Kevin Hayden – TruthisTreason.net

Source: in part, Steve Watson

Texas Congressman and Presidential Candidate Ron Paul questioned Ben Bernanke, the Chairman of the Federal Reserve, on Capitol Hill yesterday.

Dr. Paul pulled out a silver eagle, explaining that it has retained its real worth and that hard assets should be used as currency as outlined in the Constitution.

Telling Bernanke that in 2006, when he took over at the Fed, an ounce of silver bought about 4 gallons of gas, where as today it will buy 11 gallons. “That’s preservation of value,” said Paul.

Begin watching at the 0:58 mark for the action.

Paul called for a competing currency to the dollar, stating that the laws should be changed to allow precious metals to settle contract disputes and other legal obligations.

Bernanke addressed Paul by jokingly saying “good to see you again, Congressman”, before somewhat derisively saying he would be happy to consider the Congressman’s ideas and help him work out what currencies to hold.

Paul hit back by saying the government goes after those who attempt to use gold and silver as alternatives to depreciating Federal Reserve notes as if they are criminals, telling Bernanke “the record of what you’ve done is destroy the currency,”...

Kevin Hayden – TruthisTreason.net

Source: Truth is Treason.TV

We explore some of the benefits of alternative currencies and bartering, with a focus on the Liberty Dollar.

I’m currently on a work assignment in Texas, so I made this short video in my hotel room. You’ll have to pardon the voice-overs and backdrop....

Kevin Hayden – TruthisTreason.net

The Leading Cause of Breast Cancer: Medical Radiation
But keep getting those scans, the New York Times reminds you.

Department of Homeland Security Using Fake Facebook and Twitter Accounts to Monitor Posts Containing Certain Keywords
Words such as collapse, virus, human to animal, zombies, and more will get the Suits’ attention.

TEPCO says it ‘no longer owns’ Fukushima fallout
Tokyo Electric Power Company claims that it no longer owns the radioactive isotopes that spewed out of its Fukushima Daiichi nuclear plant in March.

Americans Shoplifted $1.8 Billion Worth of Stuff This Christmas

Kelly Clarkson, ‘AMERICAN IDOL’ winner endorses Ron Paul

US Dollar Domination – Just Another Footnote In History

A Run On The Global Banking System – How Close Are We?

Mexico’s cartels build own national radio system

Bernanke is a Domestic Terrorist
According to US Justice Department logic, says Simon Black....

Kevin Hayden – TruthisTreason.net

Source: Economic Policy Journal by Robert Wenzel

Here they are - the Financial Stability Board has released a list of 29 banks that it considers global systemically important financial institutions (G-SIFISs) and thus, considered Too Big To Fail.

The initial list of G-SIFIS:

Belgium: Dexia
China: Bank of China
France: Banque Populaire, BNP Paribas, Crédit Agricole, Société Générale
Germany: Commerzbank, Deutsche Bank
Italy: Unicredit
Japan: Mitsubishi, Mizuho, Sumitomo Mitsui
Netherlands: ING
Spain: Santander
Sweden: Nordea
Switzerland: Credit Suisse, UBS
UK: Barclays, HSBC, Lloyds, Royal Bank of Scotland
US: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street, Wells Fargo

Hayden’s Note:

It should be pointed out that most of the US “Too Big to Fails” are the major share holders of the Federal Reserve system and the foreign banks are the very ones that Ben Bernanke sent hundreds of billions of dollars to in the last major “bailout.”  The very bailout in which he refused to answer Congressional questions in regards to which foreign banks received American taxpayer money (but was later discovered in the partial audit co-sponsored by Ron Paul)....

Kevin Hayden – TruthisTreason.net

Source: SHTF Plan

If you believe Ben Bernanke and his merry band of money printers don’t care about what you think, then consider the latest product development proposal from the Federal Reserve Bank of New York. According to RFP (Request for Proposal) 6994, the Fed intends to build a real-time monitoring solution capable of mining and aggregating data across social networks like Facebook and Twitter, alternative news web sites and blogs, video sharing web sites, and mainstream media outlets.

