There Is No Hope Left: Listen to Bernanke's Answers To Ron Paul's Questions Yesterday

[jem]

Ron Paul is right Bernanke is the joke. Thats the feds trillion dollar joke.

they are pretending the market is broken. The market is adjusting to the new reality. A reality in which people do not lend their own money on risky ventures unless they get a very high rate of promised return. They don't lend money to people who are not qualified to buy it or at least have the assets to keep paying on it if it goes down a few hundred thousand.

The only way to make these banks solvent is to create banana republic inflation. When salaries go up enough to qualify people for these overpriced properties... they might be able to save the banks.

The Fed's program seems to be designed to kill the republic but save the banks.

 

[jonnyy40]

I wouldn't worry.When you're on the breadline,a fellow ET'er will share with you his money-making stock system rules and stake you for your first trade,too.

 

[4444CJones4444]

Quote from ljyoung:

One of the problems one has when dealing with a liar as profligate as Mr. Bernanke, is having/taking the time to digest the load that has just been dumped on you (shit is notoriously difficult to digest). It is tiresome at best to hear the 'you got to be able to think on your feet' crew chime in when the response to the crap takes longer that a certain amount of predetermined time. Bernanke is a toad of the first waters and with any luck will soon by enjoying a new career blathering on some lower tiered lecture circuit.

lj

So basically he's a Greenspan clone minus the charisma. Yeah, we might be fucked.

 

[scriabinop23]

You guys are out of your minds. It is an incomplete conversation, and one that Bernanke handled well.

Ron Paul's little hobby of his Austrian agenda is a joke. If you want us to have a 2T GDP instead of a 14T, then by all means, go worship him.

 

[forextrades]

Quote from scriabinop23:

You guys are out of your minds. It is an incomplete conversation, and one that Bernanke handled well.

Ron Paul's little hobby of his Austrian agenda is a joke. If you want us to have a 2T GDP instead of a 14T, then by all means, go worship him.

I guess I'd rather have a $2T GDP and a monetary system/government that actually work rather than $14T worth of shit.

 

[scriabinop23]

Quote from forextrades:

I guess I'd rather have a $2T GDP and a monetary system/government that actually work rather than $14T worth of shit.

That $2T GDP means a lot less to go around for everybody -> lower living conditions, believe it or not.

 

[Angrycat]

Quote from scriabinop23:

That $2T GDP means a lot less to go around for everybody -> lower living conditions, believe it or not.

Yes, but so far the only countries that have achieved such magnificent declines as $14T to $2T have followed monetary policies like Bernankes' along with government interventionism like Bush & Obama's.

 

[Tigerjaw]

Quote from RiceRocket:

I'm well versed in the Austrian school of economics, but it seems that Ron Paul got schooled here. How can we have free markets without price discovery?

The price of the 'assets' have been discovered- - - its zilch, nada, nothing.

Those prices were artificially inflated through the actions of the Federal Reserve. Now theyre just playing games so that they can pass the losses on to the taxpayer.

 

[stock777]

The biggest ponzi of all is the salaries you are paid.

pray the game continues.

 

[ByLoSellHi]

Let me interject a simple few questions here.

Anyone is free to comment or respond.

What, precisely, is the Fed's 'balance sheet,' what gives it inherent value (if anything), can the Federal Reserve expand it or contract it (and how), and how does monetary expansion affect it?


* Bernanke sure acts 'proud' when speaking of the Fed's balance sheet.