He wasn't the man who deregulated the housing market, Bush and Allen Greenspan did. It's easy to point fingers after the fact. You can't debate things aren't better now, even if the growth isn't from the private sector, but if he didn't make these decision of government intervention, our banks wouldn't gone bankrupt like a line of dominos. . .
Lets get the facts strait. Glass Steagall Act was repealed in 1999 under a Clinton and the Republican Congress. That is who deregulated everything. And yes Greenspan was there but there has been alot more money printed since Bernanke has chaired the fed.
As far as recovery goes ever herd of the ressesion of 1921 where there was little gov. intervention and a quick rebound? How about the lost decade in Japan or the "Great"(only great in US) Depression 1929 where there was gov. intervention?
We printed money because we had none left, IMAGIANE IF OUR BANKS WENT BENKRUPT. We still have no money . . . our country is now trillions in debt, but at least we have a chance for America's private market to rebound, otherwise the word depression would have a brand new meaning.
I can agree that there need to be intervention to help correct the years of gov. market monipulation but it could have been handled better.
some of the companys should have been left to fail.
Pumping money into the FDIC would have protected Main St. and the artificaly inflated prices could have fell to a reasonable level. That's just ONE way it could have been done. Now we will be stuck with stagflation for 10 years or more with the route taken.
Yes, something need to be done to correct all the medeling the Fed has been doing for years but what they gave us was not the only way to handle it. And most of the ecconomists that saw it comming would agree.
Bernake is an economic terrorist. The federal reserve is the Hub of economic terrorism in our country. The people who are in government think this country belongs to them, but it belongs to us everybody. We need to take away the powers that these idiots have taken from us,a nd given to themselves.
Bernanki has robbed our country.... this whole thing was a set up to bring on the Amero.... we must support HR1207... this bill will help us to see what the FED is doing with our money.
Did you hear how they don't want to reveal where the trillion bailout went because it is a "Trade Secret"? The money came from the citizens, the citizens should get to know where the money is yet they don't want you to know.
Bernanke will get his story straight in the next few months. TG was not a good actor, but I have faith that Bernanke can carry out this fleecing until Obama commission's a MAson to chisel his face on Mt. Rushmore.
Bernanke will be the fall guy when the Fed is exposed. The bank regulators (Fed) are more concerned with devaluing the dollar than creating "jobs".
Obama will enter a war one year prior to the next election. Another term for Obama will bankrupt America and turn it into a socialist state. This is exactly what the Fed and our socialists have been waiting for.
The Fed needs to SHUT IT DOORS! We can't trust these goons any longer. Look what they've done to the whole world already! Look have many wars they've financed. Look what they've done to our Constitution! We cannot allow them to profit off of us. They are deceivers & want to reign over us. I support Ron Paul. He needs to be our President in 2012. Gold & silver are real money. Not worthless I owe you pieces of paper which become devalued through interest, excessive printing, inflation & deflation.
The FED created the housing bubble (along with a lot of corrupt bankers)...what's the housing bubble? Housing inflation! That's because its motivated by greed and not the general welfare of the people. The Fed is one of the biggest private institutions in the world, so if you against corporatism, then you must necessarily be against the Fed. Bernanke has done nothing but promote rampant inflation. And its going to become intolerable real soon.
Well, the crisis is triggered and mastered by the Fed itself...by blowing the bubble...which I suspect is still doing the same..reblowing the housing bubble..and who gets rich...
well you know..the stalwarts of Wall Street, the people who were responsible for setting up Fed in 1913
good question, another good question is, as a private bank, how are they above oversight from the govt? That is why they need to pass a bill for this audit of the federal reserve. Look it up, it is not a govt agency.
I am not a Obama Zombie. I may have voted for Obama but I am not naive. I have researched his cabinet and him. He is as owned by corporate america as Bush was. Fact is the Kenya birth certificate that you guys say proves he is not american is a forgery. Fact is he was born in Hawaii. Impeachment is for a president in his second term not first. The ballot box is for a president in his first term.
Hell no he didnt save the world. We would not have the problems we are having if we didnt have a PRIVATE bank adjusting our economy to try and FIX it. They advertise these chairman as saviors to our economy, when all they do is put it in favor of business. Dem or Rep., you should not want this private bank running and ruining our economy.
The government should issue their own currency and credit. End the Fed. Let the treasury dept take over the essential roles. Like the constitution states.
The reason I'm not going to re-post or otherwise send this story to my friends is because of the guy saying near the end that what we need is more "democratization" of monetary policy, and that the actions in Illinois were positive. All the people in Illinois did was throw more gasoline on the fire. Saddling up with debt for "community projects" will do nothing to heal the underlying economic imbalances that were CREATED by excessive lending.
Bernanke is nothing more than a treasonous criminal of the first order. He should be beheaded on the steps of the Capitol along with his fellow criminals like Geitner and Paulson.
I really can't stand the Larouchies, They pester the hell out of you and are belligerent towards you if you have a difference of opinion. Completely glossing over the fact that Larouche had spent time in prison because of identity fraud.
check your history books and show me when democracy was better.
wuast.wais I see your point and agree. I do get a feeling that things might be OK for 5 or 6 years before a repeat, especially if savings rate turns negative.
China has the US squeezed with it's dollar peg, it seems like China would rather industrialize rapidly than promote domestic and global stability.
Actual democracy has really never occurred in human history. Small bits of it has and parts of the world at certain times has made steps towards democracy (the U.S. in the 60's, latin america today, etc). But when society got closer to real democracy, it got better, hence the reason we have great things like social security, child labor laws, public schools, human rights, etc.
isn't that what happened, deregulation of the banks? of course there was a housing bubble and over speculation in crude oil ... also there has never been a "free market" there have always been governments involved. in fact free market cannot work without police enforcing property laws. gov't provides the infrastructure such as roads as well, protects business with the military etc
Osiris, There was no deregulation, that is the biggest misconception. There was actually, OVER regulation that caused this.
How? In a nutshell:
The Fed cut the rates ( in 01 ) to 1% causing banks to take in and give out loans ( Adjustable Rates ) along with the removal of the Glass Steigl Act ( Under Clinton ) it was snowballing.
What you mention for the Free Market to work is what is Constitutional for the most part.
laws have everything to do w/ the market! if there was no law against stealing who'd open a store? then there are laws that protect consumers from things such as fraud or false advertising. these things give consumers confidence in products and causes more consuming. & lastly, businesses don't want free markets, they want as many gov't handouts as they can get, contracts, tariffs on foreign goods etc etc. whether its int he constitution has nothing to do w/ if a law is regulation or not.
also, many regulations give consumers better information and make the market more "efficient" with things like nutrition labels and reports on auto safety or MPG. I wish we had regulation forcing food labels to tell you when something was genetically altered. currently they don't have to tell you, i think that is wrong and prevents a more efficient market
What's to say the businesses wouldn't have done it themselves? People praise the FDA for example but how many things have they prevented or delayed on something being released due to regulations ( times taken to approve something ) and so forth.
