Is Ben Bernanke Really Stupid?

helicopter-ben-bernanke-is-stupidSimple Question, is Ben Bernanke really as stupid as his actions would deem one to think?

Read this post below for your answer and decide for yourself just how much of an idiot helicopter Ben really is (and how stupid Obama and the Congress might be for allowing his charade to continue):

Bernanke, You Stupid Bastard

There, you read it there today, but if you had been reading The Casey Report then nothing in that column would surprise you AND you would be PROFITING from the disaster as it unfolds.

An Investment Newsletter You Cannot Afford NOT to Read

Please Note: In the cartoon above, Helicopter Ben Bernanke is only throwing money out over the top of Wall Street and his favorite Wall Street banking crook friends.

Ben Bernanke – He Was So Wrong He Was ReAppointed

All I can say is that if I was this wrong in my job, I would be out of a job, not reappointed to another term to one of the most powerful jobs in the world. Maybe even sued.

Ben Bernanke was so arrogant in this video, so all knowing, “I don’t even agree with your premise” (that there is a potential housing bubble).

“We’ve never had housing prices decline on a nationwide basis” (therefore it absolutely cannot happen in the future).

What a jackass (IMHO). What a liar, or what an idiot; is there another option?

So what does the President do, what does Congress allow? They reappoint this arrogant disaster to another term as Federal Reserve Chairman with a huge salary, benefits, and unimaginable power and future earning potential.

Don’t argue that he couldn’t tell the truth because it would roil markets. There are ways he could have done that and implied caution, at the minimum. Instead, he encouraged more of the same.

Helicopter Ben Bernanke should have been fired, not reappointed.

Why Does Anyone Listen To Ben Bernanke?

ben-bernanke-with-headacheFor a while today, the stock market was up in part based on some reassuring words from “helicopter” Ben Bernanke, Chairman of the Federal Reserve.

The man known as “The Bearded One” stated that his institution, the Federal Reserve, would do “whatever is necessary” to keep this recovery rolling along.

Now, those of you without a job or working way below your normal pay grade may dispute that we are even in a recovery, but the economists say we are.

And the economists know what they are talking about, right? They routinely score 4% higher in accuracy than the weatherman does.

Why the Chairman of an institution that should have no credibility whatsoever in the first place even gets a microphone to talk into is confusing.

The ONE mandate of the Federal Reserve upon its creation was to protect the value of the currency of the United States Of America, the U.S. Dollar; aka almighty buck.

How have they done?

Hmm, not so good.

Perhaps “helicopter” Ben is respected for his short term clarity & grasp of the coming financial collapse, the worst since the Great Depression (and it ain’t over yet).

Here are some of Mr. Bernanke’s wise statements with dates:

“At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,”  Ben Bernanke, March 28, 2007

“It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions. “  Ben Bernanke, October 15th, 2007

“[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself.” Ben Bernanke, January 18, 2008

On Freddie and Fannie, two months before they were taken over: “They will make it through the storm,” “… in no danger of failing,” “…adequately capitalized.“ Ben Bernanke, July 16th, 2008

Ok, so is this guy really that stupid? Here are the two options:helicopter-ben-bernanke

a) He really did not see any of the problems coming, even though dozens of great economists did and were not only vocal about it but even wrote open letters to him. So, why would you listen to him now?

b) He is incredibly intelligent and knew exactly what would happen, but not only was he powerless to prevent the chaos (it would have been worse if he weren’t so smart) but he couldn’t speak the truth publicly because of how the markets would react. In which case, if he didn’t tell the truth then, why would you listen to him now?

Well, obviously his impact on the markets today was muted, they ended the day down…

If you want to protect yourself financially then maybe you should be listening to the people who DID predict the events we have seen and are making forecasts now about what to expect on the horizon..

AND…

More importantly, what to do about it to position yourself properly.

Try a Risk Free Trial of The Casey Report. They are currently telling subscribers how to NOT get clobbered by the back side of this financial storm and profit instead.

Senator Jim Bunning Becoming Another Ron Paul?

Senator Jim Bunning, former Phillies pitcher, is a guy I previously didn’t even know was in elected office. I know now.

Reportedly he has spoken his mind to none other than Federal Reserve Board Chairman Ben Bernanke at Big Ben’s appearance on the Hill recently:

“Thank you, Mr. Chairman. I know we have a lot of ground to cover today, but I want to say a few things on the topic of this hearing and of the next.