Not only do they care about what you think, they want to know exactly who you are, what language you speak, who you’re talking to, where you’re getting your information, who you are sharing it with, and what your sentiment and emotional state is in reference to that specific moment.

Hayden’s Note:

I never, in my wildest dreams, thought that I would be tagging an article under both Social Networking and Federal Reserve categories in the same post.  Interesting....

TruthisTreason.net – Kevin Hayden

Source: Bloomberg

Gold advanced to records in London and New York as concern about more U.S. economic stimulus and debt woes in the country and Europe boosted demand for the metal as a protection of wealth.

The dollar fell against six major currencies after Federal Reserve Chairman Ben S. Bernanke said the central bank is prepared to take additional action, including buying more government bonds (from Goldman Sachs at a higher price than if buying from the Treasury Dept!), to boost the economy. Moody’s Investors Service said the U.S. may lose the Aaa credit rating it’s held since 1917, while Fitch Ratings slashed Greece’s rating and said that a default is a “real possibility.”

Hayden’s Note:

The Dollar ALWAYS seems to fall after Bernanke opens his mouth.  But in regards to this “debt default” nonsense, I have to offer a few words.  The Treasury and White House Administration are trying to scare Americans into thinking this “default” would be bad for America, that SS checks won’t go out the day after and that Moody’s is going to downgrade our credit....

TruthisTreason.net – Kevin Hayden

Federal Reserve Chairman Ben Bernanke faced off with economic genius Representative Ron Paul during his monetary policy report to Congress on Wednesday.  The head of the Fed was forced to respond to accusations of enriching already rich corporations while failing to help Main Street, while he was pushed on his views on gold.

“Gold isn’t money,” Bernanke said.

-in part from Infowars.com

Hayden’s Note:

I beg to differ.  Gold has been a form of money – if not one of THE most popular forms – for thousands of years, along with livestock, other precious metals and durable goods.  Gold isn’t money?  Then what is money?

Princeton defines money as “the official currency issued by a government or national bank.”

However, Thomas Greco defined money as:

“Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.”

The Google dictionary defines it as “The assets, property, and resources owned by someone or something; wealth” or “financial gain.”

Dictionary.com states the following in regards to “money” -

–noun

TruthisTreason.net – Kevin Hayden

Source: The Sovereign Man

Harold Camping has a pretty dismal track record. Thrice now, the 89-year old California evangelist has been very public about predicting the end of the world. Somehow he managed to convinced legions of followers that his complex calculations were accurate.

Camping was obviously very wrong all three times, in addition to other times he was wrong in making smaller predictions in his radio broadcasts.  We can, however, forgive Mr. Camping’s ‘miscalculations’ for the precise date and time of the world coming to an end, writing them off as twaddling, harmless entertainment.

Why? Because Harold Camping doesn’t control the money supply for the largest economy on the planet.

You see, there’s another guy whose track record is about as impressive as Harold Camping’s. His name is Ben Bernanke. And every time he opens his mouth with a prediction about the economy, it’s wrong. Dismally, dreadfully wrong.

Like Camping, Mr. Bernanke and his cronies make complex calculations, culminating in impressive-sounding prophesies for future rates of inflation and GDP growth. He makes predictions about economic recovery in 2010… er, 2011… er, 2012, and declares emphatically that a housing slowdown will not affect the broader economy....

TruthisTreason.net – Kevin Hayden

Source: International Forecaster - Bob Chapman

What the world is experiencing today did not happen by chance, it was planned that way.

What Congressman Louis McFadden said of the “Great Depression” is as true today as it was in the 1930s. As Chairman of the House Banking Committee he said, “It was no accident; it was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.”

What you are experiencing economically and financially today is nothing new. Just study history all the precedence is there. The bankers and their willing helpers do the same thing over and over again. As we have said often what these banks represent is corporatist fascism and monopoly. Through their great wealth they control most governments and their court systems. That is why your elected representatives do not listen to you. They have already been purchased by Wall Street and banking. These are the same people who have financed most wars on both sides for centuries....

TruthisTreason.net – Kevin Hayden

Source: Zero Hedge

David Rosenberg provides the key bulleted market observations that have marked the broad capital markets over the past few months.

