Bernake - I'm a Damned Liar

[gates]

http://market-ticker.org/akcs-www?post=171176

[gates]

Best response in the thread so far:

"He's lying Karl.

So if you believe that then you must also believe that he's "totally in the know" as to the crimes he's perpetrating.

So stop making excuses for him saying "he's not aware" of the situation as you've mentioned in an earlier thread today.

This is Bernanke (and the banks) against the taxpayers and the middle class of the USA.

Admit it.

It's us against them.

Banksters against USA."




Now - BILL - If ALL politicians are in these bankers pockets what recourse is left... now do you SEE what I have been talking about?

It's not a reckless call for violence - it's a demoralizing recognition that the ELECTORATE no longer has a representative gov't - and what the CONSTITUTION says our remedies are - I sincerely hope this new batch of critters makes good on rooting this cancer out - not hopeful.

[wyatt earp]

On ABC World News they smoothly slipped in a piece about the Fed and the $600 billion QE2. The anchor actually said "The Fed said this is a good thing as it will make lending easier and help us spend...unbelievable !!!

Thieves and liars all of them.

http://etfdailynews.com/blog/wp-content/uploads/2010/11/QE2.jpg

[2barearms]

It's going to send gold and silver thru the roof. they're saying it's going
to debase the dollar 20%.

[TheJokker]

why is this a surprise? for nearly three years i have been predicting the devaluation of the dollar as an inevitable response to the undervalued chinese yuan. if it doesn't happen we will all be speaking chinese in 50 years. will it be painful? yes... (but more painful in 20-50 years if we do not)

why the bernake tap dance? because the europeans and the chinese will be mad at the turmoil this will cause them. the euro's will "have" to follow suit and their economy is already tittering on the brink and this will add to the bubble popping in china CHS aluded to in the recent article gates posted.

http://www.cnbc.com/id/39957072

To a certain extent, that is what the Treasury Department and Fed "in combination" want, said Gross, who runs the $252 billion Total Return Fund and oversees more than $1.1 trillion as co-chief investment officer.

"The fundamental problem here is that our labor and developed economy labor relative to developing economy labor is so mismatched—China can do it so much more cheaply," he said.

But Gross said this is a byproduct of a globalized economy.

"It is a globalized economy of our own doing for the past 20-30 years. We encouraged all of this, but it is coming back to haunt us. To the extent that Chinese labor, Vietnamese labor, Brazilian labor, Mexican labor, wherever it is coming from that labor is outcompeting us and holding down our economy," he said.

Gross added: "One of the ways to get even, so to speak, or to get the balance, is to debase your currency faster than anybody else can. It's a shock because the dollar is the reserve currency. But to the extent that that is a necessary condition for rebalancing the global economy over time, then that is where we are headed."

"Other countries and citizens are willing to work for less and willing to work harder—and we forgot the magic formula somewhere along the way," Gross said.



it's like the fischer queen's sacrifice in the "game of the century". look at the commitment and sacrifice of the american people during ww2. this is our "turn" to make a historic readjustment and rebuild the american economy in a manner that will increase our global competitiveness in future decades.

[DABTL]

Originally posted by gates
Best response in the thread so far:

"He's lying Karl.

So if you believe that then you must also believe that he's "totally in the know" as to the crimes he's perpetrating.

So stop making excuses for him saying "he's not aware" of the situation as you've mentioned in an earlier thread today.

This is Bernanke (and the banks) against the taxpayers and the middle class of the USA.

Admit it.

It's us against them.

Banksters against USA."




Now - BILL - If ALL politicians are in these bankers pockets what recourse is left... now do you SEE what I have been talking about?

It's not a reckless call for violence - it's a demoralizing recognition that the ELECTORATE no longer has a representative gov't - and what the CONSTITUTION says our remedies are - I sincerely hope this new batch of critters makes good on rooting this cancer out - not hopeful.

