Guest Post: Could This Make Ben Bernanke A Soviet Dictator?

Tyler Durden's picture

Submitted by Simon Black of Sovereign Man

Could This Make Ben Bernanke A Soviet Dictator?

Could this make Ben Bernanke a Soviet dictator?
More than two decades after the fall of the Soviet Union, the Iron Curtain is still alive and well in an often forgotten corner of Eastern Europe… albeit a kindler, gentler version.

Belarus has been ruled by the same person, Alexandr Lukashenko, practically since its independence in the early 1990s.

He has total control of every facet of the country, from media and information flow, to education, to the military and ‘State Security
Agency’ (which is still called the KGB), to the centrally planned economy.

Perhaps nowhere is this more obvious than with respect to the nation’s currency, the Belarusian ruble.

In 2009, one US dollar bought roughly 2,200 Belarusian rubles. In 2010, that number rose to 2,800. A year later, over 3,000. And today, one US dollar is worth over 8,000 rubles. On the black market, it’s much, much higher.

(You can just imagine how much the ruble has lost against gold and silver over the same period.)

My friends here tell me that, last summer after another bout of devaluation, it became nearly impossible to purchase euros and dollars. The currency was falling too rapidly, and no trader was willing to take the risk. Even the central bank stopped exchanging its reserves.

Consequently, small businesses in Belarus couldn’t get their hands on the hard currency they needed to pay foreigners for imported goods. Store shelves, including groceries, emptied quickly.

And people took whatever savings they had and traded it for anything they could find– sugar, toilet paper, ironing boards… you name it. As I’ve been told, hand tools were especially popular as a store of value in some parts of the country.

4 It could be Vienna 300x199 Could this make Ben Bernanke a Soviet dictator?This is the key difference between ‘inflation’ and ‘hyperinflation’. Inflation involves a lot of painful price increases that reduce the
standard of living for most people in society.

Hyperinflation, on the other hand, is a complete loss of confidence in a currency.

Anyone here who has held on to the local currency has gotten completely screwed. The few people at the top making the decisions have held on to power and become very wealthy at the expense of everyone else.

Let’s face it, though, the situation isn’t too different in the west– a tiny elite making decisions that affect hundreds of millions of others.

The only distinction is that western governments wrap up their economic authoritarianism in a blanket of democracy to make it seem like it’s OK. Yet in controlling the price of money, they control virtually everything else in the economy… at the expense of everyone else.

It’s a different variety of central planning, but it creates the same sorts of egregious misallocations of resources: people borrow when they should be saving, they consume when they should be working harder, they load up on multiple homes when they should be renting, businesses expand when they should be conserving…

These are the consequences when a tiny elite is given the power to print silly pieces of paper and pass it off as money.  We’ve all seen this movie before, and we know how it ends.

Zimbabwe is the example most frequently cited, though Belarus’s authoritarian, state-controlled economy easily ranks among the most spectacular destructions of wealth in modern times.

For what it’s worth, the Minsk city-center is quite nice and exceptionally clean. If not for the authoritarianism and constant presence of uniformed goons on the street, it would be a really great place to hang out. The people, particularly the youth, are engaging and friendly.

I have serious expectations that this country will one day dump this totalitarian nonsense and emerge as a resource-rich power in Europe, in no small part due to the energy of its youth.

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l1b3rty's picture

The eastern bloc of europe has remained under soviet rule even after the lifting of the curtain as the synthesis between western democracy and soviet central planning has been undertaken by TPTB. The two sytems clashed, creating a new one, a new way of a system

I am not sure if Bernanke would be the soviet dictator at this point, as its quite clear the soviet mission of gradual communist expansion into the entire world has been used by transnational corporations and demise of the state globalists. This leaves the true Josef Stalin as someone else, behind the curtain. Bernanke is just lapdog.

vast-dom's picture

"Max Keiser: Banks Are Dead!"


Hey Ty post this on ZH with partial transcript.