• $950 billion of paper equity wealth has been wiped off the map in the past six weeks.
• The Dow is below 12,000 for the first time since March 18th.
• The Transports are down more than 8% from the nearby highs and are down for the year as well
• The Transports/Utilities ratio has broken down to its lowest level since November 9th of last year.
• The Nasdaq is now down for the year (-0.3%)
• The Russell 2000 index is also down for the year (-0.5%).
• The S&P 500 is just 1.1% away from seeing the same fate.
• The S&P 500 has declined in each of the past six weeks, the longest losing streak since June-July 2008.
• The S&P 500 has fallen below its 150-day moving average after breaking below the 50-day and 100-day trendlines earlier in this corrective phase; the 200-day is the next level of support.
• For the Dow, this is the longest string of weekly declines since the Fall of 2002.
...

TruthisTreason.net – Kevin Hayden

Source: Margo D. Beller – CNBC

Wall Street Baffled by Slowing Economy, Low Yields: Trader

Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

TruthisTreason.net – Kevin Hayden

Source: Economic Collapse Blog

As the U.S. economy starts to slow down once again, global financial markets are beginning to tremble.  Over the past couple of weeks, all kinds of bad economic news has been pouring in.  The ADP jobs report was a “disaster”, the housing numbers are dismal, manufacturing has slowed way down and consumer confidence is dropping like a rock.  The Democrats and the Republicans are bickering over the debt ceiling and this is causing a lot of uncertainty as well.  All of this bad news is starting to spook investors.  On Wednesday, the Dow was down 279 points and the NASDAQ was down 65 points. It was the worst day of the year for the Dow, and many are wondering what is going to happen next if we see even more bad economic data.  QE2 is slated to end at the end of the month, and already the bond markets seem to be anticipating QE3.  If the U.S. economy enters another significant downturn during the second half of 2011, it seems quite likely that the Federal Reserve would attempt to do something to stimulate the economy and that would probably mean more money printing....

TruthisTreason.net – Kevin Hayden

TruthisTreason.net – Kevin Hayden

Source: Economic Policy Journal

Last week Friday, I had the opportunity to spend time with Ron Paul.

It was a chance to get a sense of Dr. Paul that went beyond the short sound bites and brief television appearances that is the way we generally get to gauge presidential candidates. I met him in Reno, NV where he was on the campaign trail. I came up from California for the meeting.

Because of Dr Paul’s tight schedule, Jesse Benton, Paul’s communication director, gave me 30 minutes at 7:00 in the morning. Since Paul had given a speech the night before at the University of Nevada-Reno, I wasn’t sure how much energy he would have that early in the morning. But at 7:00 when I sat down with Dr. Paul at the Silver Legacy Hotel, he was wide awake and clearly ready for a full day.

On television the gentleman that Ron Paul is comes across, but in person there is more. There’s a personal warmth and almost a Ronald Reagan-like charm about him. (There’s pluses and minuses to Ronald Reagan, the president, but he did have that charm, and so does Dr....

TruthisTreason.net – Kevin Hayden

Source: Zero Hedge

A game of 20 questions with the Fed Chairman…

1. The rescue packages in 2008-2009 were all aimed at restoring CONFIDENCE to the financial system.  Yet from 2001 to 2011 the DXY is down 41.5 and gold is up 473%. Does this not equate to a loss of confidence in the US monetary system? If not how would you explain this phenomena?

2. In March of 2009 you said the ONLY reason you care about Wall Street is because of the affect it has on Main Street. You wanted to become Fed Chairmen to make things better “for the average person”. You have been Chairmen since 2006, do you believe you have accomplished your goal? And if so how?

3. In March of 2009 you stated that “many mistakes were made leading up to the crisis of 2008″, chief amongst them was “enormous amounts of savings has flowed into the United States, and some other industrial countries. That savings has come from China and East Asia. It’s come from oil producers. And it has– and hundreds of billions of dollars, it has come into our financial system....

TruthisTreason.net – Kevin Hayden

I am proud to announce that Truth is Treason’s Podcast is now up and running.  This week’s focus is the Federal Reserve and a Basic 101 intro for those new to economic issues and who runs the Federal Reserve.