I think you ascribe bad motives to Bernanke when he is doing what he believes will help in the absence of other government action. But, he does not have the ability to influence the needs of main street, only the financial market, which then might influence the needs of main street.

Do I think it will work? For whom? The move appears to be one of the ideas that lowering interest rates will stimulate the economy.

Personally, I think it is a move to encourage spending by the public. Reduce the return on savings to the point where risk in Wall Street looks real good to the dumb money.

But, you will chime in that it is just awful and shows how everyone is corrupt. I think it may simply show that government has been reduced in power to benefit only the wealthy. If the only thing government can do is help the wealthy, then the trickle down nonsense makes sense.

But, it is just another step in the debacle.

In short it is a shower of money on the rich, the banksters, Wall Street and the smart money.

[prosecond]

The dollar may be devalued but you must watch out for all other countries devaluing their curency faster. It will be a race to the bottom. I still think the dollar will be the best position. Flight to safety you know.????

[Bawana jim]

Dollar gets devalued by 20% and people will demand higher wages. Inflation will be 20% to start with. The full shaft will be there sometime after. So how are you guys going to protect yourselves against inflation?

jim

[gates]

Jim - thats exactly the problem - workers have ZERO leverage when there are 6 people standing in line for your job if you demand higher wages - margin compression is what is coming - higher input costs that cannot be passed on to consumers - it's already happening.

But to answer your question - gold and silver and productive farmland would be the obvious answers.

[Bawana jim]

Well if things go up 20% how many more jobs will be lost? To me this is just the beginning to wipe out our money. Gold has gone up about fifty dollars today and silver is over 25 an ounce. Euro went to 142 and oil is going up by the dollar.

I think it is time to get my last items before the storm hits.

jim

[gates]

"I think it is time to get my last items before the storm hits."

I think you are right!

read the new post I am putting up "the End Game" KD walks you through it step by step

[DABTL]

The stock market went up today. Smart money pumping the pile to attract the dumb money.

[gates]

yeah - and if you were fully invested today you made exactly nothing in real terms - it all went out the door of dollar devaluation - people will figure this out pretty quickly.

[W.E.G.]

http://i227.photobucket.com/albums/dd7/rkba2da/trivia/obamaballin.gif

http://i227.photobucket.com/albums/dd7/rkba2da/trivia/BidenPrintingMoney.jpg

[TheOtherChris]

Originally posted by Bawana jim
..Gold has gone up about fifty dollars today and silver is over 25 an ounce.

It is over $26/oz this afternoon.
Up $1.86 for the day as I type. that's more than 7.5% in a day. :uhoh:

[gates]

heh - and people look at that and say DAMN! I just made X - well... no you fukin DIDN'T! the purchasing power of the $ got assraped. You stayed EVEN in real buying power - which exactly why you hold PMs in this environment.

[cpd109]

Originally posted by gates
heh - and people look at that and say DAMN! I just made X - well... no you fukin DIDN'T! the purchasing power of the $ got assraped. You stayed EVEN in real buying power - which exactly why you hold PMs in this environment.

Exactly spot on. People still look at gold as costing x dollars, but it's the other way around. The dollar has actually LOST value to the same extent.

[cpd109]

Bank holiday. Don't know how much I beleive in it, but the stuff about Barry leaving the country with 65 aircraft and 34 warships is totally unprecidented.

http://stevequayle.com/News.alert/10_Money/101104.bank.holiday.Steve.html

Here is something on a flase flag attack. It ties in with the dimicrapic butt kicking and the bank holiday suggested above. How much do I beleive. Don't know. But it makes me think. And as long as I keep my tin foil hat on, they can't penetrate my brain with their brain wave machines.

http://www.youtube.com/watch?v=ca6q7NZLrn0

[DABTL]

Originally posted by cpd109
Bank holiday. Don't know how much I beleive in it, but the stuff about Barry leaving the country with 65 aircraft and 34 warships is totally unprecidented.

http://stevequayle.com/News.alert/10_Money/101104.bank.holiday.Steve.html

Here is something on a flase flag attack.

http://www.youtube.com/watch?v=ca6q7NZLrn0

If it is on the internet it is true.:rofl: :rofl: :rofl:

Michelle Bachmann said so.:)

[cpd109]

Originally posted by DABTL


If it is on the internet it is true.:rofl: :rofl: :rofl:

Michelle Bachmann said so.:)

Taipipe, you haven't had time to look or watch wither of them. Kiss my a$$.

