Jon Stewart provides a humorous look at Ben Bernanke and the Federal Reserve, focusing his efforts on explaining Quantitative Easing to the layperson. Stewart quotes Ben Bernanke from two separate interviews, roughly 21 months apart.
In his most recent 60 Minutes interview Ben Bernanke explains QE and downplays what the Fed is actually doing:
“One myth that’s out there is what we’re doing is printing money. We’re not printing money.”
Clearly, the pressure from alternative media, the anti-Fed movement, and foreign governments, which argue that the Fed is destroying the dollar through money printing, is having an effect and forcing the Fed to redefine their definition of QE. In his previous interview with 60 Minutes from 2009, Bernanke contradicts the statement he made this week:
To lend to a bank we simply use the computer to mark up the size of the account that they have with the Fed. So, it’s much more akin, although not exactly the same, to printing money than it is borrowing. Well, effectively [we’ve been printing money]. And we need to do that.
Jon Stewart, whose show has millions of viewers, has spent time on and off for the past year interviewing guests like Peter Schiff and Elizabeth Warren about the financial crisis. And while we wouldn’t necessarily calls his Daily Show a news organization, there are millions of Americans who think it is just that.
Perhaps at least a handful of viewers will realize that this is no laughing matter and that these policies may very well lead to the Zimbabwe-style hyperinflation Stewart mentions in the following clip.
Watch the 4 minute Daily Show clip:
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c |
| The Big Bank Theory | |
Hat tip Market Ticker
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Wow, even Jon Backward is starting to “get it”. I still don’t think his Koolaid followers will “get it”.
” And while we wouldn’t necessarily calls his Daily Show a news organization, there are millions of Americans who think it is just that.”
Which merely shows the shape this country is in, when a faux news/comedy show actually reports the truth, and ‘award winning’ shows like 60 Minutes and CNBC that are, in theory, ACTUAL news show turn out to be simply shills for the ministry of propaganda.
People shouldn’t be disappointed with Bernanke any more than they should be disappointed with a dog humping your leg…..it’s what dogs and Chairmen of the banking cartel do…..what coming natural…..lie in the case of Chairmen.
Where they SHOULD be incensed is with so called “reporters” who don’t do their job……spoon feed softball questions, and then get a pat on the back for it.
Comments….. That was hilarious to watch! Yes millions of people watch that and what are they going to do with the information? What can they do? They can do nothing. The Feds have everyone by the balls. The power must be numbing to Bernanke. This scheme of his isn’t going to work.Â
Isn’t his brother the head of the NYSE?
Not funny…but LMFAO at the video
Now there are “rumors” of the gov. “securing the internet”. To monitor activity from such as our web.. OMG! I ‘m not stupid and am very careful as to what I share but… but how will the survalist communicate? Go back to horseback and messages written by a carrier!!! That way? Somebody smarter than me needs to figure out a way of communicating with others with like mindset. Trying my best to remain optimistic. I feel as though I am so much in the minority right now and there is a possibility I cannot “reach out” when I need support. Oh well, I am a survivalist by nature and WILL make it if I have to. Got to get away from this for a day or to so I can pray and breathe and love life for now! Thanks everyone! Would love to be  in one place at one time with you guys…but I know that is not possible! Hope for the best and do what you can to take care of your family and others if it comes down to it.
As I’ve said before, all fiat currencies will eventually fail…not because there is inherently anything wrong with fiat currencies…
…but because the world’s central banks are run by jackasses.
The Fraud in So Vast, Known and Admitted…
Not Being Anti-Fed is Being Pro Al Capone
Don’t Be Fooled
It’s a ONE PARTY POLITIC
Under The Double Eagle
A Nation Divided DEM v REP
A Nation United The Democratic Republican Party
sovereignthink.wordpress.com/2010/12/08/a-nation-divided-dem-v-rep-a-nation-united-the-democratic-republican-party/
http://sovereignthink.wordpress.com/2010/11/16/dollar-dead-world-reserve-bankrupt-greenspan-admits-it-was-all-a-scam-fraud/
-sovereignthink
Very funny video! Just remember people that all the money generated from QE2 is going into the FED reserve system to prop up the bankster gangsters …. again, to help them meet their reserve requirements as they absorb additional loan losses. No collapse. No hyperinflation. Inflation by a thousand cuts.
