Ben Bernanke knew an extensive economic mess would result if Bear Stearns was allowed to fail. In particular its failure would have been "felt broadly in the real economy through its effects on asset values and credit availability." He is a world-reknowned professor at Princeton and obviously a smart man. Why, then, was Lehman Brothers allowed to fail? --Very inconsistent government policy.
Listen to what Bernanke is saying very closely... and then consider what is about to unfold with Fannie Mae & Freddie Mac. He acknowledges that the reason for the ILLEGAL bailout of Bear Stearns is risk of systemic credit crisis. FANNIE & FREDDIE ARE TOO BIG TO BAIL. DO THE MATH! The Credit markets are about to go into convulsions. Debt is about to get very expensive very soon...
Rockstar97321 is just scratching at the surface of the international banking cartels. The International banks back the World bank and many govenments around the world. They have the money to back these large loans and collect their debt by several means; regulate interest in their favor, control other banks to thwart competition, give and get favors to gain political stability.
I can't seem to find the full version of this. I watched it on CSPAN but didn't record it. It was amazing...some of the stuff they said would make you sell everything you had to buy silver coins or gold. Prepare people!
"One reaction is shock that a company that reaffirmed its book value at around $84 on Wednesday can be worth $2 per share four days later on Sunday," said Deutsche Bank analyst Mike Mayo.
At Bear Stearns' 47-story headquarters in midtown Manhattan, many employees said they still couldn't believe that the nation's fifth-largest investment bank is — essentially — out of business...
Employees said there was no meeting to inform employees about what was happening...While no layoffs have been announced, analysts expect that they could be significant..."
Bernanke understands everything I am saying perfectly well. Study this video very carefully. You can tell when someone's lying. He's up there reluctantly lying his ass off; but he's getting a fat paycheck. Look at those men behind him. They are 'backing' him - supporting his lying heart. They've sold their souls to the Borgsters and you can see it in their coal-black eyes. Then look at the puzzled look on the Congresspeople; they haven't got a clue. They don't understand banking at all.
Besides that, the original Constitution said that only the nation had the authority to make the money. It took a constitutional amendment (that was not legally ratified) to allow a private bank (the Federal Reserve) to supply the nation's money via loans.
All of this and a whole lot more is in 'The Money Masters' free on youtube and video dot google dot com. This is not a screwball conspiracy theory. It's Anerican history.
And you were asked to explain all of banking by whom? You know all of banking. The meanderings of hundreds of websites determine what is fact. You expect someone else to research your Marvel Comics notion of economics. The presumptive sophistry and self-important grumbling are impressive if you're in the third grade. Otherwise, you need to find some company for your cranial neuron. Nobody's born that stupid. You work at it.
Well, stew4lunch, you have obviously not watched the Money Masters video or done ANY research for that matter. I assume you at least understand that the nation gets it's money by borrowing from the Federal Reserve. How then, could there possibly be a national debt if we're simply borrowing 'from ourself' as you claim?
And you were asked to explain all of banking by whom? You know all of banking. The meanderings of hundreds of websites determine what is fact. You expect someone else to research your Marvel Comics notion of economics. The presumptive sophistry and self-important grumbling are impressive if you're in the third grade. Otherwise, you need to find some company for your cranial neuron. Nobody's born that stupid. You work at it.
Stew4lunch and DAusc90: Sorry I did not explain all of banking in 500 characters or less. 'The Money Masters' youtube video explains it in 3 hours. I suggest you watch it. Hundreds of websites back up the FACT that the Federal Reserve is a private banking cartel. How the hell can you go in debt if you don't borrow? and the USA is in huge debt. It's too bad your words are not sweet; you are going to eat them. Just type in 'Federal Reserve' in that search box up there. Bon Appetite!
DAusc90: That's funny. You were trying to convey the meaning that you 'couldn't care less'; but you said, 'you could care less' which is the exact opposite of what you meant. You're probably better off backing off. You haven't a clue about banking. You think you can borrow money from yourself. It's hard to argue with that sort of logic.
DAusc90: Since you brought it up, I had 2 college degrees in Business Administration (a 2 year degree and a 4 year degree) including a full year of college-level economics (equivalent to 3 years of high-school economics) and a term of labor economics before you were even born. How many economics classes have you had? Have you even been to college? You claim to be only 17 years old on you Youtube page.
I KNOW the government is in debt. I never said the government was not in debt. But YOU can't tell me where the government goes to get it's loans because you refuse to admit that the Federal Reserve HAS TO BE a private banking cartel.