I think I need to buy a gun's picture

i haven't watched this yet but of course the banks are dead, we will have oligarchs what do they care if the banks are zombies,there gone the heist is almost complete

I think I need to buy a gun's picture

by the way guys ben bernanke should be trusted 100%, he even said during his last testimony that the united states has a perfect record for paying its bills

joe6px's picture

To what extent are the street dictators, or mafia, involved in this?  Any time anyone mentions Russian anything I start to think mafia......Mafia is the reason the USSR didn't implode completely.  Mafia is the most basic form of government.  The strongest dictate policy by intimidation and ruthless action.  Who rules the streets when the government paycheck stops flowing....Certainly not the white knights in uniform....they will just be disposed of (if they were honest) or assimilated.  We would like to think that there is a hierarchy in society, that there is order.  In truth there is, but we are not a part of it.  In a social breakdown the most capable are those already fighting the system, and they are as ruthless as Stalin and will kill you faster than Hitler.

Precious's picture

Bernanke is perfectly happy with his present position, dictator of the ignorati.

joe6px's picture

When his contractors can't be paid and run astray, do you think Ole' Ben would be able to fend for himself?  To the contrary, to those that are paying attention, he will not be forgotten.


That wasn't my point.  There are lords of the streets, bloods, crips, etc.  that rule the everyday level of survival in any city.  Your suit will not save you.  They do not care about status as far as we are concerned.  Map the available information about street gangs around your house, whithin 200 miles.  Then guess who they will visit if things go wrong.  If you think I'm being too reactive then look at Argentina.  Things get tough, and then the thoughs get things.  Wake up friends.  I don't care if you have a ton of Au or Ag,  shitheads will try to find you.  Plan accordingly......(if a city police department can barely maintain a status-quo what makes you think you can defend yourself?)


economics9698's picture

"Dont be such a pessimist it's cos all we need to do is to remove Jews from Politics,News Media and Banking System and if that's not gonna work then let's send all of them? to Madagascar....the jewish Reptilians are Evil

I am sure Tyler likes seeing these comments.  Taking notes and names... 

joe6px's picture

I know it is troll bait, but my thought process has nothing to do with race, color, or creed.  I only want those people that are not involved with street gangs to map the area of influence of said street gangs and then plan accordingly.  As I have said before, I will not go willingly to a fema camp.  I will send my name and address to whoever thinks they need it.  Those that are monitoring it will already have it, and if you want it.....MOLON LABE.  Bitch.  So, eco9698, are you coming for me?


MuppetMaster's picture


I have found Alpha.  & I give it to you for free.

Come see what I'm doing.  See what I'm seeing.

joe6px's picture

You are a paid agent.  there is no connection between the sound arguments I have made and your propaganda.  piss off.

take your intimidation elswhere troll.

joe6px's picture

As an afterthought I think Somalia is a perfect example.  In a complete power vacuum we see all types of shitheads vying for the Head Dipshit In Charge title.  Djibouti is the end result.  Wastelands of inhuman waste.  Put on your tie, straighten your jacket, and look long and hard into the mirror.

joe6px's picture

And just for good measure:

The reason the USSR had such a thriving mafia is because the centrally planned economy could not respond fast enough to real world circumstances.  Central planning DOES NOT WORK.  It has been proven historically.  China is the biggest hypocrisy on the planet.  They try to claim they are communists but every action tells the world they are totalitarian with a crony capitalist scheme.  Socialism lasts only as long as there are working people willing to pay for the sick, lame, and lazy.  Like it or not, as harsh as it is, life is still the plains of Africa.  Make your own way or be eaten.  You can be eaten by someone bigger than you or your own decision to graze in the rocks.  I'm not living by anyone's efforts other than my own.  I'm part of a ship (business) and I do my part because the health of the ship is the very same as the health of my family.


BTW, I made less than 50K last year.  If you think Euro socialism is so great and list Norway as a reason we all should be socialists....look to the north sea and how much that country taxes the oil.  Suck it.

