Ben Bernake, as this blog ws saing even as the GOP was looking to him as our SAVIOR in 2008 (as the GOP will AGAIN if they somehow win the next election with NO principles at alll, is the Worst Failure in the History of World Finance. "Bailout Ben", as he is affectionately (lol) known, is also one of trhe worst LIEARS who ever lived. He is in a class with Bill Clinton over parsing words. Thus, he denies "printing money" at the Federal Reserve--mainly, as far as I can tell no the bais that he and the Fed are not PHYUSICALLY down there operating printing presses. Ben, you arfe one of the worst LIARS ever to be Fed Chairman, along with being the Worst Failure in the History of World Finance. Lest you forget--I haven't-- Bernanke was appointed in early 2f006--at about the same time a Democratic Congress came to power--and has PRESIDED over the WORST economic downturn since the Great Depression, AND over the WORST RECOVERY since the Great Depressioin.
Doubt me (about "Bailout Ben" being a LIAR)? Never do that. Oh, today's news also proved that our Liar-in-Chief and his minioins--like tax cheat Tim Geitner--are liars as well. Bernanke went before Congress and DENIED taht the Fed would do anyth;ing" to help "bail out' Europe. Obama and Geitner have said, when they were not saying things indicating they WOYULD hepll bail out Europe, that Europe had to solve its own proobems. These have all been transparent LIES. The Fed is, in fact, helpiing to BAIL OUT Europe--helping the ECB to PRINT MONEY just like Bernanke did over here.
A Fed governor went on CNBC today and explained how "Bailout Ben' is doing it: BAILING OUT EURPOPEAN BANKS. You know those "credit-default swaps"? Well, the Fed has entered into some kind of fancy SWAP with the ECB (Europerean Central Bank) to LAUNDER MONEY. In other words, the Fed is--by deception--actually LOANING MONEY to the ECB to BAIL OUT European banks. Needless to say, "Bailout Ben" did not explain that to Congress, and the Obama Administratin is conceealing their involvement in the "bailout" of Europe as well.
The other "news" today is that the ECB now has an increased "balance sheet" of 3.3 TRILLION dollars. That means that teh ECB is right there PRINING MONEY, as the economic fascists on Wall Street have been beggng them to do. Wall Street is now BAILOUT CENTRAL. And the main GOP contenders for Resident have ALL indicated that they are fine with the kind of bailouts that Wall Steret wants when they say the "system is in danger (as they say NOW). Indeed, one of the economic fascists went on CNBC this morning an downplayed the idea that there is anyting "conerning" about the ECB looking like it is following the path of the Weimar Republic. As he said, this is what "Wall sTreet" has been DEMANDING for the ECB to do: to PRINT MONEY just like "Bailout Ben", inorder not jut to bail ouut EUROPER, but to AGAIN bailo out our BAnKS and Wall Street itself. It is another LIE to say that those bailouts ever ceased. The Fed has been on a continuing mission to bail out Wall STreet and the big banks, and this is just an extensin of that mission to EUROPE. The bailouts have never stopped. They have just been (badly, but the media is cooperating) CONCEALED. That is what th eFed is now doing with its BAILUT of Europe.
The Weimar (sp? not totally sure) was the German government whose collapse led to Hitler. It is fammoujs for tring to PRINT MONEY to "save" the economy, only to cause the COLLAPSE of both the economy and the country. Rick Santelli, the BEST of teh CNBC economic fascists (to the point that I probably would not call him an economic fasicit at all, unlike th erest of CNBC) said on CNBC today that we were not yet at the point of the Weimar Republic, but that we needed to "watch" that we don't go down that road. "Rick, I like you, an dI hate to break it to you (and myabe you know already), but by the time it is OBVIOUIS that we are headed down the road of teh Weimar Republic, it is TOO LATE." Thus, people say that there is no evidence of HYPERINFLATION (the thing that brought down the Weimar Republic). Uh-hyh. There IS a "stealth inflation" gong on out there, as oil is at about $100 a barrel in a WEAK ECONOMY (not to mention FOOD). But it is true that there is no current evidence of HYPERinflation. So what? When you see evidence of HYPERinflation, doom will be upon us. NOTHING then can be don (as,, maybe, noting can be done even now to avert the collapse that this house of cards is making inevitable).
This is not even the most disturbing thing. What Rick Santellie was saying (whether he actually believes it or not) is that our main "hope' now is that mere MEN wil be PERFECT in the way they manage this PRINTING OF MONEY , bailouts and all of the rest, so that we can avoid DISASTEWR. That is why the FREE MARKET system works best., It does not rely upon FALLIBLE MEN for it to work. Think of how bad off we are if we are relying upon Ben Bernanke, and the centeral bankers and governments of the world, to be PERFECT in the way they "mange" this crisis by CENTRAL PLANNING from the top. We are putting the very existence of western civilizaiton in the hands of FALIBLE men, even though history tells us that MERE MEN simly are not capable of RUNNING the eocnomy and/or financial system, by CENTRAL PLANINING. I have mentioned the Soviet Union "five-year plans", which never wokred. Now we have our "ten-year plans", AND Ben Bernanke (whose main "achievement" is presiding over the WORSST DOWNTURN and the WORST RECOVERY since the Great Depression). If you don't understand that we are in real trouble here, then you are not paying attention .
And the economic fascists on CNBC and Wall sTreet think that all Bernanke has to do is wave a magmic wand, print money (along with the ECB and all other central bankers following his "successful"--lol--example), and we will b e fine. ...............................................Sorry. I was CRYING agiaain, or was it laughing? I can't tell the difference anymore.
Wjhat I know for sure is that Bernake is a LIAR, and that Wall STreet is "all in" (appropriate for a gambling casino) on this idea that "bailouts" can always "save them". Economic fascism, in case you have forgotten, is that PRE-HITLER philosophy that Big Government and Big Business (read "Wall Street" as well as Big Business) should be PARNERS to RUN the economy and financial system from the top down. I feel like crying again, as I have ever since 2008 (really long before that-- aybe since Ronald Reeagan left office, with a brief respite during the real "GRIDLOCK" years of Gingrich and Clinton).
P.S. No proofreading or spell checking (bad eyesight). Am I OUT of the stock market, by the way? Nope. I am plaing it like the casion it is: SELLING into rallies and BUYING into (large) declines. this is a DANGEROUS game, since I believe a final collapse is coming. But it is the game of "musical chairs' that you MUST play if you are gong to make any money in today's stock market (SICK, as this bog has shown you) ,.The market will bounce up and down before the final collapse. Furrther, what can ou do about the final collapse? Mainly hope you are DEAD before then, because things figure to be REALLY BAD (worse the more "bailouts" that "Bainlout Ben" and the rest do). So there is not any "winning" strategy here. Gold? Don't be silly. FOOD or OIL would make more sense.. Gold is just a YELLOW METAL. It's reputation as "money" is really an anachronism from times gone by . Sure, yu can make money onb the PSYCHOLOGY of gold, but if you think gold will be a "successful" investment if our economy COLLPASES, then you have another think coming. You are better off with a FARM. Am I toopessimistc? It is possible. I have told you I am naturally a SKEPTIC and a PESSIMIST. Why do you think I am a religious agnostic? But I don't see any GOOD signs out there. Even if there were things we can still do to stop a collapse, who do you see out there with the WILL to do them? I don't see anybody either, and definitely not anybody who can LEAD this country back to the "Promised Land". The best we can do is have sOME peole advocting PRINCIPLES with which to PICK UP THE PIECEDS (like Regan did after Jimmy Carter). Present GOP candidates do not fit that bill.