PODCAST EPISODE #01, Federal Reserve Headlines

March 23rd, 2011 

Truth Is Treason.Net – Podcast #01 – March 23rd, 2011 by Truthistreason on Mixcloud 

If you are an author, researcher or political activist and would like to be interviewed on Truth is Treason Radio, send an email to: 

Contact [at] TruthisTreason.net 

or use the submittal form on the About | Contact Page.
 

Are you a film producer, radio host and or other media personality that needs more exposure? 

Get it here at Truth is Treason Radio! 

  

...

TruthisTreason.net – Kevin Hayden

Source: CNBC

The United States is on a fiscal path towards insolvency and policymakers are at a “tipping point,” a Federal Reserve official said on Tuesday.

“If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. “The short-term negotiations are very important, I look at this as a tipping point.”

But he added he was confident in the Americans’ ability to take the right decisions and said the country would avoid insolvency.

“I think we are at the beginning of the process and it’s going to be very painful,” he added.

Fisher earlier said the US economic recovery is gathering momentum, adding that he personally was extremely vigilant on inflation pressures.

Hayden’s Note:

Take very careful note at just how this is all worded.  First, you have a Federal Reserve President saying that the nation could become insolvent soon and that whatever we do in the near-term will essentially define the next several years; the precipice of our monetary future.  It’s refreshing to hear someone say this from the Federal Reserve.  And that’s the point. 

Suddenly, we think, ”Hmm, this guy is being far more honest than the other bankers.  Maybe he’s on our side.  Maybe he’s fighting for us and the economy!”  He continues, rambling about a self-sustaining economy… which is pure fantasy when our debt starts exceeding the GDP.  How can a recovery sustain itself if money is flowing out, interest is climbing, job numbers are stagnant or declining and ”quantitative easing methods” continue to print more money?  Not to mention sustaining several theaters of war.  So, please, tell me how this is a self-sustaining economic recovery? 

He continues campaigning to Main Street about what a great guy he is and how he would change things.  He dares to even mention correcting the monetary issue by selling Treasurys.  Funny thing, if you know anything about the actual situation, is that no one is buying our Treasurys.  It’s a sick merry-go-round of QE, POMO, PDs and insider sell-offs.  Other than the Federal Reserve, China is the largest holder of American debt and treasurys [just over a trillion], followed by Japan [just under a trillion].  Japan is selling Treasurys for reconstruction capital and China has slowed on buying our debt.  Who, pray tell, will be purchasing our debt, Mr....

TruthisTreason.net – Kevin Hayden

Source: Zero Hedge

The United States Department of Justice delivered a very clear and unfortunate message on Friday:

“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism.  While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country.”

These remarks were released by the US Attorney’s office in the western district of North Carolina following the conviction of one Bernard von NotHaus, the creator of the ill-fated Liberty Dollar.

As you likely recall from a few years ago, Liberty Dollars were privately minted gold and silver rounds. Paper certificates, akin to warehouse receipts were also issued, effectively giving the bearer a right to claim a certain amount of gold or silver at the group’s warehouse in Coeur d’Alene, Idaho.

This is traditionally how the system of money used to function– precious metals would be stored in private, secure storage facilities, and paper certificates were issued as a medium of exchange that entitled the bearer to redeem metal from the vault.  Liberty Dollars represented a return to that system....

Source: Zero Hedge

There was a time when news, especially very bad news, moved stocks. The last time that occurred was in the middle of 2009, before most robots had any idea just how massive Bernanke’s schizoid break with reality was. Now, that the appropriate sociopathology is fully priced in, bad news tends to have an even more profound upside impact on stocks than good news, as it guarantees that the Zimbabwe stock market will be upon us far sooner than if the economy were to have to go through another inter-QE episode. Which is why the just released news out of US Bankruptcy Judge Robert Grossman of Central Islip, New York, that MERS lacks rights to transfer mortgages will likely send the entire S&P circuit breaker up.

