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Guest Post: The Real Reverse Robin Hood: Ben Bernanke And His Merry Band Of Thieves

Tyler Durden's picture


Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Away from the stifling media crush, staid Ben Bernanke is dashing Reverse Robin Hood, lackey pawn of the Neofeudalist Financial Lords who shamelessly steals from the poor to give to the parasitic super-rich.

Amidst electioneering chatter about a "reverse Robin Hood" who steals from the poor to give to the rich, it's important to identify the real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves, a.k.a. the Federal Reserve. It's especially appropriate to reveal Ben as the real Reverse Robin Hood today, as the Chairman is as omnipresent in the media as Big Brother due to the Cargo-Cult confab in Jackson Hole, Wyoming.

Please answer the following questions before launching a rousing defense of the All-Powerful Fed and its chairman:

1. What is the nominal yield on your savings account, thanks to the Fed's zero-interest rate policy (ZIRP)? (Answer: 0.25%)

2. What is the inflation-adjusted yield on your savings account? (Answer: - 2.25%)

3. What is the rate of interest the Fed charges banks for "free money"? (Answer: 0%)

4. What is the average interest rate for bank-issued credit cards? (Answer: 14.52%)

5. What is the interest rate for student loans? (Answer: 6.8%, and 7.9% or 8.5% for PLUS loans)

6. Does the Fed pay interest on the funds banks have borrowed from the Fed for 0% and then deposited with the Fed? (Answer: yes)

7. Exactly how has the average American worker benefited from the Fed's policies? (Answer: interest on credit cards has declined from 19.9% to 14.52%, if the worker has outstanding credit, which few of the bottom 90% do.) Theoretically, workers could re-finance their homes at lower interest rates, but the vast majority are either underwater or no longer qualify. Ben and the Merry Thieves love pulling Catch 22.

8. How has the average parasitic Neofeudalist Financial Lord benefited from the Fed's "rob the poor to give to the rich" policies? (Answer: Handsomely. The top 1%'s income and net worth has soared as Ben and his Merry Band of Thieves have stripmined interest income from the poor and pension funds and diverted it to the rich.)


9. Have the Fed's Reverse Robin Hood policies narrowed income disparity in the U.S.? (Answer: no--income disparity has widened further as a result of Fed goosing of risk assets.)

10. How many of the nation's 14.5 million unemployed have gotten jobs as a result of Fed policies who would not have gotten a job if the Fed had been abolished in 2009? (Answer: unknown, but the best guess is 17, including Bennie the part-time janitor, with a statistical error of + or - 17.)

11. How does Ben the Reverse Robin Hood justify his thievery? (Answer: he doesn't. Officially sanctioned propaganda casts him in the role of selfless do-gooder, protecting saintly Neofeudalist Financial Lords from restless debt-serfs.)

Listen up, debt-serfs, you have it good here on the manor estate. You get three squares of greasy fast-food or heavily processed faux-food a day, and if Reverse Robin Hood and his Merry Band of Thieves is ripping you off it's for a good reason: the predatory Neofeudalist Financial Lords need the money more than you do, as they have a lot of political bribes to pay: it's an election year, and the bribes are getting increasingly costly. Poor things, we're sure you understand. Now go back to work or watching entertainment (or "news," heh) and leave the Lords alone.


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Fri, 08/31/2012 - 14:32 | 2753443 Neethgie
Neethgie's picture

Bernanke has fired every bullet he has got, hes now in a stand off, with the markets hiding behind a bullet riddled doorway shouting I HAVE MORE BULLETS DONT COME IN HERE.
eventually some brave analyst will peer his head round the door and find bernanke and the us economy naked.

Fri, 08/31/2012 - 14:39 | 2753454 Cult_of_Reason
Cult_of_Reason's picture
Jackson Hole Paper Strongly Critiques Fed

By Jon Hilsenrath

Columbia University professor Michael Woodford launched a stinging critique of the policies of the Federal Reserve and other central banks in the wake of the financial crisis, accusing them of “wishful thinking” and saying that some of the steps the Fed has taken have backfired.

Fri, 08/31/2012 - 14:44 | 2753476 Roy Bush
Roy Bush's picture

And now we need to ask ourselves..."are Obama or Romney going to change the answers to these questions?".

Make a real statement and DON'T VOTE.  None of the above.

Fri, 08/31/2012 - 15:07 | 2753524 MillionDollarBonus_
MillionDollarBonus_'s picture

This is a stark demonstration the tragedy of capitalism. The solutions to our problems will only be found by looking to the government for help. Solutions to global problems require collective action, not “personal responsibly” (another libertarian myth designed to protect the 1%). The first thing to do in my opinion is to go after offshore tax free corporate bank accounts. Nobody should be able to simply keep 100% of their property for themselves without paying a fair portion to the government. The government has not only the right, but also a moral duty to take a fair proportion of every person’s property, in order to spend it on virtuous causes of their choice.

Fri, 08/31/2012 - 15:18 | 2753556 SilverIsKing
SilverIsKing's picture

I agree....
....with absolutely nothing you ever have to say.

Fri, 08/31/2012 - 16:13 | 2753719 veyron
Fri, 08/31/2012 - 16:25 | 2753750 Michael
Michael's picture

Clint Eastwood's empty chair he used last night in his RNC speech, for anyone who has never been to acting school, is known as a Stage Prop or Theatrical Property.

Fri, 08/31/2012 - 16:36 | 2753775 knukles
knukles's picture

Oh gee...

I thought it was an allegorical illusion to the premise of the empty suit.

Fri, 08/31/2012 - 16:47 | 2753799 Michael
Michael's picture

All modern presidents are empty suits and puppets, that's a given.

Sat, 09/01/2012 - 00:01 | 2754545 AldousHuxley
AldousHuxley's picture

a liar who is also good looking you become an actor

a liar with good voice you join a radio station

a liar becomes a politician.

Sat, 09/01/2012 - 06:45 | 2754728 fiddy pence haf...
fiddy pence haff pound's picture

i think Luke Rudkowski said Washington is Hollywood for ugly people

Fri, 08/31/2012 - 16:55 | 2753820 Michael
Michael's picture

Clint was told he would have to talk about Obamacare, he thought they said Obama "Chair"

Too Funny!

