BERNANKE PLEDGES TO SCREW YOUR GRANDMOTHER FOR AT LEAST TWO MORE YEARS

121 comments

Posted on 14th August 2011 by Administrator in Economy |Politics |Social Issues

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“A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” - Ron Paul

  
 

I wonder what goes through Ben Bernanke’s mind as he sits in his gold plated boardroom in the majestic Marriner Eccles building in Washington DC and decides to screw grandmothers in order to further enrich Wall Street bankers. He just pledged to keep interest rates at zero percent for two more years. Ben is a supposedly book smart man. Does he have no guilt or shame for what he has wrought? How does he sleep at night knowing he has created bloody revolutions around the globe due to his inflationary zero interest policy? People are dying because he has decided that an elite group of Wall Street bankers who recklessly brought down the worldwide financial system in 2008 deserve to be kept alive and enriched at the expense of the many.

He uses words like transitory to describe inflation. Even as the price of gold reveals his lies he continues to promote policies that will lead to the demise of the USD and our economic system. There is only one way to counter his lies – truth. With a corporate fascist government run by the few for the benefit of the few, telling the truth is treason as stated by Ron Paul:

“Truth is treason in the empire of lies.”

The storyline being sold to you by Bernanke, his Wall Street masters, and their captured puppets in Washington DC is that deflation is the great bogeyman they must slay. They make these statements from their ivory jewel encrusted towers as the real people in the real world deal with reality. The reality since Ben Bernanke announced his QE2 policy in August 2010 is:

  • Unleaded gas prices are up 45%.
  • Heating oil prices are up 46%.
  • Corn prices are up 71%.
  • Soybean prices are up 26%.
  • Rice prices are up 13%.
  • Pork prices are up 31%.
  • Beef prices are up 25%.
  • Coffee prices are up 38%.
  • Sugar prices are up 48%.
  • Cotton prices are up 13%.
  • Gold prices are up 42%.
  • Silver prices are up 115%.
  • Copper prices are up 23%.

These are the facts and they fly in the face of the lies being spouted by Bernanke and his Federal Reserve cronies. Words like transitory, quantitative easing, extended period, and liquidity are used by Professor Bernanke to obscure what he is doing to the average American. He lives in a world of theories and models, while the rest of us live in the real world, where theories kill and impoverish millions. There are 40 million Americans over the age of 65 today. You might even know a few of them. There will be 10,000 people per day joining their ranks for the next nineteen years as the Baby Boomers retire en masse. The vast majority of these senior citizens are risk averse. Some disturbing facts reveal the true picture for seniors today:

  • Most senior citizens do not have a traditional pension plan because they have been going out of style over the past 30 years.  In 1980, some 39% of private-sector workers had a pension that guaranteed a steady payout during retirement. Today that number stands closer to 15%, according to the Employee Benefit Research Institute in Washington, D.C. 
  • 35% of Americans already over the age of 65 rely almost entirely on Social Security payments alone. 
  • Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 62.  Most are doing this out of necessity. This probably has something to do with the fact that the median retirement savings of households over the age of 65 is less than $45,000.   
  • The median household net worth of all Americans fell from $97,000 in 2005 to $70,000 in 2009. The median household net worth of households over 65 years old fell from $200,000 in 2005 to approximately $150,000 in 2009. Two thirds of seniors’ net worth is the equity in their primary residence, meaning they have $50,000 or less of financial assets (cash, stocks, bonds). 
  • 20% of all the households in the United States have zero or negative net worth.  

 

This data sets the scene for the crime of the century committed by Ben Bernanke and his co-conspirators on the Federal Reserve Board. The easiest way to understand how Ben has screwed seniors and savers to pay off his Wall Street and K Street benefactors is to use a real life example.

A seventy five year old widow living in her paid off row home, bought in 1955, gets by on her annual social security income of $17,000 and the income generated from the $125,000 in retirement savings left from her husband’s forty years working as a truck driver. She is a child of the Depression, financially unsophisticated and risk averse. This describes most senior citizens. The widow and her late husband were only comfortable investing their money in CDs and money market funds. In 2007, before the Wall Street created financial collapse, savers and risk averse senior citizens could earn 5% in a money market fund, 5.5% in a 2 year CD and 6% in a 5 year CD. The widow could supplement her meager social security income with an additional $6,000 of interest income. This money was used to pay the ever increasing real estate taxes, medical insurance premiums, upkeep on the old house, and necessities like food, fuel, insurance and heating.

Fast forward four years to 2011. Savers and seniors are getting average interest rates on 6-month CDs this week of 0.58% nationwide, according to Bankrate.com. Rates on one-year CDs fell this week to 0.86%, while 5- year CDs fetched 2.04%. Money market funds are paying a pitiful 0.16% on average. The widow that was able to generate a risk free $6,000 only four years ago has only been able to generate less than $500 per year for the last three years. In addition, the government manipulated CPI, as calculated by the drones at the Bureau of Labor Statistics, was used to deny senior citizens an increase in their Social Security payments for the last two years. Meanwhile, the prices of food, fuel, clothing, insurance, medical care, and local taxes have been skyrocketing due to Federal Reserve created inflation. Do you think the number of Americans on food stamps surging from 26.3 million in 2007 to 45.8 million today has anything to do with Bernanke’s zero interest rate, inflationary policies?

 

This is not a theoretical hypothesis. Ben Bernanke has purposely sacrificed the savers and seniors in this country at the satanic altar of his Wall Street high priests of debt. According to the BEA data on personal income, in the 3rd quarter of 2008 savers and seniors were able to earn $1.42 trillion of interest income. By the 3rd quarter of 2010 these same people were only able to earn $984 billion of interest income due to Ben Bernanke’s zero interest rate policy. Make no mistake about it, the $436 billion difference was taken out of the pockets of senior citizens and Americans trying to save for their futures and deposited into the accounts of the mega-Wall Street banks that destroyed our financial system with their reckless greed induced debt toga party. The beneficiaries of zero interest rates, QE1, QE2, and all future QEs are Wall Street bankers and heavily indebted entities – namely our profligate Federal Government, who make drunken sailors, seem fiscally responsible. The victims of zero interest rates and quantitative easing are savers and risk averse senior citizens as their income has plummeted and inflation has ravaged their everyday existence. Meanwhile, the Wall Street fat cats have paid themselves over $70 billion in bonuses since 2008.

The fantasy world of moderate inflation is a myth created by the Federal Reserve in conjunction with the government bureaucrats in Washington DC. These people have tortured the CPI calculation worse than a Muslim being water boarded at Guantanamo Bay. Alan Greenspan, bubble blower extraordinaire, began the process of systematically screwing grandmothers in the 1980s. As a way to hide and obscure the true level of inflation caused by running endless deficits supporting a welfare/warfare empire, Greenspan and Clinton implemented devious adjustments to the CPI in order to screw senior citizens and allow Big Government to get bigger while stealthily impoverishing the middle class. One man has pulled back the curtain on the Wizards of Inflation to reveal the truth. John Williams at www.shadowstats.com publishes the true rate of inflation as measured in 1980, prior to the fraudulent manipulation of the CPI. The reality is that inflation has not dropped below 5% since 1987 and currently exceeds 10%. 

      

  

John Williams described the Greenspan/Clinton conspiracy to defraud Americans:

“The Greenspan argument was that when steak got too expensive, the consumer would substitute hamburger for the steak, and that the inflation measure should reflect the costs tied to buying hamburger versus steak, instead of steak versus steak. Of course, replacing hamburger for steak in the calculations would reduce the inflation rate, but it represented the rate of inflation in terms of maintaining a declining standard of living. Cost of living was being replaced by the cost of survival. The old system told you how much you had to increase your income in order to keep buying steak. The new system promised you hamburger, and then dog food, perhaps, after that. Over a period of several years, straight arithmetic weighting of the CPI components was shifted to a geometric weighting. The Greenspan benefit of a geometric weighting was that it automatically gave a lower weighting to CPI components that were rising in price, and a higher weighting to those items dropping in price.” 

Now we hear the latest bipartisan plan to “save” Social Security is to alter the CPI again and further defraud Americans by pretending inflation does not exist. Why address a problem when you can obfuscate, misinform and lie? Anyone with critical thinking skills can clearly see that since 2007 real inflation for our widow has ranged between 5% and 10%, while her subsistence level income has been slashed by 26% due to Ben Bernanke’s zero interest rate policy. The good news is our widow will have the peace of mind knowing the price of steak and hamburger hasn’t really risen as she decides on whether to dine on dog food or cat food tonight.   

 

“Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.” – Ron Paul

 

The Road to Impoverishment & Authoritarianism

There is a direct connection between Federal Reserve policies and the impoverishment of the middle class and seniors. The average American does not appreciate the disastrous consequences of deficit spending and currency devaluation by the Federal Reserve. Ron Paul has been sounding the warning for over a decade, but no one has been listening:

“The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch– Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference– that threatens to impoverish us by further destroying the value of our dollars.”

It is no longer a threat. It is reality. The chart below tells the story.  

 

The Federal Funds rate was 6.5% when George W. Bush assumed the presidency in 2000. The economy was booming, unemployment was 4.2%, the country was running fiscal surpluses, and the National Debt stood at $5.7 trillion. Alan Greenspan was the Federal Reserve Chairman and had been in that position since 1987. The Federal Funds Rate averaged 5.25% from 1990 through 2000 as the country grew strongly and America came the closest to full employment in its history. In 2001 Greenspan set in motion the creation of a tsunami of debt that swept over the entire country in 2008. The short shallow 2001 recession convinced Greenspan to reduce rates to 1% and keep them below 3% until the middle of 2005. He did this with the full support of his right hand man at the Fed – Ben Bernanke.

