Bernanke Blames the Blogs

In trying to explain why the incredibly expensive and blatantly corrupt bailouts & stimulus have failed to create jobs or inspire confidence, Bernanke has pulled out the old tired defense of blaming the critics. Except he’s taking it to the 20th century and singling out blogs and bloggers for “identifying … crises.”

Apparently, having people able to speak their mind and find faults in the system is a big problem for the way this guy thinks the economy is supposed to work.

This certainly wins my first annual “Blame someone else” award.

On the up side, he seems to have come to the conclusion that high finance should be treated like a utility, especially if we’re going to constantly be there to bail them out & regulate them like they can never fail.

Money is an Illusion, so why Pretend?

Bernanke is practically fessing up to the biggest fraud of all time: the fraud of modern money. These colorful pieces of paper aren’t backed by any specific goods or services, and their daily value fluctuates as the financial gatekeepers arbitrarily decide to inflate and contract the available supplies of cash. There really is no limit to the amount of money we can create in a virtually instant period of time, so why keep pretending that there could ever possibly be a shortage in the banking system?

So, this is the tortured logic that leads us to Bernanke’s conclusion: eliminate banking reserves outright.

The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system.

Since the banks can head straight to the Federal Reserve for cheap money any time they need it, and since the system is blatantly rigged to provide them profits in the long run, there really is no need for a financial panic! We can just print more money! Heck, even if we ran out of paper and ink we could still transfer digital credits into the bank’s account and that would be just as valuable as those greenbacks you worked so hard for.

So the next time you’re sitting at work and staring at the clock, as yourself why any of us should have to keep bank reserves to pay off our bills and debts – its all just imaginary money, right?

Bernanke Running out of Support

A lot of people (rightfully) blame the Federal Reserve and its member banks for causing and exacerbating the still unfolding financial crisis, and as a symbol of the Fed Bernanke has come under increasing fire from the grass roots, then media, and now from members of Congress themselves.

In a stunning revelation, it has been announced that Bernanke may not have the number of votes required to confirm his re-nomination by Obama.

Many liberals had blasted Obama for his decision to appoint Bernanke for a second term, and his party members in Congress are taking heed of this lesson in the wake of the unexpected Massachusetts Senate race.

The question then – if not Bernanke, who?

Bernanke Says Recession Over!

Meanwhile, there are still no jobs available and the value of your dollars have just begun a brand new fall off one of the steepest cliffs seen yet.

Indeed, the recession is over – and the depression is now starting to kick in!