From Bloomberg:

“Merscorp Inc., operator of the electronic-registration system that contains about half of all U.S. home mortgages, has no right to transfer the mortgages under its membership rules, a judge said…U.S. Bankruptcy Judge Robert E. Grossman in Central Islip, New York, in a decision he said he knew would have a “significant impact,” wrote that the membership rules of the company’s Mortgage Electronic Registration Systems, or MERS, don’t make it an agent of the banks that own the mortgages…”

“MERS’s theory that it can act as a ‘common agent’ for undisclosed principals is not supported by the law,” Grossman wrote in a Feb.

...

TruthisTreason.net – Kevin Hayden

Congressman Ron Paul warns Larry Kudlow on the economy. This is a ‘must watch’ video.  It is Ron Paul at his very best.

Interesting moments towards the last half include Ron Paul calling the Federal Reserve a cartel on national television, ousting Ben Bernanke, and laying down the true facts on economic theory and policy.  He also likens America’s near-future to that of the Soviet Union.

Hayden’s Note:

I would also like to address an email I received from a local reader.  In it, he urged me to post one of the recent newsletters from the Campaign for Liberty and Ron Paul.  While I am a staunch supporter and fan of Ron Paul and his ideals, I can’t bring myself to post the newsletter.  In it, they call for financial support of the Tea Party.  There are a lot of feelings regarding the current ‘Tea Party’ movement and Republicans, and my stance is that it has been co-opted by war mongers and neocons. 

But originally, it was founded FOR Ron Paul by the grassroots during his very first ‘Money Bomb,’ where supporters – myself, included – raised over $6 million dollars in one day for his Presidential campaign.  It was held on the anniversary of the original Boston Tea Party and was supported by Libertarians, Republicans, Democrats, Liberals, Conservatives and those who had never been interested in politics before.  I am a prime example of that last one.  Ron Paul changed my life and I would not be where I am today if I hadn’t been involved in the campaign....

Source: Activist Post

The head of the US Federal Reserve will take questions from the press Thursday, a step that experts say is just short of revolutionary for the normally reserved central bank.

Instead of delivering an ever-so-carefully manicured speech and then slipping off the dais to the echo of gentle applause, Chairman Ben Bernanke will, unusually, hang around for a few questions from the press before departing.

It’s a seemingly small step, but Bernanke knows any unscripted response he utters will be parsed, reported on and put to work by investors, with billions if not trillions of dollars at stake.

Hayden’s Note:

It would appear as if Bernanke’s handlers are attempting to get the public used to seeing the “softer side” of ‘ole Ben before he faces off against Rep. Ron Paul – now head of the House Financial Committee.  It’s like the Friday Night Fights when Bernanke and Paul face off.  Why I despise Ben Bernanke and am a strong supporter of Ron Paul, I must admit; Bernanke is a very intelligent man.  Classically schooled, he was considered a child prodigy.  But Ron Paul is also extremely savvy when it comes to finance, markets and how economies work.  And Ron Paul always wins these face-offs, anyway.  He is Liberty’s champion....

TruthisTreason.net

Source: Global Research

The Federal Reserve was set up by bankers for bankers, and it has served them well.  Out of the blue, it came up with $12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created. That same credit crisis has plunged state and local governments into insolvency, but the Fed has now delivered its ultimatum: there will be no “quantitative easing” for municipal governments. 

On January 7, according to the Wall Street Journal, Federal Reserve Chairman Ben Bernanke announced that the Fed had ruled out a central bank bailout of state and local governments.  “We have no expectation or intention to get involved in state and local finance,” he said in testimony before the Senate Budget Committee. The states “should not expect loans from the Fed.” 

So much for the proposal of President Barack Obama, reported in Reuters a year ago, to have the Fed buy municipal bonds to cut the heavy borrowing costs of cash-strapped cities and states. 

The credit woes of state and municipal governments are a direct result of Wall Street’s malfeasance....

Source: Zero Hedge - Mike Krieger

Another great post from the guys and gals at Zero Hedge. Bookmark them for economic news and analysis!

