Bernanke to Congress: We're Much Closer to Total Destruction Than You Think

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posted on Apr, 10 2012 @ 05:15 PM
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Originally posted by ugie1028
Just look at the true unemployment numbers which are 15-20%, and that more than 40% of the population is receiving a government check.


I'm not sure what you are getting at here. Are you proposing that social security stops all payments? Or are proposing that the government goes gothic on companies that either sit on cash and don't hire, or move jobs overseas, or both?




posted on Apr, 10 2012 @ 05:27 PM
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Excellent post and lets not forget the US once again hits the debt ceiling in September of this year then what?
S&F
Regards, Iwinder

Link
blogs.wsj.com...
edit on 10-4-2012 by Iwinder because: added link


Better reading below
campaign2012.washingtonexaminer.com...

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posted on Apr, 10 2012 @ 05:31 PM
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"We're Much Closer to Total Destruction Than You Think"

In the immortal words of Tonto to the LONE ARRANGER
when they were surrounded by hostile injuns and down to their last bullet each

What do you mean "WE" Chemosobby?

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posted on Apr, 10 2012 @ 05:36 PM
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And let's not forget that the article came from February 2011 - over a year ago.

Not saying it doesn't carry relevance now but gee, its hardly new news.



posted on Apr, 10 2012 @ 05:46 PM
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Originally posted by surrealist
And let's not forget that the article came from February 2011 - over a year ago.

Not saying it doesn't carry relevance now but gee, its hardly new news.



Actually it is really big news and this year at this time it has intensified to the breaking point.
It seems to me that when a nation is in debt to the point it is mathematically impossible to pay it off, well that is news and big news in my book here.

Especially since we are in Canada here and what goes on below us right now cannot be good for us here either.

Regards, Iwinder



posted on Apr, 10 2012 @ 05:51 PM
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Why isn't there Hyperinflation already? With all the trillions of digital money that's been put into the system the last 4 years, shouldn't hyperinflation have kicked in by now?
I don't get it.



posted on Apr, 10 2012 @ 05:54 PM
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reply to post by ugie1028
 


There's an asteroid coming. They've been building bunkers and will host a lottery to see who gets in. Also, the Russians have been building a nuclear star drive to put on a shuttle and intercept the asteroid.....that's where all the trillions of dollars went......

or......was that just a movie? with Morgan Freeman......

Sorry, I got off track.



posted on Apr, 10 2012 @ 06:17 PM
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Originally posted by LittleBlackEagle
seems like TPB are beginning the stages of pulling the plug on the great facade. old bennyboy is certainly one of the gang and for him to say this tells me we will be seeing some major economical changes coming much more quickly now.

we all remember how he has been saying everything is fine and dandy for several years now and all of a sudden, hey btw we are at the edge of the cliff guys. lol
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More like we're under the blade of a guillotine and it's falling for our necks.



posted on Apr, 10 2012 @ 06:28 PM
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What he meant to say was we're closer to our goal than you may think.
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posted on Apr, 10 2012 @ 06:40 PM
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Originally posted by Danbones
"We're Much Closer to Total Destruction Than You Think"

In the immortal words of Tonto to the LONE ARRANGER
when they were surrounded by hostile injuns and down to their last bullet each

What do you mean "WE" Chemosobby?

edit on 10-4-2012 by Danbones because: (no reason given)
edit on 10-4-2012 by Danbones because: (no reason given)


Exactly, they like to say WE when it is just them when things are bad.
If things are good you can bet the farm they say Us as in the government did this.
Regards, Iwinder



posted on Apr, 10 2012 @ 09:17 PM
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This is the real fiscal situation in the United States. Everyone in the know in Washington knows this reality, yet they keep kicking the can down the road. I urge everyone to show this video to friends and family. If the situation is not fixed, the United States will be a page in the history books and you can kiss middle class life goodbye. Even if we do the correct thing which is allow the default to happen (which will probably cost the gross domestic product of the US well over 10% for several years), it will be a painful experience. If we don't, we end up with riots, martial law, and military in the streets.




posted on Apr, 10 2012 @ 11:17 PM
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reply to post by ugie1028
 


i run a business, and i find it quite sane to assign my monetray control to a privitized seperate entity while running overbudget to the tune of trillions.

so what? what? peeps need to grow up and stop pretending real life matters more than political failure and lies by the elites.

the funniest thing about the transnational financial elites who pull all the strings...they NEVER succeed, they never get anything right, they always lose, they always fail, but they remain forever in control. its amazing actually, how sad the commeners are inwardly, as a viscious cyle bothe created by, and maintaining the elite. by elite i mean 'priviledged loser scum'.



posted on Apr, 10 2012 @ 11:34 PM
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reply to post by ugie1028
 


I have an idea for the people to recover some money from the criminals in the financial institutions (read mental institutions) and the political circle (jerkers)! Now the mechanics are iffy but.....

