Ron Paul Gives Fed's Ben Bernanke a Schooling

Thank you, Ron Paul, for simply speaking the truth:

Thank you to 1sageee for uploading this to Youtube. More details from CSPAN

A friend just emailed me with this news: "CNBC's Rick Santelli reporting a roar of "Ron Paul!" chants in the trading pits of Chicago as Paul blasts Bernanke about the dollar...."

Full video - Parts I & II on CNBC - look on the right hand side for video links (thank you to takeaction for the tip)



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Bernanke is the fall guy - I hope they pay him well -

Anybody who sits on a board knows that a chairperson is really irrelevant in the grander schemes of an organization's strategy. Their role is usally to remain impartial on issues unless the board is deadlocked. The real people that are responsible are the Federal Reserve Board Members, who have no oversight.
I am surprised that this issue is seldom brought up when criticizing the Fed.

Bernanke

Maybe you should go on down the street to a more intelligent neighbor and quit wasting your time on this guy...

Ron Paul for President 2008

YouTube Video of Rick Santelli mentioning Ron Paul

Here is the CNBC video of Rick Santelli reporting on the Chicago traders cheering for Ron Paul as he tears into Bernanke:

http://www.youtube.com/watch?v=z8GtXKP6bmQ

I'm glad he's getting the love he deserves for this

Think how many years he's been in Congress doing the exact same thing and mostly it was loyal Texans loving him for this kind of thing. I'm sure he really got the cold shoulder on a daily, er, hourly basis from his fellow Congressmen.

Defend Liberty!

Political Points

Ron used this opportunity to score some political points and he has earned the right to. He as been delivering this same message for 4 decades and he wouldn't have said anything different if he wasn't running for president. On the facts Ron Paul was right on everything he said. You have to feel a little empathy for Bernanke because he is part of a system that is majorly flawed, but he deserves this kind of treatment as head of the Fed. Definitely a David Lee Roth Jump Kick.

you betcha!

boy o boy has dr. paul ever earned the right score some political points.

and of course, he is the ONLY candidate who has earned the right to be president of these united states!

blessings,
sunny

Ron Paul is My President

Ben Bernanke Inflation

Today I asked a neighbor to sign a petition to get Ron Paul on the ballot in Virginia. His answer was no. He had just watched Ron Paul and Ben Bernanke on T.V. and felt that Ron Paul was using his time to stump for President. My neighbor said, "Ron Paul doesn't know anything about economics." This shows me that there are alot of people who just do not understand what Ron Paul was explaining about how the Fed creates inflation. The public needs to be educated. I'm not sure how to get this message across in a simple way that everyone would understand. Any ideas?

He probably wasn't listening

He probably was just assuming Dr. Paul was stumping and not really listening and got steamed that he would do that to an "expert." I've seen some Congress members just take the opportunity of questioning someone to insult them just to be noticed by the folks back home. I does upset me and I can see how it would be easy to be quick to lump a presidential candidate in with that kind of behavior, not knowing Dr. Paul has been doing it forever. I think explaining that Ron Paul is well known as an expert economist would be appropriate.

Defend Liberty!

Ron Paul is an Economist

Perhaps you could kindly steer your unbelieving neighbor to the body of economic works Ron Paul has penned or to the many video segments where he went up against Greenspan and the Fed Res prior to his Presidential run.

I have a feeling though that RPs wisdom will resonate with those who have any realistic understanding of the market. Surely the naysayers will be turned around when the catastrophe cannot be ignored anymore.

Fed not Federal

I would remind people of what Paul is reserved (no pun intended) about going into, that the Fed is a system of private banks. When the Fed creates money out of thin air, they don't just do it in the hopes of maintaining stability, they sell it to the government and other banks at interest, increasing debt while enriching it's owners. It's the ultimate scam and Ron Paul knows it, yet he also smart enough to know how much of this sort of information people are able to process, and how far he can push Bernanke. I am always impressed with Paul's sense about these things, and the expert way he stays focused on the important issues that have real meaning to the American people.

Dont stop, just keep going

"The budget should be balanced, the treasury refilled, public debt reduced, the arrogance of officialdom tempered and controlled, and the assistance to foreign lands curtailed, lest Rome become bankrupt."
-Cicero 63 BC

Tim
In the MILITARY? Join my Meet-Up group
http://ronpaul.meetup.com/1040/

People vs. Pundits

On the CNBC vid: it's the same ol' establishment schtick of the arrogant pundit trying to assert he knows more about what's going on than the traders. Typical, typical, typical. As if the traders don't know what they're doing? Please, who buys this crap anymore? People are free, sovereign, and can think independently. The ones in the trenches (pit) obviously know more than some bureaucrat (pundit) behind a desk.

On Bernanke: He says he's just following the mandate given to him by Congress. That's like a brain surgeon taking directions from a lawyer.

Support the Read the Bills Act and more at DownsizeDC.org
http://downsizedc.org

Support the Read the Bills Act and more at DownsizeDC.org
http://downsizedc.org

The CPI is a joke

Healthcare and insurance costs are a major part of my cost of living. These cost are skyrocketing for most of us. The CPI doesn't properly reflect this.The current measure of inflation is a joke.

The Fed is a fraudulent organization whose sole purpose is to make profits for the big banks.

CPI

A pretty good proof of how you Americans get fooled by your politicians is to compare the pre-Clinton CPI and the one you have now.
Just doing some math, they changed it from around 7,5% to 2,5%.

(perhaps I find a link)

--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)

--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)

'We'll ride our ships to new lands....da da da dha da.."

Ron Paul is, Jefferson with "Zepplin" playing in the background. Ron Paul, just pulled a 'David Lee Roth' jump kick in front of Bernanke and the crew . He is so far ahead of these guys...they're lost in the stage smoke, lights, and lazers.

