors have no other lobby to speak for them. They are the walking dead---zero interest on savings....no meaningful access to health care....zero COLA on SS benefits.....and of course, no access to legal help.

Hopefully, they read Peter Schiff, Jim Rogers, ZH, etc. for advice to protect as much wealth as they can.

 

GL!

Mon, 08/15/2011 - 00:08 | 1560597 trav7777
trav7777's picture

dude...does the interest come from fucking MAGIC?

How do you think the banks get the money to PAY that interest?

Mon, 08/15/2011 - 10:34 | 1561431 Diogenes
Diogenes's picture

They get the money by borrowing at 2% or less and lending the money out at 29.9%.

It gets worse. They can borrow and lend out approximately 30 times their capital. so they are making a profit of 27.9%X30= 837% per year on their capital and that is just on credit card debt.

That is baby stuff. They have lots more sophisticated tricks than that.

Sun, 08/14/2011 - 22:40 | 1560413 Bobby Lee
Bobby Lee's picture

This article gives screwing grandmothers a bad name. Remember, a lot of grandmothers are under 40 and still hot. My backup retirement plan is to attract six randy old ladies on SS and retirement survivorahip benefits and shack up in a compound somehere cheap. Collectively, we'll be rich. Why only six? Because I need Sunday off.

Sun, 08/14/2011 - 23:07 | 1560468 ironmace
ironmace's picture

So each one gets it once every six days? You're going to have to do better than that.

Sun, 08/14/2011 - 22:42 | 1560420 monopoly
monopoly's picture

This post almost makes me want to cry. The utter devastation of the middle class and our senior citizens who did nothing wrong. Shameful, and no one takes any blame. Just keep those congressional perks coming.

Sun, 08/14/2011 - 22:50 | 1560438 Caviar Emptor
Caviar Emptor's picture

In terms of US history, we're back to the situation that existed in the 1890s through 1929. 

Mon, 08/15/2011 - 00:26 | 1560636 Kinskian
Kinskian's picture

Years ago on NPR, someone who'd studied The Great Depression was interviewed and said that if not for the huge influx of immigrants from southern and eastern Europe that had occurred prior to the Depression, there would likely have been greater social unrest and violence in the US in response to the financial crisis.

Poor and miserable immigrants have lower expectations of government and politicans. Here we are again.

Sun, 08/14/2011 - 22:42 | 1560422 digalert
digalert's picture

The Bernank and the Jeethner should be bitch hoe's in prison.

Seriously.

Sun, 08/14/2011 - 22:48 | 1560433 MFL8240
MFL8240's picture

Brilliant article!

Sun, 08/14/2011 - 22:51 | 1560439 Little John
Little John's picture

The ZH gold bugs have the wealth protection problem figured out, but gold and silver ain't the only precious metals. Tools -like a welding machine, a table saw, a drill press, a lathe, ect - are more available and in real terms cheaper than ever before. Gold only stores wealth, tools create it. That leads us to weapons. They are special tools for defending wealth and other things that sometimes need defending.  An old boy told me one time that a gun is like a turnip - you don't need one very often but when you do nothing else will do.  

Mon, 08/15/2011 - 00:47 | 1560666 piceridu
piceridu's picture

Little John +1743.68

Sun, 08/14/2011 - 23:04 | 1560463 newstreet
newstreet's picture

Carthago delenda est.

Sun, 08/14/2011 - 23:07 | 1560471 newstreet
newstreet's picture

Carthago delenda est.

Sun, 08/14/2011 - 23:07 | 1560472 newstreet
newstreet's picture

Carthago delenda est.

Sun, 08/14/2011 - 23:07 | 1560473 newstreet
newstreet's picture

Carthago delenda est.

Sun, 08/14/2011 - 23:11 | 1560484 Milton Waddams
Milton Waddams's picture

When is Bernanke going to have his Kayne West moment?  The corpse of Wilford Brimley will appear on some widely watched television program and will unexpectedly, using advances in computer graphics, made to say "Bernanke doesn't care about old people."

reference: http://www.youtube.com/watch?v=zIUzLpO1kxI

Mon, 08/15/2011 - 01:52 | 1560729 Don Keot
Don Keot's picture

Wilford Brimley is alive and well and considering his politics he may come on and say it in person.  Type in Wilford Brimley, he has done it all.