[DABTL]

Originally posted by cpd109


Taipipe, you haven't had time to look or watch wither of them. Kiss my a$$.

Slow thinkers need a lot of time. You must type too fast for your thinker.

And, it comes as no surprise that a slow thinker such as yourself would be a believer in the Illuminati nonsense.:biggrin: You gotta watch them joos, you know.

[cpd109]

Originally posted by DABTL


Slow thinkers need a lot of time. You must type too fast for your thinker.

And, it comes as no surprise that a slow thinker such as yourself would be a believer in the Illuminati nonsense.:biggrin: You gotta watch them joos, you know.

Yep, it's true- I have a have a case of happy fingers. But you have a case of terminally dumb a$$. I can slow down and type w/o errors. You can not help but be a dumb a$$. You demonstrate that with every single post you make, except for 3. You talked several years ago about Danish ammo, and your trucks. That's it, and a pretty poor showing for all the crap you've slung.
You are UTTERLY worthless except as a useful idiot to Barry and his gang. I even question whther you are actually a human being. You don't show any signs of it, except for your re-enactments. Go do that for a while. Oh that's right, you have to stay indoors since it's getting cold outside now and they didn't have much winter time combat in VN.
And if you're going to be anti-semitic, you may not be any better than your mooselimb bretheren.
Again, kiss my a$$.

[alant]

Lemme get this right.

The Chinese Yuan is tied to the dollar. If the value of the dollar goes down 20% then doesn't the value of the Yuan do the exact same? The price of goods coming from China stays the same. What the dollar or Yuan will buy (oil, gold, copper, etc.) has gone down 20% - input costs increased 20% - have I got that right? Except labor - neither US nor Chinese workers will get a pay raise, at least not right away.

What we are supposedly in for:
a. According to Denninger (also Glenn Beck and our own Gates) by pumping out $600b more (QE2) the Fed is going to push us over the tipping point into the fiscal abyss that Bush (and now Obama) have created.

b. We will enter into an irreversible spiral of currency debasement, a contest by major currencies to underbid each other for a quickly declining world market share. The US dollar (and probably all paper money on the planet) will soon be worthless. Only PMs and a few other commodities will be worth anything.

c. We will soon be living in a barter economy bereft of jobs. Modern civilization will fall apart, short of the 2nd coming of Christ those who survive the fall are doomed to living in a new dark age. Billions will die because they are not prepared/capable of living such an existence and/or the collapse of civilization will cause mass starvation. There will likely be some military action, attempts to seize oil fields/productive farm lands/other resources or settle long standing grudges. Warlords will predominate rather than central governments. (We must assume this doesn't go nuclear, not in a big way, or human life ceases altogether.)

a leads to b which leads inescapably to c There will be no deflationary spiral like the Great Depression, this will be Weimar on steroids followed by a Fall of Rome/Mad Max scenario - most places will at best resemble Somalia and Afghanistan. Expected outcome is an early industrial or pre-industrial era civilization populated by the hardy human stock capable of surviving this great calamity.

Does this capture the basics? Have I missed something or misinterpreted the several threads where this scenario is being spun?

Or maybe God is hitting the rewind button?

Note: this is just a recap, not my personally held beliefs.

[gates]

pretty close

However, there is a line of thought, looking at this from a different angle, and it goes like this:

What Bernake is REALLY doing is attempting to force Chinas hand on their peg - your opening Para - because the Chinese refuse to de peg it themselves.