As for Auto Safety, that goes into another whole field on which you feel can regulate better, people or beauracry.
Example, you ice skate, you don't need anyone telling you how fast or slow you can go do you?
No, but ice skates aren't a metal box weighing 3-4 thousand pounds speeding along at anything between 30-60 miles per hour. You don't have passengers in ice skates.
Face it man, comparing cars to ice skates is rediculous, it's like comparing a thrown piece of paper to a gunshot.
If you are saying gas prices rose due to over speculation of oil, i disagree. If you look at the dollar index you will notice that the time period of $4 gas, meshes with the time period where the dollar made all-time lows.
The reason those speculators were incorrect was because the world economy slowed and the dollar strengthed. This dollar is back to trending down near year lows and even pimco has stated the dollar will lose value, but in an orderly manner.
I'm not putting "libertarians" (a word mal-used by them) in the same boat as the conspiracy nuts. It's Just that when the fed is mentioned, the conspiracy nuts tend to come out.
Name one society that has thrived due to the free market because the example you gave, Hong Kong, is false. Without the SUBSIDIZED British Empire and the SUBSIDIZED Chinese gov, it would never have grown.
Funny you mention Einstein. He HATED the free market as he was a supporter of REAL socialism (look it up).
I see what you meant by Conspiracy people jumping out when the Fed is mentioned but the way you wrote it looked like you were.
Hong Kong Strived alone. The British literally would sit back on the shore, drink tea and let things be, they never interfered in their economy. China has even given Hong Kong autonomy over it's own affairs, that's even stated.
What Einstein favored and what was done are two different things, that was the point.
You can look over to India, all the years of their socialism they were never to do what they did in the past 5 years. What is that? Cut their poverty rate in half. How? Taking a more Free Market Approach.
Throughout history, the proven method that is most prosperous has been that of Individual Freedom & Free Market. I could throw out more examples if you like.
When I use the word "actual democracy", I meant democracy where populations organize and create their own ways of organizing society not based on doctrines but based on what the organized populations of the world decide on.
Great opinions. Keep up the good opinion making. Ever entertain an opinion out side the culturally accepted norms? Me neither. Let's break our backs attempting to blow ourselves.
Gold can create more instability when major nations cheat on their standard, as happened in Nixon's Bretton Woods and during the great depression.
US inflating away debt is a similar cheat on a currency standard, I agree with your first point my friend. Quitting the Dollar standard is like shooting yourself to solve your cancer.
Also I agree with debt enslavement, however would blame high property prices as the culprit, perhaps we should change income tax to land tax?
This the post that the conservative nut jobs do not want you to read. They will do and say almost anything to stand it the way of the truth.
If you are confused about healthcare reform and you have questions I may be able to help you. On my profile you will find the answers to the most commonly asked questions as well as links to the bill in both long and short versions. You will also find several ways in which you can get more involved including phone #'s and petitions and more.
sure dude, many could see the bubble, infact the last pre-bust rally was a short squeeze, it's just not easy to regulate away a bubble. regulation requires oversight and rules, which results in a larger state and more corruption.
usually the real news is better but this story lacks understanding of the argument to maintain privacy.
as far as the comments go, most are insane. all governments use propaganda, that is obvious to anyone with half a brain, but none of the theories I have heard in the comments make any sense or have any proof. they are as fantastic as the propaganda you are disputing.
Well research some more then.. Geitner was head of the NY Fed, which was responsible for regulating New York Banks, aka all of Wall Street. He didn't do it. He worked intimately to rescue Bear Sterns. You read and it doesn't take long to find out he's friends with most of the Wall Street CEOs. Keep believing that there is a magical unbroken barrier between private and public service. Every Treasury secretary is from Wall Street.
what do you mean? deficit spending results in crowding out. Preventing systemic risk is the way forward, even a GDP drop of 10% and high unemployment for 10 years is better than the 20% great depression GDP drop.
As far as spotting the asset bubble, acting was not easy, Greenspan did notice it but did not raise rates in time.
It was the policies of the fed(greenspan & bernanke) that created the housing bubble, as a way to avoid the needed recession following the tech stock bubble.
Systemic risk is worse now and will continue. The market has chosen which companies need to fail so they stop wasting finite resources. Bailouts, subsudies, and regulation work to benefit the politically connected and circumvent market functions.
Bernanke is trying to reinflate the bubble, just like greenspan did.
The US Treasury needs to be printing the money (interest free), and not a private banking cartel like the Federal Reserve which is running up the debt in the trillions of trillions, and the shareholders of the Fed are taking the taxpayers money and putting it into their private bank accounts. It's the biggest robbery in the history of humanity.
Obama is just a puppet being used by the criminal elite to appoint Bernanke who is the cause of the economic crisis in the first place. They are all traitors to America.
The fed is now trying to figure how to circumvent 1207. Bernanke is a puppet to CFR , Trilateral Commision and Bilderberg. If they are on mainstream media they are the poster boy and mouthpiece. There are some powerful evil men behind the scenes writing the script on the teleprompter. Obama and Bernanke soo casual with no ties on.. Please!
Secondly, do you girls and guys know where gold comes from? It's one of the most destructive processes created which turns people's communities and productive land into cyanide-leaching, heavy metal contamination zones, and dries up aquifers and rivers often forcing mass migrations...of who? The poor of course!
All you gold standard people are living in a trance-like existence. The world has already gone through the stages you describe (gold standard, barter, various forms of representative currency) and guess what, shit wasn't great. The Greenback movement was poor farmers who protested the control of the GOLD-BACKED currency by the oligarchy. It's not important WHAT you trade, it's how its traded. Democratization is the issue, not magically replacing paper with gold and living happy ever after.
It's the fiat currency and the control there of by the private banking cartel. The constitution states:The Congress shall have power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. The Privately Owned Federal Reserve does not!
There's no fixing the system it has to reset that's why the government idiots don't care about budgets.
Problem is when you realize the tragedy your life's savings get wiped out because there's nothing backing the Federal Reserve note. The Federal Reserve and the Central Bank of Zimbabwe are one in the same except the US Fed Note is world reserve. Divide by zero error all fiat money has a future value of 0.
LaRouche says 30 days to put the United States into bankruptcy reorganization and put forth a credit system or forget about civilization. I don't think it can be fixed because there's no trust in government systems. Not going to be much fun is it ?
Well setting aside the severity of all the problems this country faces right now, This is the most exciting time in human history. What I mean by that is, the ultimate battle between good and evil is upon us. We will be in the center of the world that became enslaved, or The world freed from evil and Tierney to produce the first real civilization of humanity. What we do now, will produce one of those outcomes.
I'm not sure what the reporter meant by "democratize" the process of monetary policy. How democratic is the process if decisions can be tweaked by the rich instead of to the benefit of the general population, taking account of the big picture as a whole?