It will never reach the masses as the banks are not making loans anyway; just profits to PREP them for the continuing, unfolding mortgage mess: MM2.
Just another bailout folks, go back to sheep.
People who watch the Jon Stewart show, are not serious about politics or they know very little about politics. They are mostly freshman college age or those who have nothing better to do.Â
People say Stewart tries too hard to make it funny and that’s why he is usually not.
The US has shut down a lot of commercial websites without any warning. But when it came to WikiLeaks, they’ve disclosed US Classified information, the government said they could not do anything.Â
WikiLeaks disclosed hundreds of Classified documents (including military) and Correspondence between foreign diplomats and the US State department (which Good OL Hillary In-Charge …. Go figure!!!)
Â
More interesting shadowy facts about WikiLeaks owner, Julian Assange.
WikiLeaks Founder “Exposed as a Fraud”
http://revolutionarypolitics.tv/video/viewVideo.php?video_id=13261&title=wiki-leaks-founder-exposed-as-a-fraud
Durango Kidd, you said:Â
“The banks will have to be nationalized eventually, and initially, to eliminate the FED. They can be recapitalized by issuing new stock to private investors, like GM.â€
Â
REALLY????
1.     We are moving much closer to that stage – Nationalized Banks. And they are, the big Six investment banks, Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup, Bank of America and Wells Fargo - These banks are “Shorting the American Dream,†according to economist Simon Johnson and entrepreneur James Kwak.Â
2.     Each of these banks is another arm of the Fed. They all received money from the FIRST Bailout, $800 billion bailout.
3.     And 95% of stocks are owned by billionaires; the little people have no money and are left out and have nothing to say about the company.
4.     A Communist country = Nationalized banks, nationalized healthcare, and all industries are nationalized.
Â
Jane: For all intents and purposes, the banks were nationalized (at least their debt) and as usual, the American people were shafted because the banksters got to keep their stock.
For all of that money (800 Billion) we should have gotten the stock of those banks to resell to billionaires with real money; like we did and are doing with GM.
QE2 is bailout two.
By what mechanism would you suggest we eliminate the FED, if we don’t nationalize the banks first?
Comments….. If you, people are still asleep, maybe an
bigger horn will wake you up: QE3
Copied from Yahoo
“Well the one that was so rude as to suggest that Obama saved all those jobs, should search a little more. It was a government take over, in place of GM going to Bankruptcy as it should have, that is why the constitution set up the Bankruptcy Courts. That is the standard procedure for all business, and private persons, who are failing because of their mismanagement of their business or home finances.
.
GM officials portrayed the bankruptcy — No. 2 in asset size among industrial concerns to WorldCom’s filing in 2002 — As an unprecedented opportunity to reverse decades of decline. GM said it would close 17 factories and parts centers and lop off 20,000 more jobs by the end of 2011 in Michigan, Indiana, Ohio, Tennessee and other states.
.
The government-orchestrated shrinkage will cost taxpayers $30 billion, on top of $20 billion in U.S. funds already put into the company. In exchange, the U.S. will own 60% of the new GM.
In all, the rescue of the car industry could cost taxpayers close to $100 billion.
__________________________________
No matter how you spin it, it was a government takeover. If you own 51 % or more of any company, you have control. Thus you own it. The only people that benefited from our buying GM, was the union, The stock holders lost, the Tax payers lost. The mismanagement of the company is due to them bowing to the power of the union. And paying outrageous wages, and the union being able to keep all their benefit packages. And use the members dues to support Obama, and his robber barons. You don’t hear anybody crying about all the millions that the Unions get and spend, often times without the OK of its members.
.