Fri, 08/31/2012 - 16:02 | 2753693 Tinky
Tinky's picture

Ah, yes, and what cause could be more "virtuous" than another unnecessary, illegal, and ultimately disastrous war of choice?

Fri, 08/31/2012 - 16:14 | 2753720 dougngen
dougngen's picture

could it be sarc???

Fri, 08/31/2012 - 16:48 | 2753769 Michael
Michael's picture

Query MDB,

If I paid 90% in taxes on $100 billion I earned and got to keep $10 billion dollars, Would you come after the $10 billion I still have, in the future?

Fri, 08/31/2012 - 17:18 | 2753890 beachdude
beachdude's picture

Don't bother to red arrow MDB... just ignore the troll and it will slink off.

Fri, 08/31/2012 - 15:09 | 2753532 freet0pian
freet0pian's picture

Don't vote... Yeah, that'll show them! Any other clever ideas?

Why not just write RP in? Anything is better than to just lay down and die.


Well, I have to correct myself. Laying down in front of congress while on fire might wake somebody up.

Fri, 08/31/2012 - 15:19 | 2753558 francis_the_won...
francis_the_wonder_hamster's picture

I live in Cali, so my vote for Prez doesn't count.  Not only is the election almost always already decided before most of us here vote, but it is a moot point because my electoral vote is automatically going to the Dems every time (Reagan exception).  Why should I bother voting?

"Laying down while congress is on fire might wake somebody up".  Fixed it for you.

Fri, 08/31/2012 - 16:26 | 2753742 socalbeach
socalbeach's picture

If Romney loses and the Libertarian plus RP write-in vote is greater than his margin of defeat in the popular vote, maybe the Republicans will get the message.  Or maybe not, but it's worth a try.

Fri, 08/31/2012 - 17:06 | 2753841 chasman
chasman's picture

Worth a try you say....let me ask you a question....let say I told you, I have a very sharp knife and you have a choice....I can stick you in one eye or both????? what would you choose????? Now knowing in 4 more years that country has a 50-50 chance of total collapse because BO is re-elected or in 4 years the people finally wake up and vote for real change.....meaning neither a rep or dem...but heres the catch, part of that 50-50 is that there is no country left due to BO....I will take my chances and vote for the lessor of the two evils...or the poke in one eye

Fri, 08/31/2012 - 17:21 | 2753897 lakecity55
lakecity55's picture

Mittens may  give us a chance to put in a Libertarian in 4 years;

O-Man will just kill all of us.

Fuck O-man and his mooselam day of prayer to the meteor gods.

Fri, 08/31/2012 - 18:37 | 2753992 socalbeach
socalbeach's picture

I don't accept your analogy because it's not clear Etch-A-Sketch Romney will be any better than Obama, he could even end up being worse.  And I've never voted for a Dem in my life and think Obama is horrible. The Republicans under Bush Jr gave us the unpatriotic Patriot Act, sold the Iraq war on false pretenses, increased the size of gov't, etc.

Furthermore I live in a state that is going to Obama regardless of who I vote for.

Fri, 08/31/2012 - 21:23 | 2754368 Helix6
Helix6's picture

And you think Mittens will do anything differently from BO because...?

Oh, wait.  BO will smile to your face before stabbing you in the back.  Romney will just stab you in the chest.  Also, BO's paycheck is about four zeros short of where it needs to be to get into the iner circle.  Romney's is only about two zeros short.

Meet the new boss.  Same as the old boss.

Get a clue.  The country is owned.  It doesn't matter which empty suit wins.  They're both going to be working for the same masters.  It's just that Romney thinks dancing to their tune is the right thing to do and admits it, whereas Obama finds himself dancing to their tune also, although he won't admit it.

Fri, 08/31/2012 - 18:08 | 2753984 ZeroAvatar
ZeroAvatar's picture

Yeah, in the meantime obummer gets 4 more years.  Nice try, obummer pickle-smoker.

Fri, 08/31/2012 - 20:46 | 2754305 Michael
Michael's picture

The Jewtub MSM and their twisted other media are going to tell you what to think about the CE speech, and not discuss any of the topics and actual words he used in that speech.
All the words in Clint Eastwood's speech were truth. Tell me which words and phrases were lies?

Fri, 08/31/2012 - 17:10 | 2753862 Rearranging Dec...
Rearranging Deckchairs's picture

I also live in Cali. Since its a slamdunk for Obama my vote doesn't count too. But I am committed to showing up and either voting for a third party candidate like that Johnson fellow or writing in Ron Paul's name. I will not cast my vote for either of the  Obammneys but I want my vote to at least make a statement in protest. Someday in some database they'll see an independent white male professional middle class voter and the others that join me, and realize I didn't vote for the shite they were selling.

It will satisfy my conscience that I indeed voted without having to feel like I cast it for either of the neo feudal lords' proposed puppets.

In the alternative one could show up and just decline to vote for the presidential candidate but vote for the other ballot issues. You can do this in LA County you simply tell the person at the polling box that you left the contest blank intentionally. If you stay home and don't vote yes it makes a statement but not nearly as strong if you show up and don't cast a vote.


Fri, 08/31/2012 - 18:14 | 2753995 ZeroAvatar
ZeroAvatar's picture

That has GOT to be some of the most Liberal, backwards-thinking logic I have ever heard.  Show up to the polls, and leave the ballot blank? 


Boy, the obummer pickle-smoking trolls are out in force.



Fri, 08/31/2012 - 15:23 | 2753574 madcows
madcows's picture

Mickey Mouse, Robin Hood, Capt. Kangaroo. MY VOICE WILL BE HEARD!

Fri, 08/31/2012 - 16:28 | 2753758 Miffed Microbio...
Miffed Microbiologist's picture

"Well, I have to correct myself. Laying down in front of congress while on fire might wake somebody up."

Hmmm, not sure if that would wake them up. That would be pure entertainment for that bunch. Frankly I believe piles of burning bodies is their goal. If I were to ever find myself on the floor of congress I hope I have a few pounds of C4 on me with a detonator in hand. But,at this point, even that is no solution. There are plenty waiting in the wings to take their places. I wish there were some great reset button to push that doesn't involve something like global nuclear war.


Fri, 08/31/2012 - 15:16 | 2753552 rlouis
rlouis's picture

I'm torn between two write in candidates for the job:

Ron Paul

and a new candidate for the position (because I believe in voting) -  Fuck You

FY's positions on most issues is unclear but regarding the state of presidential politics, it is one I completely agree with.