Yes spirits, "democratize" got my attention as well. The last thing we need is the power of the Fed controlled by the ballot box/politicians. Worse than "the rich" using it to control monetary policy is "the poor" gaining control. This essentially backtracks monetary policy a few hundred years and we would see crap like the inflations in France around the revolution. We need to ask if such power should be centralized at all, not if it should be as it is now or "democratized"
Precisely. The only way to guard against the worst forms of manipulation is to let the market determine the lending price of money. Not a quasi-private agency or a Ben Bernanke and wherever his strings lead..
Ron Paul thinks the powerful people and entities that do the dirty work first hand are fine. Kill the government, but hands off super powerful corrupt large corporations. Problem solved.
"Bernanke is like a ships captain. There are warning signs there's a storm coming. He disregards any and all warning signals and sinks the ship. A thousand passengers drown. Bernanke saves himself and five crew members and gets a medal for bravery."
Of course, the role of Bernanke isn't to provide the truth behind what is going on. The role of Bernanke is to control the value of the dollar by convincing borrowers and spenders that everything is going fine.
That guy Pollin literally said that HR 1207 is not enough and that the whole market has to be revised and changed to make it work for "ordinary people".
I think the Chairman appointment is just a ceremony representing a link between the Fed and the government.
The Chairman and Vice Chairman of the Board are two of seven members of the Board of Governors that are appointed by the President - from among the sitting Governors -.
That is, the president is not really free to choose the person who he/she wants to be the Chairman of this "government agency."
cause the FED has feet in both realms. They a bureau created by congress, but they have stocks, and hte owner of those stocks is not the US gov. when the FED was created, there was a portion of those stocks that did not have to be disclosed. who is eating them up? the banks own another portion of the FEDs stocks
So wouldn't this be a nice profit model? the US gov is in debt. so they pay interest to... who creates and loans the money? FED. Wodner why we don't our debt doesn't get paid off?
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
There will NEVER be a soultion to americas ecnomic cancer without sound money redemable in gold or silver. It worked for 90 years to deliver zero net inflation and can work again.
You don't have to carry gold ... come on we are saying back the paper with something other then Debt and it would be entered in as a Competing currency -- not the sole currency but as an option to what our only option is at the moment of Debt created in fractional Reserve banking
The market will set the value no need to impose an artificial price on it
2) the weaker the dollar the less geopolitical dominance we have.
3) we have the most gold in the world.
4) If we backed our currency with some type of a precious metal standard set by the market we would would be sitting much better then the continued road of debt and enslavement to fractional reserve banking.
5) providing a sound currency that maintains its purchasing power is what we need, not this currency instability we currently have.
There is a way to employ an entire population, end all these irregularities, injustices, criminal behavior etc. - it's called publically PLANNING THE ECONOMY so it doesn't blow up in everyone's face every decade or so and as we listen to these idiots like Bernanke day in and day out and hear about/experience the mess they cause, public planning just makes more and more sense.
No, the Fed isn't even a government agency - it's more like a league of private bankers empowered by the government to basically control American financial policy. So it sure as hell isn't public planning, it's private planning and private interests controlling public finances and public space and of course the results of that combination are pretty grim.
Indeed, the Fed can certainly be seen that way. At that same time take the powers of the Fed and place them in say a Congressional committee, a true "public" entity, and we would have even more chaos as this has been done and failed miserably over the centuries. It is only the pseudo-independence of the Fed, its freedom to sabotage our economy every now and then, which keeps us from hyperinflating our currency. I would go the other way and free banking from planning to avoid the chaos.
Anyone who is still confused about the public option plan is welcome to visit my profile. I have answers to some of the most commonly asked questions, a link to the ez to read version of the bill sent out by congress and much more. I also have ways in which you can get more involved including phone #'s and petitions.
lending standards are not tied to ethics as this would create an inefficient economy and perhaps lead to corruption by those deciding such ethical practices.
democratization of monetary policy caused the great depression. people did not understand the treasury deposit ratio and tried to punish greedy bankers.
first i need to school you.we spend a trillion dollars on a year on the wars in iraq and afganistan.who started the war a republican pres who started the one before it his father also a republican.obama is going to masssively cut defense spending by the end of his first term so we can spend more money on domestic concerns.stop watching fox news corporate fascism is dying
The ousting of Milosevic in Yugoslavia was done for the very same causes we are in Afghanistan now, to eliminate enemies who aren't willing to go along with USA pipeline projects. When it comes to foreign policy Obama, Clinton and the Bushes are pretty indistinguishable from another.
Not so much a compare/contrast situation but to see the continuity of policies. Yes, Bush was allowed to unleash larger actions as 9/11 made us forget the "bloodless war" hangup post Vietnam. That does not make Clintons action forgettable, especially if you look at the brutal sactions imposed on Iraq during his time with 500k+ Iraqis dead and a major inspiration for the 9/11 attacks. This does not even look at his mobilizations yet. Remember Bush campaigned against Clintons nation building? lol
You got it right, tommyneumann. President Obama is focusing on health care and energy in his first year. I'm sure he will cut back on military spending in the near future.
In this comment stanjz, you make the same omission as tommyneumann and just totally ignore Obamas foreign policy actions. What is going on with that? Hoping for a military cutback in the future is nice but ignores Obamas extention of the Bush policies. You see his little speech on the Afgan elections? I think Bush gave that same speech a few years ago. lol. Managing an empire is a bitch and all we do is fight over personality as if any of these folks will slow its growth.
Haha lending money to the Ghetto will make everything better are you guys high on your own supply? Its inflation (the dilution of wealth) that creates the ills... all of them(disperity of wealth, crime, unemployment....) They all knew this could be prevented. A loan thats full doc 80 LTV and 35% DTI is less than likely to fail. The banks knew consumers were over leveraged with unsecured debt(credit cards) so they allowed cheap money to flow.
Consumers moved it into their secured assest(their house) thus the banks knew they'd bankrupt individual consumers to get their money back (instead of getting nothing in bankrupcy court; in a hot real estate market it makes sense). Too many failed and now you see the reprocusions.
This comment has received too many negative votesshow
most of you know nothing at all.obama is saving us from the republican mess of the last decade.he is going to rescue the auto industry, turn around the economy, end the wars, and lead america into 21st century prosperity.obama is not a nazi or socialist, you morons! hes a leader
Obama vs. BUSH: Opposite wings of the same evil bird.
I voted for Obama because of his national pro-gay marriage position.
Change has NOT happened as promised, we were lied to.
FUCK OBUSHMA!
GayWorldOrder 1 year ago
Obamas version of change is same ol' same ol'.
Obama should rewrite his slogan from
Change We Need to:
Hey, We Need Change!
Can ya'll spare sum?
Darkhorse21x 2 years ago 3
Make them homeless so they become ur slaves, well done USA!
ImplosionTechnology 2 years ago
thats what happens when you let a jew run your cuntry they take it down think about it people
raffi7900 2 years ago
He wasn't the man who deregulated the housing market, Bush and Allen Greenspan did. It's easy to point fingers after the fact. You can't debate things aren't better now, even if the growth isn't from the private sector, but if he didn't make these decision of government intervention, our banks wouldn't gone bankrupt like a line of dominos. . .
