Sunday, December 5, 2010

Ben Bernanke on 60 Minutes… Plus Overtime Interview

I hesitate to give the central banksters air time to get their propaganda out, but it is important to keep tabs on their shenanigans. Their lies put on film, they will only come back to destroy their credibility later, what little of it they have left.

Bernanke has been nothing but wrong, and wrong again. His latest lip flapping will also be proven wrong, well, at least half of it will be – the part about him probably needing to do even more QE than announced… that part is a rare glimpse of the truth:

Bernanke Says Further U.S. Monetary Stimulus Possible

Dec. 5 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said U.S. unemployment may take five years to fall to a normal level and that Fed purchases of Treasury securities beyond the $600 billion announced last month are possible.

“At the rate we’re going, it could be four, five years before we are back to a more normal unemployment rate” of about 5 percent to 6 percent, Bernanke said according to a transcript of an interview airing today on CBS Corp.’s “60 Minutes” program. The purchase of more bonds than planned is “certainly possible,” said Bernanke, 56. “It depends on the efficacy of the program” and the outlook for inflation and the economy.
Most of the following is an attempt to convince you that he's got it all under control. He wouldn't be doing this interview if he did...

Sorry, this interview simply makes me angry... PEOPLE OF AMERICA DO NOT BE CONNED! The "Fed" isn't going to go after the bad actors, THEY ARE THE BAD ACTORS! Watch their actions and look through their meaningless words!

Note the scare tactics to convince you not to revolt at the trillions he’s shoveling mainly into the banks. At some point this levitation will have to end, or our current version of the dollar will end – period. Yet another LIE again is that they are not “printing” money. Oh yes they most certainly are, and no, he certainly cannot raise interest rates anytime he wants with an economy that is completely saturated in their debt – doing so is possible with little or no debt, but not when the entire system is saturated.

The markets are completely dependent upon larger and larger doses – the math is exponential. Employment will not ever return to “normal” as long as the economy is saturated with PRIVATE banker “Fed” DEBT. The more debt they pump, the higher unemployment will go. However, the private banks currently OWN the equity markets. The following chart shows the “Feds” current holdings of U.S. Treasuries versus the S&P 500 index – this chart from ZeroHedge says it all – the market is false, it is trumped up by their money printing:

His printing is destroying confidence and is causing the money he’s printing to leave this country and go elsewhere – that is why you don’t see new production in this country, you see it elsewhere. There are consequences for all actions, you cannot wish nor print your debts away, that is complete fantasy, as phony as the central bank’s balance sheets.