SWRichmond's picture

Ben Bernanke is the enabler; he is the bubble-blowing central banker, exactly like Hjalmar Schacht.  As such, he is directly and personally responsible for everything he makes possible.  Remember, Schacht was tried at Nuremburg.

They are laying their cards on the table, face up.  Either you look at them or you don't.

Conrad Murray's picture

What do you do when you're looking at five aces? You pull out the BenchMade and hawk the thief across from you down.

The time for idle chatter has passed.

joe6px's picture

There are those more deserving than others.  The bankers, once disposed of, will send an indisputable message to those who are supposed to represent us that there will be no more quivering in the shadows.  There will be no more kicking the can.  That they will lead by example or be shown the most horrible door.  They believe there are no consequences for their actions....we need to prove it differently.  Fire them first...

Belarusian Bull's picture

He is pro at lying. Bernanke and Obama are little kids compared to this man. A few days ago, when visiting a museum dedicated to himself, every word he said was a lie.

You have to train really hard to reach this level.

disabledvet's picture

is it really this simple? I mean this guy doesn't understand what happens when your banking system is obliterated...let alone your bank? i say no. "if it means financing 250 billion in social media in La Paz--it means doing your job" and provided he's "sent the memo the Mayor" then all is good. (oh, and...truly...Upstate New York is thankful for your Chobani Mr. Dimon. And we look forward to your Nirvana!)

hawks5999's picture

2200 to 2800 in a year? In 2004 the USD went from 1,000 rubles to 10,000 rubles in six months.

They couldn't print fast enough and just told people to mentally add a zero to the end of every bill.

It was during this time Lukashenko - a vocal hard line soviet communist - was elected.

Coming soon to America...

Belarusian Bull's picture

A small correction : not in 2004 but in 1994.

resurger's picture

Send my regards to Carmen Kass

nmewn's picture

"I have serious expectations that this country will one day dump this totalitarian nonsense and emerge as a resource-rich power in Europe, in no small part due to the energy of its youth."

I hope your right Simon...but it'll probably take the blood of patriots & tyrants.

Zaydac's picture

"I have serious expectations that this country will one day dump this totalitarian nonsense and emerge as a resource-rich power in Europe, in no small part due to the energy of its youth."

Yeah. Just like North Korea.

TrainWreck1's picture

Ben could look like Lenin if he trimmed the beard and got a little Grecian Formula...

Jim in MN's picture

In Soviet Bernankestan, fiat dictates you.

buzzsaw99's picture

Anyone here who has held on to the local currency has gotten completely screwed. The few people at the top making the decisions have held on to power and become very wealthy at the expense of everyone else...


That sounds vaguely familiar.

JR's picture

Because of fiat currency, the similarities between Belarus and the U.S. are striking. The one difference, of course, is that Belarus broke from the Soviet umbrella with a meager economy that is now being destroyed, whereas the United States, founded on freedom and free markets, had developed the most successful economy in the world. And, so, it has taken longer for the cartel of private bankers who own the New York Federal Reserve to destroy America’s wealth and bring her freedom and political system to the wall.

Given a little more time, the cartel’s chauffeur, Ben Bernanke, will finish the destruction.

Because the bankers own Congress, Bernanke will not be a Russian-style dictator; he will be the dictator of America.

And, BTW, the destruction of American small business, pensioners, savers, homeowners, small investors, young couples facing austerity and high risk futures, vast numbers of unemployed, record food stamp and other welfare recipients who have no future other than government, makes it obvious that this servitude was not done because of a failed fractional reserve system. It can now be said that it is deliberate, it is planned and it is being carried out under orders from the would-be masters of this once vibrant country.

Simon Black is to be highly commended for this groundbreaking message.

AnAnonymous's picture

whereas the United States, founded on freedom and free markets,

Not only the US started as a slaver nation, but they prohibited quite soon the importation of slaves as they did not have the navy to secure the supply lines.

Freedom, free markets...