ForgetGod666 2 years ago
Lets get the facts strait. Glass Steagall Act was repealed in 1999 under a Clinton and the Republican Congress. That is who deregulated everything. And yes Greenspan was there but there has been alot more money printed since Bernanke has chaired the fed.
As far as recovery goes ever herd of the ressesion of 1921 where there was little gov. intervention and a quick rebound? How about the lost decade in Japan or the "Great"(only great in US) Depression 1929 where there was gov. intervention?
jadam914 2 years ago
We printed money because we had none left, IMAGIANE IF OUR BANKS WENT BENKRUPT. We still have no money . . . our country is now trillions in debt, but at least we have a chance for America's private market to rebound, otherwise the word depression would have a brand new meaning.
ForgetGod666 2 years ago
I can agree that there need to be intervention to help correct the years of gov. market monipulation but it could have been handled better.
some of the companys should have been left to fail.
Pumping money into the FDIC would have protected Main St. and the artificaly inflated prices could have fell to a reasonable level. That's just ONE way it could have been done. Now we will be stuck with stagflation for 10 years or more with the route taken.
jadam914 2 years ago
Yes, something need to be done to correct all the medeling the Fed has been doing for years but what they gave us was not the only way to handle it. And most of the ecconomists that saw it comming would agree.
jadam914 2 years ago
Bernake is an economic terrorist. The federal reserve is the Hub of economic terrorism in our country. The people who are in government think this country belongs to them, but it belongs to us everybody. We need to take away the powers that these idiots have taken from us,a nd given to themselves.
hugegiantfrogs 2 years ago
Thanks for posting, I can't believe that Obama appointed him again!
68generation 2 years ago
Never Donate any day.....
freedombiteback 2 years ago
No state shall make anything but gold and silver coin tender in payment of debt.
Article 1; Section 10, U.S.Constitution
dieyoubastards 2 years ago
Bernanke never saw it comming or if he wanted it to come. END THE FED!
jadam914 2 years ago 5
End the fed? . . . hahahahah, what stupidity!
ForgetGod666 2 years ago
Bernanki has robbed our country.... this whole thing was a set up to bring on the Amero.... we must support HR1207... this bill will help us to see what the FED is doing with our money.
BearWa11ace 2 years ago
Bernanke is the Illuminati Money man.
countesscristo 2 years ago
actually "credit" man i guess. there's no real money
LemonAndYoghurt 2 years ago
Bernanke is good enough for Bush (Rep.) and good enough for Obama (Dem.). So the monetary policy of the Rep. and the Dem. is the same?????'
Doesn't seem right.
JohnnyHorton 2 years ago
Of course just like every other major policy position.
The Dems and Reps are both owned by the same people.
It's just a dog and pony show to fool the people.
Only the brainwashed fools vote Democrat or Republican.
Don't blame me I voted for the leading alternative candidate,Ralph Nader.
The alternatives all agreed with the people on the 4 major issues,but the brainwashed public always votes for whoever spends the most monet.
Who has the most money?
The FED.
dieyoubastards 2 years ago
Did you hear how they don't want to reveal where the trillion bailout went because it is a "Trade Secret"? The money came from the citizens, the citizens should get to know where the money is yet they don't want you to know.
helpmakethingsbetter 2 years ago
Bernanke will get his story straight in the next few months. TG was not a good actor, but I have faith that Bernanke can carry out this fleecing until Obama commission's a MAson to chisel his face on Mt. Rushmore.
drjag10 2 years ago
Bernanke will be the fall guy when the Fed is exposed. The bank regulators (Fed) are more concerned with devaluing the dollar than creating "jobs".
Obama will enter a war one year prior to the next election. Another term for Obama will bankrupt America and turn it into a socialist state. This is exactly what the Fed and our socialists have been waiting for.
Devalue, fleece, purge.
drjag10 2 years ago
Printing money out of thin air is deadly.
underyourskindvd 2 years ago
its what we are doing ;)
Kirilltraceur 2 years ago
They need Bernanke to stay in since they know he has a stake in keeping all of the nefarious dealing tarped (covered) up.
Paetaor 2 years ago 2
The Fed needs to SHUT IT DOORS! We can't trust these goons any longer. Look what they've done to the whole world already! Look have many wars they've financed. Look what they've done to our Constitution! We cannot allow them to profit off of us. They are deceivers & want to reign over us. I support Ron Paul. He needs to be our President in 2012. Gold & silver are real money. Not worthless I owe you pieces of paper which become devalued through interest, excessive printing, inflation & deflation.
Elinitsam 2 years ago
The FED created the housing bubble (along with a lot of corrupt bankers)...what's the housing bubble? Housing inflation! That's because its motivated by greed and not the general welfare of the people. The Fed is one of the biggest private institutions in the world, so if you against corporatism, then you must necessarily be against the Fed. Bernanke has done nothing but promote rampant inflation. And its going to become intolerable real soon.
OmarThePug 2 years ago
"Article 1 section 8 of the US constitution...
Congress has the power to:
To coin Money, and regulate the Value thereof"
Am I missing something here? END THE FED!
kja5 2 years ago 4
Thank you for standing up for the Constitution. Many people on this channel don't seem to think much of it.
LPBguy 2 years ago 2
The day the federal reserve gets audited is the day the US economy/government/society collapses.
They have accumulated 9 trillion dollars worth of hidden debt in the last 12 months alone.
kja5 2 years ago 3
Well, the crisis is triggered and mastered by the Fed itself...by blowing the bubble...which I suspect is still doing the same..reblowing the housing bubble..and who gets rich...
well you know..the stalwarts of Wall Street, the people who were responsible for setting up Fed in 1913
sadhusuman 2 years ago
If the federal reserve is a private bank, how does the president get to decide who gets appointed chairman?
har818 2 years ago
good question, another good question is, as a private bank, how are they above oversight from the govt? That is why they need to pass a bill for this audit of the federal reserve. Look it up, it is not a govt agency.
Zoklor 2 years ago
They try to play both sides of a loophole
helpmakethingsbetter 2 years ago
Does that not sound like a communist country appointing the leaders of private oil companies, making them nationalistic communist organizations?
helpmakethingsbetter 2 years ago
This comment has received too many negative votes show
Ron Paul is a moron. He knows nothing about economics.
Richardgwm 2 years ago
Comment removed
kuhan1870 2 years ago
I am not a Obama Zombie. I may have voted for Obama but I am not naive. I have researched his cabinet and him. He is as owned by corporate america as Bush was. Fact is the Kenya birth certificate that you guys say proves he is not american is a forgery. Fact is he was born in Hawaii. Impeachment is for a president in his second term not first. The ballot box is for a president in his first term.
captcrais101 2 years ago
Hell no he didnt save the world. We would not have the problems we are having if we didnt have a PRIVATE bank adjusting our economy to try and FIX it. They advertise these chairman as saviors to our economy, when all they do is put it in favor of business. Dem or Rep., you should not want this private bank running and ruining our economy.
