Submitted by Steve Z.
Guest Post by 2nd Smartest Guy in the World
When one of the most sociopathic and mendacious economists whose predictive track record was around 0% is awarded the Nobel Prize on the eve of the Greatest Financial Crisis that he was instrumental in creating with his profligate QE money printing, you know we have finally reached peak Ponzi.
by Tyler Durden
The Nobel Memorial Prize in Economic Sciences was awarded to former Federal Reserve Chair Ben Bernanke and two others for their research in the 1980s on banks and financial crises.
Bernanke served as chairman of the Fed between 2006-14 and famously unleashed a tidal wave of debt monetization by the central bank during the GFC over a decade ago to save the so-called ‘too big to fail’ banks. At the time, the Fed’s balance sheet was approaching $2.5 trillion. Multiple rounds of money printing later and a massive expansion during the Covid crisis, the balance sheet stands at around $9 trillion today.
The side effects of former Fed chair Yellen and current Fed chair Powell keeping the money printers on full speed over the last decade since Bernanke is one of the main reasons for today’s worst inflationary environment in decades. And why the Fed is in panic-tightening mode today.
Douglas W. Diamond, an economist at the University of Chicago, and Philip H. Dybvig at Washington University in St. Louis also won the ‘prestigious’ prize alongside the former Fed chairman.
Bernanke’s analysis of the Great Depression in the 1930s showed how and why bank runs were a major reason the crisis was so long and severe. Diamond and Dybvig’s work, meanwhile, looked at the socially important role banks play in smoothing the potential conflict between savers wanting access to their money and the economy needing savings to be put into investments; and how governments can help prevent bank runs by providing deposit insurance and acting as a lender of last resort. –CNBC
The Nobel committee said their work “significantly improved our understanding of the role of banks in the economy, particularly during financial crises, as well as how to regulate financial markets,” adding their research “reduces the risk of financial crises developing into long-term depressions with severe consequences for society, which is of the greatest benefit to us all.”
The work for which Ben Bernanke, Douglas Diamond and Philip Dybvig are being recognised has been crucial to subsequent research that has enhanced our understanding of banks, bank regulation, banking crises and how financial crises should be managed.#NobelPrize pic.twitter.com/4drJwZ0yF9
— The Nobel Prize (@NobelPrize) October 10, 2022
The committee noted that their research was “invaluable” during the GFC and Covid crises.
“The laureates have provided a foundation for our modern understanding of why banks are needed, why they’re vulnerable, and what to do about it,” said John Hassler, an economist at the Institute for International Economic Studies at Stockholm University and a member of the prize committee.
While a decade of money printing may have avoided a “long-term depression” (for now), it certainly has had adverse side effects, such as triggering the worst inflationary environment in forty years.
Many on Twitter thought Bernanke’s award was a ‘joke’.
I feel like this has to be a joke, but I'm not sure….clown world status makes it tough to tell
— NeverStopMovingForward (@KeepFighting90) October 10, 2022
Bernanke getting Nobel prize for economics is simply equivalent to ISIS getting peace Nobel
— Martha (@Martha_aka_eve) October 10, 2022
Powell should also get for being the best inflation forecaster
— Alok (@thegametheorist) October 10, 2022
Can’t believe it! The guy indulged in money printing merited with a Nobel prize. J Powell should get two then
— tk (@tk96519713) October 10, 2022
Give it ten years or so…
And we must remind readers Bernanke famously told the American people ‘there was no housing bubble‘ in late 2005 — only a few years later, well, all know what happened…
Here’s Bernanke, leading up to the GFC, showing just how wrong he was about the coming crisis.
But somehow, he still won a Nobel prize a decade later…
If there were any questions as to the legitimacy of the Nobel after, say, Obama received the Peace Prize or fellow clueless Ivory Tower economist and hack Paul “the internet is no more important than the fax machine” Krugman, then this latest award should dispel all myths that this prize has much merit left. And the Nobel committee is certainly as WEF “penetrated” as are governments all around the world.
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When you are forever creating crises, you would tend to be an expert. Alfred Nobel would be ashamed at how his named prize has been so thoroughly discredited by those who have received it….in virtually every category (especially peace and economics).
