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Bernanke Admits Printing $1.3 Trillion Out Of Thin Air

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posted on May, 2 2010 @ 07:45 AM
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This is only obvious, given the Fed Chairman, Ben Bernanke, is known in a jovial sense as "Helicopter Ben." Zimbabwe and Argentina here we come! This printing money out of thin air is just ridiculous, and only a temporary fix to a ship taking on water and about to sink. The autonomy of the Fed is apparently doing more harm than good? What happened to audit the Fed? Someone has to keep an eye them, or they are going to print the United States into inflationary oblivion.

1.3 trillion dollars is not walking around money, and for the life of me, why is this not all over the MSM? This type of behavior is a threat to national security and the overall solvency of the United States. I am glad Ron Paul, Alan Grayson, and Marcy Kaptur have been holding the Fed Chairman's feet to the fire, but I think it is only a drop in the bucket. If they cannot get a consensus among their colleagues in the House and Senate for broad reforms to the Federal Reserve system, they are almost certainly going to devalue the currency to being the equivalent of nothing more than toilet paper. I suppose out of sight out mind in terms of government oversight.

As the members of congress are enjoying a good nights sleep or late night cocktail hour, Ben and his friends are burning the midnight oil printing money. Get the wheels oiled on our wheelbarrows, because we are going to need them when it is time to buy something. The power this man and his organization has over the health and direction of the economy is just plain appalling.


[edit on 2-5-2010 by Jakes51]




posted on May, 2 2010 @ 07:57 AM
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reply to post by Max_TO
 


That's all any Country needs to do.... print money... then there won't be any debt anywhere...



posted on May, 2 2010 @ 08:15 AM
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It WAS all over the MSM, a year ago when the program started. It's the main reason the stock market launched like a Saturn V rocket in March. Investors expected inflation so stocks would be priced higher in the long run.

So far we haven't had inflation because the other dirty trick the Fed pulled was to lend banks that money at close to zero interest and then pay them interest on their reserve capitol - so the banks make a profit by borrowing money from the Federal Reserve and depositing it straight back. That kept the money from being circulated (lent out to able borrowers) and causing inflation.



posted on May, 2 2010 @ 08:18 AM
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reply to post by Max_TO
 


Thanks, Now I can't stop throwing up.




posted on May, 2 2010 @ 08:43 AM
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I can't help but wonder if there is a plan to have every country placed into a position where they simply can't repay there debt so that all national debt gets wiped out .

If that scenario were to ever play out surly a new currency would follow , no ?



posted on May, 2 2010 @ 08:45 AM
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LOL!

This is what the Federal Reserve was built on, nothing new at all.

Most people are just learning this out now because they don't teach it in school.

If you really want to know 100% fact about the Feds watch this vid.

And there is a thread I started a while back on this.

www.abovetopsecret.com...

And another ATSer's thread here about the Feds

www.abovetopsecret.com...


Google Video Link




[edit on 2-5-2010 by Realtruth]



posted on May, 2 2010 @ 08:57 AM
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This is why the average person was against the bailouts of these vampires,it devalued their honest savings. Privitize the profits and socialize the losses, an old banksters trick,we should know better and we do,our representatives just dont listen nor do they care. Cant wait for November to watch their heads roll,we havent forgotten your betrayal congress.



[edit on 5/2/10 by nickoli]



posted on May, 2 2010 @ 09:11 AM
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reply to post by Max_TO
 


WTF you talking about,
this is old news, goes back 6 months......
get with the program man,
wayoutoftouch,

PEACE,
RK



posted on May, 2 2010 @ 10:19 AM
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Originally posted by Chakotay
Please, PRINT MORE.

Just mail it out to every American, say $3,000,000.00 each.

Imagine, we could all buy a house....


You do realise that house prices would then rise to $100,000,000,000,000,000 due to inflation and you'd be as poor or poorer than before.



posted on May, 2 2010 @ 10:46 AM
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reply to post by Max_TO
 


Yep , youll hear the media cover it, even tho most people dont want to hear it, Glenn Beck has been covering this subject in depth , since all this stuff starting going down.

People bash him all the time but if they would stop bashing and just watch once in a while i think it would start making sense to them.

Hes been warning people like crazy about all this stuff and all the media does is bash him, however.......hes usually dead on......



posted on May, 2 2010 @ 10:52 AM
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Don't buy hyper inflted Gold, convert your worthless paper notes to silver instead. Look at the historical ratio, when all things come down, it will be back to the old rule 1:16. Only fools buys into gold.



posted on May, 2 2010 @ 11:04 AM
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reply to post by Max_TO
 


This is just the kind of BOMBSHELL that Washington D.C. has been looking for to take over the Federal Reserve. They've known that the Federal Reserve Act of 1913 was an illicit take over the Government Banking system and did nothing to stop it. Now, they will have to deal with it and the fall out it will cause.



posted on May, 2 2010 @ 11:11 AM
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There are actually two huge dangers in the way the Fed is handling the monetary system.