Fri, 08/31/2012 - 15:28 | 2753587 madbuilder
madbuilder's picture

lets get 50 million people to write in NO CONFIDENCE this november

wont do shit, but wouldnt they have to report it?


Fri, 08/31/2012 - 16:28 | 2753755 Michael
Michael's picture


I'd rather do battle with an enemy I know rather then an enemy I don't know.

Fri, 08/31/2012 - 21:12 | 2754351 Helix6
Helix6's picture

I kinda like Ron Paul...

Fri, 08/31/2012 - 21:24 | 2754352 Helix6
Helix6's picture

Double post!  WTF???  Sorry!

Fri, 08/31/2012 - 14:48 | 2753487 madcows
madcows's picture

HaHa.  Columbia.  don't you know that the ivy league schools and their shill professors have no credibility.

Fri, 08/31/2012 - 15:00 | 2753503 Cult_of_Reason
Cult_of_Reason's picture

They have as much credibility as Princeton professor Paul Krugman.

BTW, Hilsenrath is getting increasingly desperate.


Fri, 08/31/2012 - 15:02 | 2753518 Pairadimes
Pairadimes's picture

I have a nine-year-old Boston Terrier with a disgusting habit of licking everything that has more credibility than Paul Krugman.

Fri, 08/31/2012 - 15:17 | 2753555 Cult_of_Reason
Cult_of_Reason's picture

Idiot Hilsenrath has changed the title of his morning article after the market started to ignore him and selling off.

You cannot make this stuff up.

Before: Bernanke Signals Readiness to Do More

After: Bernanke Leaves Little Doubt He's Ready to Act

Fri, 08/31/2012 - 17:07 | 2753845 PavewayIII
PavewayIII's picture

"...After: Bernanke Leaves Little Doubt He's Ready to Act..."


I'm going with #2 here, considering:

Black Hawk helicopters' war games over downtown Minneapolis

The Blackhawks arrived from the direction of the main airport and queued up as the video shows over the business district of downtown. 

WTF? Why conduct 'urban warfare' training in Minneapolis? This video from Wednesday evening probably answers the question:

Black Helicopters fly around Minneapolis Federal Reserve

The title is a bit misleading - they landed on the roof of the Minneapolis Federal Reserve. Does that 'urban warfare' operation look anything like an EXTRACTION to you? Nonsense... Why would anyone ever want to flee the Ninth District by helicopter? Maybe they're just picking up bags of FRNs. That's how they're distributed, right?  


Hilsenrath said Bernanke is ready to act - maybe this is 'Plan B'. 

Fri, 08/31/2012 - 15:01 | 2753514 Alexandre Stavisky
Alexandre Stavisky's picture

No Political solution exists for the global debt crisis.

No Monetary or Fiscal solution exists.

What Madman leader would dare suggest a 40 year (one full generation) plan to return the US and global economy to health?

Cut ALL gov't by 45% across the board.  NO EXCEPTIONS.

Institute a 15% consumption tax.  Eliminate all deductions to income tax and tax all incomes over poverty rate at 20%.

Close half of all foreign military bases.  Cut salaries and retirements of all military personnel minimum 50%.  RIF half.

Medicare and Medicaid scrapped.  Gov't authorizes no invasive non-emergency surgeries, seniors pay first 25% of all incurred costs.  Three visits per year maximum.

Lifetime medical allotment of $10,000.  Disease incurred by poor lifestyle choices?  Sorry, made your bed, sleep.

Social security.  Those who opt for gov't sponsored retirement must sign lien against all assets, never to be subordinated; gov't factors individual retirement based upon funds contributed and value of pledged assets.  Lien to be exercized upon death of recipient.  Efforts to hide or disperse assets prior to retirement cause forfeiture.

Assetless retirees have very modest safety net.  Small domicile provided (industrialized mass housing) and modest meals.  Extra income available by participation in private enterprised sponsored menial labour.

Those who opt out may use their own retirement plan.

Since GDP=C+I+G+X, this immediate contraction will crush all categories and GDP will shrink to about 1/2 of today's numbers.

No monetary dilution of currency would be allowed.  Preservation of earner's purchasing power would be sacrosanct.

Fiscal stimulus would be allowed only after minimum (inviolate) threshholds of debt payment were met. Unlikely.

Paydown of deficit of minimum 4% per annum, surpluses every year.  No deficit spending.  Perhaps domestic autarky.

IMPOSSIBLE.  Revolution or default would be preferable to everyman.  An entire generation sacrificed to remedying the dissolution not of their making.  AND IT WOULD TAKE AT LEAST 40 YEARS.


Second option:  Like MacArthur in Japan.  Seize all assets and redistribute.  Cancel all debts.  Destroy prior currency regime.  Institute new regime with strict metal backing to return confidence. Martial Jubilee.  Credit expanded only by one dollar capital, one dollar lending.  No fractionalizing.  Strict regulation and prosecutions.


Either way some mixture of the two will be forced upon the nations of the earth. Or disorderly default and disorderly reorganization like after Rome's fall.


Fri, 08/31/2012 - 15:32 | 2753607 madbuilder
madbuilder's picture

the truth sucks ass.  and you speaketh the truth

winter is coming

Fri, 08/31/2012 - 15:36 | 2753623 repete
repete's picture

much easier idea.

End the fed and return to a gold standard 

Make all banks mark to market

Take over enough insolvent bank infrastructure to provide government run (for now) basic banking services with employees paid at civil service rates.

Remove private banks ability to do fractional reserve lending

Allow the gov bank to lend freely and apply interest to national debt

Gov bank would also provide reasonable interest on savings

Allow all private banks to demonstrate their highly paid abilities while working without a taxpayer safety net.

Why should the benefit of fractional reserve lending go to just one segment of society?

Eventually morph the gov bank into some kind of private basic banking service but with the benefit of recieving interest on money you don't have going to the national debt.



Fri, 08/31/2012 - 18:46 | 2754011 Radical Marijuana
Radical Marijuana's picture

It is way too late to go backwards to old-fashioned guns and gold now.

There is only the runaway insanity of politics by other means, i.e., war.

What exists is a combined money/murder system.

