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Posts tagged ‘Ben Bernanke’

Gold Slam is a Massive Wealth Transfer from Our Pockets to the Banks

By: Dr_Martenson

I  am very disappointed by, but not surprised at, the latest transfer of wealth to   the bankers from everyone else.  The most recent gold bear raid has vastly   enriched the bullion bankers, once again, at the expense of everyone trying to   protect their wealth from global central bank money printing.

The central plank of Bernanke‘s magic recovery plan has been to get everybody   back borrowing, spending, and “investing” in stocks, bonds, and other financial   assets.  But not equally so, as he has been instrumental in distorting the   landscape towards risk assets and away from safe harbors.

That’s why a 2-year loan to the U.S. government will only net you 0.22%, a   rate that is far below even the official rate of inflation.  In other words,   loan the U.S. government $10,000,000 and you will receive just $22,000 per year   for your efforts and lose wealth in the process because inflation reduced the   value of your $10,000,000 by $130,000 per year.  After the two years is up, you   are up $44,000 but out $260,000, for net loss of $216,000.

That wealth, or purchasing power, did not just vanish:  It was taken by the   process of inflation and transferred to someone else.  But to whom did it go?    There’s no easy answer for that, but the basic answer is that it went to those   closest to the printing press.  It went to the government itself, which spent   your $10,000,000 loan the instant you made it, and it went to the financiers who   play the leveraged game of money who happen to be closest to the Fed’s printing   press.

This almost completely explains why the gap between the rich and everyone   else is widening so rapidly, and why financiers now populate the top of every   Forbes 400 list.  There is no mystery, just a process of wealth transfer of   magnificent and historic proportions; one that has been repeated dozens of times   throughout history.

This Gold Slam Was By and For the Bullion Banks

A while back, I noted to Adam that the gold slams that were first detected   back in January were among the weakest I’d ever seen.  Back then I was seeing   the usual pattern of late-night, thin-market futures dumping, which I had seen   before in 2008 and 2011, two other periods when precious metals were slammed   hard………………………

full article at source: http://www.marketoracle.co.uk/Article39982.html


By Thomas Clarke

Your article on the manipulation of gold is excellent and is of course spot on as I am totally convinced that the markets are been manipulated by the large finance  houses with their massive pre market and after hours trades conducted by the super computers that can trade in millionths of a second.

To combat this I have been trading just one stock and I am always hedged. I would not be in the markets without this hedging tool and to-day was an excellent example of how this particular stock was battered down, no doubt by the very moneymen who own this company in the first place. It is a case of shake the tree and see what apples fall off before picking off the low lying fruit on the cheap !I am always surprised by the constant flow of stupid money, new money coming in to this same trap! Today if you are looking for guidance in earnings you will be disappointed as there is no truth to be found on any Bank balance sheet, you should try reading something from Hans Christian Andersen or the story of the wizard of OZ at least it’s more entertaining.

Don’t thrust anything the main media tells you in fact I have been doing quite well doing the exact opposite but as I cannot time the market I give myself enough time to become right and of course I’m always hedged so all I really need then is to have enough time and If I run out of time ? why I just roll the position with the profit I make on the winning side so some time in the future the position goes into reverse and I collect on the other side!

Bernanke Told Friends He Plans to Leave the Fed in 2014

Ben Bernanke, Vampire Chairman

Ben Bernanke, Vampire Chairman (Photo credit: DonkeyHotey)



No matter who wins the White House this fall, it appears the next administration  will be accepting resumes for the crucial job of chairman of the Federal  Reserve.

According to The New York Times, Fed chief Ben Bernanke has told close  friends he plans to step down when his term expires in early 2014 even if  President Obama wins re-election this fall.

An Obama defeat seemed very likely to end Bernanke’s time at the Fed as GOP  standard bearer Mitt Romney told  FOX Business over the summer that he won’t reappoint the former Princeton  University economist to another four-year term.

During a news conference last month, Bernanke declined to spell out his  personal plans for when his term ends in January 2014.

Bernanke was first appointed to the Fed’s top post by President George W.  Bush in 2006, a move that left one of the foremost experts in the Great  Depression navigating the central bank through the 2008 financial crisis.

Read more: http://www.foxbusiness.com/business-leaders/2012/10/23/bernanke-probably-wont-stand-for-third-term/#ixzz2A8mUt7zv

JPM Had A Blowout Quarter – What & Who They Blew Is the Question At Hand!