The primary source of money for the USA is a private banking cartel known as the Federal Reserve. On rare occasion, we borrow from other private banks in other countries; but almost every nation in the world is in the same horrible condition that we are in - Borglike banksters have shaken down the polititions and muscled their way into forcing the nation to not print their own money and borrow from them, the banksters. It has been this way for hundreds of years.
How much sense does it make to you for a nation to borrow money from any outside source - any outside source - when it has the sovereign right as a nation to make it's own money? Put another way. . .If YOU were in charge, would you borrow, and be in bondage to pay back the money some day, plus interest? Or would you print the money yourself and tell the bank to go to hell?
Making the money yourself increases inflation, the last thing you want in a recession. This, as you know, causes stagflation- every economists worst nightmare.
A nation needs to print it's own money. Making TOO MUCH money causes problems. Making just the right amount does not. Most nations, like the USA, make no money at all. The Treasury prints the money and then sells it to the Federal Reserve for about the cost of printing, regardless of the denomination. The Federal Reserve was formed in 1913. The markets crashed and war broke out soon thereafter; the Banksters bought the nation's industry for pennies on the dollar and made billions on the war.
Good plan - an ad hominem attack when you have no idea what you're talking about; and you cannot answer my questions; because you are up to your eyeballs in the disinformation from TV and the public screwel system. Don't bother educating yourself by watching any of the videos on banking on my youtube site. You are 17; and you know everything!
You're showing classic signs of a mental disorder. As you have been saying, everyone besides yourself is corrupt, and with few exceptions. Might I suggest treatment?
Corporate welfare. When the poor go on welfare it is called socialism and a liberal idea. When the rich go on welfare its business as usual. Anyone one see a problem here?
Inflation is a problem that cannot be brushed aside amid the clamour for interest rate cuts. The Reserve Bank of New Zealand is under pressure right now from a wide range of business leaders and commentators who want it to cut the official cash rate from 8.25% to give the economy a boost.
The USA borrows it's entire budget from a PRIVATE bank called the Federak Reserve. Why the hell do we borrow money from a self-serving private bank when We, The People, as a nation have the constitutional authority to print and distribute our own money? The Federal Reserve: It's not federal; and there is no reserve. Disband this criminal enterprize immediately. Sieze all it's assets. And throw the crooks running it and the congressmen supporting it behind bars where they belong!
Because without the Federal Reserve, the whole economy. Besides of which, the Federal Reserve is just that- federal, and it is a reserve. You're a fool who has no idea what he's talking about.
DAusc90: You think that the Federal Reserve is Federal. Wow. Then how, pray tell, do we borrow from ourselves and make this huge national debt that we have to try to pay off? How much sense does that make? How does that work? What ARE you smoking? A child can understand that you can only borrow from others and not from yourself. That's what 'borrowing' means. It takes two parties to have a borrowing situation. You are the one who is fooled by what it says on private Federal Reserve paper.
And you're the only one who is fooled by a conspiracy theory. First off, borrowing money. The government does have the power to borrow money and spend money we don't have. The government, so you know, does not control every single dollar in circulation. As far as printing more to cover costs, that would cause inflation. The government cannot pay all of its debt, none can.
The FED is a federal group designed primarily to regulate the economy through interest rates. They do perform other tasks.
1. For operating a Fiat "Central Bank" which does not "coin" "gold & silver" as per ART I
2.hypothecating the fiat dollar to monstrous levels that are now shaking the economy
3. WORST - insider deal J.P.MORGAN, a member of the Fed. Res. gives itself a $230 billion loan to buy Bear Stearns at $2. which weeks earlier had been over $150 per share. Why not give every America = shares at $2? Conflict of interest? Depreciating savings? Fraud? Collusion? conspiracy to deFraud? just start of WHY?
Protecting a huge business whose collapse could push us into a sever recession is now unethical? Morever, our Fiat currency has little or nothing to do with our current economic situation. The problem lies mostly with private banks who were not cautious with financing and loan policies.
DAusc90: You need to understand the much, much bigger picture: The Federal Reserve is a private banking cartel. Back when the USA made it's own money, as opposed to what we do now - which is borrow from the private Fed that makes money out of thin air, there was no income tax. None was needed; because there was no loan interest to pay, the tarrifs on imports paid almost all the bills, and the USA was not feeding a Borglike Bank. 99% of Youtube videos support my view while opposing yours. LOOK!
Borrow a million and the bank owns you. Borrow a billion and you own the bank.
This old saw is the essence of Benranke's testimony. America will never prosper again. The Fed has established a precedent for every over-eager, incompetent financial manager to whine, "You bailed out Bear Sterns, you have to bail me out too."