“The failure of Chairman Greenspan and other FOMC members to address the fiscal and monetary problems of the United States during his almost two decades at the Fed has left the United States on a trajectory for economic stagnation, hyperinflation, and the attendant political and social costs of such policies.”Chris Whalen - Inflated – How Money & Debt Built the American Dream 

Greenspan kept interest rates excessively low three years into an economic recovery, creating the largest bubble in world history. He handed the inflation baton to Bernanke in February 2006 and Ben has been sprinting at top speed for the last five years printing money faster than a Japanese bullet train. With a true rate of inflation running between 5% and 10% during the 2000 through 2011 time frame, market driven interest rates should have been in that same range. But Alan and Ben have kept the Federal Funds rate at an average level of 2.25% over this period. The result has been a consumer debt bubble, housing bubble and now a government debt bubble. Instead of accepting the consequences of excessive liquidity, excessive debt and mal-investment by the Wall Street banks and liquidating the toxic poison from our economic system with the resulting economic depression and losses borne by the stockholders and bondholders of the criminal Wall Street enterprises, Ben Bernanke and Tim Geithner chose to sacrifice the American taxpayer, savers, and seniors to keep their Wall Street masters in their NYC penthouses and Hamptons estates.

 

The shrieking liberal left blames capitalism and demands more social welfare benefits for their entitled constituents. The fact is we have not had true capitalism in this country since 1913.

“Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” – Ron Paul

 

The Day the Dollar Died – August 15, 1971

“With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.” - F.A. von Hayak 

“The road paved with inflation and debt is also the road to authoritarianism.” – Chris Whalen - Inflated – How Money & Debt Built the American Dream 

 

On August 15, 1971, exactly forty years ago this week, Richard Nixon closed the gold window and removed the last vestiges of restraint on politicians and central bankers. Politicians were free to make promises that couldn’t be kept to buy votes and central bankers were free to print fiat dollars and create inflation to support an ever growing warfare/welfare state. On that date the non-manipulated CPI was 40.8. Today, forty years later, the highly manipulated CPI is 225.7, a 553% increase. In reality, true inflation has risen more than 700% since August 1971. Some other facts put this relentless inflation into perspective:

  • GDP has ascended from $1.1 trillion to $15.0 trillion today, a 1,364% increase in forty years.
  • The National Debt has risen from $400 billion to $14.5 trillion, a 3,625% increase in forty years.
  • Total wage income has grown from $588 billion to $6.627 trillion today, a 1,127% increase in forty years.
  • Consumer credit outstanding has accumulated from $141 billion to $2.446 trillion today, a 1,735% increase in forty years.
  • War spending has increased from $95 billion to $966 billion today, a 1,017% increase in forty years. The U.S. was in the midst of the Vietnam War in 1971.
  • Social welfare transfers from the Federal government for Social Security, Medicare, Medicaid, Veterans, and Unemployment increased from $87 billion to $2.305 trillion today, a 2,649% increase in forty years.

These facts prove how twisted and warped our economic system and society have become. Real wages are lower than they were in 1971 as families were forced to put two parents into the workforce forcing children to be raised by strangers, with the resultant social consequences. The corporate media, financial industrial complex and housing industrial complex convinced Americans they had to keep up with the Joneses with new luxury automobiles, extravagant McMansions, and the expensive accoutrements that went along with these representations of fake wealth. The financial plundering of the country by the peddlers of debt on Wall Street could not have happened without the easy money, no regulation policies of the Federal Reserve for the last decade. The National Debt is increasing at a rate of 10% per year while GDP is increasing at a rate of less than 2% per year. Anyone with even the most basic math skills can see this train is going to go off the tracks. Our spending on social welfare benefits has grown at a rate twice as high as our GDP growth for the last forty years and the establishment in Washington has no resolve to address these un-payable promises. The liberals squealed like stuck pigs over the horrific non-cuts in the recent joke debt ceiling compromise. The neo-cons who control the Republican agenda think $1 trillion per year for their war machine is far too little and endangers our very existence. Consumers refuse to accept the reality of their precarious existence balanced on the edge of their 13 credit cards.

Americans of all parties, ages, races, persuasions, education and beliefs have shirked their civic and moral responsibility to future generations. The rampant greed on Wall Street, corruption in Washington DC, shallowness of the American people and cowardice of all in not accepting responsibility for their actions will lead to the end of this country as we know it. There is no courage among the political class in Washington DC to truly take the steps required to save this country from the most predictable cataclysm in history. The politicians and citizens they represent have decided to delegate their civic responsibility to Ben Bernanke. He has tripled the Federal Reserve’s balance sheet by acquiring the toxic mortgage “assets” of the Wall Street banks and buying $600 billion of U.S. Treasuries. The Federal Funds Rate is .07%. His announcement of zero interest rates for two more years proves he has run out of theories and ammo. Jim Rickards, in 2010, pointed out the danger in Bernanke’s reckless policies:

“Fed Chairman Bernanke wakes up every morning and tries to trash the dollar with quantitative easing, zero interest rates and swap lines with the central banks. But it has not been working. The Fed has never taken it to the next step and asked what happens when quantitative easing does not work.”

The utter failure of QE2, hollow Congressional spending “cuts” that will keep the National Debt on track towards $23 trillion by 2021, S&P downgrade and recent plunge in the stock market are the first cracks in the façade of the great American Empire. We have entered a period of institutional crisis and this fiscal spiral will lead us further into the clutches of a more centralized authoritarian form of government unless the people stand up to the junta of mercantilist oligarchs that control this country. Do we want to relinquish our remaining freedoms and liberties for the cloak of corporate fascist authoritarian central planning disguised as safety and security? The Romans chose security over freedom. The time has come to make a choice about what we will become. Ben Franklin stated the obvious two centuries ago:

 Those who would give up Essential Liberty
to purchase a little Temporary Safety,
deserve neither Liberty nor Safety.

- Ben Franklin

 

121 Comments
  1. Buddabull says:

    Friday Night Wrap-Up
    Posted by Ann Barnhardt – August 12, AD 2011 9:11 PM MST
    1. Quote of the Day:

    “Such is what Bossuet expressed in this way:
    ‘Christ does not reign if His Church is not mistress, if the peoples cease to pay to Jesus Christ, to His doctrine, to His law, a national homage.’

    When the Christianity of a country is reduced to the bare proportions of the domestic life, when Christianity is no longer the soul of public life, of public power, of public institutions, then Jesus Christ deals with this country in the manner He is there dealt with. He continues to give His grace and His blessings to the individuals who serve Him, but He abandons the institutions, the powers which do not serve Him; and the institutions, the kings, the nations become like shifting sand in the desert, they fall away like the autumn leaves which are gone with the wind.”

    -Louis-Edouard-Francois-Desire Pie quoting Jacques-Benigne Bossuet (The French actually used to be quite respectable.)

    2. I just learned the blockquote tag. Learn something new every day!

    3. I had the opportunity to speak to a group of patriotic, God-loving, constitution-loving, tax-paying, salt-of-the-earth Americans (a.k.a. “terrorists”) last night. One of the group leaders (a.k.a. “head terrorist) said something in his remarks to the group that turned a light bulb on over my head. We know that Marxists are all about the twisting of language and re-naming things in order to manipulate the “useful idiots”. You also know that Marxists hate and despise the middle class, and are always about destroying the middle class in order to seize and retain power. They want a massive, government-dependent underclass ruled by a small cadre of oligarchs. The middle class is the enemy of Marxism. The middle class has many names: bourgeoisie, white collar, suburbanites. The middle class has now been given a new name by the Marxists in Washington D.C. that they will now use to ruthlessly vilify the middle class and justify its crushing and destruction. They are already doing it. The new Marxist code word for the middle class is “Tea Party”. Think about it. That’s exactly what they are doing. Now, let’s look at some recent quotes from Marxist oligarch politicians and Marxist propagandists and replace “Tea Party” with “middle class”:

    “I believe this is, without question, the tea party [middle class] downgrade.”
    John Kerry, Meet The Press, 8/7/2011

    “The Republican House that failed to raise the debt ceiling, would some how escape all the blame. Then democrats would have no choice but to pass a balanced budget Amendment, and reform entitlements and the tea party [middle class] Hobbits could return to middle earth having defeated Mordor.
    John McCain, speaking from the Senate floor, 7/28/2011

    “There’s a nihilist caucus which is, ‘Listen, we want to burn the place down.’ I mean, they’re not, they’ve strapped explosives to the Capitol and they think they are immune from it. The Tea Party [middle class] caucus wants this crisis, and do we want to do this again six months from now?”
    — Bloomberg columnist Margaret Carlson on Inside Washington, July 29.

    “If sane Republicans do not stand up to this Hezbollah faction in their midst, the Tea Party [middle class] will take the GOP on a suicide mission.”
    — New York Times columnist Thomas Friedman, July 27.

    “You know what they say: Never negotiate with terrorists. It only encourages them. These last few months, much of the country has watched in horror as the Tea Party [middle class] Republicans have waged jihad on the American people….For now, the Tea Party [middle class] Republicans can put aside their suicide vests. But rest assured: They’ll have them on again soon enough.”
    — New York Times columnist Joe Nocera, August 2.

    Keep a sharp eye out for this and understand what is happening. It is Orwellian “newspeak”.

    4. Vlad Tepes has hit the motherlode. Cruise over and bookmark THIS PAGE, which is a thorough, cited and footnoted aggregation of information on the massive phenomenon of islamic man-on-boy pedophilia. This was done by an Aussie who goes by the handle “Circe”. I have seen many of these citations, but to have them all grouped together and have the bibliography in one place is priceless. You need to read it thoroughly so that you know and fully understand what muslim culture is, the depth and breadth of the evil, and then view our fallen soldiers through that lens. Muslim culture is not worth fighting for, dying for, sacrificing for . . . heck, it isn’t worth jack. Can you imagine what seeing this evil going on all around them must do to the morale of our fighting men and women? Sacrificing even one infinitely precious soldier to an infinitely worthless culture is madness. Execute the Ripley-Hicks strategy. Now.