Government Takeover of GM ‘Just Short of Socialism,’ Economists Say
Wednesday, June 03, 2009
By Adam Brickley
.
The Obama administration has taken over a private owned company and fired its CEO and board of directors without the constitutional authority to do so.
.
This is not supposed to happen in America. The government has no authority in the constitution to take control of a private owned company or fire its staff or decide what to do with its assets.
.
Author’s comment: “This should give you some more incite, and the links are worth reading, if you have any interest in learning just how we are losing our rights and property with the way the evil three. Obama, Pelosi, Reid are robbing us. And usurping the Constitution.â€
The fact that Steward is waking up to the whole mess should give us a clue that things are about to get worse in the economy.Â
I have a list of 118 euphemisms for “printing money” and growing. Bernanke used “crediting a bank’s reserve account” which is #21.
http://howfiatdies.blogspot.com/2010/11/euphemisms-for-printing-money.html
Durango Kidd said, “Just remember people that all the money generated from QE2 is going into the FED reserve system to prop up the bankster gangsters … It will never reach the masses…”
Try this on for size:
“…In spite of what Bernanke says, whatever the sellers of the securities do with the new dollars deposited to their accounts – even if they leave them on deposit with the Fed because the Fed is now paying interest for excess reserves – it still frees up other money the sellers can now use for other purposes. And because of the fractional reserve system, there’s a multiplier effect on the added liquidity. Bernanke says that all he’s doing is keeping interest rates down to stimulate the economy, but the way he’s doing it adds to the money supply.”
– Doug Casey on Bernanke: Be Afraid, Be Very Afraid (Part 1)
Vincent Cate had it right too. Only add, “debt creation” to the list as well.
Also, in answer to the question, “By what mechanism would you suggest we eliminate the FED”
They simply end it.
Decentralized money and individuals in a free market will provide a solution, no “mechanism” is required.
It’s the way of doing things that worked quite well for the original 13 Colonies for hundreds of years. And it’s Very American.
Clark: You obviously know nothing about banking yourself. What securities are you talking about, and who are the sellers of those securities?
Don’t copy and paste. Show me your intelligence and analysis instead of taking something out of context and using it as YOUR argument. That’s not just lame, that’s pathetic!
The banks were flooded with cash that they could have loaned had they wanted too, BEFORE QE2. So why the additional cash from the FED?
Like all of BIG Business, the BIG banks are hoarding cash, not loaning it to the masses. If the masses do not borrow that money there is not tons of extra dollars moving through the economy (the velocity of money) chasing too few goods and services, creating the massive hyper inflation that so many of the posters here fear.
The money has been allocated to the member banks to position them for additional loan losses before they go bankrupt, when their losses exceed their reserves. See? Bailout number two by another name.
As for ending the FED, that’s great! But again, you personally have no understanding of the banking system. Your ignorance is showing. There must still be a mechanism to end the FED and establish a National Central Bank instead of the FED Reserve system.
Jane didn’t have an answer to that question and you don’t either. It should have been done when we nationalized the debt of these banks.
Their banking franchise should have been confiscated and sold to new investors and new managers and directors. Instead, we left the owners, managers, and directors of the member banks in place and made good their losses. IE the Bailout.
Nationalization does not mean communism. It means we do not have to let the same unfettered capitalists rape America financially, again.
Durango Kidd, Let make it very clear when you ask a question and ppl or I don’t answer, it’s not necessarily because I don’t know. This is what you said:
“As for ending the FED, that’s great! But again, you personally have no understanding of the banking system…. Your ignorance is showing. “There must still be a mechanism to end the FED and establish a National Central Bank instead of the FED Reserve system…….. Jane didn’t have an answer to that question and you don’t either. It should have been done when we nationalized the debt of these banks.â€
I know very well what has been happening and how corrupt the current government is; and there are many reasons that I did not want to respond to or insult that person or ad fuel to the fire. Â
I have done my part as a citizen and I don’t want to make any left-wing extremists angry at me. CLARK is not an economist and neither do you. All you do is making one false statement after another without any facts to support your statements or your agenda, is unfair.Â
CLARK provided you facts from well-known economists or websites to support his arguments. The websites are for additional warnings and prepping.Â
If you consider his websites as spreading fear, then why are you here???