Zoklor 2 years ago 4
The government should issue their own currency and credit. End the Fed. Let the treasury dept take over the essential roles. Like the constitution states.
takforalt 2 years ago 3
bernanke is a thief and a criminal.
djCASHmachine 2 years ago 4
The reason I'm not going to re-post or otherwise send this story to my friends is because of the guy saying near the end that what we need is more "democratization" of monetary policy, and that the actions in Illinois were positive. All the people in Illinois did was throw more gasoline on the fire. Saddling up with debt for "community projects" will do nothing to heal the underlying economic imbalances that were CREATED by excessive lending.
immanent 2 years ago
excellent news
pallab1234 2 years ago
The real news should honestly start trying to get on the radio waves or on the talking box. Theyre the only ones who make sense!
musicpluslife 2 years ago
Bernanke is nothing more than a treasonous criminal of the first order. He should be beheaded on the steps of the Capitol along with his fellow criminals like Geitner and Paulson.
jlailman 2 years ago 7
agree more information on this would be much appreciated please
analyst2004 2 years ago
Federal reserve policy manulipations areNOT the answer its the cancer.
Paper money redeemable in gold and silver gave us near 100 years of ZERO net inflation. Fed money has lost 98% of its buying power.
The fed in NOT independent, its the cartel too of banking intrests against the people.
unameitltd 2 years ago
Taker your Larouche BS and shove it up your ass. He is a fraud and you are in a cult.
captcrais101 2 years ago
Comment removed
kuhan1870 2 years ago
I really can't stand the Larouchies, They pester the hell out of you and are belligerent towards you if you have a difference of opinion. Completely glossing over the fact that Larouche had spent time in prison because of identity fraud.
pataphysician66 2 years ago
check your history books and show me when democracy was better.
wuast.wais I see your point and agree. I do get a feeling that things might be OK for 5 or 6 years before a repeat, especially if savings rate turns negative.
China has the US squeezed with it's dollar peg, it seems like China would rather industrialize rapidly than promote domestic and global stability.
kuhan1870 2 years ago
Actual democracy has really never occurred in human history. Small bits of it has and parts of the world at certain times has made steps towards democracy (the U.S. in the 60's, latin america today, etc). But when society got closer to real democracy, it got better, hence the reason we have great things like social security, child labor laws, public schools, human rights, etc.
bootleg42 2 years ago
Comment removed
kuhan1870 2 years ago
I do not believe it will last 5 or 6 years. I believe that we have less than 2.
Really it does not matter. The current economy is phony and attempts to prop it up will fail and make the problems worse.
wuastwais 2 years ago
GREAT VIDEO but I want to say some things before all the "libertarians" (a term mal-used by them) and conspiracy nuts start flooding the place:
1. 9-11 was not an inside job
2. The UN is not going to rule the world or have a shadow government
3. The fed is not a secret organization that rules the world
4. The free-market doesn't work. It never has in all of history.
5. Actual Democracy is more important and needed for human survival than any other artifical thing (etc. stop printing money, etc)
bootleg42 2 years ago
The hell are you smoking?
Don't put "Conspiracy nuts" in the same level as Libertarians, that's a horrible way of distorting truth from fiction.
Wtf are you talking about that the Free Market never worked?!? Civilization has come this far because of it.
Did Einstein come up with the theory of Relativity under Regulation?
Is Hong Kong today an economic powerhouse... why do u think?
There's so much that I can only type on this.
If the Govt. wants to fix it... GTFO of the economy.
MrMP81 2 years ago 2
isn't that what happened, deregulation of the banks? of course there was a housing bubble and over speculation in crude oil ... also there has never been a "free market" there have always been governments involved. in fact free market cannot work without police enforcing property laws. gov't provides the infrastructure such as roads as well, protects business with the military etc
osiris2669 2 years ago
Osiris, There was no deregulation, that is the biggest misconception. There was actually, OVER regulation that caused this.
How? In a nutshell:
The Fed cut the rates ( in 01 ) to 1% causing banks to take in and give out loans ( Adjustable Rates ) along with the removal of the Glass Steigl Act ( Under Clinton ) it was snowballing.
What you mention for the Free Market to work is what is Constitutional for the most part.
MrMP81 2 years ago
Laws, Etc. all have nothing to do with the "Economy/Free Market itself", they just provide the structure.
MrMP81 2 years ago
laws have everything to do w/ the market! if there was no law against stealing who'd open a store? then there are laws that protect consumers from things such as fraud or false advertising. these things give consumers confidence in products and causes more consuming. & lastly, businesses don't want free markets, they want as many gov't handouts as they can get, contracts, tariffs on foreign goods etc etc. whether its int he constitution has nothing to do w/ if a law is regulation or not.
osiris2669 2 years ago
also, many regulations give consumers better information and make the market more "efficient" with things like nutrition labels and reports on auto safety or MPG. I wish we had regulation forcing food labels to tell you when something was genetically altered. currently they don't have to tell you, i think that is wrong and prevents a more efficient market
osiris2669 2 years ago
What's to say the businesses wouldn't have done it themselves? People praise the FDA for example but how many things have they prevented or delayed on something being released due to regulations ( times taken to approve something ) and so forth.
As for Auto Safety, that goes into another whole field on which you feel can regulate better, people or beauracry.
Example, you ice skate, you don't need anyone telling you how fast or slow you can go do you?
MrMP81 2 years ago
No, but ice skates aren't a metal box weighing 3-4 thousand pounds speeding along at anything between 30-60 miles per hour. You don't have passengers in ice skates.
Face it man, comparing cars to ice skates is rediculous, it's like comparing a thrown piece of paper to a gunshot.
dominictemple 2 years ago
lol It's the fundamental argument of who can regulate what better. Not how different something is.
People have the common sense through self knowledge to do a better job at regulating than an institution that acts on "votes"
That was the point.
MrMP81 2 years ago
If you are saying gas prices rose due to over speculation of oil, i disagree. If you look at the dollar index you will notice that the time period of $4 gas, meshes with the time period where the dollar made all-time lows.
The reason those speculators were incorrect was because the world economy slowed and the dollar strengthed. This dollar is back to trending down near year lows and even pimco has stated the dollar will lose value, but in an orderly manner.
wuastwais 2 years ago
I'm not putting "libertarians" (a word mal-used by them) in the same boat as the conspiracy nuts. It's Just that when the fed is mentioned, the conspiracy nuts tend to come out.
Name one society that has thrived due to the free market because the example you gave, Hong Kong, is false. Without the SUBSIDIZED British Empire and the SUBSIDIZED Chinese gov, it would never have grown.
Funny you mention Einstein. He HATED the free market as he was a supporter of REAL socialism (look it up).
bootleg42 2 years ago
I see what you meant by Conspiracy people jumping out when the Fed is mentioned but the way you wrote it looked like you were.
Hong Kong Strived alone. The British literally would sit back on the shore, drink tea and let things be, they never interfered in their economy. China has even given Hong Kong autonomy over it's own affairs, that's even stated.
What Einstein favored and what was done are two different things, that was the point.