    5. Also check out this page by copying and pasting the URL into your address bar:

    http://nightstalkers.americanspecialops.com/helicopters/mh-47.php

    This is a detailed info page on the SPECOPS MH-47G “Dark Horse” Chinook that the SEALs should have been flying in, but were not. Check out all of the night vision tech, infrared heat imaging, counter measures, missile sensing, sensors that allow “sight” over the horizon, and more powerful engines allowing for faster maneuvering, and gatling guns. This is truly a bad@$$ helo. But our boys weren’t in one of these. They were packed into a National Guard transport helo. Here is the money quote though, and it is near the top of the page:

    “MH-47is the only US Army helicopter capable of supporting Special Operations in the more mountainous regions of Afghanistan and as such it plays a major role in that theater.”

    Only. The ONLY US Army helicopter capable . . .

    I looked it up. The Tangi theater is at 8700 feet. For reference, the Vail ski resort base lift is at 8100 feet. Tangi is a HIGH valley in the mountains of Afghanistan – higher than Vail. One more time:

    “MH-47is the only US Army helicopter capable of supporting Special Operations in the more mountainous regions of Afghanistan . . . “

    14th August 2011 at 7:02 pm

  2. Kill Bill says:

    On August 15, 1971, exactly forty years ago this week, Richard Nixon closed the gold window and removed the last vestiges of restraint on politicians and central bankers. Politicians were free to make promises that couldn’t be kept to buy votes and central bankers were free to print fiat dollars and create inflation to support an ever growing warfare/welfare state

    In a word, internationalism. And both main political parties have succumbed to it.

    14th August 2011 at 7:14 pm

  3. Kill Bill says:

    James Madison:

    “A standing military force, with an overgrown Executive will not long be safe companions to liberty. The means of defence against foreign danger, have been always the instruments of tyranny at home.

    Among the Romans it was a standing maxim to excite a war, whenever a revolt was apprehended. Throughout all Europe, the armies kept up under the pretext of defending, have enslaved the people.

    Of all the enemies to public liberty war is, perhaps, the most to be dreaded, because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few.

    In war, too, the discretionary power of the Executive is extended; its influence in dealing out offices, honors, and emoluments is multiplied; and all the means of seducing the minds, are added to those of subduing the force, of the people…. [There is also an] inequality of fortunes, and the opportunities of fraud, growing out of a state of war, and … degeneracy of manners and of morals…. No nation could preserve its freedom in the midst of continual warfare.

    14th August 2011 at 7:36 pm

  4. AKAnon says:

    “Do we want to relinquish our remaining freedoms and liberties for the cloak of corporate fascist authoritarian central planning disguised as safety and security? The Romans chose security over freedom. The time has come to make a choice about what we will become.” I choose freedom and liberty. “There is no certainty-only opportunity”. Thanks, Admin.

    14th August 2011 at 8:15 pm

  5. cv51 says:

    As Bill Bonner likes to say “we are going to get it good and hard”. Better get your fall garden planted. Deer season is almost here. Clean the weapon and plan a strategy. Keep canning . Those late summer fruits will taste good come February.

    14th August 2011 at 9:44 pm

  6. Muck About says:

    “Bye, bye baby, goodbye!”

    MA

    14th August 2011 at 9:54 pm

  7. Jdubya says:

    Whenever a bunch of politicians come out together and say the world has been saved, expect things to get much, much worse pretty quickly.

    If I may take you back to a fateful night in April of 1912:

    A giant passenger cruise liner named the Titanic smashed into an iceburg, ultimately sinking the supposedly unsinkable ship. After initial impact, some realized exactly what just happened, understood what was likely to occur and went for the lifeboats. While others paid little mind and kept dancing.

    Hug your mother. Heck, hug your father.

    For they know not the country they live in. Their advice is obsolete, their optimism misplaced. Listen, but do not heed, for they know not the country they live in. We are in a different place and in a different paradigm. The last three decades have flown high and have been nurtured, suckling on the teat of debt. The teat is dry and the engine is gone. The mirage of unlimited prosperity is vanishing. While our parents have no actionable advice to dole out, we have something much greater at our disposal.

    This country offers many more possibilities for our generation then our parents could ever even conceive. Our country has changed. More aptly, the country’s true colors have finally been revealed. Our elected leaders answer to a higher power and it is not the citizen. The super committee that has been decided on is taxation without representation. It would symbolically end the republic.

    You can stop reading now and continue to hope or you can continue to read and begin the change.

    Is the answer to become political? No.

    Is the answer to revolt? No.

    Is the answer to drop out of society and go live in the cave I am building in the Adirondacks? Maybe.

    No, there is no one answer, as the answer is more individual than you can imagine. While our parents offer advice for their world, we must live in ours. And ours offers opportunity I never even dreamed of when I visualized this collapse 4 years ago.

    I could be celebrating today and high five the collapse. I can understand the joy of making money and being finally proven right in a bearish view of the economy. I received no joy today. I think most economic bears don’t understand what a global depression will mean for them and what a terrible place the world will be to live in. We’d all like to see a sound economy not run by the Keynesian banking mafia, but cheering a global collapse is such strange behavior to me. It takes a certain type of person to celebrate the worlds economies collapsing. Make no mistake, that is what we are seeing.

    But please remember the opportunities I speak of.

    The outcomes are that many bears, including myself, will lose their jobs and possibly their homes. Society will become much less safe. Spending will be cut drastically including reduced jails and police and therefore higher crime.

    Food stamp usage already at 45m Americans may double. Tent cities full of homeless people will start popping up everywhere. Beggars will be on every street corner. Many of those perma-bears will think they’re ready to handle a collapse, but they have no idea. And their (my, yours?) gold and silver will do little. I’ll be much better off with guns and food. I have food, but little aim. That will change before 2012. I feel it’s pretty classless and totally unproductive to cheer lead an economic collapse. Don’t be fooled by any pretense of bravado. I am terrified by what I am seeing and feeling.

    Some of us made money today, some of us lost money today. Some of us will have houses that will return to mid 1980′s valuations. Some of us will care less about everything financial and summon their spirit to shape the future they wish to live in.

    I have chosen the latter.

    While the status quo desperately attempts to hold on to control, are you preparing for what comes after all control is lost. The only real certainty is that their control will be lost and a new society will emerge. My current and loftiest goal is to be hired to help set up a world class cancer center in NYC that our veterans so richly deserve. If I were to be offered a back room cot and and fifty bucks a day, I would still show up tomorrow. It is part of the change I wish to initiate. I would live for that center and for every veteran who steps inside. Your own change is coming so quickly that you might not have a second chance to take advantage. Toffoler’s third wave is upon us and it is time to say goodbye to the lifestyle we have come to know. During this third wave I will fight for my nation I was taught existed when I was in school. There will be new leaders and new communities and new priorities. The alternative is more super committees, more kleptocracy and more citizen control via federal reserve fiat. As paper wealth is destroyed and 401k’s disappear overnight, it is time each and every one of us follow a new direction that leads us far from where our current ruling elites wish to keep us captive.

    Let loose the mindset of republicans and democrats only and the national failure that the two parties have wittingly or unwittingly provided. To some I ask for you to consider that capitalism has not failed us. What our country purported capitalism to be has failed us mightily. Crony capitalism and corporate fascism rule the day here in the USSA.

    What we were taught in grade school and what is reality we now realize are two very different animals.

    Imagine 15 years ago, that when walking through NYC I was under the impression that the unshaven, filthy, greasy man on the street corner in tattered clothing with hair growing out of every orifice imaginable, holding up the sign and screaming:

    “AMERICA IS OWNED BY THE COPRORATIONS!!!

    WE ARE ALL SLAVES.”

    was a total and complete nutjob.

    Not anymore

    I believe I see my light and I invite you to see yours.

    14th August 2011 at 10:03 pm

  8. Administrator says:

    Jdubya

    Thanks for that heartfelt post. Welcome to the site.

    14th August 2011 at 10:14 pm

  9. Administrator says:

    “There are two ways to get enough. One is to continue to accumulate more and more. The other is to desire less.”

    G.K. Chesterton

    14th August 2011 at 10:24 pm

  10. Mikey says:

    @Jduba

    Well said. Welcome to TPB.

    There is another option of course – The entire world isn’t going to shit. Just the ‘Civilized West’. Even if you don’t want to get out, you should spread your bases across different countries. In case you’re not aware him, look up and read Simon Black’s old blog posts at http://www.sovereignman.com/

    Eastern Europe will go through this mess relatively unscathed – they’ve ‘been there – done that’ 10-20 years ago. Most of Oceana will be pretty much the same as it is today – either relatively stable and self-supporting like Australia, New Zealand, Malasia and to a lesser extent Indonesia. Or it’ll be borderline survival like most of the island nations.

    India will be India. It’s been in a class of its own for the past 2-3 millennia.

    Most of South America has also been down the gurgler in the past 20 years too. It’ll survive though it may get a bit hot in places where the US is feeling all colonial.

    Africa….TIA.

    US? Kablooey.

    Mexico? Probably taken down by US fallout.

    Canada? they may be OK – hard to say. The Kanuk’s biggest problem is that they share a border with the US.

    Europe? again, hard to say. The Euro zone is in trouble, for sure, but will it break up totally or snap into a North/South thing? For all the crap that is happening there, the Germans are very serious about keeping Europe together as a concept and as a political entity. As an economic entity though, the problem rapidly becomes much more complex.

    14th August 2011 at 10:46 pm

  11. newsjunkie says:

    b3b5765d-e6d0-439d-840a-19ba18a3c5ca.jpg

    14th August 2011 at 10:49 pm

  12. Lark Williams says:

    Good article admin. You could mention he’s done perhaps something even worse: by telling the world he expects two more years of no growth, he’s telling small business (and others) not to invest in the economy. So the brainiac with a 1600 SAT, in trying to fill his mandate of full employment, just told anyone who is thinking of hiring people to hold off for two more years

    The man really wants to get inflation going. This is his last thrust at that. I guess if you know you’ll get zippo in interest for two years — and that you’re insulated for two years from rate hikes — might as well go spend your money. Or speculate on commodities!