“First, on monetary policy, I am deeply concerned about what the Fed has done in the last year and in the last decade. Chairman Greenspan’s easy money the late nineties and then following the tech bust inflated the housing bubble and created the mess we are in today. Chairman Bernanke’s easy money in the last year has undermined the dollar and sent oil to new record highs every few days, and almost doubling since the rate cuts started. Inflation is here and it is hurting average Americans.

“Second, the Fed is asking for more power. But the Fed has proven they cannot be trusted with the power they have. They get it wrong, do not use it, or stretch it further than it was ever supposed to go. As I said a moment ago, their monetary policy is a leading cause of the mess we are in. As regulators, it took them until yesterday to use power we gave them in 1994 to regulate all mortgage lenders. And they stretched their authority to buy 29 billion dollars of Bear Stearns assets so JPMorgan could buy Bear at a steep discount.

“Now the Fed wants to be the systemic risk regulator. But the Fed is the systemic risk. Giving the Fed more power is like giving the neighborhood kid who broke your window playing baseball in the street a bigger bat and thinking that will fix the problem. I am not going to go along with that and will use all my powers as a senator to stop any new powers going to the Fed. Instead, we should give them less to do, so they can do it right, either by taking away their monetary policy responsibility or by requiring them to focus only on inflation.”

I received this info second hand, but hopefully it is accurate.

If so, three cheer for Senator Bunning!

Thanks to David Galland at Casey Research for passing this along in his weekly missive “The Room”, a side benefit to all Casey Research subscribers.

Return to a Gold Standard?

You would kind of think that since Ron Paul’s presidential candidacy is no longer grabbing any headlines that any talk of a gold standard would be only in the confines of the Libertarians among us – and only wistfully then.

But in the last few weeks there have been no less than five mainstream news outlet stories on the potential benefit that would be derived from a return to some type of gold standard. Two of these came from the Council on Foreign Relations – not known to be friends of Libertarians but rather potential conspirators; one from the Asis Times and no less than two from the Wall Street Journal. Here is a link to the latest article.

The writer in the WSJ points out how the dollar has declined in value so much over the last few years, especially against the Euro, that Americans are in effect paying a hefty 50% tariff on imported goods. Not only that, but struggling east European countries whose currency is tied to the falling dollar are struggling to make free enterprise work and have to battle huge inflationary forces exacerbated by the decline in value of the U.S. Dollar.

It’s the solution posited and final statement of the article that caught me by surprise. Referencing Federal Reserve Chairman “helo” Ben Bernanke’s rhetoric about a strong dollar (while trading his capital for near worthless securities in hopes of rescuing foolish, greedy bankers), the comment is made that “A gold standard beats a gab standard”.

Really?

Isn’t the WSJ one of those promoters of Wall Street’s mantra about gold and silver being ancient relics with no utility in an investment portfolio? My how times change.

My advice is not to just sit back and read the news of the calamity falling around you. Take a look at the work from Casey Research and the guys at the Trend Letter.

Ron Paul Gives Ben Bernanke A Lecture About Value Of Dollar

Watch this short video showing Ron Paul reply to Bernanke’s statement about the Fed not being responsible for the value of the dollar, only stable prices.
[youtube=http://www.youtube.com/watch?v=gldETRlhiXk]
Ron Paul argues that it’s impossible to have stable prices if the money you price things in isn’t stable. Bernanke smirks during Paul’s lecture but in the end essentially and reluctantly admits that Ron Paul is right.

How do you protect yourself from this government meddling? I know how I do. I invest with Big Gold at my side.

Jim Rogers says “Abolish the Fed”

Jim Rogers agrees with Ron Paul: “Abolish the Fed”

Jim Rogers, legendary investor extraordinaire, not only says we will have a recession anyway in spite of the Federal Reserve’s huge rate cut and buying garbage mortgages from troubled banks, but that they are doing more harm to America’s 300 million citizens than good.

Ron Paul said it in the video I posted the other day, Jim Rogers is saying it too. It may seem helpful in the short run, but dollar weakness and inflation will result in the long run.

Recessions are a healthy way to eliminate excesses, trying to prevent one will just make it more painful in the end.

See the video here.

Interestingly enough, Jim Rogers recommends in the video some of the very same ways of profiting in this malaise as Doug Casey of Casey Research.

Do yourself a favor and check out the International Speculator.