Who's paying for this buyout? Join us. Fill out your 1040 with red ink.
Your idiotic oversimplification notwithstanding, the Fed has never existed to save us from economic collapse. It's supposed lend to a troubled institution to prevent our getting anywhere near that point in the first place, not clean up the mess post facto. It is indeed, among many things, chartered to keep the economy strong. The Bear Stearns case is testament to failure of that mission. The Fed's solution now? Increase M1. Enjoy your inflation, courtesy of Bernanke and the BOG.
... he works for the banks... the big banks...
perlaand 1 year ago
Ben Bernanke knew an extensive economic mess would result if Bear Stearns was allowed to fail. In particular its failure would have been "felt broadly in the real economy through its effects on asset values and credit availability." He is a world-reknowned professor at Princeton and obviously a smart man. Why, then, was Lehman Brothers allowed to fail? --Very inconsistent government policy.
real998877 3 years ago
FAIL
jackstevison 3 years ago
Federal Reserve "System" owns the world....and they are going to make it worth nothing.
cincye 3 years ago
Listen to what Bernanke is saying very closely... and then consider what is about to unfold with Fannie Mae & Freddie Mac. He acknowledges that the reason for the ILLEGAL bailout of Bear Stearns is risk of systemic credit crisis. FANNIE & FREDDIE ARE TOO BIG TO BAIL. DO THE MATH! The Credit markets are about to go into convulsions. Debt is about to get very expensive very soon...
dubdubdub(dot)RGEMONITOR(dot)com
rotinek 3 years ago
Rockstar97321 is just scratching at the surface of the international banking cartels. The International banks back the World bank and many govenments around the world. They have the money to back these large loans and collect their debt by several means; regulate interest in their favor, control other banks to thwart competition, give and get favors to gain political stability.
DanNabbith 3 years ago
I can't seem to find the full version of this. I watched it on CSPAN but didn't record it. It was amazing...some of the stuff they said would make you sell everything you had to buy silver coins or gold. Prepare people!
markayler 3 years ago
I dont know, I read somewhere they would actually be throwing their silver and gold in the streets ;P
KARStarla 3 years ago
"One reaction is shock that a company that reaffirmed its book value at around $84 on Wednesday can be worth $2 per share four days later on Sunday," said Deutsche Bank analyst Mike Mayo.
At Bear Stearns' 47-story headquarters in midtown Manhattan, many employees said they still couldn't believe that the nation's fifth-largest investment bank is — essentially — out of business...
ikekll 3 years ago
Employees said there was no meeting to inform employees about what was happening...While no layoffs have been announced, analysts expect that they could be significant..."
(With JPMorgan deal to rescue Bear Stearns, market wonders what's next-THE ASSOCIATED PRESS)
ikekll 3 years ago
Bernanke understands everything I am saying perfectly well. Study this video very carefully. You can tell when someone's lying. He's up there reluctantly lying his ass off; but he's getting a fat paycheck. Look at those men behind him. They are 'backing' him - supporting his lying heart. They've sold their souls to the Borgsters and you can see it in their coal-black eyes. Then look at the puzzled look on the Congresspeople; they haven't got a clue. They don't understand banking at all.
Rockstar97321 3 years ago
Besides that, the original Constitution said that only the nation had the authority to make the money. It took a constitutional amendment (that was not legally ratified) to allow a private bank (the Federal Reserve) to supply the nation's money via loans.
All of this and a whole lot more is in 'The Money Masters' free on youtube and video dot google dot com. This is not a screwball conspiracy theory. It's Anerican history.
Rockstar97321 3 years ago
Rs
And you were asked to explain all of banking by whom? You know all of banking. The meanderings of hundreds of websites determine what is fact. You expect someone else to research your Marvel Comics notion of economics. The presumptive sophistry and self-important grumbling are impressive if you're in the third grade. Otherwise, you need to find some company for your cranial neuron. Nobody's born that stupid. You work at it.
stew4lunch 3 years ago
Well, stew4lunch, you have obviously not watched the Money Masters video or done ANY research for that matter. I assume you at least understand that the nation gets it's money by borrowing from the Federal Reserve. How then, could there possibly be a national debt if we're simply borrowing 'from ourself' as you claim?
Rockstar97321 3 years ago
Au contraire. Never made the claim.