    Ben will go down as the worst, and hopefully final, Fed Chairman. Ron Paul is looking good

    14th August 2011 at 10:49 pm

  13. Zara says:

    Jdubya, to be fair to the Titanic’s designers and operator, they never claimed the ship was unsinkable; it was the media that did that. It is true though that the prospect of it sinking wasn’t considered likely, which is the reason it lacked lifeboat capacity. It was believed that lifeboats would be used to ferry people from one ship to another in which case Titanic would be the rescuer.

    Titanic’s demise is understandable given the nature of the injury. What is more puzzling is the sinking of it’s sister ship the Britannic during WW1. It had been converted to a hospital ship but more importantly, wasnt completed until after the Titanic sinking. One of the modifications they did was to cap the watertight compartments to eliminate the spilling effect that led to Titanic’s demise. Yet the the Britannic succumbed to a single torpedo hit from a german sub. Perhaps like the Lusitania, the wonderful british government was using non-combatant vessels to ferry armaments.

    14th August 2011 at 11:40 pm

  14. StokeyBob says:

    No matter how much real money people can put together to build their countries the way they want there are those that can print up what ever it takes to get their way.

    SuperDollar502x600.jpg

    15th August 2011 at 12:19 am

  15. newsjunkie says:

    The real truth about the Titanic – the JEWS did it. Here’s proof:

    http://www.thebestpageintheuniverse.net/c.cgi?u=af07

    15th August 2011 at 12:25 am

  16. Novista says:

    Speaking of screwings, I just found this:

    “But apparently the federal government is determined to resurrect BofA: the Wall Street Journal reports the feds have just used Fannie Mae, which is controlled by the U.S. government [and which gets bailed out again and again], to infuse BofA with $500 million and ease one of the bank’s biggest headaches.”

    http://georgewashington2.blogspot.com/2011/08/bank-of-americas-stock-skyrocketed.html

    15th August 2011 at 12:34 am

  17. Novista says:

    More on bUnk of Amerika

    http://finance.fortune.cnn.com/2011/08/10/bank-of-americas-back-door-tarp/

    15th August 2011 at 12:40 am

  18. ragman says:

    Jdubya: good post except I would never say that gold and silver would do little. The PMs are simply another part of a prepper/survivalist’s strategy. Along with a reasonable supply of food, water, battery powered electronic devices, weapons and ammo, &tc, gold and most importantly silver are extremely important to have on hand. Also,someone needs to pin down our former Fed Bank President and current presidential candidate, Mr Cain and find out what thoughts he has about the facts in this post. I have seen no reference to this facet of his career except in forums like this one.

    15th August 2011 at 9:09 am

  19. Administrator says:

    “If the US Government was a family, they would be making $58,000 a year, yet they spend $75,000 a year, and have $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand.”

    -Dave Ramsey

    15th August 2011 at 9:56 am

  20. scott says:

    Love this article Mr. Admin. It puts concrete figures to what has been an inchoate feeling of mine about ZIRP and Bernanke’s efforts to push people into high risk ‘investments’ that do nothing to create jobs or real wealth.

    A person putting their money into a neighborhood bank or credit union is ‘investing’ but allowing a loan officer of that institution to select the investment which would be to local person or business that the loan officer had confidence in and could keep a close eye on. This Jimmy Stewart world of banking was conventional and not very glamorous but it made capital available to real people who needed real goods.

    With the demise of Glass-Steagall and the rise of the mega banks everything changed. Once upon a time having a bank account with J.P. Morgan was a status symbol. They didn’t ‘do’ retail. So even the little old lady is now in ‘invested’ in the wonderful world of 3x inverse ETFs, CDS and CDOs and other speculative plays even experts don’t fully understand.

    I would like to see Ben Bernanke be forced to cash out his pensions ( pensions most don’t get and even fewer have the option to ‘cash out’) and invest his own money in the mutilated and distorted markets he has fashioned. Somehow, were his own money and future at risk he might not enjoy Central bankers playing games that crater his investments one day and debase the currency daily.

    15th August 2011 at 11:14 am

  21. RT says:

    i always knew Ben was a necrophiliac. my dead grandma deserves better

    15th August 2011 at 11:26 am

  22. Administrator says:

    Jesus H Christ

    21 freaking comments!!!

    I got 190 comments on Zero Hedge.

    The article has been picked up all over the web. It even made Prison Planet and Max Keiser so even the conspiracy crowd likes it.

    Is everyone on vacation?

    15th August 2011 at 2:13 pm

  23. AwholeDr says:

    StokeyBob:

    Love the “super dollar.” It moves when you look away.

    Admin:

    The article was great, but some of the comments have thrown the rest of the dogs off the scent I’m afraid. I wanted to add a Medicare rant, but didn’t feel compelled enough w/the other comments.

    15th August 2011 at 2:28 pm

  24. Lark Williams says:

    Admin — quality not quantity. The Zero Hedge commenters (not necessarily readers I point out) are mostly nihilistic neanderthals who hate everyone, including themselves. TBP readers are thoughtful, funny, open minded.

    15th August 2011 at 2:42 pm

  25. Dave Cohen says:

    Sorry for this bit of self-promotion, but I thought this recent post of mine is relevant to the discussion –

    Two More Years Of Backdoor Bank Bailouts

    http://www.declineoftheempire.com/2011/08/two-more-years-of-backdoor-bank-bailouts.html

    Dave Cohen
    Decline Of The Empire (DOTE)

    15th August 2011 at 2:55 pm

  26. Lark Williams says:

    Dave,

    Did you really just discover that Bernanke is furiously trying to recapitalize banks through many means, including widening spreads? C’mon — this is the Onion posting, isn’t it?

    15th August 2011 at 3:08 pm

  27. Administrator says:

    BCA Research Finds “QE Is Good For The Rich, Bad For The Poor”

    Submitted by Tyler Durden on 08/15/2011 14:42 -0400

    We were a little torn as to who should receive today’s captain obvious award of the day. For a while Atlanta Fed’s Lockhart was in the lead, who in a speech to the Rotary Club of Atlanta came up with this pearl of wisdom: “the stock market may not tell the economy’s direction.” Does this mean that the efficient market hypothesis is now dead and that the Chicago School of Voodoo should hand out refunds for decades of indoctrinated lies? Nonetheless, the winner was sealed when we read about an actual paper writtedn by BCA Research’s Dhaval Joshi, which found that “Quantitative Easing is good for the rich, and bad for the poor.” And there you have it: all those scrathcing their heads, confused, wondering how it is possible that QE which was supposed to make everyone richer, did not do so, have an explanation. And nobody could have possibly come up with this conclusion before: it is a true blessing that BCA decided to invest the capital and manpower into cracking this indecipherable quandary (which truth be told apparently stumped the geniuses at the Fed not once, but twice, and will continue to do so them every single time the S&P drops below 1000).

    More on this mindblowing conclusion, courtesy of The Guardian:

    “The evidence suggests that QE cash ends up overwhelmingly in profits, thereby exacerbating already extreme income inequality and the consequent social tensions that arise from it,” Joshi says in a new report.

    He points out that real wages – adjusted for inflation – have fallen in both the US and UK, where QE has been a key tool for boosting growth. In Germany, meanwhile, where there has been no quantitative easing, real wages have risen.

    As the Bank waded into the financial markets to spend its £200bn of newly created money, mostly on government bonds, the price of many assets, including shares and commodities such as oil, was driven up.

    That helped to boost companies’ revenues, but Joshi argues that with the labour market remaining weak, employees have had little hope of bidding up their wages. “The shocking thing is, two years into an ostensible recovery, [UK] workers are actually earning less than at the depth of the recession. Real wages and salaries have fallen by £4bn. Profits are up by £11bn. The spoils of the recovery have been shared in the most unequal of ways.”

    Joshi adds that this also helps to explain why sales of high-end luxury goods have continued to soar, while many consumers have been forced to tighten their belts.

    “High-income earners are more exposed to profits as owners of businesses or shareholders. Low-income earners are dependent on wages,” he says.

    His conclusion:

    Joshi’s contribution is the latest salvo in a furious row among economists about the effectiveness of QE. Some, including Danny Gabay of consultancy Fathom, have argued that the electronically created money would have been better invested in housing, instead of disappearing into the crisis-hit banking sector.

    There it is: we present you today’s winner of the real men of captain obvious genius award.

    As for whether this will change the behavior of central planners who know this all too well (and in fact launched QE1, 2 and so forth in its various permutations around the world precisely for this reason), we expect that the San Fran Fed will promptly release a paper confirming the tremendous contribution of QE in preventing foodstamp recipients from being well north of 100 million, and that the Fed should receive a medal of honor for keeping those on food stamps to the far more modest record number of just around 45 million.

    15th August 2011 at 3:42 pm

  28. AwholeDr says:

    Happy Anniversary: U.S. dollar was killed 40 years ago today:

    “Today Marks 40th Anniversary of the Dollar’s Divorce from Gold”

    http://finance.yahoo.com/news/Today-Marks-40th-Anniversary-wscheats-1950132810.html?x=0&sec=topStories&pos=7&asset=&ccode=

    15th August 2011 at 3:57 pm

  29. howard in nyc says:

    admin, dude, we’re the choir. we can’t be expected to sing every damn day.

    or, if you prefer:

    “great article, thanks for telling it like it is! slurp, slobber, spit, slurp.”

    better now?

