Bernanke : 'We have lost control '

Bernanke : 'We have lost control '

www.chicagotribune.com

NAPLES, Fla. — Several months ago, economist David Hale had a private meeting with Federal Reserve Chairman Ben Bernanke, who was trying to ward off a recession by lowering interest rates and increasing the money supply in the economy.

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"We have lost control" Federal Reserve Chairman Ben Bernanke is quoted " We cannot stabilize the Dollar. We cannot control commodity prices."

www.chicagotribune.com
(visit the link for the full news article)

Umm...This kind of worries me. Can anyone clarify and tell me just exactly what this means?

Could it mean that as of that time, the Fed gave up on the conceptual 'control' of the dollar?

It is clear that we have reached a point where the artificiality of the 'value' of the dollar was no longer 'concealable' from the perspective of an industry built on fractional reserve lending and fiat currency.

If you are expecting an answer that will somehow account for the Fed's inability to manipulate the market any further to keep the scam going...,

He meant, "We [the Fed] have lost control."

Some might think that enterprising maneuvers might seize this tiny window of opportunity to capitalize on the fluctuations. But then, we haven't seen the closing of the market yet. When that happens we will know that the elite are vulnerable. It's the only reason to close the big casino that is Wallstreet.

Originally posted by Maxmars
Could it mean that as of that time, the Fed gave up on the conceptual 'control' of the dollar?

It is clear that we have reached a point where the artificiality of the 'value' of the dollar was no longer 'concealable' from the perspective of an industry built on fractional reserve lending and fiat currency.

If you are expecting an answer that will somehow account for the Fed's inability to manipulate the market any further to keep the scam going...,

He meant, "We [the Fed] have lost control."

Some might think that enterprising maneuvers might seize this tiny window of opportunity to capitalize on the fluctuations. But then, we haven't seen the closing of the market yet. When that happens we will know that the elite are vulnerable. It's the only reason to close the big casino that is Wallstreet.

Well, this was said by Bernanke on Tuesday so....

I'm still waiting for tomorrow.

Originally posted by Maxmars
Could it mean that as of that time, the Fed gave up on the conceptual 'control' of the dollar?

It is clear that we have reached a point where the artificiality of the 'value' of the dollar was no longer 'concealable' from the perspective of an industry built on fractional reserve lending and fiat currency.

If you are expecting an answer that will somehow account for the Fed's inability to manipulate the market any further to keep the scam going...,

He meant, "We [the Fed] have lost control."

Some might think that enterprising maneuvers might seize this tiny window of opportunity to capitalize on the fluctuations. But then, we haven't seen the closing of the market yet. When that happens we will know that the elite are vulnerable. It's the only reason to close the big casino that is Wallstreet.

I have a feeling it has more to do with the fact that they had to abandon a strong dollar policy with higher rates, and had to protect the capital market structure by cutting rates. I think people are reading a bit too much into this...as far as fiat currencies go, the Euro is a fiat currency, so is the Yuan, so is the Yen, so is the Swiss frank. If you attribute this to the value of the dollar, then why was the dollar skyrocketing during the bailouts? Today is the first day it has really been down significantly, it it was mostly driven by gold.

The fact is the U.S. government needs to get their budget under control, whether the Fed chairman will admit it or not, the federal budget has a LOT to do with the strength of the dollar, the interest rates are an after thought.

Im sorry I dont buy it that he has "lost control". The FED has control and they know exactly what they are doing, theyve done this many times before and they are getting done their exact agenda. What is that agenda you ask? Well look at the continued power consolidation and now look, the government wants to give the FED COMPLETE control over our economy not that they already dont. Soon we will have 3 banks to choose from and everything will be owned by those banks and the FED one way or another. The sad this is like all the other financial panics the people will pay for it with what little wealth they have. The FED caused this just like all the other panics of the past. THEY NEED TO BE ABOLISHED!

[edit on 17-9-2008 by mybigunit]

Capitalism will Die Like Punk Music - Dmteed

I agree with the previous post...

And hopefully we can learn to become socialist.

[edit on 17-9-2008 by '___'eed]

Originally posted by mybigunit
The FED caused this just like all the other panics of the past. THEY NEED TO BE ABOLISHED!

Well, America could just nationalize the fed.

I mean if all the structures are in place, why burn them down and suffer chaos in the meantime until something new comes up? Just grab the money presses and take over the FRB, hell we got 200 million sheeple, which can be thrown at the bankers if they fight back. Probably they'd just parry their funny umbrellas in our direction like swords.

reply to post by mybigunit
Abolishing the FEDERAL RESERVE was the first thing on Ron Paul's agenda once he became president. Soon to be followed by his being quelched by the mainstream media and an end to his campaign.

reply to post by L.HAMILTON


It's funny he mentioned commodities prices. It didn't get a lot of mention but most of the gas prices fiasco was a result of the wild speculation in the ICE commodities/futures market and the resultant inflation. It also wasn't mentioned that the Bush administration was responsible for the CFTC's deregulations which made the ICE a veritable free-for-all. They can't control commodities because they castrated the CFTC.