By Reggie Middleton

You know, I don’t even bother to go over banking statements anymore. They are so steeped in bullshit, quasi-fraudulent fallacy and muppetology, that I’m simply waiting for Bernanke to slip up and true market pricing to come to the fore before I jump back into the game. ZeroHedge comments on JPM’s earnings as follows JPM Beats On Loan Loss Reserve Release Despite Drop In Trading Revenues And NIM, Surge In Non-Performing Loans:

There is a lot of verbiage in the official JPM Q3 Earnings press release which directs to a bottom line number of $1.40, or $5.7 billion on expectations of $1.24, with revenue of $25.9 billion on expectations of $24.53 billion. The primary reason for the lack of disappointment: no major losses in Corporate from CIO, with corporate generating $221 million in Q3, up from a loss of $(1.777) billion in Q2. And then come the adjustments:  $900 million pretax benefit ($0.14 per share after-tax increase in earnings) from reduced mortgage loan loss reserves in Real Estate ………………………………..

full article at source:  http://boombustblog.com/blog/item/6193-jpm-had-a-blowout-quarter-what-they-blew-is-the-question-at-hand-though

Bernanke Bailed Out The Banks Through A Public LIE To His Fellow Countrymen

On or about September 12, 2012 Dr. Benjamin Bernanke, the Chairman of the US Federal Reserve, announced the 3rd round of Quantitative Easing (because the 1st two rounds worked out so well) under the auspices of attempting to reduce the unemployment rate by buying nearly a trillion dollars per year of MBS per year – ad infinitum!!! I posted the following article in response – Bernanke’s Lying Through His Teeth and Not A Single Pundit/Analyst/Banker Has Called Him On It!!! The article clearly articulated how and why the On September 16th, I took it upon myself to right the wrongs perpetrated by the mainstream media in not calling Dr. Bernanke and the US Fed’s commented actions for the bold faced lie that it was, and streamed my own reality TV financial show, directly in front of the NY Fed, quoting data pulled directly off of the St. Louis Fed’s website. For all of those who feel that there is no audience for the truth and REAL financial analysis, this short video received nearly 13,000 views and a 101:0 like/dislike ration in less than 48 hours with absolutely no promotion, production or advertising. It was simply…. the truth!!!man lied straight to the collective faces of MSM consuming

full article at reggies Blog here: http://boombustblog.com/blog/item/6186-exxxaclty-as-claimed-on-the-worlds-1st-financial-reality-tv-show-bernanke-bailed-out-the-banks-through-a-public-lie-to-his-fellow-countrymen



Let Central Banking Lose Its Franchise, Not Its Independence

At Jackson Hole, a growing fear for Fed independence … Increasing political encroachment on the Federal Reserve, particularly from the Republican Party, could threaten the central bank‘s hard-won independence and undermine confidence in the nearly 100-year old institution. That was the pervasive sentiment among economists gathered at the Fed’s annual monetary policy symposium in Jackson Hole, Wyoming. – Reuters

Dominant Social Theme: If we don’t have a central bank, what have we got?

Free-Market Analysis: Here at the Daily Bell, we have simple questions that we ask regularly about central banking: How much money is enough, and how do central bankers know it?

The answer is that central bankers DON’T know how much money is too much. Only the market can inform us of the volume and value of money.

The market can do this two ways: via the pricing of gold and silver and the pricing of competitive currencies.

These two money facilities, probably initiated together, can provide us with the market signals to let us know how much money needs to be in circulation.

The system we have now is one of monopoly fiat tender. Taxes are paid in monopoly paper money and gold and silver are not minted by the government and therefore are hard to place in circulation.

The system is stacked toward the use of paper ticker money printed

full article at source: http://www.thedailybell.com/4242/Let-Central-Banking-Lose-Its-Franchise-Not-Its-Independence

ECB Becoming Twin of Fed

By Frank Suess


“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.” − Daniel Webster, speech in the American Senate, 1833

Increasingly, Mario Draghi, the European Central Bank President, is showing his true colors. He is clearly on the road to becoming Europe´s clone of Ben Bernanke. That said, Draghi is pushing hard against Germany´s (Merkel´s) resistance of running full-speed down the Keynesian road of monetary inflation.