Alfred Nobel was a POS too, he created the “prizes” for PR
It’s Monday. Let’s make a list…
Actual Clown World Nobel Winners:
1.) Kwami/Barry Obama – Peace Prize for being Pro-War
2.) 3 Jewish Guys (well, maybe not Dybvig although he is a former Yale and Princeton Prof., but Bernanke and Diamond? C’mon Man!) – Economics Prize for being Pro-Debauchery/Pro-Ponzi
Future Clown World Nobel Winners:
1.) Physics – Joe Biden. An object at rest, stays at rest.
2.) Chemistry – Rachel “Big Dick” Levine. The inventor of “anti-viagra”…”It can make your dick disappear for up to 4 hours! If your Dick disappears for longer than 4 hours, seek medical advice”. That’s not your mother…that’s a man, baby!
3.) Physiology/Medical – Multiple ties including: Lori “Ms Goldfish” Lightfoot and that crazy bitch in LA that looks like a heroin addict and runs the health dept., AOC due to her untreated “Horse-Mouth-Disease”, Stacey Abrams for her giant ass alone, and the balance of gullible U.S. women that voted Clown-World-For-The-Win. The epitome of “health”, mentally and physcially, shines through in these fine women!
4.) Literature – Again, multiple awards here. Drag Queen Story Hour represented all winners, with Lola having the smallest…bulge. See Dick run….Noooooooooooo! They were all “Janes” – I swear, really!
I thought the title of “Biggus Dickus” belonged to Lori Lightfoot?
To the complete and total surprise of no one.
It is called The Narrative for a reason. If it were the truth it wouldn’t need anyone to explain it.
French mother of wokeness author Annie Ernaux won Nobel prize of literature, it must be a trend.
https://www.ibtimes.com/french-author-annie-ernaux-wins-2022-nobel-prize-literature-3621121
Obama wins a peace prize and now Bernanke wins for economics, on the eve of the greatest implosion in the history of economics!
Everyday Clown world reaches new heights.
Don’t forget Yasser Arafat, truly a man of peace.
Kind of like Britney Spears being in the Rock & Roll Hall of Fame.
Fucking ridiculous.
Ig-Nobel
The prize for best preserving your rulers’ narrative.
After odumbo onnga won it I didn’t understand why Trump made a big deal about being nominated. He should said since odumbo won it it means nothing pppsssssssttttttttttt on it.
QOTD: Which is least relevant and/or a meaningless waste of time
Nobel awards or The Olympic Games?
I’d have to say… The Olympic Games, as they glorify obscure almost-sports, prestige travel ‘n’ tourism, public-private real estate boondoggles, and athletics as National Performance. Play more anthems, and put out more flags!
My hat’s off to the actual athletes, though, who should focus on their own skills and achievements, rather than on Baron de Coubertin’s wet-dreams.
https://www.cnbc.com/video/2017/08/03/cramers-they-know-nothing-10th-anniversary-rant.html
Very fitting, the fake economist wins a fake Nobel prize…
(he got “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”)
Didn’t Time magazine once give person of the year to “The People”?
Let’s just give a universal Nobel to all academics with theories and hypotheses that utterly fail to accurately predict anything. Then call it quits.
Not meant to disparage the Austrian School of Economics
On October 10, 732, Charles Martel led an outnumbered Christian army to victory against the Muslims at the Battle of Tours—destroying the Umayyad Caliphate’s invasion force, and halting the spread of Islam into Europe.
Christianity triumphs.
Only to be shit on 800 years later by money lenders and their newly created ,useful idiot Protestant fags.
Philip II: (1527-1598)
William Thomas Walsh
“It did not occur to the kings that if the money-lenders ever got
power enough, if they ever got from under the public-spirited
repression of the Church, they would destroy their own masters.
Kings were not generally as far-sighted as money-changers, and
much less so than priests. This is not to deny that clerics sometimes
condoned usury and profited by it, or that some kings repressed it.
Human affairs are never so simple as that. But there was a line of
cleavage: the Church on one side hostile to usury, the kings
compelled to make use of it on the other.