Thanks Ben…You Have Destroyed the Social Fabric of the World

History is littered with the carcasses of men that in their exaggerated hubris attempted to stop the forces of nature and the markets only to fall flat on their faces.  We tell the stories of these men in history books and myths from prehistory, but it never stops men of successive generations from trying it all over again.  What the current political class the world over (at the behest of Wall Street financial terrorists and other big corporate interests) are doing falls into the same exact formula of prior historical failures.   Some of the historical figures that attempted to beat back nature were great warriors or kings that just reached too far.  Some of them were evil megalomaniacs whose desire was nothing short of absolute power in their hands over any of the unfortunate human beings that happened to be in the way.  Ben Bernanke is neither of these.  He is a just a little dweeb with an electronic printing press.  Tragically, because of modern technology and the way the monetary system works today he has the ability to cause more damage than any other one person in the history of mankind and he is doing it.  I shudder to contemplate the ultimate effects of the inflationary holocaust he has unleashed on the six billion mesmerized and helpless souls present on earth at this time.  The signs are starting to show up again just like in early 2008.  Food is becoming scare at a “reasonable” price in many parts of the globe and the symptoms of this are starting to bubble up to the surface.  For example in recent days we have witnessed food riots in Algeria and Tunisia where at least 14 people are reported to have died in each country.         

These types of events were easily predictable and have been predicted by people like me and many other whose views will never be seen in the mainstream media.  Fortunately, the alternative media is taking over (which is why the Obama administration is certain to increase its crackdown on the internet) and people are becoming very informed and linked all over the world.  The divide and conquer strategy that has worked so well for millennia will be much harder to pull off this time around....

Source: YouTube

The American Dream – an Animated History Lesson
It should be noted that I don’t particularly agree with the opening 5 or 6 minutes of this video, but as it moves towards the 15 minute mark, it’s much better. The beginning tries to enforce the notion that home buyers and loan takers had no choice in the matter; that they have absolutely no fault in this mess. On the contrary – by taking a loan with an extremely high amount of interest, it is as much their fault as the bankers. I feel bad for them, but still… they had a choice and if they were a bit more savvy in understanding and admitting the reality of their own situation, they might not have signed on that dotted line.

I certainly wouldn’t buy a $50k car simply because they offered me a low, low interest rate and allowed me ten years to pay it off. By doing that, you simply pay enormous amounts of interest and very little principal. In 6 or 7 years, you have still not hardly touched the principal amount and if you need to sell or suddenly lose your job and can’t afford the payments, you are still liable for the loan… funny part is, after all of these years, you’ve simply been trying to pay off the interest of the loan and still owe far, far more than what your car or house is worth....

Source: Zero Hedge

Any time you bring the two Pauls together in an interview, and start discussing items such as the debt ceiling, government spending, and monetary policy you know the results will be good. Sure enough, in this rare ABC interview with father and son, the sparks fly, and among the topic touched is the most popular story on Zero Hedge.com from yesterday, namely President Obama fabulous hypocrisy, who after bashing the debt ceiling as a senator 4 years ago, has bet the outcome of his entire economic policy on maxing out every single credit card available to him. Paul’s response: “…we have to face the fact that we are bankrupt and we can’t pay our bills.”  Not exactly the kind of thing one wants to hear if one’s name is Hu Jintao. That said you know the Paul-led interrogation of Bernanke will be something else, even if it is ultimately totally fruitless.

Hayden’s Note:

I am a huge Ron Paul supporter and have been so for many, many years.  His son Rand Paul, however, has some very troubling Neocon Warhawk issues that simply don’t jive with the senior Paul’s ideology or my own.  Tread carefully if you support him and his typical war-mongering, Israeli-loving Republican mentality....

Source: Zero Hedge

It was the night before Christmas Eve, and CNBC trucked out TrimTabs’ Charles Biderman to a de minimis audience, knowing full well that a man with his understanding of money flows would very likely repeat his statement from last year, that there is no real, valid explanation for the inexorable move in stocks higher, as equity money flows in 2010 were decidedly negative, and any explanation of the upward melt up would need to account for Fed intervention (and no-volume HFT offer-lifting feedback loops but that is a story for another day).