    15th August 2011 at 4:08 pm

  30. newsjunkie says:

    b809298e-3c19-4739-a91e-4516791b8c24.jpg

    15th August 2011 at 4:48 pm

  31. Barbarossa says:

    Fortunately, neither of my grandmothers can be screwed by Bernake (unless of course he is a necrophiliac). My mother, on the other hand, is 95 and totally dependent upon her retirement. She is still lucid enough to call Bernake an “Asshole” – not bad for 95!

    15th August 2011 at 4:49 pm

  32. newsjunkie says:

    Just playing with you! Really, you know I think you’re awesome.

    15th August 2011 at 5:13 pm

  33. eugene says:

    America is a country that has, always, sacrificed the poor, handicapped, mentally handicapped or anyone who stood in the way of personal gain for the well being of the middle and upper classes. We haven’t ever given a damn about anything or anyone. As I said to an old Vietnam buddy the other day, “we were cannon fodder then and we’re cannon fodder now”. We’re “collateral damage”. I read the countless blah, blah ranting, whining, pissing/moaning comments of people who are, obviously, of better means. The first building blocks of what ever recovery there is, is build on the backs of the disadvantaged. My major source of retirement income is Social Security. I haven’t seen a pay increase in some time even though it is supposed to be. While I see Bernanke’s role, I, also, see the role of tens of millions of my fellow citizens who are, not only willing, but cheering on the destruction of my income. I think Americans should be damn thankful for their government!! Without government, we’d have to face ourselves. We elect them, they are us!!

    15th August 2011 at 6:19 pm

  34. efarmer says:

    Eugene,

    This country was formed with the idea of freedom from an overbearing government. We now have an out of control government.

    Many of us are pissed off and want them off our backs. Regulations and taxes are out of this world. Obviously if you are retired, this isn’t your concern, you want Washington to take care of you. Fine. I don’t.

    I knew years ago there would be no SS for my wife and I and have taken the bull by the horns.

    EF

    15th August 2011 at 6:35 pm

  35. llpoh says:

    Eugene – on the whole, that post was a stinking pile of shit. Poor Eugene – the world is so unfair. I do agree with the last 3 sentences, tho.

    15th August 2011 at 6:43 pm

  36. bill cole says:

    Wow, the real issue and problem is exemplified by the 7 [so far] negative responses to buddabull. Mention Jesus and even otherwise relatively clear thinking conservatives turn to spineless jellyfish. All of you destined to give us your thumbs down are as blind as the libtards and judge yourself in the process. This country is hopelessly lost, consumed by fleshly answers to spiritual problems. The Great Polarization is taking place right now. In the end all of you McCain-McConnell pseudo conservatives will wind up in the same place as the DEMONcrats you so despise. You are just as much the enemy of this country as you delude yourself with your own brand of lies. Ask yourself this one qualifying question. Does the name of Jesus, The King of Kings, embarrass you, embolden you or neither? Oh Yeah, it is that simple!

    15th August 2011 at 6:43 pm

  37. llpoh says:

    efarmer – spot on.

    15th August 2011 at 6:49 pm

  38. llpoh says:

    bill cole – don’t you have a streetcorner to terrorize somewhere?

    93455144_a3aa267064.jpg?v=0

    It is one thing to have Christian values, and to be a good Christian. But to expect that the way out of the mess we are in is to pray and put faith in Jesus is another thing entirely. The Lord helps those who help themselves. We need to start helping ourselves. That is why the thumbs downs to buddabull, I expect.

    15th August 2011 at 7:01 pm

  39. Bernanke Pledges To Screw Your Grandmother For At Least Two More Years | Best Metal Research says:

    [...] “A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” – Ron Paul I wonder what goes through Ben Bernanke’s mind as he sits in his gold plated boardroom in the majestic Marriner Eccles building in Washington DC and decides to screw grandmothers in order to further enrich Wall Street bankers. He just pledged to keep interest rates at zero percent for two more years. Ben is a supposedly book smart man. Does he have no guilt or shame for what he has wrought? How does he sleep at night knowing he has created bloody revolutions around the globe due to his inflationary zero interest policy? People are dying because he has decided that an elite group of Wall Street bankers who recklessly brought down the worldwide financial system in 2008 deserve to be kept alive and enriched at the expense of the many. READ MORE [...]

    15th August 2011 at 7:26 pm

  40. bob says:

    Good article, just what Lyndon LaRouche has been saying since Nixon took us off the Gold standard in 1971. La Rouche has been pushing real hard for a new Glass Steagall Act of 1933 or HR1489 in the House. It is a good first step and the Super Rich have been not publishing it and have been fighting it tooth and nail because they know it will free us from their death grip. But as the financial system continues to implode our Legislature is seeing the writing on the wall and more and more are coming around and signing up. There are international calls for a Glass Steagall Act from Italy and now France and Argentina and other countries around the world. You won’t hear the name LaRouche but he’s the one behind it. Quite a statement “Truth is treason.” I like it. Bob.

    15th August 2011 at 7:34 pm

  41. efarmer says:

    Eugene,

    Which one are you?1566-247156&docid=jJzmtr_FCH_ckM&w=350&h=263&ei=EK1JTvPtI6WNsQLzvaDbCA&zoom=1&iact=hc&vpx=554&vpy=300&dur=296&hovh=195&hovw=259&tx=127&ty=95&page=4&tbnh=140&tbnw=181&start=55&ndsp=18&ved=1t:429,r:2,s:55

    15th August 2011 at 7:39 pm

  42. bill cole says:

    llpoh,

    Haha. The Lord helps those who help themselves? Let me guess. You think that is in the scriptures right? Wrong! G it sounds good so it must be true. Terrorize street corner? Haha, Tea Party, Terrorist, You silver tongue devil with all your original thoughts. Polly want a cracker?

    15th August 2011 at 8:21 pm

  43. Opinionated Bloviator says:

    “Let them eat catfood” The Bernanke

    “Change you can believe in… Yes we can!” HopeyMcChange

    15th August 2011 at 8:29 pm

  44. Colma Rising says:

    Well, I guess bill cole will up the comment number by being a lilliputian…

    15th August 2011 at 8:32 pm

  45. Administrator says:

    newsjunkie

    I can always count on you to put me in my place. Cats rule.

    15th August 2011 at 8:34 pm

  46. llpoh says:

    bill cole – all the praying in the world and belief in the Almighty will not change current circumstance. Perhaps if people followed the golden rule it would help. But in the end, it is time for folks to look after themselves, and to come together to demand that the leaders – such as they are – do the right thing by the country and its future. If history has proven anything it is that the mind of God is unknowable, and that he does not take sides in human conflict.

    If you want to proselytize get ready for a steady flow of thumbs down, as I sincerely do not think it will be welcomed on a forum such as this.

    15th August 2011 at 8:43 pm

  47. crazyivan says:

    llpoh-

    “bill cole – all the praying in the world and belief in the Almighty will not change current circumstance. Perhaps if people followed the golden rule it would help. But in the end, it is time for folks to look after themselves, and to come together to demand that the leaders – such as they are – do the right thing by the country and its future. If history has proven anything it is that the mind of God is unknowable, and that he does not take sides in human conflict”

    God, that was exactly what I was trying to say with regaurds to Mary Lou Rossmiller.
    You catch on quick. I wish I had your way with words.

    Soon you will be a legend.

    15th August 2011 at 9:10 pm

  48. llpoh says:

    CrazyIvan – where have you been? I am a legend!

    40152.png

    blogging1.gif

    15th August 2011 at 9:19 pm

  49. Buddabull says:

    When I read the article by Ann Barnhardt it struck a cord with me. It was more about doing the right thing in life instead of preaching Christ to everbody. I am not a holy roller by a long shot, when they talk about skeletons in the closet I need a bigger room. As you get older you learn from your past and try to improve your life by doing the right thing. It is not the easy way but it is the right way.

    15th August 2011 at 9:30 pm

  50. AwholeDr says:

    Eugene:

    “I think Americans should be damn thankful for their government!! Without government, we’d have to face ourselves. We elect them, they are us!!”

    Spoken like a true entitlement recipient. You are them, they are NOT us. Obama didn’t win by a very large margin in 2008, and he’s blown up the government in 2 1/2 years by 30%. If, God forbid, he wins the election in 2012, he’s going to rename this country “Governmentland” or “Obamaburg.” But I’m sure you’ll vote for him, because you still hope he’s going to raise your benefits.

    Bill Cole:

    This is not a religious site. Maybe you belong someplace else. If anyone here started talking about Jesus, we’d all of a sudden have more religious nutjobs that we already do. Jesus wants the towlheads dead, the fags dead, the commies dead, the atheists and agnostics dead, and anyone else that doesn’t believe in him, right? Oh wait, that’s religion and religious zealots being self-righteous. Don’t blame GOD for religion, and we’ll stay out of a lot more wars.

    15th August 2011 at 9:36 pm

  51. crazyivan says:

    I did not mean to infer that you were a legend “alone in your own mind” nor that you were a bum on a parkbench with your hand inside your pants trying to lure a street cop.

    I meerly suggested that you may be teachable.

    Please don’t get rash with me as I am somewhat sensative (being a poet and al)

    It will get better for you!

    15th August 2011 at 9:37 pm

  52. RobertB says:

    Outstanding article, except for the legend of the seniors on dog food. Not only is it much more expensive than low grade people food, in Canada it’s taxable.

    15th August 2011 at 9:58 pm

  53. newsjunkie says:

    go here for some cheer leading

    http://gobarbra.com/hit/new-ec9e19f0ef0465e9a3a3847d05207502

    15th August 2011 at 11:38 pm

  54. kapt blasto says:

    what about we do this:

    let’s say I’m a bondholder that has $50 million tied up in US BONDS, and like any other buyer I wait upon my yields as well as my promised maturity….

    I buy these bonds because I want a guaranteed DOUBLING of my money, as well as the YIELDS that I know I will receive periodically, all TAX FREE…and I do this because I want a nice retirement, or I want a college education for Junior, or I just want to live off the yields eventually….