Durango Kidd said:Â
“By what mechanism would you suggest we eliminate the FED, if we don’t nationalize the banks first? ….There must still be a mechanism to end the FED and establish a National Central Bank instead of the FED Reserve systemâ€Â
Exactly, what are you talking about, huh??
What kind of debt, how much and why should we pay these banks when they create the money out of thin air???
What benefit is there to shutting down the Fed and THEN GO NATIONALIZED or CONSOLIDATE THE DEBT UNDER ANOTHER FANCY NAME OR UNDER A DIFFERENT INSTITUTION or UNDER SIX BIG BANKS???
Jane I agree with your premise regarding the bankster gangsters. You are preaching to the choir. Still, you have not answered the question, “By what mechanism would you suggest we eliminate the FED, if we don’t nationalize the banks first?”
Still waiting for a coherent answer Jane. America must have a banking system. What is your vision for that banking system, and how do we eliminate the existing one and replace it with your vision?
With respect to my debate with Clark, someone still hasn’t shown me where all that money (QE2) is at except on the ledgers of the member banks of the FED waiting to absorb loan losses. Unless that money is disbursed into the economy and begins to circulate, there will be NO hyper-inflation.
I don’t care how respected these “economists” are. If they do not have a PHd then their financial education is no better than mine. I have a BS in Finance, and MBA, and a thousand hours of formal education in seminars and classes; as well as a career in finance and banking management.
I know what I am talking about. You do not. Neither does Clark. And neither of you have been able to put together a coherent analysis to make your point. That is not a personal attack. It is a fact.
As for these noted “economists” they are trying to sell you a subscription, give you an opportunity to get on the ground floor of their real estate deal in Argentina, or teach you how to buy precious metals if you just sign up for their investment news letter for $49.95. a year, special on sale from $295. If you do it in the next 30 seconds they will send you absolutely, FREE, the latest cure for ED!
Give me a break!
Durango Kidd,
On the internet you can claim to be anyone you want? If you claim to be who you say who you are then you need to verify, not just your world. You can’t even make a statement and back it up with facts, all you’re using propaganda  to defend the Fed and the banks.Â
Â
Why should I provide you the answer to my question since you said you already know???? Again, you’ve not answer my questions.
What kind of debt, how much and why should we pay these banks when they create the money out of thin air???
What benefit is there to shutting down the Fed and THEN GO NATIONALIZED or CONSOLIDATE THE DEBT UNDER ANOTHER FANCY NAME OR UNDER DIFFERENT INSTITUTIONs or UNDER SIX BIG BANKS (which behind the scence are actually run by the FED???)
_______________________
Answer my questions, don’t beat around the bush.Â
Don’t answer my questions with my own questions!!!!
Durango Kidd,
Why should I provide you the answer how to riff off the American people, since you said you already know????Â
Additionally, I do not betray my own people or my country.
On the internet you can claim to be anyone you want? If you claim to be who you say who you are then you need to verify it, not just your words. You can’t even make a statement and back it up with facts - You’re using propaganda  to defend the Fed and the banks, that’s dishonest. You could be one of them!!!Â
Â
Again, you’ve not answer my questions.
What kind of debt, how much and why should we pay these banks when they create the money out of thin air???
What benefit is there to shutting down the Fed and THEN GO NATIONALIZED or CONSOLIDATE THE DEBT UNDER ANOTHER FANCY NAME OR UNDER DIFFERENT INSTITUTIONs or UNDER SIX BIG BANKS (which behind the scence are actually run by the FED???)
_______________________
Answer my questions, don’t beat around the bush.Â
Don’t answer my questions with my own questions!!!!
Jane:Â I don’t expect you to provide me an answer because I don’t think you have one.