The books are so extremely out of balance that only blood may work to balance those books. However, that also appears way too late to be sanely done. The American Money and Military are already like flying Unicorns and Dragons, whose sheer impossibility is the only thing still keeping them in the air. We have quadrillions of dollar units out in the global cyber-casino, backed up by players with an abundance of weapons of mass destruction. When one of those players finally upsets the table, there will be almost nothing left of that casino, after those players open fire upon each other. Indeed, the ONLY thing keeping the established systems going and growing is the unimaginable terror towards what will happen if their frauds finally collapse back to physical realities.

The ONLY theoretical solutions are radically different death controls, to sustain radically different debt controls, in a radically different combined money/murder system. However, since the established elites want to go forward by consolidating their insane hegemony, while their controlled opposition are reactionary revolutionaries, that want to go backwards to old-fashioned impossible ideals, their conflicts will eventually have to jump the rails, and the entire train of Neolithic civilization crash in unimaginably spectacular ways.  The REAL solutions will be dramatically different death controls, in one way or another. The only way to balance these books is with blood. Too bad that will surely be done in the most insane ways, instead of some of the theoretically possible better ways.

Fri, 08/31/2012 - 18:54 | 2754070 Alexandre Stavisky
Alexandre Stavisky's picture

foaming the runway? Or foaming at the mouth?

Sat, 09/01/2012 - 01:06 | 2754602 Dapper Dan
Dapper Dan's picture

Alex Stav, I can not begin to tell you how profound your cerbrated comment was.

Thank you.


Fri, 08/31/2012 - 15:16 | 2753551 francis_the_won...
francis_the_wonder_hamster's picture

Yikes!!  Woodford argues that the Fed hasn't been accomodative ENOUGH?  They haven't been firm enough in their committment to monetize the freakin universe?  You've got to be freakin kidding me!!!! 

Fri, 08/31/2012 - 14:46 | 2753474 Zero Govt
Zero Govt's picture

I'd like to see crone Benny with no clothes (metaphorically)

any chance of a bit of ZH sleuthing to reveal the private names of the stinky cartel that owns the Fed?

Fri, 08/31/2012 - 15:16 | 2753549 JR
JR's picture

Neethgie: Bernanke has fired every bullet he has got, hes now in a stand off, with the markets hiding behind a bullet riddled doorway shouting I HAVE MORE BULLETS DONT COME IN HERE..


Good ol’ Bernank. “Don’t come in here; I don’t have any more bullets left.  Don’t expect anything from me, I’m out of money. You know…here’s what’s happenin’… the savers are stealing us blind."

Yes sir. We need a common man like Obama to run this; he understands the national basketball league players. If you can trash talk basketball, the people can understand what you’re talking about. Bernanke should be President and Obama should be Fed chair!

Sarc aside, the market is just waiting around for the signal to print. Bernanke is a liar, a shyster, a bunco steerer,  bringing the Fed closer and closer to oblivion, to being wiped out.

In the meantime, he is destroying the economy.


Sat, 09/01/2012 - 00:25 | 2754573 Problem Is
Problem Is's picture

The Bernank is the Fed's Barry Soetoro...

A moronic empty suit Useful Idiot front man reading what is loaded into the Teleprompter for him by his owners and following orders...

Fri, 08/31/2012 - 14:33 | 2753445 IndicaTive
IndicaTive's picture

Now I personally, finally feel justified in saying FUCK YOU BEN BERNANKE!!

Fri, 08/31/2012 - 15:06 | 2753527 WALLST8MY8BALL
WALLST8MY8BALL's picture


Fri, 08/31/2012 - 15:35 | 2753616 Dalago
Dalago's picture

No lube.

Fri, 08/31/2012 - 14:34 | 2753447 Xibalba
Xibalba's picture

General Aladeen: Why are you guys so anti-dictators? Imagine if America was a dictatorship. You could let 1% of the people have all the nation's wealth. You could help your rich friends get richer by cutting their taxes. And bailing them out when they gamble and lose. You could ignore the needs of the poor for health care and education. Your media would appear free, but would secretly be controlled by one person and his family. You could wiretap phones. You could torture foreign prisoners. You could have rigged elections. You could lie about why you go to war. You could fill your prisons with one particular racial group, and no one would complain. You could use the media to scare the people into supporting policies that are against their interests.

Fri, 08/31/2012 - 14:36 | 2753450 Neethgie
Neethgie's picture

I seem to recall in oliver twist, fagan did his best to point out, Robin hood what a crook, gave away what he took.. followed by Robin hood was far too good, get out and pick a pocket or two.

Fri, 08/31/2012 - 14:37 | 2753452 XRAYD
XRAYD's picture

Plonius updated: Never a borrower but ALWAYS a lender be!

Fri, 08/31/2012 - 14:38 | 2753458 negative rates
negative rates's picture

Question one, PAY THE PIPER, then change the law, balance the budget, send crooks to the kahoots (inc psychiatrists) send silly willy to the funny farm, abolish the fed, drug test the congressmen, judges, councilor's, ect. And all will get better in the land of Bernanke's oz. 

Fri, 08/31/2012 - 14:40 | 2753461 JR
JR's picture

As the murmurs and lies of Tampa fade, one recalls the entertainment of conventions of yesteryear when a delegate spokesman would rise at roll call to declare: “The sovereign state of Kansas reports these delegates…” One always smiled at that sovereign reference knowing it was only theater. But how about reporting Romney’s victory from the sovereign state of America?

Turns out that would be theater as well, because if one wants to hear the true roll call of a sovereign, one needs to abandon the Tampa convention and listen to the voices of the real convention, the true convention: Jackson Hole. When the roll is called on sovereigns, Professor Benjamin Shalom Bernanke will give the vote totals: The private owners of the Federal Reserve, the winner; all others, zero.


Fri, 08/31/2012 - 14:41 | 2753464 fonzannoon
fonzannoon's picture

Bernanke seems to be taking a bunch of hits. His reputation is getting hurt. Maybe he just stops printing to appease the masses....what's the worst that could happen?