A year after the first scandalous report was published, TrimTabs is sticking with its story: “If the money to boost stock prices by almost $9 trillion from the March 2009 lows did not come from the traditional players, it had to have come from somewhere else.  We believe that place is the Fed. By funneling trillions of dollars in cash to the primary dealers in exchange for debt, the Fed has given Wall Street lots of firepower to ramp up the prices of risk assets, including equities.”

And, wisely, Biderman, just like Zero Hedge, asks what happens when the buying one day, some day, ends: “…stock prices will be higher by the time QE2 ends, but economic growth will not be sustainable without massive government support.  Then even more QE will be needed, and stock prices could keep rising for a while.  In our opinion, however, no amount of QE will be able to keep the current stock market bubble from bursting eventually....

Source: Zero Hedge

Despite rumors that various splinter forces within the Republican party are attempting to block Ron Paul’s fateful chairmanship of the Monetary Policy Subcommittee, we now have confirmation that the only sane politician left will now be Ben Bernanke’s direct nemesis during any and all future Congressional spectacles starring the printing unchallenged one. And with US debt creeping ever closer to the debt ceiling, coupled with the dollar for dollar monetization of the US deficit, such spectacles will soon be plenty.

Fast forward to 3:30 in the clip for the announcement.

...

Source: MSNBC

California’s delay of a $10 billion municipal bond sale has only fueled existing chatter on trading floors that the Federal Reserve would take the extraordinary step of buying these securities just as it has with Treasuries. Chairman Ben Bernanke would pursue this unprecedented route, if he thought necessary, even after the vocal criticism he’s received for his second round of quantitative easing, they said.

“Given the recent bond offering by California appears to have been given the cold shoulder by the public, might they turn to the Fed?” asks Art Cashin, director of NYSE floor operations at UBS Financial Services, in his widely-read morning note to clients.

Cashin has often referred to a 2002 speech by Bernanke on deflation, where the Chairman hints at buying all kinds of securities as a playbook for the current crisis.

“The Fed has the authority to buy foreign government debt, as well as domestic government debt,” said then-Governor Bernanke, to the National Economists Club in Washington D.C.

“Because some of these alternative policy tools are relatively less familiar, they may raise practical problems of implementation and of calibration of their likely economic effects,” he added....

Source: CNN Money

Ben Bernanke has had his hands full since his first day on the job as Federal Reserve chairman nearly five years ago. It’s about to get even tougher.

His harshest critic on Capitol Hill, Rep. Ron Paul of Texas, is about to become one of his overseers.

With the Republicans coming to power, Paul, who would like to abolish the Fed and the nation’s current monetary system, will become the chairman of the House Subcommittee on Domestic Monetary Policy.

If you’ve never heard of the committee before, you’re not alone. But Paul promises you’ll be hearing a lot more from it.

“It’s basically been a committee that’s dealt with commemorative coins. I’m going to deal with monetary policy,” he said.

Paul doesn’t think he’ll be able to move his proposal to eliminate the Fed, or to allow Americans to use gold instead of paper money as currency. But he said he does intend to use his new position as “a mini-bully pulpit” to criticize Fed policy and call more attention to what he sees as its negative consequences....

Kevin Hayden

TruthisTreason.net

China says G20 should monitor US Fed

China’s state media has issued a new broadside at the US Federal Reserve’s move to prime the US economy, suggesting the Group of 20 should monitor policy shifts by the US central bank.

The Xinhua news agency said in a commentary the Fed was “risking the global recovery by following its own track for economic revival” by spending an extra $US600 billion ($A593.65 billion) buying Treasury bonds to stimulate the US economy.

“There is an urgent need for the G20 … to set up a new mechanism that effectively monitors the issuer of the international reserve currency, especially when it is not able to carry out responsible currency policies,” Xinhua said.

“It is necessary for the issuer of the international reserve currency to report to and communicate with the G20 group before it makes major policy shifts.”

Hayden’s Note:

So now China is demanding the Federal Reserve confer and seek approval with the G20 – a global governing body – before making financial decisions, good or bad.  Hmmm, maybe this is what was planned all along.  As conspiratorial as that sounds, I can find no other earthly reason that Ben Bernanke, a man of such genius (although I despise him, credit is given where it’s due), could possibly think quantitative easing is good for the economy in our present situation....