And you were asked to explain all of banking by whom? You know all of banking. The meanderings of hundreds of websites determine what is fact. You expect someone else to research your Marvel Comics notion of economics. The presumptive sophistry and self-important grumbling are impressive if you're in the third grade. Otherwise, you need to find some company for your cranial neuron. Nobody's born that stupid. You work at it.
stew4lunch 3 years ago
Stew4lunch and DAusc90: Sorry I did not explain all of banking in 500 characters or less. 'The Money Masters' youtube video explains it in 3 hours. I suggest you watch it. Hundreds of websites back up the FACT that the Federal Reserve is a private banking cartel. How the hell can you go in debt if you don't borrow? and the USA is in huge debt. It's too bad your words are not sweet; you are going to eat them. Just type in 'Federal Reserve' in that search box up there. Bon Appetite!
Rockstar97321 3 years ago
You've already proved your own appetite for conspiracy theories. In all honesty, I could care less.
DAusc90 3 years ago
DAusc90: That's funny. You were trying to convey the meaning that you 'couldn't care less'; but you said, 'you could care less' which is the exact opposite of what you meant. You're probably better off backing off. You haven't a clue about banking. You think you can borrow money from yourself. It's hard to argue with that sort of logic.
Rockstar97321 3 years ago
The goverment isn't borrowing money from itself, you clueless fool. Honestly, did you ever even take a high school economics course?
DAusc90 3 years ago
DAusc90: Where do you think the government borrows money from? Do you think the government borrows money from the Federal Reserve?
Rockstar97321 3 years ago
DAusc90: Since you brought it up, I had 2 college degrees in Business Administration (a 2 year degree and a 4 year degree) including a full year of college-level economics (equivalent to 3 years of high-school economics) and a term of labor economics before you were even born. How many economics classes have you had? Have you even been to college? You claim to be only 17 years old on you Youtube page.
Rockstar97321 3 years ago
Hey, I'm not the one going around saying it's impossible for a goverment to be in debt. \
God this is hilarious...
DAusc90 3 years ago
I KNOW the government is in debt. I never said the government was not in debt. But YOU can't tell me where the government goes to get it's loans because you refuse to admit that the Federal Reserve HAS TO BE a private banking cartel.
Rockstar97321 3 years ago
For the millionth time, our goverment takes loans from other countries. It also spends money it doesn't have, but you know that already.
DAusc90 3 years ago
The primary source of money for the USA is a private banking cartel known as the Federal Reserve. On rare occasion, we borrow from other private banks in other countries; but almost every nation in the world is in the same horrible condition that we are in - Borglike banksters have shaken down the polititions and muscled their way into forcing the nation to not print their own money and borrow from them, the banksters. It has been this way for hundreds of years.
Rockstar97321 3 years ago
How much sense does it make to you for a nation to borrow money from any outside source - any outside source - when it has the sovereign right as a nation to make it's own money? Put another way. . .If YOU were in charge, would you borrow, and be in bondage to pay back the money some day, plus interest? Or would you print the money yourself and tell the bank to go to hell?
Rockstar97321 3 years ago
Making the money yourself increases inflation, the last thing you want in a recession. This, as you know, causes stagflation- every economists worst nightmare.
DAusc90 3 years ago
A nation needs to print it's own money. Making TOO MUCH money causes problems. Making just the right amount does not. Most nations, like the USA, make no money at all. The Treasury prints the money and then sells it to the Federal Reserve for about the cost of printing, regardless of the denomination. The Federal Reserve was formed in 1913. The markets crashed and war broke out soon thereafter; the Banksters bought the nation's industry for pennies on the dollar and made billions on the war.
Rockstar97321 3 years ago
Wow, thats the biggest load of bullshit thats ever been posted on youtube. My congratulations, this is a prestigious award.
DAusc90 3 years ago
Good plan - an ad hominem attack when you have no idea what you're talking about; and you cannot answer my questions; because you are up to your eyeballs in the disinformation from TV and the public screwel system. Don't bother educating yourself by watching any of the videos on banking on my youtube site. You are 17; and you know everything!
Rockstar97321 3 years ago
You're showing classic signs of a mental disorder. As you have been saying, everyone besides yourself is corrupt, and with few exceptions. Might I suggest treatment?
DAusc90 3 years ago
Corporate welfare. When the poor go on welfare it is called socialism and a liberal idea. When the rich go on welfare its business as usual. Anyone one see a problem here?
redviper101 3 years ago 4
i agree with rockstar. dausc90 has no clue!
redislk 3 years ago
Inflation is a problem that cannot be brushed aside amid the clamour for interest rate cuts. The Reserve Bank of New Zealand is under pressure right now from a wide range of business leaders and commentators who want it to cut the official cash rate from 8.25% to give the economy a boost.