Sun, 09/02/2012 - 11:11 | 2756216 el Gallinazo
el Gallinazo's picture

Bernanke is just a replacable puppet.  His strings are pulled by the semi-invisible capstone of the pyramid as are Obama's or Romney's (should he win this farce they call an election).  When Bernanke has served his purpose, he will be replaced, just as was the Soviet Union when it was time for the EU to make its power grab consolidation into eastern Europe.  Directing strong emotional anger at these mid-level puppets such as Clinton, Bush, Obama, Greenspan, or Bernanke is exactly what the ruling Families want.  It just makes us stupider.  All the puppets are instantly replaceable by new puppets with no emotional track record.  The last POTUS who actually thought that the presidency had any independent authority was JFK.  Allen Dulles taught him otherwise in the millisecond before his dismantled brain ceased to function.

Fri, 08/31/2012 - 14:41 | 2753468 Gringo Viejo
Gringo Viejo's picture

Bitch, moan, Ron Paul was screwed!, "It's not fair!"...and life is passing you assholes by. Man up, make the best of the situation AS IT EXISTS. You could have been born in Beheadistan!

Fri, 08/31/2012 - 16:07 | 2753706 Gringo Viejo
Gringo Viejo's picture

14 snivelers thus far. You prove my point. Grow up ladies...........or.....close your eyes, click your heels together three times, and say....I want to go home....I want to go home...I want to go home..............

Fri, 08/31/2012 - 17:10 | 2753860 lakecity55
lakecity55's picture

O-man is bad news all the way.

I'm going with Mittens.

I wish it was Paul.

Fri, 08/31/2012 - 14:43 | 2753472 Essential Nexus
Essential Nexus's picture

Forgot the tax on the supposed appriciation of the value of your savings account.

Fri, 08/31/2012 - 15:19 | 2753559 madcows
madcows's picture

You don't have to pay taxes on interest less than $10.  So, unless you have $4,000+ in the account you don't have to worry.

That's awesome though.  $10 in interest, and they take $2.50 from you if you're in the 25% tax bracket.  "Oh, don't despair sir, you still have enough for a gallon of milk and a loaf of bread."

Fri, 08/31/2012 - 14:43 | 2753473 Seasmoke
Seasmoke's picture

so 137 million people let 15 million people abuse them daily........CHARGE !!!!!!!!!!!!!!!!!!!

Fri, 08/31/2012 - 18:28 | 2754023 ZeroAvatar
ZeroAvatar's picture

USA population +/- 310 million.  310,000,000 minus 152,000,000 (137 million + 15 million) leaves 158 million.  How many of THOSE are moochers?


In a way, I guess, ALL of them, 'cause they sure ain't contributing anything to the tax rolls. One Hundred Fifty Eight Million Moochers.

Sat, 09/01/2012 - 10:50 | 2754907 Elmer Fudd
Elmer Fudd's picture

"USA population +/- 310 million. 310,000,000 minus 152,000,000 (137 million + 15 million) leaves 158 million. How many of THOSE are moochers?"

So what do you call the % of the 152,000,000 whose income derives from working for the govt?

Fri, 08/31/2012 - 14:45 | 2753477 Cognitive Dissonance
Cognitive Dissonance's picture

But.....but.....but we MUST save the banks if we are to save ourselves..........right?

Fri, 08/31/2012 - 14:50 | 2753493 Zero Govt
Zero Govt's picture

yes that was the spin

the truth was found hidden away in Iceland sometime ago

Fri, 08/31/2012 - 15:14 | 2753540 Cognitive Dissonance
Cognitive Dissonance's picture

Iceland and the Arctic are melting. All will be revealed soon.

Fri, 08/31/2012 - 14:45 | 2753479 Renewable Life
Renewable Life's picture

On a related, but slightly off topic note:

WTF is everyone so upset about Clint Eastwoods stick last night??

Clint is EXACTLY who we thought he was, an independent dude, who lives in hollywood, who has a movie coming out this week, and who doesn't take orders from some snot nosed little campaign staffer about what he's gonna do on stage!! He's a fucking entertainer you clueless little Romney stooges!! You think he was gonna come out and read some drivel from a teleprompter?? This isnt fucking Mayberry we live in, its real world 2012! So the guy said he was going to vote for you this year, congratulations, he voted for Obama last time, he can vote for whoever the fuck he wants too, what's funny, is the Romney is sooooo clueless, he thought this meant Clint was going to pretend to be some fucking movie character for him!!!

Who's the fucking actor NOW Mitty????

Fri, 08/31/2012 - 14:48 | 2753488 fonzannoon
fonzannoon's picture

If Eastwood had real balls he would have endorsed RP right then and there. Then he would be his own man.

Fri, 08/31/2012 - 14:52 | 2753496 IndicaTive
IndicaTive's picture


Fri, 08/31/2012 - 14:55 | 2753498 Dr. Engali
Dr. Engali's picture

That would have been pretty damn cool. The craziness that would have generated would have shocked the whole establishment.

Fri, 08/31/2012 - 15:11 | 2753534 pods
pods's picture

Then he could have added:

"Whattaya fish heads staring at!?!"

Fri, 08/31/2012 - 16:14 | 2753721 marathonman
marathonman's picture

They would have generated a "technical difficulty" and cut the video feed.  Much like they did to the Georgia convention for announcing votes for Ron Paul.  The RNC/DNC is the mob.  The Fed is the boss.  We are the marks. 

Funny how your votes don't count.  Watching the grease man Boehner and the other RNC operatives override votes on the floor of the convention was just too sickening.  I feel like I'm in Germany in 1932 watching the Third Reich take over. 

Fri, 08/31/2012 - 15:22 | 2753567 Alex Kintner
Alex Kintner's picture

Clint's message was 'Obama failed, so fire him and let Mitt try'. Fair enuff. But how electing a known crook is gonna fix things is beyond me. Clint really didn't say much positive about Mitt. And he did say he hates politicians and lawyers.

I have major issues with O, but with Mitt it looks like the looting of the tax payers will get a lot worse.

No good options here.

After the Taibbi piece, Mittz looks like Shitz.

Fri, 08/31/2012 - 15:35 | 2753617 Alex Kintner
Alex Kintner's picture

For those who don't have time to read a long article, here is the money quote on how Rmoney operated at Bain...


This business model wasn't really "helping," of course – and it wasn't new. Fans of mob movies will recognize what's known as the "bust-out," in which a gangster takes over a restaurant or sporting goods store and then monetizes his investment by running up giant debts on the company's credit line. (Think Paulie buying all those cases of Cutty Sark in Goodfellas.) When the note comes due, the mobster simply torches the restaurant and collects the insurance money. Reduced to their most basic level, the leveraged buyouts engineered by Romney followed exactly the same business model. "It's the bust-out," one Wall Street trader says with a laugh. "That's all it is."