I am not suggesting that we give money to these banks. That has already been done. The Bailout, remember? I am saying that we should not have rewarded the managers, and directors that drove their banks into inslovency by replacing their capital and covering their losses. Likewise, the shareholders should have lost their stock in the banks as their stock was worthless.
We nationalized the debt of the banks. The American people absorbed the losses for these private banks. We should have shut the banks down, nationalized ownership as well (as we did with GM), put the managers and directors in jail for malfeasance, confiscate the banks remaining property (branches) and let the shareholders take their losses, as their banking franchise was worthless at that point.
The banking system is in effect a “franchisee” operating for a personal profit, but also supposedly for the benefit of the American people; which is why we gave them the right to establish a bank. This is not unlike our air waves, which the lamestream media uses. After confiscating their worthless banking franchise we could have recapitalized the bank, returned it to profitablity and then resold it to new private interests operating at a profit to the America people, under a more regulated system (repealing Glass-Stegall).
See? The answer is not difficult if you know the banking business.
Durango Kidd, Â
YOUR answers have not provided any solution to the problems. This is what we are having right now. All the big six banks are making billions of dollars each year and are now under the FED.Â
The problem are corruption, too much power and are still forcing taxpayers to pay for the FED and his family for the counterfeit money which they have no right to take or create.
.
Your answers are basically that the FED has been doing for years and recently:
-Â Â Â Â Â Â Â Â Gave billions to his puppets or his banks
-        Shut down all other banks that do not belong the FED’s family.
The FED forced WAMU sold the bank to JP Morgan Chase for one billion instead of 12 billion dollars; otherwise was failed and filed bankruptcy. This bank is still belong to the FED, and are now still controlled by the FED and was paid for by the first 800 billion dollars.
Â
It looks to me you don’t have the analytical skill or understand the capitalism and refuse to identify the FED’s corruption and avoid my questions, let me tell you:
Â
Under capitalism, the people should not be forced to pay for the FED’s bailout or the FED’s banks or to pay for his good old boys to start a business. Â
Â
 Again, you’ve not answered my questions. But dare if you answer my questions:
1)What kind of debt are you keep talking about?
2) How much and why should we pay the FED or his banks when they create the money out of thin air???
3) Why should the debt be nationalized and the American people be forced to pay it?
Durango Kidd said “â€Nationalization does not mean communism.â€â€
Yeah, it’s obvious that you lie or don’t understand economics, history or politics and are too stupid to understand how the finances of a country operates.Â
If everything is run or nationalized by the government (GM, welfare, ss , it becomes a socialist state.Â
How could a Capitalist country like the U.S. have so many CZARS??? Here’s a list from newsmax dot com:
Durango Kidd, since you and your party just wants to nationalize everything, read this
Here’s a list from newsmax dot com:
“Obama’s Cars enjoy wide-ranging bureaucratic authority beyond the purview of Congress, earn six-figure salaries, and exhibit political views that reflect a distinct tilt to the left.
They’re called President Obama’s “czars,” special advisers with sweeping powers, and Obama has gone far beyond his predecessors in naming nearly 40 of them to high-level positions. When green jobs czar Van Jones resigned amid controversy over past inflammatory statements, Newsmax opened a special investigation to find out who are Obama’s Czars and what their real agenda is.†_____________________
From health reform czar, border czar, counterterrorism czar, urban czar, and global-warming czar to faith-based czar, domestic violence czar, stimulus accountability czar, Eurasian energy czar, Great Lakes czar, and safe-schools czar, they almost all have several things in common:
They were never elected, they were never confirmed by the Senate, and the have immense power over our government and our lives.
So I choose to vote Republican!!!
Jane; you are so funny! Are you high, or drunk?
I am not advocating czars. 🙂 Neither am I advocating socialism or communism. and I am not advocating that we bail anyone out. That is a recent historical fact. The debt of the banks WAS nationalized.