But we get to suffer as he takes this thesis for a spin:-)

[DABTL]

Originally posted by cpd109


Yep, it's true- I have a have a case of happy fingers. But you have a case of terminally dumb a$$. I can slow down and type w/o errors. You can not help but be a dumb a$$. You demonstrate that with every single post you make, except for 3. You talked several years ago about Danish ammo, and your trucks. That's it, and a pretty poor showing for all the crap you've slung.
You are UTTERLY worthless except as a useful idiot to Barry and his gang. I even question whther you are actually a human being. You don't show any signs of it, except for your re-enactments. Go do that for a while. Oh that's right, you have to stay indoors since it's getting cold outside now and they didn't have much winter time combat in VN.
And if you're going to be anti-semitic, you may not be any better than your mooselimb bretheren.
Again, kiss my a$$.

Now, you have convinced me. You post nonsense about the Illuminati, an anti-semitic canard by the last Czar that was later a NAZI truth and think I am being anti-semitic.

OK, so now I just have to wonder how truly dumb you are as opposed to a slow thinker. Really, really, dumb is now the estimate.

[alant]

But you're saying Bernake will be unable to conduct a controlled burn, other factors will take over and regardless of his intentions we end up with a California wildfire and a -> b -> c, right?

Or maybe we luck out and the Chinese blink, they unpeg - in which case we might dodge the bullet but have taken a terrible risk and done serious damage to our own economy.

BB is the Sorcerer's Apprentice, playing with powers he does not fully understand.


Note: Again, just recaping.

[gates]

I'm saying he's playing with fire and NO ONE knows what the odds are that he pulls it off - what KD is writing about are the consequences of Bernake failing.

And yes, based on what I have seen him do or not do to date, I believe he will fail as do A LOT of people who are a hell of alot smarter and better versed than I am.

[alant]

Originally posted by gates
I'm saying he's playing with fire and NO ONE knows what the odds are that he pulls it off - what KD is writing about are the consequences of Bernake failing.

And yes, based on what I have seen him do or not do to date, I believe he will fail as do A LOT of people who are a hell of alot smarter and better versed than I am.

Okay, what's the alternative solution?

[gates]

Clear the market - audit the Fed - audit the banks - prosecute the people that allowed and committed the fraud.

Listen - the sooner we take our medicine the sooner we can start rebuilding - make no mistake - we WILL have to take our medicine the only question is HOW and HOW MUCH.

[alant]

Originally posted by gates
Clear the market - audit the Fed - audit the banks - prosecute the people that allowed and committed the fraud.

Listen - the sooner we take our medicine the sooner we can start rebuilding - make no mistake - we WILL have to take our medicine the only question is HOW and HOW MUCH.

That's mighty strong medicine (chemo/radiation cancer treatment might be a better analogy) that could result in the same out of control wildfire. I don't see a guarantee the patient will survive with either plan.

Not sure how your solution solves the currency manipulation issue (it's not just the Chinese, they are only the biggest). Our industries are playing with one hand tied behind their backs.

Until our competitors have the same safety, environmental and labor standards - atleast something approaching the same - free trade is not fair trade. I've never thought our "service economy" had anything on an industrial economy. Most services jobs create little of lasting value.

[gates]

Well... we HAVE cancer - how we treat it IS whats on the table - good analogy - if we DONT treat it we die.

[DABTL]

Originally posted by gates
Well... we HAVE cancer - how we treat it IS whats on the table - good analogy - if we DONT treat it we die.

And who is going to do the treatment? You? Me? What treatment can be made when all regulation is damned by your candidates?

[gates]

Bill - you KNOW what the answer to that is - and NO I am not going to lead the charge - Denninger probably has something close to the answer but Americans are too damn LAZY and too DUMBED DOWN and too ME ME ME to do what he is suggesting -so we're going to be left with a shellshocked public when, one day, they wake up and see $10/gal gas and $5 loaves of bread and they realize thay cannot afford lifes basics - THEN we have a shitstorm.