Ben Bernanke Gets Real in Kansas City

Ok Ben, it's time to come clean or face a revolution from an angry American population. The FED is a PRIVATE, FOR-PROFIT bank that can count all of the big financial institutions as stakeholders. This arrangement works against the interest of most Americans, as the FED controls congress and the Obama administration. The FED has INTENTIONALLY caused this financial mess and has used the fallout to increase its own powers. The same tactics were used during the Great Depression (caused by the FED, the FED got more powers during and after), and the same type of events happened to gain support for the creation of the FED in the first place. Congress is right to FINALLY rein in the FED's powers. ALL regulation should be done by the government, not the private FED. As much as I distrust the government, I trust bankers even less! At a minimum, the FED's books should be available to the government and American people--better yet, the government should take full control and ownership of the FED. The FED steals money from everyone when they counterfeit more of it, and then they charge you interest on it! There is no reason the government should have to borrow money from the FED, at interest, when they could print it themselves. Yes, this would cause an inflation tax, but it is no different then what the FED is already doing.

Crocodile's tears. Bernanke is destroying the dollar by printing three times the amount of currency. High inflation will be here within one year, not more than two years like he thinks. He says businesses are not in the position to raise prices. The biggest problem with this theory is that American businesses do not control prices of commodities or foreign labor cost. Most daily products today are imported from abroad, China especially. As the Chinese economy picks up as it is already doing, their labor cost will go up, driving up prices of imports to the US. Even if China can somehow keep wages from rising, the prices of commodities in US dollars will go up thanks to Bernanke's insane printing of the currency, thus driving up prices of imports to the US. China cannot absorb the rise in material cost because its margins are already razor thin. Many more American businesses will be squeezed out by late 2009 and 2010 because they can't raise prices to offset the higher cost of energy, creating another wave of unemployment. Thanks Ben!

The guy is a crook.
He did not save us from any depression.

Nothing has been fixed. There is no healing.
The credit bubble popped, but it is still inflated.

It's interesting that people like Warren Buffett are praising Ben Bernanke for what he did during the financial crisis. Ben Bernanke simply went to Congress and told them that he needed $700 BILLION or the WORLD ECONOMY would "meltdown", correct? And then Congress believed him, and the TAXPAYERS of America were the ones who BAILED-OUT the system, right? So, WHO really deserves the credit? Bernanke or the American PEOPLE? YOU BE THE JUDGE! P.S. According to a report earlier this year on the McGlaughlin Group, the quote- "Total taxpayer outlay from March 2008 to March 2009 was $5.32 TRILLION." If that's true, then every household in the USA acquired a $76,000 debt from March 2008 until March 2009, right? There are about 300 MILLION people living in the USA. 300 MILLION divided by 4.3 people per household equals about 70 MILLION households, correct? $5.32 TRILLION divided by 70 MILLION = $76,000.00, doesn't it? THANKS MR. BERNANKE!

Mr Bernanke has made some mistakes, yes; however, his "unique" actions have saved us. Quite frankly, at the end of the day, I think Mr Bernanke is the man!

After viewing the ‘Bernanke Road Show,” BW readers are persuaded that actor Bernanke is trying to win an Academy Award by his portraying himself in a folksy shtick called: I'm-on-your-side-kind-of-guy. Hidden behind that manicured beard and rehearsed monologue is a liar that makes your used car salesman pale in comparison. The truth is that Bernanke is not on your-side-kind-of-guy and "answerable to the American people" as he had claimed. Bernanke represents the Federal Reserve, a club of private bankers whose excessive greed caused the recent real estate boom/bust and Wall St meltdown. Since its creation in the early 1900s, the Federal Reserve and its greedy bankers are the cause of these boom/bust cycles that sap the economic strength of America as well as stealing money from Americans through inflation via unrelenting Green-back printing press. Just several years after its creation, the Federal Reserve's monetary action caused the '29 Depression and its subsequent "cure" created the second crash in '38. As to the current depression, the Federal Reserve has blindly thrown, as a "Stimulus", several trillions of dollars backed by taxpayer that basically benefited only its Big Bankers. Under Bernanke, the Federal Reserve has demanded equity position over several private business as mandatory condition of accepting TARP: AIG, GM, Chrysler, etc. Not with standing Bernanke Road Show’s friendly hometown atmosphere, his expansion of power is unprecedented and ruthless as well as unconstitutional. Regardless of the shtick Bernake is selling in Kansas, his Gig is up because the American people knows the truth about the Federal Reserve. The American people should demand abolishing the Federal Reserve and return the control of money supply back to the American government instead of placing it in the hands of a few private Big Bankers.