    But then I stop and realize, as I see the prices jump, and I see the dollar supposedly weaken….

    “Hey wait a minute….doesn’t Uncle Sam have to TAX PEOPLE to make good on the guarantees that I BUY?, why am I being told from everywhere else that “THE FED” is just ‘printing up money like it’s going out of style….and that I’m hearing guys on the radio say, THE END IS NEAR?”

    so I get skittish about holding bonds, because the more people that hold bonds to try hiding their money from the tax burden that must come to pay my yields, the more the bonds have to be issued to keep paying them, because the tax base is drying up, trying to hide from the tax burden…

    but I want the yields, as well as the maturity to come….so what do I do?

    well…it looks like a real sticky vicious circle….doesn’t it? Maybe it’s time to think outside the box that I keep finding myself putting myself in….

    so I walk toward the Federal Reserve Branch…and I get a stroke of genius…

    Instead of walking over to the FEDERAL RESERVE…where Ben Bernanke might be expecting me to give into my skittishness and just get whatever pennies I can get for them, and run off….so he can then sell them to another guy and make some profit in the process….

    I keep walking on to TREASURY….and I make the following proposal to Timothy Geithner, who upon hearing it, is completely dumbfounded….because NO OTHER PERSON IN HISTORY has EVER made THIS FOLLOWING OFFER TO HIM, or any other Treasury Secretary in THE WORLD…….

    Geithner says, “LET ME GET THIS STRAIGHT…..you didn’t walk over to the RESERVE to get your low-ball offer and head off, but instead you come to me, and you want to WHAT?????”

    “You want to plunk these BONDS down on MY DESK as a ***DOWN PAYMENT*** for a ****VOUCHER***** that you can walk back over to the RESERVE, for them, to turn into some kind of ***MEGA-COD*** that’s FIVE TIMES BIGGER than all the maturities of your bonds and any calculated YIELD PAYMENTS left remaining to pay you??????

    that gets held “symbolically” (because you’re putting that COD in “segmented” form….) by all the banks and lending houses, as well as Insurance companies….”

    “…and because of THAT….you want me to fix it so that a supposed PROMISSORY NOTE that you DRAFT WITH ME, making ME THE CREDITOR, and YOU THE DEBTOR…

    has as it’s PRINCIPAL TERMS of paying back your loan with me, not MONEY that you EARN out of your pocket to pay it back…..but TIME, that your CoD gets held on account at all the banks….being MEASURED not with YEARS, HOURS, MINUTES, SECONDS, or what have you….but with how many times the entire amount of the CoD gets BORROWED ON from the BANKS, and PAID BACK with INTEREST???????????????”

    “….and because of THAT…you want the interest rate be set so that whatever you gain from whatever interest the BANKS pay you for BORROWING from that CoD that’s “symbollically on account” with ALL OF THEM……I can get 25% of whatever you’re collecting?????????”

    “….and because of ALL THAT….you want me to let you, through the BANKS, SELL SHARES of YOUR COD to buyers, through the DERIVATIVES MARKET, thereby THEORETICALLY letting you gain that entire amount through successive Public OFFERINGS through the DERIVATIVE MARKET?????”

    “…and you’re saying that if I draft a promissory note with ALL THOSE TERMS in it….that once you leave my office, heading to the FED with your VOUCHER….that I can BURN THESE BONDS?!?!?!?!? thereby LOWERING THE NATIONAL DEBT by whatever amount THESE BONDS ARE?!?!?!?!?!?!?!?”

    “Buddy….are you completely out of your mind?!?!?!? There’s REGULATIONS and LAWS governing this…. THERE’S NO WAY WE CAN DO THIS…………….can we?”

    and just then….Mr. Obama, with Herman Cain walking right behind him, walk into the room….

    and Herman Says……”OH YES WE CAN!!!!!!!! Sign on the dotted line, Boy! We’ve just started the SECOND AMERICAN REVOLUTION!!!!!”

    16th August 2011 at 12:29 am

  55. Novista says:

    bill cole

    Nice kneejerk on budda’s behalf. Talk about pole vaulting to a conclusion. A scant mention at the beginning and a lot of other stuff — you wouldn’t possibly imagine that 7 (and counting) of the over 8,000 registered users — most of whom read but seldom, if ever, comment — might have taken exception to the other content.

    Jesus saves but I think you’re a lost cause. You know, I’ve never had a homosexual come to my door and try to convert me. You know NOTHING about the people here but are willing to leap into the fray having already judged.

    As for “you McCain-McConnell pseudo conservatives” … golly, boy, it sure do get tiresome when dumb fucks like you romp in and do the instant profile thing. And are invariably WRONG!

    Your spiritual answers are about as useful at that group praying to God to solve the debt ceiling crisis. God gave humanity free will. We create our problems, it is up to us to solve them. Or not. Maybe you should try it sometime.

    16th August 2011 at 6:30 am

  56. Administrator says:

    amateurs.jpeg

    16th August 2011 at 11:58 am

  57. Muck About says:

    @Novista: For shame! Even if there is no God to whine to about this or that, even I have been known to cherry pick a few of the Ten Commandments myself – like “DO NOT murder your neighbor” or the one that almost says “DO NOT get caught screwing your neighbors’ wife”…

    One should never tease a Jesus freek. They spit up on you.

    MA

    16th August 2011 at 12:29 pm

  58. NoEffingWay says:


    Jesus H Christ

    21 freaking comments!!!

    I got 190 comments on Zero Hedge.

    Now you know how the anchors at MSNBC feel. They have like 5 viewers, but if another talk show has a clip of those jackasses behaving like, uh, well, jackasses, the vewership goes through the roof. On the other channel/radio station. Hey, you got posted at ZH. Lighten up Francis.

    Awesome site BTW.

    16th August 2011 at 8:25 pm

  59. Novista says:

    MA

    Heh. Mencken said

    “We must respect the other fellow’s religion, but only in the sense and to the extent that we respect his theory that his wife is beautiful and his children smart.”

    “Puritanism. The haunting fear that someone, somewhere, may be happy.”

    “When confronted with temptation, the first question a moralist asks himself , ‘Will I get caught?’”
    (Not sure about this one … )

    16th August 2011 at 8:27 pm

  60. llpoh says:

    We make up for in quality what we lack in quantity. Eagle do not flock. And pigeons tend to avoid this site because of the eagles.

    16th August 2011 at 8:53 pm

  61. Wednesday 17.08.11 | The Inner Circle Group says:

    [...] BERNANKE PLEDGES TO SCREW YOUR GRANDMOTHER FOR AT LEAST TWO MORE YEARS By James Quinn – Theburningplatform.com “A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” – Ron Paul [...]

    17th August 2011 at 10:51 am

  62. 0% Interest Rates Lock in Inflation /  We know and will tell you all what really happened today says:

    [...] (Click here for the complete and most excellent post from Theburningplatform.com) [...]

    17th August 2011 at 12:02 pm

  63. TFlanagan says:

    Economics 101, inflation is a transfer of wealth from the have to the have nots, as the real value of debt is diminished through inflation, deflation benefits those who hold cash. Inflation benefits those who hold mortgages as the nominal value of their asset increases and the real value of their debt is reduced. A rudimentary understanding of economics provides insight into which side of the table the author really sits and I am willing to bet that it isn’t on the side of the common man. High interest rates have been blatantly used to cap wage demands while corporations moved manufacturing jobs offshore and concentrate wealth in the hands of a few. Cash unless it is invested is dead money and no one has the god given right to risk free returns after the economy has been plundered for the good of a few. Raising interest rates will increase the cost of doing business thereby increasing unemployment and increase the debt burden to homeowners. Those who advocate raising interest rate in these tenuous economic times, just really want a fire sale on the remaining assets and their specious arguments do little to mask the truth. Grandmothers beware!

    17th August 2011 at 6:35 pm

  64. Administrator says:

    TFlanagan

    Are you a fucking communist? You don’t have a rudimentary understanding of your asshole. Interest rates are being artificially suppressed by a private cabal of bankers to rape the American saver. Interest rates should be dictated by the market. Not you or some prick in Washington DC.

    How do you think a country grows you idiot? A healthy economic system grows by people saving and investing in the country.

    You must be a Keynesian numbskull who thinks twice the stimulus would work. It fucking failed. We’ve had zero interest rates for three years. EPIC FAIL for real Americans. Billions in profits for bankers and Wall Street shysters.

    Beware of TFlanagan – a lying Wall Street whore.

    17th August 2011 at 7:25 pm

  65. llpoh says:

    As soon as I saw TFlan post I ran out and popped the corn as I knew what was gonna happen.

    17th August 2011 at 7:32 pm

  66. Petey says:

    ” Economics 101, is a transfer of wealth from the have to the have nots.”

    LOL….You, including Marx in my opinion, have it wrong. It is a transfer of wealth from the savers and frugal (rich or poor) to the speculators (rich or poor). There are many of the “proletariat” out there that want their savings to keep their value, and many “bourgeois” that desire the easy money. Think about it, what does the middle class retiree (saver) or conservative middle class worker want (saver) and what does the average Goldman Sach VP (speculator) want? What would say someone like a Rothschild (saver) want and what would an underwater lower middle class homeowner want (speculator)? It is simpleton thinking to divide society into have and have-nots.

    Inflation depreciates the capital companies hold. It decreases the standard of living of those labor folk that, judging from your post, you defend which will cause them to strike, bitch, moan, and then the company moves offshore. We have had lots of speculation for the past decade up until now. Maybe it’s time that the cost of borrowing increases so that the most stable, wise, and profitable ventures win.

    17th August 2011 at 8:30 pm

  67. TFlanagan says:

    I didn’t know there were any American savers. I thought they were nearly extinct. Hard to imagine how there could be when the average American income is $25,000.
    Oh right, these are the invisible minority, the ghosts of the middle class past. They simply don’t exist in your Tea Party world.
    Money doesn’t grow economies or create wealth, it is the labour of workers who create something of value for others to consume or use. In fact, interest rates could be thought of as a tax on wealth creation.
    Oh yes and I think you confuse bank bail-outs and hands out to the rich with Keynesian stimulus. Interesting example of double think.