MrMP81 2 years ago
You can look over to India, all the years of their socialism they were never to do what they did in the past 5 years. What is that? Cut their poverty rate in half. How? Taking a more Free Market Approach.
Throughout history, the proven method that is most prosperous has been that of Individual Freedom & Free Market. I could throw out more examples if you like.
MrMP81 2 years ago
by actual democracy do you happen to mean BIG money buying up 3rd world governments....
the electoral college.....
please elucidate on "Actual Democracy" for the pseudo-libertarians
whispers83 2 years ago
When I use the word "actual democracy", I meant democracy where populations organize and create their own ways of organizing society not based on doctrines but based on what the organized populations of the world decide on.
bootleg42 2 years ago
Dear Boot
Great opinions. Keep up the good opinion making. Ever entertain an opinion out side the culturally accepted norms? Me neither. Let's break our backs attempting to blow ourselves.
Love,
Biter.
elbowbiter1 2 years ago
fuck bernakee and his pyramid scheme. ron paul would kick his ass. show us the books all of em audit the bastards
gjljhjb1 2 years ago
Finally some sanity
Gold can create more instability when major nations cheat on their standard, as happened in Nixon's Bretton Woods and during the great depression.
US inflating away debt is a similar cheat on a currency standard, I agree with your first point my friend. Quitting the Dollar standard is like shooting yourself to solve your cancer.
Also I agree with debt enslavement, however would blame high property prices as the culprit, perhaps we should change income tax to land tax?
kuhan1870 2 years ago
Bernake is a moron. He's a good magician, but a moron. You cannot create wealth by printing money.
GivettheGAS 2 years ago 3
This has been flagged as spam show
This the post that the conservative nut jobs do not want you to read. They will do and say almost anything to stand it the way of the truth.
If you are confused about healthcare reform and you have questions I may be able to help you. On my profile you will find the answers to the most commonly asked questions as well as links to the bill in both long and short versions. You will also find several ways in which you can get more involved including phone #'s and petitions and more.
Smartassawhip 2 years ago
sure dude, many could see the bubble, infact the last pre-bust rally was a short squeeze, it's just not easy to regulate away a bubble. regulation requires oversight and rules, which results in a larger state and more corruption.
I think the only mistake was bailing out GM
kuhan1870 2 years ago
get some Austrian economists on .
Peter schiff did NOT miss the bubble.
HuxleyWasRight 2 years ago
Off with bernankes head !
bravehartmman 2 years ago
Did anyone see """Dr. Strangelove?""""
Precious Bodily Fluids.....and other such delusions...
Snowflake70 2 years ago
usually the real news is better but this story lacks understanding of the argument to maintain privacy.
as far as the comments go, most are insane. all governments use propaganda, that is obvious to anyone with half a brain, but none of the theories I have heard in the comments make any sense or have any proof. they are as fantastic as the propaganda you are disputing.
kuhan1870 2 years ago
Google "HR 1207". Thank you for covering this topic real news.
CivilRadiant 2 years ago
who is Barry Sotoro?
captcrais101 2 years ago
The speaker falsely states that Timothy Geitner was tied to Wall Street. Geitner has only worked in public service.
Cubit100 2 years ago
Comment removed
ttj1776 2 years ago
Well research some more then.. Geitner was head of the NY Fed, which was responsible for regulating New York Banks, aka all of Wall Street. He didn't do it. He worked intimately to rescue Bear Sterns. You read and it doesn't take long to find out he's friends with most of the Wall Street CEOs. Keep believing that there is a magical unbroken barrier between private and public service. Every Treasury secretary is from Wall Street.
Renegen1 2 years ago
If bernanke is an expert on the great depression, why is he in support of following the same policies that caused it?
Why does he not push for the solutions that were implemented that helped end the great depression?
The answer is he is ignorant, or much worse.
wuastwais 2 years ago
what do you mean? deficit spending results in crowding out. Preventing systemic risk is the way forward, even a GDP drop of 10% and high unemployment for 10 years is better than the 20% great depression GDP drop.
As far as spotting the asset bubble, acting was not easy, Greenspan did notice it but did not raise rates in time.
kuhan1870 2 years ago
The problem has not been solved, simply differed. This is the same thing greenspan did in 2001, only worse.
The actions of the fed assure more systemic risk, not less.
wuastwais 2 years ago
I meant deferred, not differed.
wuastwais 2 years ago
It was the policies of the fed(greenspan & bernanke) that created the housing bubble, as a way to avoid the needed recession following the tech stock bubble.
Systemic risk is worse now and will continue. The market has chosen which companies need to fail so they stop wasting finite resources. Bailouts, subsudies, and regulation work to benefit the politically connected and circumvent market functions.
Bernanke is trying to reinflate the bubble, just like greenspan did.
wuastwais 2 years ago
The US Treasury needs to be printing the money (interest free), and not a private banking cartel like the Federal Reserve which is running up the debt in the trillions of trillions, and the shareholders of the Fed are taking the taxpayers money and putting it into their private bank accounts. It's the biggest robbery in the history of humanity.
freedomfighterone 2 years ago
liars. plain and simple. scumbag lying thieves. obama absolutely disgusts me to the point of feeling ill. he is so full of shit.
bob733333 2 years ago
It's too bad Ron Paul won't ever be president.. he seems to be the only one that has any balls to change this nation.
Haydenballvideos 2 years ago
Obama is just a puppet being used by the criminal elite to appoint Bernanke who is the cause of the economic crisis in the first place. They are all traitors to America.
freedomfighterone 2 years ago
The fed is now trying to figure how to circumvent 1207. Bernanke is a puppet to CFR , Trilateral Commision and Bilderberg. If they are on mainstream media they are the poster boy and mouthpiece. There are some powerful evil men behind the scenes writing the script on the teleprompter. Obama and Bernanke soo casual with no ties on.. Please!
EMPIRE0FLIES 2 years ago
Rothschild still own the US
kingnek 2 years ago 2
no it doesn't. corporations do have a force through lobby and/or bribery. there are many other forces too, public opinion, military opinion etc.
Zionist? What the hell does that mean? So if you were in charge the US would be better?
This is a good news site, why are the comments either crazy or retarded or both?
kuhan1870 2 years ago
This has been flagged as spam show
Go Ron Paul!
guruapa 2 years ago
Secondly, do you girls and guys know where gold comes from? It's one of the most destructive processes created which turns people's communities and productive land into cyanide-leaching, heavy metal contamination zones, and dries up aquifers and rivers often forcing mass migrations...of who? The poor of course!
theresponderful 2 years ago
All you gold standard people are living in a trance-like existence. The world has already gone through the stages you describe (gold standard, barter, various forms of representative currency) and guess what, shit wasn't great. The Greenback movement was poor farmers who protested the control of the GOLD-BACKED currency by the oligarchy. It's not important WHAT you trade, it's how its traded. Democratization is the issue, not magically replacing paper with gold and living happy ever after.
theresponderful 2 years ago
maybe gold isn't the answer. the federal reserve has proven, without a doubt, that their system is an abomination.
bob733333 2 years ago
It's the fiat currency and the control there of by the private banking cartel. The constitution states:The Congress shall have power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. The Privately Owned Federal Reserve does not!
nasanction 2 years ago
There's no fixing the system it has to reset that's why the government idiots don't care about budgets.