Here's why an early cut would be dangerous.
ofInterestNZ 3 years ago
The USA borrows it's entire budget from a PRIVATE bank called the Federak Reserve. Why the hell do we borrow money from a self-serving private bank when We, The People, as a nation have the constitutional authority to print and distribute our own money? The Federal Reserve: It's not federal; and there is no reserve. Disband this criminal enterprize immediately. Sieze all it's assets. And throw the crooks running it and the congressmen supporting it behind bars where they belong!
Rockstar97321 3 years ago
Because without the Federal Reserve, the whole economy. Besides of which, the Federal Reserve is just that- federal, and it is a reserve. You're a fool who has no idea what he's talking about.
DAusc90 3 years ago
DAusc90: You think that the Federal Reserve is Federal. Wow. Then how, pray tell, do we borrow from ourselves and make this huge national debt that we have to try to pay off? How much sense does that make? How does that work? What ARE you smoking? A child can understand that you can only borrow from others and not from yourself. That's what 'borrowing' means. It takes two parties to have a borrowing situation. You are the one who is fooled by what it says on private Federal Reserve paper.
Rockstar97321 3 years ago
And you're the only one who is fooled by a conspiracy theory. First off, borrowing money. The government does have the power to borrow money and spend money we don't have. The government, so you know, does not control every single dollar in circulation. As far as printing more to cover costs, that would cause inflation. The government cannot pay all of its debt, none can.
The FED is a federal group designed primarily to regulate the economy through interest rates. They do perform other tasks.
DAusc90 3 years ago
Some one ARREST Bernanke and the Board of Dir. of the Federal Reserve Bank. ARREST, INDICT, CONVICT, EXECUTE these
SCUMbag looters.
superpencil007 3 years ago
For what? Doing their job? Protecting the economy?
DAusc90 3 years ago
1. For operating a Fiat "Central Bank" which does not "coin" "gold & silver" as per ART I
2.hypothecating the fiat dollar to monstrous levels that are now shaking the economy
3. WORST - insider deal J.P.MORGAN, a member of the Fed. Res. gives itself a $230 billion loan to buy Bear Stearns at $2. which weeks earlier had been over $150 per share. Why not give every America = shares at $2? Conflict of interest? Depreciating savings? Fraud? Collusion? conspiracy to deFraud? just start of WHY?
superpencil007 3 years ago
Protecting a huge business whose collapse could push us into a sever recession is now unethical? Morever, our Fiat currency has little or nothing to do with our current economic situation. The problem lies mostly with private banks who were not cautious with financing and loan policies.
DAusc90 3 years ago
DAusc90: You need to understand the much, much bigger picture: The Federal Reserve is a private banking cartel. Back when the USA made it's own money, as opposed to what we do now - which is borrow from the private Fed that makes money out of thin air, there was no income tax. None was needed; because there was no loan interest to pay, the tarrifs on imports paid almost all the bills, and the USA was not feeding a Borglike Bank. 99% of Youtube videos support my view while opposing yours. LOOK!
Rockstar97321 3 years ago
Borrow a million and the bank owns you. Borrow a billion and you own the bank.
This old saw is the essence of Benranke's testimony. America will never prosper again. The Fed has established a precedent for every over-eager, incompetent financial manager to whine, "You bailed out Bear Sterns, you have to bail me out too."
Who's paying for this buyout? Join us. Fill out your 1040 with red ink.
stew4lunch 3 years ago 2
So the FED should just let our economy collapse, is that what idiots like you think? WHY IN THE WORLD DO YOU THINK THEY EXIST IN THE FIRST PLACE?
DAusc90 3 years ago
Your idiotic oversimplification notwithstanding, the Fed has never existed to save us from economic collapse. It's supposed lend to a troubled institution to prevent our getting anywhere near that point in the first place, not clean up the mess post facto. It is indeed, among many things, chartered to keep the economy strong. The Bear Stearns case is testament to failure of that mission. The Fed's solution now? Increase M1. Enjoy your inflation, courtesy of Bernanke and the BOG.
stew4lunch 3 years ago
Oh come on. Just another step toward the argument for the Amero. Wake up.
ItalianIrishDude 3 years ago 2
Bernanke, there IS NO defense-
only fraud!
ikekll 3 years ago
What's next?
Some outlandish idea to expand the power of the private Federal Reserve Bank of Corporate?
Nah, that won't ever happen!
ikekll 3 years ago
Did he even mention the phrase "moral hazard" in his testimony?
theredkap 3 years ago