Sun, 08/14/2011 - 23:13 | 1560490 Jim in MN
Jim in MN's picture

In the Fukushima file for this evening, more scientific evidence of being totally screwed (this plays into the food/commodity inflation story, specifically rice, indicating potential long term damage to a significant portion of Japan's productive capacity):

Jiji Press

http://jen.jiji.com/jc/eng?g=eco&k=2011081200798

Cesium Seeps into Ground Faster Than Previously Thought

   Tokyo, Aug. 12 (Jiji Press)--Radioactive cesium from Tokyo Electric Power Co.'s <9501> tsunami-crippled Fukushima No. 1 nuclear power plant seeped into the ground far faster than previously thought, a study has shown.
   In the joint study by the University of Tokyo and Fukushima Prefecture, home to the TEPCO plant, cesium that fell onto rice paddies at the Fukushima Agricultural Technology Center in the city of Koriyama seeped into the ground at speeds 0.1 to 0.2 times the penetration speed of water, compared with the previously estimated level of 0.001 times
   The university and the prefecture also looked at the strength of fixation between cesium and soil particles.
   Cesium-tainted soil samples from the center were poured into fresh water and water containing fertilizers, and these were stirred for a while. But only 20 pct of the cesium contained in the soil samples dissolved into the water, while the rest remained stuck to soil particles.
   The result indicates that it is difficult to wash cesium away from crop fields and rice paddies.

Sun, 08/14/2011 - 23:15 | 1560495 Silvergood
Silvergood's picture

Excellent article Tyler...You have the best web site on the web!

Sun, 08/14/2011 - 23:16 | 1560499 Jim in MN
Jim in MN's picture

Oh and just for good measure, US bases storing radwaste in Japan.  Wonder who regulates this activity?  Never mind.  None of your business.

http://jen.jiji.com/jc/eng?g=eco&k=2011081100580

Jiji Press

3 More U.S. Bases in Japan Store Radioactive Waste

   Naha, Okinawa Pref. Aug. 11 (Jiji Press)--The U.S. military is storing waste tainted with low-level radioactive materials leaked from the crippled Fukushima No. 1 nuclear power plant at three more bases in Japan, it was learned Thursday.
   The three are the Navy's Yokosuka and Atsugi bases, both in Kanagawa Prefecture, eastern Japan, and the Marine Corps' Futenma air station in Okinawa Prefecture, southern Japan.
   The U.S. military was found last week to be keeping low-level radioactive waste at the Navy base in Sasebo in Nagasaki Prefecture, southwestern Japan.
   According to municipal officials of Ginowan, where the Futenma base is located, the Japanese Foreign Ministry notified the city on Wednesday that radiation-tainted cloth is being kept in a sealed container at the base.
   The cloth was used to wipe radioactive substances off U.S. military planes that were sent to northeastern Japan areas devastated by the March 11 earthquake and tsunami for relief operations. The catastrophe knocked out Tokyo Electric Power Co.'s <9501> Fukushima No. 1 plant, leading to massive leaks of radioactive substances.

Sun, 08/14/2011 - 23:17 | 1560500 jal
jal's picture

=== 

http://market-ticker.org/akcs-www?post=192253#discuss 

The Black Swan Is On The Wing


Mon, 08/15/2011 - 00:45 | 1560662 MsCreant
MsCreant's picture

This was bad, I'm not sure what Karl was thinking posting that.

Sun, 08/14/2011 - 23:19 | 1560503 Imminent Collapse
Imminent Collapse's picture

Cellphones turned off in SF to stop some kind of mass gathering.  Things are getting a little strange, but we haven't seen anything yet.  When TSHTF all social veneer will drop away quickly.  The elderly and those on fixed incomes are hurting from the actions of the Fed, but the class warfare like that seen in London recently, will really jolt the world.  Not much the Fed can do about that inevitability.  Police state can't do much about it either.  Food and football.  That is what the US is counting on to keep people calm.  I just wish they would put in a playoff system for college football.  Obama promised!

Mon, 08/15/2011 - 00:11 | 1560601 trav7777
trav7777's picture

class warfare?  You bought that shit?  Look at the videos of the london riots, man...class?  Try race.

Mon, 08/15/2011 - 05:03 | 1560829 falak pema
falak pema's picture

London is multicultural, and apart from those muslim fanatic groups that for some reason they have tolerated for twenty odd years, its not a race issue place. It is a class issue place since centuries going back to England's own proper Dickensonian history. The fact that immigrants don't get good jobs is an evidence fed on class strata, centuries old in UK society. Also through lack of community melting pot programs, that result in increased retrenched community ethnic plus economic segregation over the years. This is a common phenomenun now in EU countries and even in USA.

The west has two choices in this area : either pursue the 'no race, no creed, no blood line' tradition written in our constitutions of USA and revolutionary France, that Enlightenment days beacon of european progress; or regress into ethnicity and class distinction going deeper and deeper into society to the point where we reach irretrievable tipping point; as in Spain in middle ages or in conquistadorial colonial play in the Americas. 

The choice of history seems obvious...unless you be son of third reich.

Sun, 08/14/2011 - 23:20 | 1560508 Milton Waddams
Milton Waddams's picture

Bernanke is a short, fat, bald, jewish economics nerd that has obtained some very real power and influence living in a society that idolizes celebrity, attractiveness, the prom queen, and the star quarterback.  And a world that has historically persecuted jews.  I have no doubt that he absolutely hates the overwhelming majority of people and will do everything in his power to create conditions that lead to the most amount human suffering possible.