Problem is when you realize the tragedy your life's savings get wiped out because there's nothing backing the Federal Reserve note. The Federal Reserve and the Central Bank of Zimbabwe are one in the same except the US Fed Note is world reserve. Divide by zero error all fiat money has a future value of 0.
boots920 2 years ago
all fiat money has a future value of 0.0?
Come on, Paper and ink are worth something!
0.1?
Dead on Boots920!
Gold standard or barter is the only alternative...
nasanction 2 years ago
LaRouche says 30 days to put the United States into bankruptcy reorganization and put forth a credit system or forget about civilization. I don't think it can be fixed because there's no trust in government systems. Not going to be much fun is it ?
boots920 2 years ago
Well setting aside the severity of all the problems this country faces right now, This is the most exciting time in human history. What I mean by that is, the ultimate battle between good and evil is upon us. We will be in the center of the world that became enslaved, or The world freed from evil and Tierney to produce the first real civilization of humanity. What we do now, will produce one of those outcomes.
Peace first!
We all know whats second. Right?
nasanction 2 years ago
I just wish American citizens wouldn't wave the flag as their country implodes. Its like they cheer on the subversion...
To tell you the truth I really don't care anymore even if you had a legit government you can't fix it.
boots920 2 years ago
This is how it can be fixed. One of several ways, but this is the most direct, and least bloody.
/watch?v=nHJv_k0JyQo&feature=sub
2 parts, but the 2nd is only about a minute.
Thanks for the conversation! ;)
HR1207 Audit the Federal Reserve!
I heard it will be up for vote next month. Everyone needs to call your Senator!
nasanction 2 years ago
I'm not sure what the reporter meant by "democratize" the process of monetary policy. How democratic is the process if decisions can be tweaked by the rich instead of to the benefit of the general population, taking account of the big picture as a whole?
spiritsA 2 years ago
Yes spirits, "democratize" got my attention as well. The last thing we need is the power of the Fed controlled by the ballot box/politicians. Worse than "the rich" using it to control monetary policy is "the poor" gaining control. This essentially backtracks monetary policy a few hundred years and we would see crap like the inflations in France around the revolution. We need to ask if such power should be centralized at all, not if it should be as it is now or "democratized"
LibertyOrBust 2 years ago
Precisely. The only way to guard against the worst forms of manipulation is to let the market determine the lending price of money. Not a quasi-private agency or a Ben Bernanke and wherever his strings lead..
immanent 2 years ago
I agree with Ron Paul's bill.
JigglesJingle 2 years ago
Helicopter Ben missed everything and was completely wrong for several years, ...and yet, "Is a First Rate Economist" how do you you gt that?
"Can't get anyone Better"????? WTF? Where the hell do you get that?
I Totally agree with Dean Baker!!!!
Obama couldn't even say it without screwing up because his subconscious has to overcome the lie. lol
PsyogiBottoms 2 years ago
I think Bernanke's got Ba-Donk-A-Donk.
badger5079 2 years ago
the entire field of economics is fundamentally flawed to the point of uselessness. The only question is whether Ben Bernanke is a criminal or stupid.
adamproskiw 2 years ago 2
Ron Paul thinks the powerful people and entities that do the dirty work first hand are fine. Kill the government, but hands off super powerful corrupt large corporations. Problem solved.
stanjz 2 years ago 2
Ron Paul! you are doing good work.
thecursedland 2 years ago
"Bernanke is like a ships captain. There are warning signs there's a storm coming. He disregards any and all warning signals and sinks the ship. A thousand passengers drown. Bernanke saves himself and five crew members and gets a medal for bravery."
watch?v=FFhWIUTF1IM
Northern5tar 2 years ago
This has been flagged as spam show
Thank you, Ron Paul.
jesuschrustpizza 2 years ago
HuH? Federal Reserve, the Treasury... I thought these were one and the same.
arbiforumnow 2 years ago
Key phrase here: "...I'm sure Ben never imagined..."
arbiforumnow 2 years ago
1:10
who said we wanted a mainstream economist?
mainstream economist - federal reserve proponent
gwho 2 years ago
Many jiffy bob jimbo jivers accredit the chairman,
But don't get lost,
The IMF'd Must be looked at.
BigHornCanyon 2 years ago
why were bush's daughters there when bernanke was sworn in?
1reimhard 2 years ago
good question...I wouldn't know...do you have any idea???
bdriz16 2 years ago
the title of this video made me Laugh out Loud
PersonalJesus348 2 years ago
Of course, the role of Bernanke isn't to provide the truth behind what is going on. The role of Bernanke is to control the value of the dollar by convincing borrowers and spenders that everything is going fine.
RainMan34 2 years ago 3
As usual, TRNN turns it's 'reporting' into another propaganda snow job pushing its socialist agenda.
bbburton 2 years ago
lmao stfu
fiveheadlol 2 years ago
esad
bbburton 2 years ago
It's true bbburton.
That guy Pollin literally said that HR 1207 is not enough and that the whole market has to be revised and changed to make it work for "ordinary people".
More "wealth distribution" bullshit.
asperin 2 years ago
If, as I have heard, the fed is a private bank, why is Obama apointing the chairman.
Just askin'...
bcbackrider 2 years ago
Hi,
I think the Chairman appointment is just a ceremony representing a link between the Fed and the government.
The Chairman and Vice Chairman of the Board are two of seven members of the Board of Governors that are appointed by the President - from among the sitting Governors -.
That is, the president is not really free to choose the person who he/she wants to be the Chairman of this "government agency."
roberto8ag 2 years ago
cause the FED has feet in both realms. They a bureau created by congress, but they have stocks, and hte owner of those stocks is not the US gov. when the FED was created, there was a portion of those stocks that did not have to be disclosed. who is eating them up? the banks own another portion of the FEDs stocks
So wouldn't this be a nice profit model? the US gov is in debt. so they pay interest to... who creates and loans the money? FED. Wodner why we don't our debt doesn't get paid off?
gwho 2 years ago
Bernane s a puppet for those who own the Fed.
bbburton 2 years ago 3
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)
illyounotme 2 years ago 2
Did Bernanke save the world?
Do pigs fly?
Patriot4Liberty1776 2 years ago
Doesn't Bernanke sound incredibly nervous whenever he speaks?
percymate 2 years ago
Berneke deserves a grade of F
There will NEVER be a soultion to americas ecnomic cancer without sound money redemable in gold or silver. It worked for 90 years to deliver zero net inflation and can work again.