Now imagine Rmoney with total power over the US treasury and the SS Trust Fund. It will not end well.

Fri, 08/31/2012 - 16:26 | 2753751 marathonman
marathonman's picture

The looting of tax payers will get a lot worse under Mitt?  Have you been paying attention to the last four years?  The monetary base has exploded under Obama.  It's just that his Marxist business model has thrown such FEAR on the economy that monetary circulation has slowed to a crawl.  His DOJ has refused to prosecute blatant theft of customer accounts that magically ended up at JPMorgan.  Morgan Stanley is likely being sent out to the glue factory for butchering and customer accounts very likely could get looted.  What pray tell will Mr. Holder do about it?  Not a damn thing.  Tax payers are already being looted by Obama and Bernanke.  I'm not sure how the looting gets worse.

Fri, 08/31/2012 - 20:13 | 2754238 Papasmurf
Papasmurf's picture

The difference would be in who gets the looted money.  Either way, the looting will increase.

Fri, 08/31/2012 - 14:46 | 2753482 lemosbrasil
lemosbrasil's picture

Next Monday we will wake up with sound of crash..

Today, EUR X USD touched the long downtrendline at 1,263.

VIX is beautiful bullish movement..... monday.......

see here:

Fri, 08/31/2012 - 15:35 | 2753621 mkhs
mkhs's picture

Do you mean Labor day?


Sat, 09/01/2012 - 05:53 | 2754697 WTFx10
WTFx10's picture

Here is a tip. There are people on the planet who don't live in the USSA. Would you believe they don't even know our day off for the slaves holiday! Its true!


Fri, 08/31/2012 - 14:57 | 2753485 Dr. Engali
Dr. Engali's picture

Inflation adjusted yields of -2.25% ? I wish it was that good. Maybe with the numbers from the ministry of truth it is. But in the real world -6% inflation adjusted yields is more like it.

Fri, 08/31/2012 - 15:15 | 2753547 madcows
madcows's picture

Real inflation is much higher than 6.25%.

Try between 9% and 11%.

Sun, 09/16/2012 - 07:33 | 2800181 auric1234
auric1234's picture

How do you know? Is there any credible authority on this?


Fri, 08/31/2012 - 15:26 | 2753583 LawsofPhysics
LawsofPhysics's picture

Correct, NIRP has actually been here for quite a while.

Fri, 08/31/2012 - 14:48 | 2753490 caimen garou
caimen garou's picture

the bend us all over bernake has been running his pie hole about his magic tool box and that the fed will act if markets conditions warrent easing, while all this time easing has never stopped. bb is nothing but a word man.

Fri, 08/31/2012 - 14:52 | 2753495 jimod
jimod's picture

Looking forward, anticipating hyper inflation, why would I not want to load up on debt to acquire a real asset, land?

Isn't debt a hedge against inflation?

Is there some kind of battle between creditors (banks?) and debtors (government?) playing out behind the scenes that the creditors are pushing back on the string the federal reserve is pushing on, and making the creditors the ultimate winnners?

Is it just that it's silly to expect the creditors to collaborate in destroying the real value of their paper? Is it just that simple?

Plus one group of creditors, the big banks, playing without any rules or fairness to destroy competition, no more S&Ls, Credit Unions and small banks under regulatory attack....

Fri, 08/31/2012 - 15:00 | 2753512 Brazillionaire
Brazillionaire's picture

Sounds like a pretty good plan to me. Just keep those interest rates FIXED.

Fri, 08/31/2012 - 15:12 | 2753537 madcows
madcows's picture

Well, you probably need a mortgage to purchase that land.  Which, is a future debt you have to pay each month.  And, when you are out of a job, or inflation is smashing your budget, that debt is going to be hard to pay.  I'd be looking to free myself of all debts and obligations.

Fri, 08/31/2012 - 16:15 | 2753723 saveandsound
saveandsound's picture

In case of hyperinflation debt might easily break your neck in the early onset.

How do you want to pay off your loans if food and energy prices skyrocket? That is when your bank takes your house and your land.

Try to have house, land, gold, food, water and waepons and just very little debt. ;-)

Sounds actualy like move to australia - their housingbubble is about to burst, so house and land may come cheap.

Sun, 09/16/2012 - 07:34 | 2800183 auric1234
auric1234's picture

Is it just that it's silly to expect the creditors to collaborate in destroying the real value of their paper? Is it just that simple?


I'd say yes. It's a typical example of Prisoner's Dilemma.


Fri, 08/31/2012 - 14:57 | 2753506 JamesBond
JamesBond's picture

sometimes the needs of the few outweigh the needs of the many
suck it up


Fri, 08/31/2012 - 14:58 | 2753511 Brazillionaire
Brazillionaire's picture

Sad part is not one person in a hundred understands WTF is going on. And it's right there in front of them. Oh well, makes the shiny stuff cheaper for me (for now), I guess.

Fri, 08/31/2012 - 15:14 | 2753546 pods
pods's picture

For my part I try at times to make it 2 out of a hundred, but most just want to be a part of a team.  Red nor blue does not matter.

There is one sad fact I have learned in life:

People do not care about how much power the state has, only who it is directed against.


Fri, 08/31/2012 - 15:30 | 2753598 Brazillionaire
Brazillionaire's picture

People do not care about how much power the state has, only who it is directed against.

So true... and they don't understand THAT either. For my liberal friends, I wonder how great these new exectutive powers Obama has seized will be viewed when Romney uses them for something they don't like. Most people really can't see past the next election.

Fri, 08/31/2012 - 16:17 | 2753728 Colonel Klink
Colonel Klink's picture

I think that's being too generous.  More like .01%, just the opposite of the elite .01%.  And that's the way they'd prefer to keep it.

Action takes much more effort than inaction.  Most people are too busy with daily life just trying to make it, than realize what's going on in the world.  Much less taking any action to protect themselves financially.  Been working on my father for years and he's stuck in a congnitive dissonance extraordinaire.

Fri, 08/31/2012 - 15:04 | 2753520 ebworthen
ebworthen's picture


Fri, 08/31/2012 - 15:04 | 2753521 Hedgetard55
Hedgetard55's picture

May he rot in hell for eternity.