The first, which is what this thread is primarily concerned with is the printing of fiat money. The second, which ties in to that, is keeping interest rates artificially low. Either is bad enough but combined they are devastating.

The constant printing of money should have triggered an automatic inflationary reaction; that is if they double the money supply, everything should cost twice as much. That’s a simple enough concept. But by the Fed keeping the prime rate suppressed they have forced a completely unbalanced relationship between the money supply and costs. That cannot last forever.

The longer this goes on the more devastating the impact will be when inflation does finally hit.



posted on May, 2 2010 @ 11:37 AM
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I really enjoy watching this "economic collapse" being perpetuated by the very people who are against it, big smiles!

You can't save yourselves, your too busy setting up barriers for you to knock down. Gold? what gold? www.marketoracle.co.uk...
That stuff has been transported off planet for quite some time now. Just a word of advise: the next currency you chose, should be something simple. I would suggest looking very closely at president Lincoln and his greenbacks. The people that want the power in the hands of few won't like this very much (ask the bullet that went in Lincolns head) but that is the best part, they are too few and can be overran...

Most won't understand much if any of this, but it is worth a try.
(just like my signature, "deny ignorance" that is funny stuff)

Thanks for the laughs
Enjoy the day.



posted on May, 2 2010 @ 11:49 AM
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At least two senators have stated publicly, on CSPAN no less, that the banking industry owns and controls everything, including the government.
The Fed\central bank stuff is not a secret. It's not even a conspiracy. It's policy! The 'Creature From Jekyll Island'
has been a business best-seller for years. The Wall Street robber barons continue to pillage with impunity.
You don't need to worry about rules when you own the game!
Our government doesn't regulate them. It doesn't punish them. It rewards them.

Just as a side note... the head, the freaking head of our government's committee that oversees the entire financial services industry, which includes the securities, insurance, banking, and housing industries, doesn't have the business acumen to run a bingo game. (Barney Frank)


Yet, the citizens of America, in their unfathomable, mind-numbing stupidity, keep putting these crooks in office. Over and over and over and over....



posted on May, 2 2010 @ 11:52 AM
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reply to post by Max_TO
 


Look at who is buying gold this days,

The largest banks in the world now have over $4.68 trillion dollars moving into one "trade."

Morgan Stanley has approximately $1.297 trillion in this deal.


Bank of America is in for over $2 trillion.


JP Morgan is in for an additional $665 billion.


And Goldman has $721.9 billion at stake.
All together, it's nearly 3 times more money than the national deficit... and twice as much as China's total foreign reserves...




[edit on 2-5-2010 by marg6043]



posted on May, 2 2010 @ 12:12 PM
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Originally posted by SeekerofTruth101
C'mon, quit the fear mongering already.....Let's get objective and rational.....


yes! you are SO right, seeker. give it to us straight, man.....



Where does the money comes from?....

Trillions of dollars are now sitting at home and not being circulated. At some point it will have to come out by instituting monetary policies such as devalution or printing more money, or giving higher interest rates, etc.



i simply cannot believe that no one in this thread has yet taken you to task on these statements of yours. you just LOVE to speak as an expert on things you have no idea about, dont you?

do you honestly believe that there are trillions of dollars that are just sitting up in bank vaults all over the world?! NO! THERE ARE NOT! in terms of actual printed dollars, the number is $907 million printed per year. dollars printed.


________

if you, seeker, or anyone else in this thread, do not understand that this 1.5 trillion (from the OP) is literally pulled out of a magic-hat, i URGE you to please discover for yourselves how money is created. it is so terribly important for you to be as outraged as the rest of us....and to STOP telling us to "quit the fear mongering".



posted on May, 2 2010 @ 12:18 PM
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I played a game just like that when I was 5 years old in 1988 me and my sister we would play with fake money and pretend we was all rich until our parents came home and told us to take a bath and get to bed.



posted on May, 2 2010 @ 12:29 PM
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Originally posted by tgidkp
do you honestly believe that there are trillions of dollars that are just sitting up in bank vaults all over the world?! NO! THERE ARE NOT! in terms of actual printed dollars, the number is $907 million printed per year.


That’s a valid point but it’s still a moot argument.

Even if there are trillions of dollars in paper money sitting about it’s still essentially worthless because it’s fiat money. In the great scheme of things, phony is phony. Whether the money is in tangible form or an electronic notation on a spreadsheet makes no difference. If it’s fake it’s fake. Once the currency is devalued, either by inflationary effects or decree, the worth drops accordingly.

We are at a point now where the currency in both actual and theoretical existence has no basis in reality. Once reality comes crashing in the currency will reflect that. As others have already pointed out, one of the most egregious examples is that of Zimbabwe.

Just because those in control arbitrarily declare that the currency is worth X does not make it so. But right now enough people are buying into the illusion and so it can continue. But once enough people look behind the curtain it will all fall apart.



posted on May, 2 2010 @ 12:54 PM
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He did the right thing, it was his job and he did it. What did you expect to happen? Thank God he had the ability to do it or a lot of us might not have been able to pay our cable bill and still be here posting.



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