The fed is not the answer, the fed is the cancer
unameitltd 2 years ago 3
Agreed, there is no need to praise a centralized banking system. That's still conditioning people to be in debt as well as our government.
jmartecep 2 years ago
Gold won't work any better than paper because nobody can carry around bars of gold. And we as humans decide the value of how much gold is worth.
percymate 2 years ago
Come on young Keynesian
You don't have to carry gold ... come on we are saying back the paper with something other then Debt and it would be entered in as a Competing currency -- not the sole currency but as an option to what our only option is at the moment of Debt created in fractional Reserve banking
The market will set the value no need to impose an artificial price on it
Patriot4Liberty1776 2 years ago
ok, you do have a point. before you ask to get rid of the dollar standard think about what it gives you, the ability to inflate away debt.
The dollar standard supports you and you're democratic allies' geopolitical dominance.
If you take away the dollar standard before the Euro takes grip, you will be at the mercy of the Russians, Indians and the Chinese.
On an economic point, now is not the time to create additional currency instability by pushing for any change, don't you think?
kuhan1870 2 years ago
1st the dollar back as is will phase itself out.
2) the weaker the dollar the less geopolitical dominance we have.
3) we have the most gold in the world.
4) If we backed our currency with some type of a precious metal standard set by the market we would would be sitting much better then the continued road of debt and enslavement to fractional reserve banking.
5) providing a sound currency that maintains its purchasing power is what we need, not this currency instability we currently have.
Patriot4Liberty1776 2 years ago
There is a way to employ an entire population, end all these irregularities, injustices, criminal behavior etc. - it's called publically PLANNING THE ECONOMY so it doesn't blow up in everyone's face every decade or so and as we listen to these idiots like Bernanke day in and day out and hear about/experience the mess they cause, public planning just makes more and more sense.
blackiron60 2 years ago
Isn't what the Fed does "public planning"?
LibertyOrBust 2 years ago
No, the Fed isn't even a government agency - it's more like a league of private bankers empowered by the government to basically control American financial policy. So it sure as hell isn't public planning, it's private planning and private interests controlling public finances and public space and of course the results of that combination are pretty grim.
blackiron60 2 years ago
Indeed, the Fed can certainly be seen that way. At that same time take the powers of the Fed and place them in say a Congressional committee, a true "public" entity, and we would have even more chaos as this has been done and failed miserably over the centuries. It is only the pseudo-independence of the Fed, its freedom to sabotage our economy every now and then, which keeps us from hyperinflating our currency. I would go the other way and free banking from planning to avoid the chaos.
LibertyOrBust 2 years ago
The Fed is controled by the Rothschilds family of bankers....
...it's controlled by their familiy alone...
...and no one else.....
Traveller1612 2 years ago
It has over 1000 share-holders.
It is impossible for the Federal Reserve system to be controlled by one person.
larma7 2 years ago
Good news vid *****
Drogoempedocles 2 years ago 2
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We Need A Public Option!
Anyone who is still confused about the public option plan is welcome to visit my profile. I have answers to some of the most commonly asked questions, a link to the ez to read version of the bill sent out by congress and much more. I also have ways in which you can get more involved including phone #'s and petitions.
Smartassawhip 2 years ago
Go look up the entirety of the U.S. Code and the Code of Federal Regulations.
Count the volumes and titles, and tell me we don't already have a "publicly planned economy."
immanent 2 years ago
lending standards are not tied to ethics as this would create an inefficient economy and perhaps lead to corruption by those deciding such ethical practices.
democratization of monetary policy caused the great depression. people did not understand the treasury deposit ratio and tried to punish greedy bankers.
kuhan1870 2 years ago
Sorry but that is the biggest load of crap I have heard all day.
intolerantape 2 years ago
there is no substance to your argument
kuhan1870 2 years ago
how to rig a rigged game
Mahoivlich 2 years ago 3
criminals
hamletundone 2 years ago 2
Ya Bernake is the world's saviour, and I am superman!!
Fuck the federal reserve, toss the dollar in the trash and lets get on with life without all this paper money killing us.
freespeechnetwork (dot) ning (dot) com
jedirock 2 years ago 4
first i need to school you.we spend a trillion dollars on a year on the wars in iraq and afganistan.who started the war a republican pres who started the one before it his father also a republican.obama is going to masssively cut defense spending by the end of his first term so we can spend more money on domestic concerns.stop watching fox news corporate fascism is dying
tommyneumann 2 years ago
Nice. Typical of the Dems you seem to forget the Clinton wars.
LibertyOrBust 2 years ago
You want to compare conflicts in the Clinton years with the Iraq War?
stanjz 2 years ago
The ousting of Milosevic in Yugoslavia was done for the very same causes we are in Afghanistan now, to eliminate enemies who aren't willing to go along with USA pipeline projects. When it comes to foreign policy Obama, Clinton and the Bushes are pretty indistinguishable from another.
ArcticSlicer 2 years ago
and that's the truth ruth!!! janus face...flipside of the same coin. there is no difference in dems and repubs
megatron0357 2 years ago
Not so much a compare/contrast situation but to see the continuity of policies. Yes, Bush was allowed to unleash larger actions as 9/11 made us forget the "bloodless war" hangup post Vietnam. That does not make Clintons action forgettable, especially if you look at the brutal sactions imposed on Iraq during his time with 500k+ Iraqis dead and a major inspiration for the 9/11 attacks. This does not even look at his mobilizations yet. Remember Bush campaigned against Clintons nation building? lol
LibertyOrBust 2 years ago
You got it right, tommyneumann. President Obama is focusing on health care and energy in his first year. I'm sure he will cut back on military spending in the near future.
stanjz 2 years ago
In this comment stanjz, you make the same omission as tommyneumann and just totally ignore Obamas foreign policy actions. What is going on with that? Hoping for a military cutback in the future is nice but ignores Obamas extention of the Bush policies. You see his little speech on the Afgan elections? I think Bush gave that same speech a few years ago. lol. Managing an empire is a bitch and all we do is fight over personality as if any of these folks will slow its growth.
LibertyOrBust 2 years ago
Haha lending money to the Ghetto will make everything better are you guys high on your own supply? Its inflation (the dilution of wealth) that creates the ills... all of them(disperity of wealth, crime, unemployment....) They all knew this could be prevented. A loan thats full doc 80 LTV and 35% DTI is less than likely to fail. The banks knew consumers were over leveraged with unsecured debt(credit cards) so they allowed cheap money to flow.
Argonaut1337 2 years ago
Consumers moved it into their secured assest(their house) thus the banks knew they'd bankrupt individual consumers to get their money back (instead of getting nothing in bankrupcy court; in a hot real estate market it makes sense). Too many failed and now you see the reprocusions.
Argonaut1337 2 years ago
Bernanke is the Antichrist. Prove me wrong.
andrewh23 2 years ago
Jesus was wrong. There I proved you wrong.
awerner2007 2 years ago
Type "Stephen Zarlenga" into the youtube search and you will discover some very insightful proposals.
PersianPaladin 2 years ago
This comment has received too many negative votes show
most of you know nothing at all.obama is saving us from the republican mess of the last decade.he is going to rescue the auto industry, turn around the economy, end the wars, and lead america into 21st century prosperity.obama is not a nazi or socialist, you morons! hes a leader
tommyneumann 2 years ago