Fri, 08/31/2012 - 15:05 | 2753525 Pairadimes
Pairadimes's picture

Can we please get to the crash, already? To paraphrase Ron White, '...hit something hard. I don't want to limp away from this bitch'.

Fri, 08/31/2012 - 15:07 | 2753528 reader2010
reader2010's picture

When Bernan said back in 2002 he would drop money from choppers,  I was very pleased and thought money would be dropped to my driveway. Shit, I didn't know better back then it was only meant for very selected few buddies of his.

Fri, 08/31/2012 - 15:14 | 2753544 kalum
kalum's picture

He has ruined my life. May he RIH

Fri, 08/31/2012 - 15:30 | 2753590 JR
JR's picture

“The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost.” – Ben Bernanke 

"What he has done is load up his helicopters with trillions of dollars and circled above Wall Street… continuously dropping his load." – Jim Quinn, The Year of Catch 22 posted on ZH 01/02/2011

Bernanke keeps easing and it's not workng and, now, he’s worried about the reputation of the Fed. If he openingly QEases again and the economy continues to tank...well then, it's Good-Bye Ben and His Merry Band...

Fri, 08/31/2012 - 16:21 | 2753730 Colonel Klink
Colonel Klink's picture

Jim Quinn is somewhat correct.  Bernanke is certainly dropping a load on us!  Unfortunately for the 99% it's not cash.  Hey look!  It's raining too!

Fri, 08/31/2012 - 15:12 | 2753536 LawsofPhysics
LawsofPhysics's picture

That's it morons, squeeze the middle class until the economy is fucking dead.  Long mother fucking guillotines already.

Fri, 08/31/2012 - 15:21 | 2753563 madcows
madcows's picture

Guillotines don't work so well against hollowpoints.

Fri, 08/31/2012 - 15:24 | 2753577 LawsofPhysics
LawsofPhysics's picture

Hollowpoints don't take targets out at 200 yards either. Sorry, did you have a fucking point?

Fri, 08/31/2012 - 15:29 | 2753591 madcows
madcows's picture

Yeah, revolution is pretty tough when they are armed with machine guns and you have a guillotine.  Watch the video of the south african miners strike.  The miners charged, the cops opened fire.  It was over in 15 seconds.

That's my fucking point, stooge.

Fri, 08/31/2012 - 15:34 | 2753615 Brazillionaire
Brazillionaire's picture

See: Hali Salasi

Spears vs. Italian tanks. Not a happy ending.

Fri, 08/31/2012 - 15:52 | 2753668 pods
pods's picture

You might want to read up on 4th gen warfare.


Fri, 08/31/2012 - 21:23 | 2754370 msjimmied
msjimmied's picture

Oh shush! the way these tough hombres talk around these here parts, you know they are BRISTLING with armaments, the likes of which the duly elected tremble at the thought of. This ain't South Africa. We're not throwing stones at tanks or waiting around with pea shooters. The guillotine comes into play only after the 20 minute show trial, it's not our first line of defense. Once it goes down in earnest, I would say most of our Rambo's will put on The Mask, sprout every kind of firearms imaginable. At that point, all differences will be put aside for a nationwide paint-ball like party, except the rounds are real, and creativity among our people to defeat whatever the "authorities" put forward will shock and awe the world. 

Remember, first you got to talk smack before the buzzer even sounds for round 1. Who the hell taught YOU how to fight? 

Fri, 08/31/2012 - 16:22 | 2753735 Colonel Klink
Colonel Klink's picture

Agreed but I read a story out of Texas that they can from 165 yards.  Apparently civilians seem to have better aim than the NYPD.

Sun, 09/02/2012 - 10:37 | 2756183 el Gallinazo
el Gallinazo's picture

A steady diet of donuts leads to the shakes.

Fri, 08/31/2012 - 15:14 | 2753541 jt104
jt104's picture

While points 1-7 are well substantiated, point 8 is not explained (nice graphics tho). Similariliy, th rest of the article seems more like propaganda. It s not enough to rent. Please explain how is it that Ben and Co are stealing from us all ? Thank you.

Fri, 08/31/2012 - 15:20 | 2753562 pods
pods's picture

Those closest to the freshly printed credit money get to spend it before the inflationary effects are felt.

A private bank issues the public currency, and leds it out at interest.

That is how they are stealing from you.

Watch the video series "The Money Masters" until you want to explode with rage. Then you will see.


Fri, 08/31/2012 - 20:20 | 2754252 Papasmurf
Papasmurf's picture

The private bank doesn't lend money out, it uses the cash reserves to gamble on credit default swaps against economies they will cause to fail. The model of lending money at interest has been dead for a while.

Fri, 08/31/2012 - 15:23 | 2753569 LawsofPhysics
LawsofPhysics's picture

What's the interest you pay again on all the debt from printing your currency to bailout private corporations again?


Two things, first the constitution says very clearly that the treasury can coin our money, so why are taxpayers paying a private banking cartel interest to fucking do it?

Second, I did not vote to bailout anybody, so why the fuck am I paying interest on debt accumulated from doing that?!?!?!?

eventually I will simply say fuck you and use a different currency/system so that the value of my labor is no longer stolen by these corrupt fuckers.

That clear things up for you idiot?

Fri, 08/31/2012 - 15:18 | 2753554 indio007
indio007's picture


Romney loves the nanny state.

The Federal Bailout That Saved Mitt Romney

Government documents prove the candidate's mythology is just that



Read more:


Fri, 08/31/2012 - 15:44 | 2753647 JR
JR's picture

or this on August 29 (Question: why didn't they print before Tampa?)...

Greed and Debt: The True Story of Mitt Romney and Bain Capital by Matt Taibbi | Rolling Stone Cover Story 

 How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill

Read more:

Fri, 08/31/2012 - 15:19 | 2753561 Undecided
Undecided's picture

1.                               Lay off of Clint Eastwood, why dontcha! Talkin to an empty chair was how Cheney ruled the White House.

Fri, 08/31/2012 - 15:21 | 2753565 Undecided
Fri, 08/31/2012 - 15:26 | 2753578 Jack Burton
Jack Burton's picture

A very nicec take on the results of the Bernanke ZIRP and money printing machine. We need to look where the benefits of a ZIRP policy go. Well, they go to assest holders whose assets are juiced in value by an ocean of cheap money flooded into the financial system and markets.