Mon, 08/15/2011 - 00:12 | 1560604 trav7777
trav7777's picture

Figure it out:  the world has historically persecuted Jews because jews have historically DONE THE SAME SHIT AS THE BERNANK AND ALL THE BANKSTERS HAVE.

Where do you think the term "jew confetti" comes from?

Mon, 08/15/2011 - 01:06 | 1560687 Milton Waddams
Milton Waddams's picture

So you are saying that Jews are the superior race?  I would agree, given that the main focus is on education and survival.  

Mon, 08/15/2011 - 08:23 | 1561043 Bob
Bob's picture

Trav, I sense your increasing frustration!  Why can't the fools just see that the Jews and darker races are the source of our problems?

Clearly there is only one real solution. 

You must step up your efforts!  Everything you hold near and dear depends on it! 

Cleanse society of the jews, blacks, a-rabs, wetbacks . . . hell, let's just say WASPS only, okay?

It's amusing that you turn so freely on 9-11 truthers as being irrational. 

Everybody's got their pet story. 

Mon, 08/15/2011 - 15:07 | 1562582 MsCreant
MsCreant's picture

Somewhere in his gut he just HAS to know that is fucked up. If he were black, (jew, etc.) would he feel the same?

Mon, 08/15/2011 - 06:02 | 1560851 Escapeclaws
Escapeclaws's picture

This is a very insightful comment--correct me if I'm wrong, but I don't see any anti-semitism here. I've had the same impression from watching him in interviews--that he just hates the dominant culture of this country, to the point where his lip quivers when he's confronted with some Aryan interviewer. He grew up in probably the only Jewish family in an ocean of southern Bible thumpers. His father operated a drugstore and probably had to twist himself into knots to allay the suspicions of his custormers. It must have been torture for Bernanke and it probably steeled his resolve to get the grades and the scores to get out of there. He acts like someone who has been scarred for life. He is an injured man who has been given absolute power. That probably makes him a good tool for his masters.

Sun, 08/14/2011 - 23:24 | 1560520 LRC Fan
LRC Fan's picture

The Banksters and Feds are addicted to ZIRP, QE, and fiat money.  They use violence, the courts, and deception to keep people submissive. 

Yet for all the boo-hoo'ing about "grandma eating cat food" we also don't hear much about who the enablers in this addictive relationship are: The very "grandmas" who are being screwed over!  Quite simply, the Banksters and Feds are criminals, thieves, liars, murderers of the highest degree.  This cannot be disputed.  Yet who allows it to continue unabated? 

The people who simply dump 6% of their pay every year into a 401k and forget about it.  The people who throw their entire life savings into "risk free" CDs and money market funds and don't bother to spend 30 minutes reading the basics and exploring other options.  The people who simply invest their entire retirement into the company stock.  The people who think mindlesslessly buying ENRN or WCOM all the way down is smart.  The people who now invest in BAC or even the SPY because "it always comes back."  These are the enablers. They also share the blame for the length and scope of this problem. 

If someone comes into my unlocked house at night and robs me once, it's a terrible thing, a tragedy, no matter what.  No one deserves that, even if it's a bit strange to leave your house unlocked at night.  But after I continue to leave the house unlocked, and continue to be robbed, over and over, it becomes less and less of a sad story and more of a tale of one criminal and one fucking idiot. 

"We the people" (those who vote, not me) keep letting the Fed steal and inflate all the wealth away.  At first, it was simply criminal.  But now, after nearly 100 years, it's criminal, but also just pathetic that it hasn't been stopped. 

The funny (not even sad anymore, because it's been tried for probably 50+ years) part about this whole thing is that very few know what's going on.  Most think that "change" can sweep across Washington DC and we will all be saved.  We're always one election away from turning things around.  For a bit we were one minority away from doing it.  Maybe now they will play it as "one female" away.  One more Democrat.  One more Republican.  But the truth is that things most likely WILL NOT CHANGE until real, actual people start feeling the pain.  And real pain.  Being unemployed but collecting a check for 99 weeks isn't pain.  Pain is having to choose between feeding your kids and paying your rent.  Pain is cutting back on trips to the movies all the way to 0 times per month until you actually find a steady income.  Pain is having to give up HBO and baseball games and stop going to the casino and spending time on Fantasy Football because you're looking for a way to eat.  We're nowhere near that. 

Anyone who feels sorry for "grandma" is an idiot.  Grandma should have seen this coming, or at least one of her kids or grandkids should have realized what the fuck was going on and gave her a heads up.  It's not like these grandmas and grandpas have been helpless forever, they obviously worked for 40+ years and saved every penny they could (sarc) and yet one day they woke up old and helpless and broke?  Get the fuck out. 