Round up all the criminal bankers, stock brokers, lobbyists, politicians, accountants and lawyers, etc. charge them with treason and try them in court and if found guilty, auction them off on eBay to other people and countries. Let the people screwed by them carry out sentence ;-) Hey, and we the people get all the auction money to form legitimate social credit governments and to help put our countries back on track.

Can you imagine what the Chinese would pay for Bernake or maybe those @sshats at Goldman Sucks, er Sachs or JP Morgan? What a payday that would be for the world, both ethically and financially.

Just a thought....

Cheers - Dave
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posted on Apr, 11 2012 @ 05:42 AM
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Originally posted by ugie1028
Sigh, we need more responsible people in charge of the US money supply instead of trying to downgrade it to toilet paper.


We need to change the whole damn money system that's what.

So, we are gonna let this all go to hell because some useless bankers that never did anything positive in society without thinking about themselves first, will make it crash while they just escape in other countries still rich as hell?

It's their fault, they deserve to go down first, we have to arrest them.
They are psychopaths with no empathy, why should we have empathy for them?
Off to jail!

This game of monopoly has gotten just too boring and if I remember well, when you are in prison you don't get income from people passing on you propriety.

The plan is simple, we get them all in jail and we erase the derivatives and the debt on the money created.
Never again must we create money that's costs more to buy than what it is worth.



posted on Apr, 11 2012 @ 10:23 AM
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reply to post by Drew99GT
 


This guy is not the brightest bulb in the box (despite what he thinks of himself), his powerpoint skills a mediocre and for all the show, all he says that debt is bad.

I would agree with that, actually, but.... yawn...



posted on Apr, 11 2012 @ 12:10 PM
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"One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point."

Here's an adjustment suggestion: Eliminate the Departments of Education, Energy, Homeland Security, the IRS, and cut the defense budget in half by halting all the wars we have going on.

Does Benny think that injecting more monopoly money into the economy will help?

I am going to take Gerald Celente's suggestion and start a business - manufacturing guillotines.



posted on Apr, 11 2012 @ 12:18 PM
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I would be very, very helpful if Ben actually explained how we. the US, are supposed to pay back the compound interest on the Federal Reserve Debt Notes when the interest itself was never printed - only the principal. Example: 100 dollars was printed but 10,000 dollars is owed over the course of the loan - where do we get the 9,900 "dollars" when the haven't been printed?

If we collected all the debt notes and returned them to the Fed as they ask, we still owe an incomprehensible amount of interest AND we still owe them the equal value of the debt notes themselves as the debt notes are IOU's and not "Credits" or something of actual value. A "note" is a debt, or a promise to pay when something of value comes along, right now our "value" is killing others for the banking folks, but what happens when we are no longer in the business of killing to pay back the debt?

So maybe Ben might want to take a bit of time explaining how we are to return something to his group that DOES NOT EXIST in physicality anywhere in the world - then I might listen to him.



posted on Apr, 11 2012 @ 12:54 PM
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Originally posted by AwakeinNM
Here's an adjustment suggestion: Eliminate the Departments of Education, Energy, Homeland Security, the IRS, and cut the defense budget in half by halting all the wars we have going on.


Last I heard the entitlement programs are the biggest slice of the pie, so cutting the above won't likely solve the problem.

And I also heard that taxes in the US are lower compared to most other countries, as this chart readily demonstrates.

I'm in favor of ending wars and all that. But DOE at this point is responsible for funding a lot of fundamental research in this country and yes, this is vital for maintaining the technological edge. Without it, it won't soon matter what the budget is. It's a brutal world out there. So the "cut cut cut" mantra will just cut close to the bone in the end.



posted on Apr, 11 2012 @ 01:31 PM
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reply to post by ugie1028
 


Klll the Fed, delete the debt (the mega trillion number's become meaningless), and reissue the dollar, by congress (without interest), while letting the whole house of cards come down - may be the only option.

Money is perception only.



posted on Apr, 11 2012 @ 02:52 PM
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Originally posted by buddhasystem

Originally posted by AwakeinNM
Here's an adjustment suggestion: Eliminate the Departments of Education, Energy, Homeland Security, the IRS, and cut the defense budget in half by halting all the wars we have going on.


Last I heard the entitlement programs are the biggest slice of the pie, so cutting the above won't likely solve the problem.

And I also heard that taxes in the US are lower compared to most other countries, as this chart readily demonstrates.

I'm in favor of ending wars and all that. But DOE at this point is responsible for funding a lot of fundamental research in this country and yes, this is vital for maintaining the technological edge. Without it, it won't soon matter what the budget is. It's a brutal world out there. So the "cut cut cut" mantra will just cut close to the bone in the end.




Well then, cut entitlement programs. I don't have a problem with that.





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