If we are going to nationalize the debt, then we should have confiscated the branches for the money we gave them; put them in jail for the criminal performance, and then repackaged and resold sold the assets to someone else. America must have a banking system. OUR government gave the bankster gangsters the right to create money out of thin air. I didn’t say I supported that either.
You are a great advocate of capitalism Jane, but hey! Sober up! Your ranting about nothing! Gotta go its Saturday night! 🙂
From theeconomiccollapseblog
1) Barack Obama showed very clearly how he feels about globalism when he made the following statement during his speech in Mumbai during his speech in Mumbai…. Barack Obama: “We must embrace Globalism and the emerging One World Economy.†“There is going to be a tug-of-war within the US between those who see globalization as a threat and those who accept we live in a open integrated world, which has challenges and opportunities.â€
2)Â So if the U.S. DOLLAR and the EURO do collapse, what would happen?
A paper entitled “Reserve Accumulation and International Monetary Stability†by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the “BANCOR” and that a global central bank be established to administer that currency. The report is dated April 13, 2010/// Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy. Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets.
3) “The truth is that the government has become a gluttonous, out of control behemoth that is gobbling up everything in sight and that is attempting to exert full spectrum dominance over our lives. Today, the government seems to have an insatiable hunger to watch us, track us and control us. Now they even want to feel our private parts before we get on an airplane.â€
Durango Kidd,
OMG!! YOU are proven yourself to be a habitual liar.  I am not you, and I don’t live a liberal lifestyle like you; too materialistic (drink, smoke, constantly lying and heartless); YOUR ways are sinful and self-destructed.
Obviously my arguments, observations and my analytical skills are clear and are supported by other economists. That’s why you are unable to argue or provide logic or facts to support your socialist propaganda aka nationalize everything.
So instead, you come up with name-calling and personal insults, because I’ve rejected your proposal to nationalize debt or meet your demands to give you an alternative solution.
In this way bankers can collect debt to infinity and turn this country from socialist (government interfering and control) to communist and finally to One World Order with a stroke of a pen or from Executive Orders.
Â
Comments…..you have to print money as the population grows or there are things needed or added to the game, or a smarter person, is able to corral all the cash with their smartness, and you don’t tax them to get the currency back into the markets….you always have had to print money, they just don’t want you to know that. you will not have inflation as long as you control inflation…the main thing you can do as an individual to control inflation is, don’t buy it if it goes up or you believe it is to expensive..people keep yellin about communism…..if you don’t believe in printing money as the population grows or taxing the people who have all the money when the markets run out of money…..you, I believe are right in line with communism..you are limiting markets by doing this…limiting expansion….the hidden secrect…..to control the population……even if you tax, as the population grows you will not have enough money and will still have to print money or your markets will collapse…as they continually do…..they put you in fear to sell their gold on their advertisments about the currency..you keep adding to the fear of inflation when you buy gold at outragous prices..they keep padding their pockets with your fear……….this is the truth and always has been the truth…..look out side of the box they have you in…you can’t print so much money that it is worthless, but you must print enough money so that there is no unemployment, and people are not asking me for my left over fried green beans on the side of high street in columbus…you print the money and put into circulation….then jobs are created, less people in prison cause they have a job, less homeless, less of everything evil..we eradicate every evil thing in this world if we printed more money..and the people have to understand that you have to print money as the population grows…it’s very simple…….and remember if you don’t believe in printing money, you don’t believe in capitalism, an if you don’t believe in capitalism, you are moving to believing in communism…in other words a capitalistic communist….I have no opinion of communism at the moment, but you are moving towards that way if you don’t believe in printing money, controlling inflation and getting the cash hoarders to put their money back into the markets….it’s pretty simple…..:)…these are the people I have noticed complaining of communism, but they are enhancing the move towards communism if they believe you can’t print money if the population grows…cash in the markets is like water in the body..if you don’t have enough of it, your body runs dry, sick and death is right around the corner…all cash is, is a fluid liquid that keeps everything wet….when it gets dry, you get Egypt at the moment…