It is clear that most of this goes to 10% or smaller minorty. You only need look at the income increases of the 1% from the time of the 2008 collapse. They have done quite well thank you. And their doing well has not been from inovation, hard work and coming up with new companies and products. No, it has come from holding assets in the markets that Bernanke has worked tirelessly to juice the value of.

Bankers claim to be due their high pay and bonuses because they do the hard work and make the important allocation of capital. When in fact, Bernanke with his free money for bankers policy, has created a no lose game for the bankers.

You could give a free billion dollar loan to a wino on skid row, all he would have to do is buy treasuries and reap a handsome income. So why do the elite bankers deserve their financial rewards?

Bernanke is a whore to the 1%. He sees to it that they make plenty of money at zero risk, while the American middle class lines up for Obama's food stamps and Obama's welfare.

Why did Obama keep Bernanke in his postion? Same reason Mr. Bush did, to reward the banks. Meanwhile our youth are still sucked into enlisting in the military as their only viable job opportunity and fighting in the imperial forces to control the Middle East.

Put the banks out in Taliban country with a six gun and let Taliban chase them down for sport. Or more likely the bankers would take over managing the dru trade for warlords and Taliban. They already launder all the money for the world's vast drug traffic , these guys will always find a way to make money from doing nothing of value to anyone.

Fri, 08/31/2012 - 15:25 | 2753584 TrustWho
TrustWho's picture

ZH-ers should put an all-court press on this topic. We need to add the insidious purchase power reduction that inflation will reap from the lower income classes dependent on work income to feed their family needs.

The Fed knows its actions will impact inflationary elements in an dis-inflation economic environmet at a minimum of 18 - 36 monthss from the implementation of an monetary expansionary policy. When Fed officials tell the public that their inflationary metric (choose any) is below their inflationary objective providing room to support any QE du jour policy is just lying to the American public.

People on this blog have a duty to make the main street media write on this subject. THERE IS NO FREE LUNCH! The muppets need to at least be exposed to the dangers

Fri, 08/31/2012 - 15:36 | 2753625 surf0766
surf0766's picture

The muppets do not care. They are incapable of understanding how they are getting used.

Fri, 08/31/2012 - 18:15 | 2754003 calgal
calgal's picture

yo quiero taco bell...

Sun, 09/02/2012 - 10:29 | 2756170 el Gallinazo
el Gallinazo's picture

Quiero comer los muppetes.

  - Ben

Fri, 08/31/2012 - 15:26 | 2753586 TrustWho
TrustWho's picture

ZH-ers should put an all-court press on this topic. We need to add the insidious purchase power reduction that inflation will reap from the lower income classes dependent on work income to feed their family needs.

The Fed knows its actions will impact inflationary elements in an dis-inflation economic environmet at a minimum of 18 - 36 monthss from the implementation of an monetary expansionary policy. When Fed officials tell the public that their inflationary metric (choose any) is below their inflationary objective providing room to support any QE du jour policy is just lying to the American public.

People on this blog have a duty to make the main street media write on this subject. THERE IS NO FREE LUNCH! The muppets need to at least be exposed to the dangers

Fri, 08/31/2012 - 15:32 | 2753604 TrustWho
TrustWho's picture

I should demonstrate more patience when saving; however the arrogance of the un-elected technocrats makes my blood boil. The should be viewed as the spineless pygmies they are.

Fri, 08/31/2012 - 15:46 | 2753653 khakuda
khakuda's picture

There should be more noise about the fact that oil goes up EVERY time Bernanke speaks and threatens QE, hurting the economy and lower income people the most

Fri, 08/31/2012 - 16:13 | 2753717 YesWeKahn
YesWeKahn's picture

"Helping the poors" has never been Bernanke's mandate. he is a puppet of the riches. Fuck Bernanke!

Fri, 08/31/2012 - 16:23 | 2753740 monopoly
monopoly's picture

Just beyond words. And so few know how they are getting ripped off. What a scam.

Fri, 08/31/2012 - 17:09 | 2753857 traderjoe
traderjoe's picture

3. What is the rate of interest the Fed charges banks for "free money"? (Answer: 0%)

Correction: banks don't need to borrow from the Fed to create money. They can create money themselves under fractional reserve banking. 

See the Chicago Fed paper Modern Monetary Mechanics. 

Fri, 08/31/2012 - 20:45 | 2754303 BlackholeDivestment
BlackholeDivestment's picture

If I could arrest them I would. 

If I could kill the enemy jailor I would. 

How can you have any pudding if you don't eat yer meat? 

Benny Benny and the 911 Jets...

Fri, 08/31/2012 - 21:54 | 2754408 diesheepledie
diesheepledie's picture

This is just reversion to the mean. A return to the natural normal state, where there are peasants, lords, dukes, earls, and kings. The peasants make up the 99% and the wealth is concentrated with the ruling elite. This is how man has been ruled since the dawn of civilization. This socialist fantasy of the 20th century is finally dying its well deserved death. Hopefully the next step is the end of this failed republican/democratic abortion of an experiment, and a return to monarchy. Monarchy works! Although we will need to develop royal bloodlines from scratch. Rockefellers? What's left of the House of Rothschild? Who will it be?

Sat, 09/01/2012 - 00:09 | 2754552 toomanyfakecons...
toomanyfakeconservatives's picture

A benevolent monarchy would be a vast improvement over the current shit-show, but big changes are on the way. Mankind is about to really move forward, out of debt-slavery, out of caste and stratified societies, out of mind prisons, and so on. The MASS ARRESTS are coming. Sure as the sun will cross the sky, they are coming...

Sat, 09/01/2012 - 00:09 | 2754553 toomanyfakecons...
toomanyfakeconservatives's picture

A benevolent monarchy would be a vast improvement over the current shit-show, but big changes are on the way. Mankind is about to really move forward, out of debt-slavery, out of caste and stratified societies, out of mind prisons, and so on. The MASS ARRESTS are coming. Sure as the sun will cross the sky, they are coming...

Tue, 09/04/2012 - 13:59 | 2761142 dadichris
dadichris's picture

this is textbook class warfare: oligarchs vs. the masses

only this time the masses are (former) upper-middle and middle class households.

revolution is at hand


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