Bernanke's first ever press speech (video)

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budsmoker87

New Member
[video=youtube;c1YLPYix0kM]http://www.youtube.com/watch?v=c1YLPYix0kM[/video]


after his speech, silver shot up $3 in 3 hours

then the dollar dropped 2 points...only three more points and we've hit an all-time low



listen to him talk about "rising commodity prices due to emerging markets, among other factors, is causing inflation to rise"...HOW ABOUT THE OTHER-WAY AROUND BENNY BOY????

how about "the fed's policies of buying 70% of US treasury bonds & securities around the world, the FED maintaining interest rates at 0.5-0.75%" is causing inflation?

OH NO, ben, it'll NEVER be YOUR fault... deny blame & throw it elsewhere...


FUCK IS THE USA WAITING FOR? BURN THIS MOTHERFUCKER AT A STAKE


*discuss*
 
mame

mame

Well-Known Member
budsmoker87 said:
after his speech, silver shot up $3 in 3 hours

then the dollar dropped 2 points...only three more points and we've hit an all-time low



listen to him talk about "rising commodity prices due to emerging markets, among other factors, is causing inflation to rise"...HOW ABOUT THE OTHER-WAY AROUND BENNY BOY????

how about "the fed's policies of buying 70% of US treasury bonds & securities around the world, the FED maintaining interest rates at 0.5-0.75%" is causing inflation?

OH NO, ben, it'll NEVER be YOUR fault... deny blame & throw it elsewhere...


FUCK IS THE USA WAITING FOR? BURN THIS MOTHERFUCKER AT A STAKE


*discuss*
Click to expand...
It's clear you have no idea what he was talking about. Sorry, there's just no way to put it nicely.
 
mame

mame

Well-Known Member
I'm about to go to lunch, but I have plenty to offer afterwards.

Me and NoDrama have actually kind of already started the discussion in the thread titled "Austerity is Failing Greece and Ireland", page 3. I'll get my notes together and be back in ~45 minutes.

edit: to be fair, NoDrama seems to agree with you... But I'll more fully present my case later.
 
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NoDrama

Well-Known Member
When he says "Emerging markets " He means CHINA!!!! China will be #1 economic power in the world in 2-4 years. They are going to sell $2 trillion in Foreign Reserves ( US Dollar$), which means the USA economy will need to be ready for another $2 trillion to dilute all those dollars that we already have sloshing around out there. Why are they selling their reserves? They no longer need to spend dollars to buy oil since they have come to agreements with Brazil, Russia, and Iran to trade in their own currencies. The end of Dollar Bill Hegemony is near folks, hope you prepare yourselves.

"Transitory prices" Is Fed speak for just wait til you see how high the price is tomorrow. Once they jack it up real real high then they bring it back down so its only 20-50% higher than where it started, but its lower than 70% so everyone is happy.

When have you seen prices go down in your lifetime? I remember when Gasoline cost 2 bits ( that's a quarter) and candy bars cost a nickle. haven't seen those prices EVER AGAIN!! Prices are not going back to where they were, EVER!!
 
I

ilkhan

Well-Known Member
NoDrama is correct.
Keynsianism=Fail.
When priced in our old silver coins like the 1964 silver dime Gas is at about 10 cents right now.
That is why we need competing currencies.
Have the treasury begin coining and distributing silver coins agian.
You want to make money from a depresion dump the dollar buy commodities.
Silver is set to skyrocket, mark my words, not even JPmorgan chase with their silver manipulations will be able to stifle silver much longer.
 
OregonMeds

OregonMeds

Well-Known Member
Everyone else dropping the dollar as their standard is no suprise, but what next? I can't tell from news sources even outside the propaganda news what the truth is. Are we with Russia and China in this NWO plan, are they play fighting for the public like a WWF wrestling show, or what's the actual deal? One minute I see china saying they hate us hate us (twice in a row) and refused to loan us a dime, and I see Russia moved a huge ship to the polar ice cap and is setting up a base there with runways, and the next minute I see video's of chinese and russian ships "visiting" in San Diego harbor recently.

I'm working my pee brain overtime lately trying to get to the truth but it's so obscured it's hard to tell the actual dates many things happened, from the date things were posted to youtube or what's true and what's propaganda.

[youtube]uvtkohL7wWk[/youtube]

While we're at it, how about the rest of what's going on... Earthquakes, tornado's, japan, scalar weapons, massive space race atm with india launching sat killers and buying more weapons atm than any other country on the planet... It's all related but in what way I can't tell.

I wish I had a bullshit detector.
 
beardo

beardo

Well-Known Member
OregonMeds said:
Everyone else dropping the dollar as their standard is no suprise, but what next? I can't tell from news sources even outside the propaganda news what the truth is. Are we with Russia and China in this NWO plan, are they play fighting for the public like a WWF wrestling show, or what's the actual deal? One minute I see china saying they hate us hate us (twice in a row) and refused to loan us a dime, and I see Russia moved a huge ship to the polar ice cap and is setting up a base there with runways, and the next minute I see video's of chinese and russian ships "visiting" in San Diego harbor recently.