Mon, 08/15/2011 - 00:00 | 1560586 A Lunatic
A Lunatic's picture

Granny threw herself under the bus a long time ago.

Mon, 08/15/2011 - 00:18 | 1560615 Diogenes
Diogenes's picture

It's a chess game that grandma did not know she was playing. Jobs, real estate, the stock market, interest rates, all rigged in someone elses favor.

She has been working and saving in good faith all her life, not knowing she was a pawn in someone else's game.

There are no good choices or good investments left. It is not a question of granny not being smart enough, or working hard enough.

Mon, 08/15/2011 - 00:47 | 1560664 LRC Fan
LRC Fan's picture

How can people be so fucking ignorant for so long though?  Especially in 2011.  I'm 25 and have taught myself the basics (I'd say I'm an intermediate student) of Austrian economics using just the internet for maybe 1-2 hours a day.  I consider myself bright and tech savvy, so I figure I can try and spread the word to others, especailly folks like my grandparents, my aunts and uncles, my parents, and my friend's parents.  I also interact with a lot of coworkers who are 40+ and I try to help them understand things without sounding too crazy.  I tell them the basics of where we are and where we are ultimately  headed, depression and/or hyperinflation.  Probably both.  Some give me a "gee, thanks for being so bright today!" with a chuckle, but most just don't know/care and DO NOT WANT TO KNOW THE TRUTH!!!!!!!!!!!!!!!!!!!!!  That is the problem!  They are more than capable.  My 82 year old grandpa thought about buying gold 10 years ago but his son (my uncle) told him that was a dumb idea.  2 years ago I found out and have been telling my grandpa to buy gold, get out of stocks if he can but buy some gold every month and he just says "I missed the boat there."  He is still sharp mentally but he just doesn't want to do it.  My uncle is even worse, telling me not to buy silver and gold as I add more and more and he tells me how worthless gold is and I'm overpaying.  "Only for jewlery" is his motto.  He's a great uncle, a nice guy, even ran his own business for many years.  He is MORE than capable of understanding, but can't be bothered to read Zerohedge or some Rothbard or Ron Paul stuff.  Eventually you just have to move on and let them go I guess. 

I don't want to make it seem like I'm on the side of the Feds here, but people just don't give a fuck that they're being robbed every day.  So what do you expect?  The robbers keep coming back.  The only solution most people can come up with is to vote the bums out, like that ever has mattered.  People who can't be bothered to figure out what real interest rates and real wages mean don't deserve to have any assets since they are ignoring the most basic aspect of investing.  Most people just think stocks up=better retirement, when in reality that is what will fuck everyone over who is 100% invested in the SPY.  The SPY will go to 10,000,000,000,000 but bread will cost just as much per loaf and gold won't even be priced in dollars anymore.  And you can see it coming a mile away.  The Feds are telling you that rates will be at or near 0 for a few more years, and they are playing extend and pretend more than ever, which just gives people even more time to load up on PMs or at least get out of stocks.  But nah people are too stupid to realize it, and if you try to help them they laugh and say "we always come back" or some other bullshit. 

Rape sucks, but if you get raped every day and night and don't bother reporting it or trying to stop it, what the fuck do you expect?  Seems most people don't even bother to look up the number to 911 anymore, they just accept the financial rape and move on.  Every day I'm losing patience trying to explain it to everyone, and I eventually will hit a point of saying "fuck it" and just working more overtime to afford more PMs instead.  Or watching some more porn. 

Mon, 08/15/2011 - 02:05 | 1560738 Don Keot
Don Keot's picture

LRC Fan, have you talked to your own generation?  Are they texting and playing video games?  It isn't an age or generation thing.  I have four kids and ten grandkids.  One daughter and one son and two grandkids get it.  The rest have "normalcy bias" and don't think anything will change, because it hasn't in their lifetime.  Don't fret about it, very few will be changed.  Take care of yourself and maybe they will turn to you when the time comes and they finally realize you had it together.  The hardest thing for me to do is keep my mouth shut around the unbelievers.  Stay on the Hedge and find some like minded friends and sleep well. 

Mon, 08/15/2011 - 03:46 | 1560791 Pay Day Today
Pay Day Today's picture

LRC - you seem like a good guy but you're expecting too much of people who have already done their time in the wars (literal and metaphysical) or who have been deliberately deconditioned by this false world which has been projected at us.

Being a leader necessitates finding people who will follow you. And that is a difficult and arduous process in itself. Don't forget that most people over 80 today know and can do stuff which will be very useful in a declining, de-industrialising world. From patching a weld to sewing a seam to making pickles. Not everyone can do or know everything, that's why in these times building up family and community links is crucial. No man can be awake 24/7/365 by himself, nor bea master at all which will be needed in the future.

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