6 votes

My Friend Is At A Luncheon With Bernake Right Now!

There is a Q&A session at the end. She needs questions. Please help.

(Her bosses are all there so try to make it a question other than: Why don't you jump off a cliff? Thanks.)

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As long as she is not at breakfast with him

She should be ok.

Breakfast with Bernanke kills campaigns.

So what happened?


She was going to ask about

She was going to ask about the Russia-China agreement, but questions were prescreened and they "ran out of time."

Speaker of the House: The gentleman's time has expired.

Gentleman from Missouri: But wait. Uncle Ben, do you or do you not print money?

Speaker: [Pound gavel] Will the gentleman find his seat in the chamber... Sargent!

Missouri: Ben, is it true that you just print money out-of-thin-air?

Speaker: The gentleman is out of order! [Pound gavel] Sargent!

[Cut audio. Fade video to black.]

Sponsor: Does your country need a loan? Have you asked what your country can do for you? ....

[Sargent at Arms escorts Missouri gentleman from the House Chamber. Walk stoically down the long hall toward the Capitol Steps.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

How does leveraging failed assets to buy failed assets help?

Sounds rather shady to me.

Free includes debt-free!

What are duel mandate penalties? And should duels be legal?

Follow-up: What does the duel... Alexander Hamilton, Retired Treasurer vs Aaron Burr, Active Vice President tell us about Wall Street banking history?

Hint: New York banker Mortal enemies to Hamilton's dying breath from Burr's dueling pistol. Dueling was legal in New Jersey when the duel took place. "legal tender" was at play.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Fractional reserve lending

Ask him this:

If a bank lends out more money than it has on hand (through fractional reserve lending) how come it can demand compensation from those non-existing assets should the customer fail to repay the loan?

Good one

This is a good one, also:

How does the bank generate the cash to lend out more than it has on hand? Where does that money ultimately come from?

I'd also like, "where do you house records we can view for how many actual dollars are created each year? Is this number tracked and if so where?"

Eric Hoffer

Over the decades, I poke around the Saint Louis Fed archives.

Seems the folk at the Saint Louis Fed have divulged the most shocking evidence.

Welcome to the CredAbility Consumer Distress Index page. The index is a quarterly measure that tracks shifts in the financial condition of the average American household.

[CredAbility Consumer Distress is a service provided by the Federal Reserve Bank: Loaning you blind, since 1913.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Re the Consumer Distress Index by State

My, how well this chart reflects my state (by which I mean, my state), in the "Weakening - At Risk" category. Actually, my metro area is even lower on the scale, on a par with the (pathetic) U.S. average, nearing "Distressed - Unstable." https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTCqZA5...

This is off topic, or maybe not, but I wonder if it means anything that this is the second time within a week where I've found it appropriate to write the phrase
"(pathetic) U.S. average." That other time regarded a post re education: in my state, a full 6.3% of students perform at the advanced level in math proficiency, close to the (pathetic) U.S. average of 6.0%. Perhaps you're in a better state than I am at the moment; if you're curious, here's the chart. It ranks American states along with countries, creatively shown with the height of a sharpened pencil to represent scores. The U.S. is a mere stub. http://www.theatlantic.com/national/archive/2010/11/your-chi...

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

Art of deception.

It takes practice.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Ask the Ben Bernank

What he thinks the price of gold will be by the end of the year, and what that means for the economy.


The dual mandate of the Federal Reserve states that its goal is to foster full employment and stable prices. However, the United States has seen over 43 straight months of unemployment over 8%, and a dollar that has lost over 95% of its value since the creation of the Federal Reserve. In light of these facts, how do you respond to critics who claim that the Fed is either ineffective, injurious, or irrelevant?

Tu ne cede malis sed contra audentior ito

What are the penalities for failing duel mandates?

Same as the penalty for losing one duel?
Harvey Logan: Guns or knifes?

Butch Cassidy: Neither.

Harvey Logan: Pick!

Butch Cassidy: No, no, not yet. Not until me and Harvey get the rules straightened out.

Harvey Logan: Rules? In a knife fight? No rules! ...

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

How is the Fed independent

How is the Fed independent when they are owned by other commercial banks?

My parents had $100,000

in their retiree savings account 20 years ago. The account still shows $100,000 but they can now only purchase 40% of what they could have purchased back then.

When are they going to receive their check of $60,000 from the Federal Reserve to compensate them for their loss?

Ask him what the effect of

the recent change in the dollar being the world reserve currency as the petrodollar,may cause. On September 6th China and Russia made a deal to buy and sell oil for yuans. The media is not reporting on this, because it will have huge implications for the value of our currency!!!!!!

Heres the story


This is perhaps the most important question she could ask him, trust me, they are trying to cover this up.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

That was the question I

That was the question I suggested actually. Thanks.

come on people

come on people

What Evidence

What evidence do you have that Quantitative Easing is beneficial for the average citizen of the USA?

The announced "QE3" proposes to fund the purchase of Mortgage-Backed Securities at prices that would not otherwise be found in a free market. Since the recipients of this "easing" can then go out and purchase more real goods on the basis of the higher prices of their MBS, doesn't that give them a leg up at the expense of everybody else?

If it were true that "QE" by purchases of dubious assets from banks will help the United States economy, shouldn't it be at least as true and far more equitable for the Fed to purchase goods from all sectors of the economy (e.g. automotive, housing, chemicals, etc.) with the same money, thereby directly boosting sales? If you would agree with most mainstream economists that the latter would have very bad effects on our economy, why exactly is it that we should not also expect the former QE policy, which you are presently engaging in, to also have very bad effects on our economy?

watching on CNBC - he seems VERY NERVOUS


"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix