Bernanke defends low rates in House hearing

Rick Szymanski
February 28, 201 One must remember that the purpose of a Central Bank is of a dual mandate 1) To create money out of thin air that is not backed by anything but promises and deceit for the Government`s deficit spending and 2) To loan this created money to the Banking cartel at very low interest rates who in turn lend it out to the private and public sector at a higher rate.

Rick Szymanski
February 28, 201 Asked if low rates were punishing seniors, Bernanke said that raising rates prematurely would only hurt the economy. The question was, If low rates were punishing seniors ? Notice he never answered the question but side stepped it with a none relative answer. This shows that this hearing is nothing but a smoke and mirrors show put on to bamboozle the public of it`s importance. One must understand that the government and central bank are in collusion and do NOT operate independently as propagated to the uneducated and uninformed. All that transpires in governments and central banks is not by accident but by design and plan. They are one monster having two heads. It is a design to enrich the few elite to the cost of the majority. It is time to bring an honest monetary and financial system devoid of chicanery and half truths by the U.S. government and it`s other half, the Federal Reserve Bank, that is neither Federal, but a private corporation, nor dose it have any real asset reserves.

1Jim Becker
Floyd R. Turbot
February 28, 201 Raising interest rates would bring back the depths of the recession in short order. I wonder why anyone would advocate for that?

James Edwards
February 28, 201 Low interest rates are not helping my savings.

1Rick Szymanski
Jim Becker
February 28, 201 Low interest rates, easy credit, expand lending just like 1926-1929... except we already had part of that post rally story. Will not end well regardless of exactly how it plays out. Bernanke can`t believe anything he says if he at all studied history.

1Rick Szymanski
Floyd R. Turbot
February 28, 201 @Jim Becker Your analogy to 1926-1929 is totally without foundation. Citing that time period in comparison to today reveals that you really know nothing about economic history. I`d refrain from commenting on such matters until you have a better background in cliometrics.

Rick Szymanski
February 28, 201 @Floyd R. Turbot @Jim Becker Floyd, Jim is correct. Between 1920 and 1929, there were three distinct business cycles with several minor ones within them. For the average American, it was confusing and destructive. For the investor, it was a roller-coaster ride to oblivion.

Jim Becker
February 28, 201 see "the failure of the Federal Reserve" by H. Parker Willis May 1929 Floyd. p. 553 of The North American Review. Since you are named after a Johnny Carson skit who should be taken seriously here?

Sam Waters
February 28, 201 CPI is ready to explode higher. Benny and the Jets will have hell to pay very soon. The CPI actually has gas prices falling in the last 3 months, .. -6.0 -1.9 -3.0 . LOL! I look for the inflation and real income crisis to step forward and trap door Benny.

Floyd R. Turbot
February 28, 201 @Sam Waters I don`t think anything is going to explode. In fact I`ve been hearing about this imminent "explosion" since March of 2008. Still no bang. As for your gasoline exploding CPI end of the world scenario, please take a look at August and September-the last such gas run-up-and you`ll see the stratospheric levels that the CPI reached. About 3.5% a year if the increases held, but they didn`t so 1.6% for the year, should be about 2.0% for 2013.

Floyd R. Turbot
February 28, 201 I`ll paraphrase the Senator too. . . raise interest rates, now, now, now, because? poor seniors. Bring on the 10% mortgage, the 15% auto loans, nothing can hold the economy back when unsecured personal loans will go at 21%. Poor seniors, how pathetic to trot out the elderly to support their goal of giving another huge windfall to the ultra-wealthy and the banks who, it turns out, hold most of the sovereign debt.

Thomas Rose
February 28, 201 The Fed`s QE program is like building a tower on no foundation. Sooner or later, gravity wins and the tower comes tumbling down.

loboloco loco
February 28, 201 so does the stock market lol

jim davis
February 28, 201 I`ll paraphrase also Senator. Zero interest rates are stupid, promote reckless risk and speculation at all levels. A crash has always followed this reckless policy.

1Scobby Duby
Scobby Duby
February 28, 201 Sounds like correct reasons why the stock market should be doing so so well.. Ridiculous, but don`t fight the Fed.

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Bernanke defends low rates in House hearing

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