    17th August 2011 at 8:43 pm

  68. Kill Bill says:

    Cash unless it is invested is dead money -TF

    Yeah, so splain to me again these toxic assets [secure investment vehicles] again that are being bailed out with newly printed money.

    17th August 2011 at 8:49 pm

  69. Kill Bill says:

    Oh yes and I think you confuse bank bail-outs and hands out to the rich with Keynesian stimulus. Interesting example of double think. -TF

    The bailouts were to remove toxic assets from bank balance sheets and not employ people to dig holes then fill them in.

    17th August 2011 at 8:55 pm

  70. Petey says:

    Jeebus…After reading through the rest of TFlanagan’s post, I conclude he is spouting emotional demagoguery. Small businesses incorporate too you know. Are you going to chastise them with your lack of understanding of the real world. You sound like an entitled, whiny 16 year old. Cash is not dead money in a bank fucktard, they fraction it out regardless of interest rate. They’re more careful when they are higher. The principals drop too when rates rise, so people getting new loans would owe less not more.

    “no one has the god given right to risk free returns after the economy has been plundered for the good of a few.”

    Tell me, oh wise one, who gets such and such a right and who doesn’t. The “risk free returns” are for those who get to borrow at .025 % and loan it out at 3-4% or earn ~2% in the treasury market. Yeah some return I’m getting on my savings (.08%) while I make $12/hr.

    Yep, definitely either a 16 year old or a fluffer shill who works at Fannie or Freddie. Fuck off you loose cunt.

    17th August 2011 at 8:55 pm

  71. Petey says:

    “it is the labour of workers who create something of value for others to consume or use”

    And tell me, how would those brutes do if it wasn’t for the minds of the men who run the place?

    17th August 2011 at 8:57 pm

  72. Petey says:

    The average income in the US is not $25,000. The 50th percentile in 2009 (after the crash) was $49,777.

    17th August 2011 at 9:01 pm

  73. Kill Bill says:

    I think ignorance is a willful thing Flanagan

    So I wont call you stupid.

    17th August 2011 at 9:01 pm

  74. TFlanagan says:

    Posters, I managed to coax you out of the rock from where you hide! You are showing your true colours. You really don’t have the interests of the working man or common good at heart. You represent a small elite group who pretend to care about the people who have been most hurt by this economic debacle so as to have a wider audience for your asinine ideas. Brutes indeed! Hah

    17th August 2011 at 9:13 pm

  75. llpoh says:

    KB – you are really too soft-hearted. Go ahead and call him stupid.

    17th August 2011 at 9:15 pm

  76. Kill Bill says:

    Economics 101, inflation is a transfer of wealth from the have to the have nots, as the real value of debt is diminished through inflation, -TF

    American History 101

    Bankers would often hide when inflation arose, far out west, so those who owed them could not pay off their debts, much like those in the days of the Weimar who could not be found.

    17th August 2011 at 9:15 pm

  77. howard in nyc says:

    hey, d’ja hear dat?

    i’m an elite!

    what a maroon.

    17th August 2011 at 9:15 pm

  78. Kill Bill says:

    KB – you are really too soft-hearted. Go ahead and call him stupid.

    No sense in repeating myself =)

    17th August 2011 at 9:17 pm

  79. TFlanagan says:

    Oh by the way, Petey average and median are not the same thing. Might be a little too complex for you to understand.

    17th August 2011 at 9:17 pm

  80. Administrator says:

    TFlanagan

    What fantasy world do you live in? You’re nothing but a blowhard spouting talking points from your Keynesian playbook. There are 40 million senior citizens who depend on interest income to survive.

    You have a warped vision of America. In a sustainable economy, workers earn wages and they spend less than they consume. They save the difference and build wealth. The savings are used to invest in plants and equipment to further grow the economy and hire more workers. The savers expect a fair return on their money.

    When a central bank artificially lowers interest rates, they create mal-investment and bubbles. You reveal yourself to be a liberal ideologue spouting the usual rhetoric. Your type never have any facts to back up your bullshit. Facts are inconvenient to your false storyline.

    Your beloved Obamanistas took $800 billion and handed it out to his constituents and it got us ZERO economic growth and no jobs. Tell us how it should have been $1.6 trillion and it would have worked. I love those Krugman/Keynesian fantasies.

    You came to a gunfight with your finger in your ass TFlan.

    17th August 2011 at 9:20 pm

  81. Kill Bill says:

    You really don’t have the interests of the working man or common good at heart -TF

    You have only coaxed your lively imagination and induced it to believe what you think that I am.

    In other words, dear sir, you have projected a false truth upon me for which you can try and attack me with,

    For shame.

    17th August 2011 at 9:22 pm

  82. Petey says:

    You represent a small elite group who pretend to care about the people who have been most hurt by this economic debacle so as to have a wider audience for your asinine ideas. Brutes indeed! Hah

    HAHAHA….This has to be a joke. I’m elite everyone. 23 yrs. old just starting out, and I make $12/hr, but I do have decent health care coverage. Had to move back in with the ‘rents. Hey but I guess that’s rich these days. TFlamer definitely has me pegged.

    Brutes indeed! Hah

    I was also talking about the engineers who design the products not just the management/business men too, when I referred to the men/women who run the place. If you think that you deserve a $50,000/yr pay + 100% healthcare to wait for a piece of metal or whatever to come by you and then you perform a single task on it, I’ve got a bridge in Brooklyn to sell you. Those jobs are being replaced with robots creating a need for higher skilled labor, which there is a shortage of here in the U.S. Of course you will probably shout, “OMG, no more jobs for humans!!!” in complete fear and misunderstanding. Well, they shouted that about ~250 years ago as well, read some Hazlitt.

    17th August 2011 at 9:25 pm

  83. Petey says:

    Median is just as good of a measure. Either can be skewed depending how the data lines up.

    BTW according to the SSA the average wage was $40,711.
    http://www.ssa.gov/oact/cola/AWI.html

    So, I was just a little off. But it wasn’t you’re moronic $25,000.

    17th August 2011 at 9:29 pm

  84. Petey says:

    edit: your

    17th August 2011 at 9:30 pm

  85. Buckhed says:

    TF. said “Economics 101, inflation is a transfer of wealth from the have to the have nots”

    This is the most ignorant line ever written on TBP. TF you have no understanding of even the rudiments of Econ for if you did you’d have never written that line .

    Please read a few books by Von Mises dealing with inflation, before you show how ignorant you are .

    17th August 2011 at 9:30 pm

  86. Administrator says:

    TFlan

    You are clearly for the masses. Your $25,000 figure is only off by 35%. Close enough for a Krugman worshipping ideologue. See we use facts on this site to come to rational conclusions. You should go over to Krugman’s blog and jerk him off. Only a liberal ideologue would pretend to care about the workers of the world and think that 0% interest rates for savers is dangerous to senior citizens, while they enrich Wall Street bankers.

    Your thought process is so warped, I wonder whether you were in a horrible car accident and the lobotomy didn’t work out well.

    17th August 2011 at 9:38 pm

  87. TFlanagan says:

    Don’t you think your misogynist comments undermine the credibility of anything you might have to say. I really don’t know how any site with any credibility would carry your articles. Furthermore I did not give you permission to use my first name and I will be contacting a lawyer concerning this.

    17th August 2011 at 9:49 pm

  88. Administrator says:

    FUCK YOU TFLAN & FUCK YOUR LAWYER

    17th August 2011 at 9:50 pm

  89. Petey says:

    Wow, so not one fact, link, personal experience, economic principle (other than inflation benefits speculators), etc. to back up anything you claimed so you have to resort to “I’m getting my lawyer.” I know you are just joking as a scare tactic (I think this whole back and forth has been a joke based upon the ignorance in your posts), but I would like to point out that you did use your first initial along with your last name as your ID, if that truly is your first initial and last name.

    17th August 2011 at 9:57 pm

  90. Administrator says:

    Hey TFlan

    My articles get picked up by hundreds of great websites. My articles are based upon reason and facts, not liberal ideology backed up by lies and misinformation.

    I did not give you permission to post drivel on my site. I will be contacting Paul Krugman and telling him one of his retarded monkee worshippers has escaped from his zoo.

    I love when scum like you drop a shit bomb on a site and then are indignant when we kick the shit out of you for being a dimwitted troll,

    17th August 2011 at 9:58 pm

  91. Kill Bill says:

    I did not give you permission to use my first name and I will be contacting a lawyer concerning this.

    It doesnt matter Trish.,

    My first name is Brad’

    How many Trishs and Brads are there in this world?

    17th August 2011 at 10:05 pm

  92. Kill Bill says:

    This popcorn is really good tonite.

    17th August 2011 at 10:14 pm

  93. Buckhed says:

    I can’t personally recall anything or anyone who benefits from inflation or anyone who has written that long term inflation is a good thing.

    Can anyone tell me how inflation, which has destroyed the buying power of a dollar since 1913 is a good thing .

    Trish…do you want to explain to me how inflation transfers wealth from the have’s to the have not’s ?

    17th August 2011 at 10:14 pm

  94. llpoh says:

    I called it early – Nostadamus had nothing on me. I knew Tflanagan had stepped into it with both boots, and the shitstorm would rain down on TFlanagan.

    images?q=tbn:ANd9GcTP29H9ZKL1_L74Xw8q3KRlVdR70zIHH1xYEcqRCRT_BTWCw24u

    I expect that readership will blossom mightily with the continued evisceration of the endless stream of dolts that raise their heads. Everyone loves it when buttholes get the reaming they deserve.