More likely, a large well conserved continent just at the doors.
Something Belarus did not have... Where are the Indians to sponsor my rise? That is the common question any US wannabee should ask herself.

joe6px's picture

Your argument is without reason and is indicative of race baiting and poor thought process.  The native American is the real loser in the history of the USA, that much is true, but trying to tie European expansionism to early colonialism is a stretch even a child would dismiss.  Try again.  Oh wait, the same men who discounted slaves would also discount indigenous people.  Correct.  As any people who conquered any land by the sword, those that lived wrote history.   Was it just or right?  Most likely no, but did those same indigenous people take and keep slaves? YES.  Right or wrong your argument is misplaced.

Poor Grogman's picture

More likely, a small  continent with no rescources just at the doors.

Unfortunatly the wrong door  for Tibetan Citizenism

michigan independant's picture

September 15, 1991 I was made aware in writing. Not a new issue. I made a comment in 1986 that paved what we already know. There are no acidents in foreign policy. Simon is another much later.

Marginal Call's picture

I'm trying to figure out how Ben factors into this story, or why you bothered writing it.


"In 2009, one US dollar bought roughly 2,200 Belarusian rubles. In 2010, that number rose to 2,800. A year later, over 3,000. And today, one US dollar is worth over 8,000 rubles. On the black market, it’s much, much higher."


This little gem here really drives home how bad the dollar is.  That is your point, right?  Ben is fucking up the dollar and I'm going to prove it to you, just look at these #;s.  No, um, shit!  Fucking rubles. 

Maybe you could turn these posts into a show, like Bourdain's no reservations.  Simons European Unicorn Rides and Adventures.  And then Soveirgn Man can go around the world and show us how fucked up all the other places are.  Wait, you want us to move there?  Shit again!  

I'll let you in on a secret Simon, every major currency is trying to out print the other and in a monetiztion race.  Yet we're staring deflation square in the eye.  

surf0766's picture

The comunist countries have all the money. Or so we were told today

AUD's picture

What often fails to be mentioned is that places like Belarus, Zimbabwe are placed under crushing ecomonic sanctions. Any interbank payments requiring foreign exchange are stopped.

While not a prerequisite for hyperinflation, it doesn't help.

q99x2's picture

Russia has been difficult to take over probably because all the natural resources provide enough sustainance even without money. Difficult for the NWO to get someone in office like Davis, Soetoro, Obama or whoever the hell the President of the US is.

francis_sawyer's picture

 [sustenence without money]... What a concept... Bankers ought to try it sometime...

My Days Are Getting Fewer's picture

Those nice young people in Minsk.


Where is Strelnikov?



Belarusian Bull's picture

Many of young people want to leave the country.

Conrad Murray's picture

Bernanke can dictate a set of nuts onto his chin, that's about it. That little Hymietown Henchman weasel should swing in the wind with the rest of the communist pigdogs of the DC/NY Axis of Evil.

Hedgetard55's picture

ZIRP has effectively killed the price transmission mechanism that is interest rates, thus total mispricing of all assets. It is akin to cutting the nerves in your hand, the hand becomes ineffective, and you can put it in a flame and never realize it.

meritocracy's picture

Lukashenko says:

“Belarusian people will live bad but not long”

"Better a dictator than gay"

disabledvet's picture

how original! does he have the King Biscuit Flower Hour though? no? Wow...

nmewn's picture

+ a million for the King Biscuit Flower Hour mention ;-)

world_debt_slave's picture

well, you would have to look at this in the view of a Darwinist, the strongest survive, the rest are fucked.

Pure Evil's picture

No, they just move to the US, collect their welfare benefits, and vote for Obama, Pelosi, and Maxine Walters just to name a few.

world_debt_slave's picture

yeah, but the 1% will remain on top when the bennies run out.

nmewn's picture

Not to worry..."Mr.Doin Fine" will just order up another round of QE for running guns down south...errr ahhh...a pandering tequila summit...ahhh, well, you know what I mean.

Its very complicated cerebral stuff that only the One is capable of ;-)