I'm working my pee brain overtime lately trying to get to the truth but it's so obscured it's hard to tell the actual dates many things happened, from the date things were posted to youtube or what's true and what's propaganda.

[youtube]uvtkohL7wWk[/youtube]

While we're at it, how about the rest of what's going on... Earthquakes, tornado's, japan, scalar weapons, massive space race atm with india launching sat killers and buying more weapons atm than any other country on the planet... It's all related but in what way I can't tell.

I wish I had a bullshit detector.
Click to expand...
Yeah it's the NWO and the govt plays like WWF for us. we are controlled by rich people and banks and corperations and foreign governments we merged with the communists and the weather is being controlled.
 
mame

mame

Well-Known Member
ilkhan said:
NoDrama is correct.
Keynsianism=Fail.
When priced in our old silver coins like the 1964 silver dime Gas is at about 10 cents right now.
That is why we need competing currencies.
Have the treasury begin coining and distributing silver coins agian.
You want to make money from a depresion dump the dollar buy commodities.
Silver is set to skyrocket, mark my words, not even JPmorgan chase with their silver manipulations will be able to stifle silver much longer.
Click to expand...
Okay, if Keynesianism fails so much then why is it that many Keynesian/Monetarist policies have shown effective in other countries in similar situations in the past but the alternative policy in our situation, Austerity, is failing the UK, Greece, Ireland and Portugal? How can you explain that? Unless you can show me a school of thought that boasts anywhere near the success as (new)Keynesianism then what credibility does your statement have?
 
beardo

beardo

Well-Known Member
I heard their printing tons of money to buy...Bonds or treasuries or something
I know he siad no more quanitive easing but I heard somewhere their printing lots of money.
 
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NoDrama

Well-Known Member
beardo said:
Anyone know the status of this?
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Quantitative easing #2 does not end until June, they are on average Purchasing $4 Billion in US Long term Treasuries PER DAY. IE they are loaning us our own money at interest at the rate of 4 billion a day, with an attached interest of .6% of that sum.
 
Charlie Ventura

Charlie Ventura

Active Member
mame said:
Okay, if Keynesianism fails so much then why is it that many Keynesian/Monetarist policies have shown effective in other countries in similar situations in the past but the alternative policy in our situation, Austerity, is failing the UK, Greece, Ireland and Portugal? How can you explain that? Unless you can show me a school of thought that boasts anywhere near the success as (new)Keynesianism then what credibility does your statement have?[/QUOT

Read Mises, Hayek, Rand, Rothbard and Friedman. Therein lies the answer.

And by the way, in spite of the now revealed birth certificate, we have a Keynesian residing in the White House. How is that working out for the economy? :)
Click to expand...
 
Charlie Ventura

Charlie Ventura

Active Member
NoDrama said:
August 15, 1971

"We're all Keynesians now" -Richard Nixon
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Right. And Nixon was exactly that. Do you remember when Nixon placed wage and price controls on the entire nation in an attempt to curb the out-of-control inflation? Yep, it was all the way up to 4%. Talk about an oppressor!
 
mame

mame

Well-Known Member
Read Mises, Hayek, Rand, Rothbard and Friedman. Therein lies the answer.
Click to expand...

Do you have any historical examples of their ideas in action? Preferably in the face of recessionary periods? The failure of European Austerity measures is fresh in my mind, so I'd advise against barking up that tree. I'll be waiting but I wont be holding my breath... I've asked for real evidence several dozen times on these boards and all I get is "Freidman, Hayek," etc.. Where is the evidence?

And by the way, in spite of the now revealed birth certificate, we have a Keynesian residing in the White House. How is that working out for the economy?
Click to expand...
Doesn't matter what Obama thinks, he's only one peice of the puzzle. He'd need to have a cooperative congress to get anything done for one(divided government is fun!). The fed matters more right now anyway and Bernanke has already decided to ignore half of his mandate(full employment!), for now at least.
 
Charlie Ventura

Charlie Ventura

Active Member
Mame:The answers you seek are in the books and authors I recommended to you. Take the time to read them. If you want a little tidbit, take a look at what Chile has done to privatize their social security system. Or, you might want to look at some of the post-Soviet states and their monetary systems. Georgia would be a good place to start. Or, from a more historical standpoint, you might want to read our own Constitution, then reflect upon how successfully it was implemented in this country prior to 1900 when the Progressives took a foothold and changed our tax and monetary system to reflect that of Germany in those times.
 
mame

mame

Well-Known Member
Only about half of Chile's workforce actually contributes to that SS plan btw, so the poorest people - who often need help the most - actually fall short of contributions(because they didn't make enough during their lifetime, or made their income "in the Informal sector") to even get the minimum pension of $140 per month.

The only strength of the system seems to be the high rate of return; While the U.S. system keeps pace with inflation, the Chilean system can post gains as high as 10% achieved by the pension funds largely through the purchase of stocks and government bonds.
 
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