    17th August 2011 at 10:15 pm

  95. Colma Rising says:

    TFlanagan:

    If you actually have worked a job that requires literally your blood and sweat, you wouldn’t be so gung-ho about inflation. Do you think for a second that the working person or the working poor (I’m the latter) is at all in the same time-zone as inflation? Doesn’t economics 101 mention that the last thing to rise with monetary inflation is wages? Or were you asleep? Do you like increasing grocery, gas, housing, medical and food bills while you wait it out for a raise that even begins to cover those things? That’s what you’re saying. It’s akin to “Trickle Down”. Do you support that economic pipedream as valid? Newsflash: None of it works right now.

    I declare that, in my educated and experienced opinion of what you suppose to have knowledge about, you are indeed a Communist without a callous (Which I equate to a Capitalist without cash) and are unqualified to dictate to working people anything.

    Your vitriolic rhetoric and condescending dimeanor is sickening, if not shocking.

    17th August 2011 at 10:18 pm

  96. llpoh says:

    I really loved this part of the initial Tflanagan post: “A rudimentary understanding of economics provides insight into which side of the table the author really sits and I am willing to bet that it isn’t on the side of the common man.”

    It was there and then that I knew the wrath of Admin would be unleashed. If only TrollFlanagan had been smart enough to leave that bit out, then perhaps only a small smattering of poo would have dropped down. But, no, instead we got ShitStorm!

    n129263_SET-PHASERS-TO-SHITSTORMs.jpg

    17th August 2011 at 10:18 pm

  97. llpoh says:

    Colma – Dammit – if you are gonna use big words to flame someone, then be sure to spell them correctly. I would have given you a 9/10 for the last flame, but had to mark you down for “dimeanor” to 6.5/10.

    However, if you had stuck to a more basic “now listen here, you ignorant slut”, you would have actually been marked up for misspellings as it would have reflected your general mood and would have brought some realism into the flame.

    17th August 2011 at 10:23 pm

  98. Petey says:

    Anyone else out there lurking on this site, please ask a question first if you are unsure. We really don’t have time for ignorance in these perilous days. And please at least don’t let your first line be “inflation benefits the have-nots” if you do decide to dive in head first. Good god TFlan.

    “With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.”

    F.A. von Hayak

    17th August 2011 at 10:29 pm

  99. Colma Rising says:

    TFES

    Did I spell THAT right?

    17th August 2011 at 10:35 pm

  100. casamurphy says:

    Is there a way to search on this site for one’s previous comments?

    18th August 2011 at 12:12 am

  101. llpoh says:

    When you log in I think it may show previous comments etc. Don’t hld me to it tho.

    18th August 2011 at 12:20 am

  102. MMB says:

    HELLO – - EARTH CALLING SPACE – – NEWS FLASH – - THE FEDERAL RESERVE BANK IS A PRIVATE BANK OWNED BY THE WALL STREET MONEY CENTER BANKS – BEN BERNANKE IS AN EMPLOYEE OF THE WALL STREET BANKS. – ALL HIS DECISIONS ARE IN THE BEST INTERESTS OF HIS EMPLOYERS. – - HE IS THE FRONT MAN FOR WALL STREET BANKING CARTEL WHICH IS SUCKING THE LIFEBLOOD OUT OF OUR GREAT NATION.

    THE FACT IS WE DON’T NEED NO STINKING PRIVATE FEDERAL RESERVE BANK TO PRINT OUR MONEY AND THEN CHARGE US INTEREST ON MONEY THEY CREATED OUT OF THIN AIR. IT’S THE GREATEST SCAM IN THE HISTORY OF THE WORLD.

    18th August 2011 at 9:26 am

  103. eugend66 says:

    Ear-plugs, everybody !!
    Hey: smiley-computer001.gif

    18th August 2011 at 10:01 am

  104. Indentured_Servant says:

    This place is alright! Informative blog posts, entertaining comments and classy flame-war critiques. Almost makes me wish I was unemployed so I could keep up! It’s like someone pried open my melon and pasted nearly every thought I’ve ever had!

    18th August 2011 at 11:35 pm

  105. llpoh says:

    Indentured – sounds like you will fit in! Don’t need to be unemployed – just do the best you can with the time you have to contribute!

    18th August 2011 at 11:37 pm

  106. Colma Rising says:

    Indentured: Get a smart phone and visit on your breaks like I do.

    If the boss starts to raise an eyebrow, tell a joke:

    “Heya boss, do you want to get a 20% yield?”

    “What, Colma?” (Dollar signs appear in his eyes…)

    “Buy some Greek Bonds!”

    (Rim shot, cue laughter)

    “Get to work, we don’t have all day….”

    19th August 2011 at 12:10 am

  107. Indentured_Servant says:

    Point taken but I work 10-16 hour days. From wake up to returning home it’s more like 12-18. I actually love my job and avoid complaining about the hours with so many unemployed. I’m too damn cheap to buy a smart phone. I do however get to take my laptop to work but get less than an hour a day on it usually.

    I’ve been trying to get my father to see the light and I think this post by admin might help to bring him around so I’ll print it and mail it to him. Being my only hero, he’s an intelligent man but at nearly 70 he is risk averse and just cannot fathom the coming collapse “because it has never happened” to the USA before. (currency collapse) Breaks my heart.

    19th August 2011 at 12:38 am

  108. Novista says:

    Indentured_Servant

    Welcome! Yes, we indeed have a match. No one has ever entered with such a cogent and concise description of this place.

    “Informative blog posts, entertaining comments and classy flame-war critiques.”

    Admin: That belongs in the header! With attribution.

    I_S, tell your father this 75 y.o. geezer has been actively preparing for the Death of the Dollar for five years.

    19th August 2011 at 6:00 am

  109. SSS says:

    I cut back to 6 naps a day and STILL missed another shitstorm. Maybe it’s the 2 hours a day listening to Lawrence Welk. Either that or my Alzheimer’s is worse than I thought.

    Admin

    Is there any way to flag an article that is developing into a shitstorm with a “little pile of poo” icon or one of those red exclamation points?

    19th August 2011 at 1:14 pm

  110. Administrator says:

    SSS

    The shit storm passed two days ago. It must have been a long nap.

    Our new friend TFlan sent an email to the guy running the 321Gold site complaining to him about how badly she was treated on TBP. He forwarded it to me. She copied every response to her drivel into her email.

    I’m awaiting the lawsuit in the mail.

    19th August 2011 at 1:25 pm

  111. SSS says:

    What a whiny (rhymes with witch).

    19th August 2011 at 1:56 pm

  112. Colma Rising says:

    Admin: Was my response in there, too? I was very disturbedd by her outrageousness and futher harrasment by TFlanagan with frivolous suits would undoubtedly rain legal penalties on TFlanagan and possibly her counsel.

    I wouldn’t worry.

    Maybe a disclaimer wouldn’t be a bad idea, though.

    19th August 2011 at 2:48 pm

  113. Thinker says:

    I’m not a lawyer, but it would seem highly illogical that someone would have a case when they identified themselves through the choice of email they used to register to the site. Trish can talk whatever legal mumbo-gumbo she likes; she’s the one who used her personal name and email here.

    There’s no reasonable expectation of privacy in cases like that.

    19th August 2011 at 3:10 pm

  114. Administrator says:

    Thinker

    My crack legal team is ready for TFlan’s assault.

    29262184:jpeg_preview_medium.jpg?20110715234921

    19th August 2011 at 4:18 pm

  115. AWD says:

    Da Nig:

    Nice, show up on a website with a name that is offensive, say some offensive shit. Are you new or just some reiteration of other assholes who’ve shown up lately (and are too scared to use those names). I’m all for banning you based on your screen name, douchebag, if your looking to get your balls kicked in, you came to the right place.

    19th August 2011 at 4:46 pm

  116. Welshman says:

    I read this rant early, and did not go back to check the comments. llpoh is not in the flame throwing section, he is now The Coach of Flame 101. Colma, you did gooood. RE is still the only communist I ever liked.

    20th August 2011 at 8:44 am

  117. Melting Markets and Last Week’s Random Links | 101 Centavos says:

    [...] as another week of Federal Reserve hijinks went by.  From The Burning Platform:  Bernanke Pledges to Screw Your Grandmother For At Least Two More Years. The title may strike some as inflammatory (not to mention an icky mental picture), but facts are [...]

    22nd August 2011 at 7:03 am

  118. Rob says:

    I enjoy reading articles here as it requires me to think a little. The comments are just a bonus. If I can add my two cents I’ll say that inflation isn’t great for me because the maple syrup I poured on my pancakes this morning cost $9.50 for 500ml (about pint). I can’t afford to put butter on them anymore because I live in Canada but that is another story. Anyway great article and great comments. Keep up the good work. Cheers

    22nd August 2011 at 8:36 am

  119. FRED FLINTSTONE says:

    Did some idiot really ask if inflation helps anyone? Hell Yes! Those who mortgaged their asses to the devil and spent tomorrow’s pay yesterday will get the luxury of paying back that debt with dollars worth much less than the ones they borrowed. Reference the history of the scrip issued during the American Revolution. They were known as Continentals. People actually made suits out of them and wore them in protest. Creditors were known to actively flee debtors attempting to repay them in this form of fiat. Imagine we go Weimar or Zimbabwe. Wouldnt it be nice to be debt free for about 12 seconds work? However, a moldy onion will set you back about 60Billion but what the hell.

    22nd August 2011 at 11:50 pm

  120. Monday Morning Links | Iacono Research says:

    [...] – nj.com World Repeating Japan’s 1997 Mistake: Former Fed Economist – CNBC Bernanke pledges to screw seniors for at least two more years – TBP No comments [...]

    26th February 2012 at 8:48 am

  121. BERNANKE PLEDGES TO SCREW YOUR GRANDMOTHER FOR AT LEAST TWO MORE YEARS at US Action News says:

    [...] From The Burning Platform [...]

    6th April 2012 at 5:33 am

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