In this context, our regular Mountain Vision contributor, Fredrik Boe-Hanssen

full article at source:http://www.thedailybell.com/4232/Frank-Suess-ECB-Becoming-Twin-of-Fed

The Madness of Market Euphoria

Official portrait of Federal Reserve Chairman ...

Official portrait of Federal Reserve Chairman Ben Bernanke. (Photo credit: Wikipedia)

Best day of 2012 for Dow industrials and S&P 500 … U.S. stocks surged Wednesday, with the Dow industrials and S&P 500 both tallying their best day this year, on increasing optimism that central bankers would move to bolster the economy. “It appears the market is under the belief that Uncle Ben and his band of merry makers are going to be coming to the rescue,” Bob Pavlik, chief market strategist at Banyan Partners, said of Federal Reserve Chairman Ben Bernanke and other Federal Open Market Committee members. The Dow Jones Industrial Average DJIA +1.05%  climbed 286.84 points, or 2.4%, to 12,414.79. The S&P 500 Index SPX +0.99%  advanced 29.63 points, or 2.3%, to 1,315.13. The Nasdaq Composite COMP +0.82%  added 66.61 points, or 2.4%, to 2,844.72. – MarketWatch

Dominant Social Theme: Happy Days Are Here Again.

Free-Market Analysis: Or are they? Europe is failing, China just cut interest rates and US markets moved up hard on a hope and a prayer.

The hopeful prayer was that Ben Bernanke would cut interest rates – or that he intends to. Why this would cause the Dow to climb some 300 points is mostly a commentary on what markets, US markets especially, have become in the 21st century.

full article at source:  http://www.thedailybell.com/3971/The-Madness-of-Market-Euphoria

Stable Currency llusion

Here is an excellent article sent in to day on so called stable currency

By Jim Willie

The Jackson Hole Conference was a dud. To the astute student observer, something happened never seen before. The US central bank chief admitted failure, if only people could properly interpret and translate his words of helplessness and disappointment. A more apt description was that USFed Chairman Bernanke used the forum to announce on stage that the central bank failed and is powerless to react to the current lapse into recession. Many watchers no longer believe that a Quantitative Easing chapter #3 will be announced. Surely it will come sooner or  later. Watch the USTreasury auctions for the best clue. The QE2 program was about prevention of auction failure, not economic stimulus. A quick review of monetary policy and its effect is horrifying for its utter complete failure;

Full article at source here:http://www.financialsense.com/contributors/jim-willie/2011/08/31/illusion-of-stable-currency-vortex

That Deal Buffett and BAC


Is it all it’s cracked up to be ?

By RickAckerman

Buffett must have gotten something from Obama. Why else would he have
announced a $40,000-a-plate fund-raiser for the President before the ink had
dried on the B of A deal? Pretty unseemly, really. As ‘C.C.’ noted
in the Rick’s Picks forum
, the “Robin Hood of the downtrodden” has cozied up
to the second wealthiest man in America. So what might they have talked about?
The “housing problem” for sure. It supposedly will be one of the President’s key
talking points in the jobs speech he’s slated to give when his endless summer
actually ends after Labor Day. We expect the speech to mark Obama’s outward
transformation from elitist to populist. As such, we can expect to hear about a
plan that will purport to save homeowners rather than mortgage lenders, allowing
the former to refinance loans at low rates regardless of whether their homes are

full article here at source:http://www.zerohedge.com/contributed/prepare-be-forgiven-ye-mortgage-sinners

Banking Elites Stole $1.2 Trillion Thanks to the FED

DB Briefs: Banking Elites Stole $1.2 Trillion Thanks to the FED / Is Ben Bernanke Insane? / Biden Tells China “You Are Safe”

Tuesday, August 23, 2011 – by Staff Report

Wall Street Aristocracy Got $1.2 Trillion from the FED

Fed Chairman Ben S. Bernanke‘s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. … according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress. “These are all whopping numbers,” said Robert Litan, a former Justice Department official who in the 1990s served on a commission probing the causes of the savings and loan crisis. “You’re talking about the aristocracy of American finance going down the tubes without the federal money.” – Bloomberg

full story at source:http://www.thedailybell.com/2835/DB-Briefs-Banking-Elites-Stole-12-Trillion-Thanks-to-the-FED-Is-Ben-Bernanke-Insane-Biden-Tells-China-You-Are-Safe

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