As the moral influence of the Church was weakened in the
political and economic spheres, in consequence of a series of
calamities for which she was not to blame—the Black Death, the
papal exile at Avignon, the Great Schism, the return of paganism
with the Renaissance—usury began to accumulate wealth and to
organize its influence. With canny insight it threw its influence, by
and large, against the power of Church and State, supporting now
one, now the other, until, by a see-saw process, it succeeded in
weakening both.
It early identified itself with the forces of heresy in religion and
liberalism in politics, until Protestantism at last gave money-lending a
certificate of respectability, until a Lord Bacon could write a serious
defense of it, and Harrison (in Holinshed) must chronicle the
capitulation of the new Protestant England to “usury, a trade brought
in by the Jews, but now perfectly practised almost by every
Christian, and so commonly that he is accompted but for a fool that
doth lend his money for nothing.”5 ”
https://libgen.is/book/index.php?md5=1889B28539B7506D637C3D5605BFD2A0
Are you describing the 8th Century England — or the 21st Century First World?
>>> the Church was weakened… in consequence of a series of calamities for which she was not to blame… the Great Schism
With all due respect to Ann Barnhardt, the Church must bear at least some of the blame for the Great Schism; the Orthodox, of course, would say all of it.
Ann seems sincere, but she really needs to do more unbiased research
what part….smh.
Philip II: (1527-1598)
William Thomas Walsh
Flash — this is not the same Phillip, just a bit farther down the line, but extremely interesting in its own right:
http://mileswmathis.com/phillip.pdf
Thanks…sounds interesting as every thing Mathis writes is…
Phoenician Navy, all the way down — and under, over, and across…
He’s coming for you, Ben.
Wow! A Blast from the Past… the Drudge Report.
Not the past, anon. https://www.drudgereport.com/?onwardjourney=584162_c1
Nothing refutes Kanye’s claims like having the jews use their massive power, wealth, and influence to silence him and destroy his life.
On I-95 at one of the two Dillon, SC Exits there was (is?) a small sign saying “Hometown of Ben Bernanke”. Somebody put a Ron Paul campign sticker on it.
Quite fitting.
Nikola Tesla …. surely in the Top 5 smartest people to have ever walked this planet … never won a Nobel prize.
That’s all you need to know about those fucken Norwegian faggots.
Nor did probably THE greatest mind in the Western World — Leonardo da Vinci …
Wut ?
Since he was dead hundreds of years before Nobel was even born, it’s not really something to get outraged over.
Stucky — totally agree about Tesla; he was railroaded in more ways than one, and we know only a little of what he did and what he envisioned.
Note that the cucked Swedes give out the Nobel prize for economics, which was a later add on (not part of the original awards funded by Alfred Nobel).
Nobel prize, welcome to the club of useless eaters appointed by useless eaters. Some fucking award that is. Khazar’s celebrating Khazar’s, what else is new.
I didn’t know white people could still win, even if it is phony. Something needs to be done about that.
🤣 NOT a laughing matter.
Perfectly logical. Taken to Extremes.
Of Rubbing Our Faces in It.
https://www.thoughtco.com/history-of-dynamite-1991564
barry & bernanke? BLEW UP PLENTY!
So a prize named for the man who is responsible for massive quantities of dead people worldwide by inventing dynamite is given to other criminals for their fuckery of mankind. Seems fitting.
The Federal Reserve system covertly transfers ‘profit’ derived from auctions of Treasury securities to unknown shareholders. All profit of the Rothschild’s Fed legally belongs to the government. The relevant accounts have never been audited.
Globalist’s source of unlimited funding is analyzed to come from the FRBNY’s exclusive handling and ‘disappearing’ of funds from auctions of Treasury securities. TreasuryDirect Institutional tabulations historically identified ‘new cash’ and implied the funds went to the government. If that money went to the government, it would be the same path as tax revenue [from public funds to government coffers]. Such a flow would eliminate any increase in National Debt and also avoid any increase in circulated market value [inflation]. Money exceeding that which is used to roll over prior debt is generated from the auctions which is NOT transferred to the government. Nobody, including Cato, Mises Institute, and others, has identified where that money goes.
Ref.
THIS IS OUR BANKING SYSTEM.
This scheme appears to have historic roots. Ref. Benjamin Ginsberg, FATAL EMBRACE; JEWS AND THE STATE.
Apparently, the world renowned Swedish Climate Czarette has a solution.