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Ben Bernanke

Professor Bill Black tells it like it is ... was

Submitted by Roanman on Fri, 03/23/2012 - 17:27

 

The following is Professor William Black's testimony to the House Financial Services Committee's hearing on the failure of Lehman Brothers in 2008.

Professor Black's qualifications which are about as long as your right arm, can be found here.

 

 

The following is an interview with Professor Black on the street in New York City during the Occupy Wall Street happening this past fall wherein he discusses having put over 1000 banksters in jail during the 1980's Savings and Loan meltdown, and the cause (not causes) of our present issues .....

FRAUD.

Very good stuff, you should watch it.

 

 

If you like Professor Black, here's his interview with Bill Moyers who is one of the only mainstream journalist paying any attention to the pervasive corruption that is Wall Street and Washington DC.

 

Your government at work for the banks

Submitted by Roanman on Wed, 11/30/2011 - 07:15

 

From Bloomberg News who had to go to court with the Fed and a consortium of banks in order to obtain the following story under the Freedom of Information Act.

Click on the photo below of Goldman Sachs' personal bag boys for the entire story.

Way super double highly recommended ... READ IT ... you need to understand this stuff.

 

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.

Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.

A fresh narrative of the financial crisis of 2007 to 2009 emerges from 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.

 

What really irritates me about all of this is the fact that I could have gone and got that MBA, maybe a JD, moved to New York and become a thief, but noooooo.

 

April fools story

Submitted by Roanman on Tue, 04/05/2011 - 06:41

 

And the joke is on us.

Click the photo to link up with this Bloomberg story.

 

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak
By Bradley Keoun and Craig Torres - Apr 1, 2011 1:53 PM ET

 

 

U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

 

It Really Is Monopoly Money

Submitted by Roanman on Tue, 02/15/2011 - 16:31

 

We've been trying to understand "The Fed"

To be perfectly honest about it, we still don't even know what we don't even know.

But as usual, this has not prevented us from having an opinion.

 

Adjusted Monetary Base is that part of the money supply that is most liquid, that which is either in the hands of the public (in circulation) or in the commercial bank deposits held within the central banks reserves.

The first chart demonstrates the growth of the Adjusted Monetary Base since 1918 or so, 5 years after the creation of The Federal Reserve Bank.

America's third central bank by the way.

More on that latter.

 

 

 The second chart represents the purchasing power of One ($1.00) Dollar since the inception of The Federal Reserve Bank in 1913.

Click the chart below for some different looks at the same issue.

 

 

The following is taken directly from the Rules of Monopoly.

Don't believe me?  Just click.

 

 

 

It really is time to lose the Fed.

 

The Fed, The Ben Bernanke and The Goldman Sachs

Submitted by Roanman on Mon, 11/22/2010 - 17:48

 

I haven't skulked Zero Hedge for a couple of weeks or more.

Big mistake.

For about the first 90 seconds here, you're gonna wish you could throttle either or both of these little bears.

Hang in there.

By the end you'll know for damn sure who needs strangling.

Trust me on this one.

 

 

Reading on a Saturday Morning

Submitted by Roanman on Sat, 04/10/2010 - 10:07

 

Richard Maybury publishes The Early Warning Report and Chaosistan.com

Friends have forwarded the occasional copy or link for a while now.

Membership went on sale recently so I signed up.

As yet, I have no opinion.

The quote below links to the signup page. 

“What Obama and his toadies have repeatedly demonstrated themselves to be is fascist.

Fascism is the most simple-minded of all political philosophies, it boils down to just 16 words:

Power holders should do whatever appears necessary, no exceptions, no limits, and no definition of necessary…

We have no way to know what Obama, Bernanke, Geithner or any of the other kingpins will think is necessary, so there is no way to know what they will do to the economy or investment markets.

They are all loose cannons…

Fascism has no plan, it is 100% pragmatic, a fire fighting mentality, not an agenda mentality.

Its only answer to any problem is, more government...

Let me emphasize, the government’s top people are not constrained by ideology…the comment by the Director of National Intelligence, that US officials have the right to kill — without a trial — American citizens they suspect of terrorism.

If these people will do that, they will do anything. They are already across the final line.

 

“We should expect them to inflate the money supply to whatever extent they believe necessary, no limits.

This is why I believe that before the Great Monetary Calamity ends, somewhere between three and ten years from now, we will see gold at $10,000, silver at $100 and platinum at $10,000...

Remember, however, that I am not saying the precious metals will rise this much, I’m saying the dollar will fall this much.”

 Richard Maybury, 04-10

 

 

To quote Ben Bernanke 11/21/02

Submitted by Roanman on Wed, 02/10/2010 - 07:18

 

"Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply.

But 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 essentially no cost.

By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.

We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation." 

 

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