We need a band and some groupies to follow our guy around, for now on!

Ron Paul just opened another can of whoop a$$ on Bernanke.

Bernanke and these other congressmen should have to pay for their next lesson.

Let's remember to donate on This November 11th and Throw Ron Paul the world's largest donating concert on December 16th, to give this man the proper resepect he deserves!

Ron Paul our Next President!
Michigan Patriot

Michigan Patriot

Seriously.....

How GOOD is this clip? Does ANY other candidate understand any of this?
Why would you not want the smartest/most educated candidate in the highest office of the land. Wow, I could watch this whipping over and over and over.....

Ron Paul, Educating America

Great job!

Thanks Mike for getting these video's up. It's amazing that the Traders relate to Ron Paul but not the analysts! It reminds me of the American people relating to Ron Paul but not the government. :)

analysts dont need a license

Brokers do

Ok, I have uploaded the CNBC follow-up to Rapidshare

For all of you having trouble with the browser, you can download the clip (CNBC FedTaskForce.wmv 28.5MB) here:
http://rapidshare.com/files/68412958/CNBC_FedTaskForce.wmv

If you don't have an account just choose the free option and wait 60 seconds

"OK Shaggy, you and Scoob check out the cave, me and the girls will stay here in the cabin"
~ Fred

No worries...

The video is posted on YouTube and can be found at Lew Rockwell's blog as linked below. Thanks though.

- kipload
idealogs.blogspot.com

Alright

Though the video at lewrockwell.com is of very poor quality: either a screen recording or a compressed format. I ripped the original video as is (FedTaskForce.wmv 28.5MB).

"OK Shaggy, you and Scoob check out the cave, me and the girls will stay here in the cabin"
~ Fred

Rick Santelli

Any idea how I can confirm that "CNBC's Rick Santelli reporting a roar of "Ron Paul!" chants in the trading pits of Chicago as Paul blasts Bernanke about the dollar"?

This is important. It is a leading indicator that confidence in the greenback is eroding faster than a dam bursting... A video of this statement, Rick Santelli's e-mail address, the time when this was broadcasted - anything would help.

Thx.

yeah its the third video

yeah its the third video down on the same page that has the 2 videos of bernanke speaking to the congress,
Right hand side

"The strongest reason for people to retain the right to keep (own) and bear (carry) arms is ,as a last resort ,to protect themselves against tyranny in government"
-Thomas Jefferson

Ron Paul, Re-Educating

Ron Paul, Re-Educating America seems fitting. :)

Bernanke is a tool.

That is all.

Here... Everyone watch this follow-up

I don't know how to rip the video so it can be posted on YouTube put here is the URL. Simply go to "File", "Open URL" in your media player and paste in the following address. This is too important to not watch. If you know how to rip this into a YouTube video please do so.

http://release.theplatform.com/content.select?pid=hBoaHyT-Fl...

(I just realized you can simply click on it and Media Player will automatically open it.)

- kipload
idealogs.blogspot.com

CNBC follow-up video ripped

kipload,

If you want to have this clip (CNBC FedTaskForce.wmv 28.5MB) just let me know, I haven't uploaded it to Youtube because of Copyright issues.

"OK Shaggy, you and Scoob check out the cave, me and the girls will stay here in the cabin"
~ Fred

Thanks for this video

Wow. I can't believe how some people don't get it. And I am outraged that Bernanke basically states that his job is to look out for the banks and he doesn't understand how people didn't get the risk of SIVs. Well, that is so reassuring. But he does tell the truth. All they care about is the bankers and not the poor people who don't understand finance and got duped by these bankers.
Ron Paul is starting to get some press on how he is making sense. Who is that Brian guy who doesn't seem to get it?
Healthnuttie for Ron Paul

Healthnut4freedom

The lip of truth shall be established forever: but a lying tongue is but for a moment...Lying lips are abomination to the LORD: but they that deal truly are His delight. Prov 12:19,22

Can anobody download that video from CNBC site?

Because not everyone has now enough good internet connection..

Can anobody download that video from CNBC site?

Because not everyone has now enough good internet connection..

Please! I'm begging ya post a link to the report of cheering in

the trading pits!

Hestia

The only one is on the bottom

Click on the CNBC link above then scroll down to the right side with the 4 people in the video box. This is the only referance to it. People going crazy in the pits!! Don't click on part 1 or 2 it is the one down off the page on the right! It does not show the cheering...just refers to it!

Today may be one of your last chances....

I know all of you are not Economic Guru's and I do not claim to be myself, but what is happening right now in the stock market, may be a last oppurtunity to get into Gold or Silver. I have been researching the economy for years, and Gold and Silver is one of the only hedges to preserve your wealth. Ron Paul understands this, more then any other person on the hill....besides the crooks at the Fed.

The markets are coming down, and what seems to be happening TODAY, is that Gold and Silver have backed down a little because people are trying to cover thier losses buy selling thier Gold and Silver on the open market which takes the price down. This is only temporary. With the inevitable crash of the dollar, and all of the economic factors (All Negative), there is only one way Silver and Gold can go...and that is through the roof.

What people really need to understand, is that gold, and silver do not make you money. When I bought Gold at $600 an ounce, and today it is $822. I did not make $222 dollars per ounce. The dollar has fallen that much, and I have only maintained my buying power. Now, silver is even a better play in my opinion because it has so much more upside. Many people say that silver is too bulky. Well right now at
http://www.apmex.com/Category/160/2007__Prior_Uncirculated_S...
you can buy a Silver Eagle coin for about $17. These coins will not seem so bulky when they hit $50, $100, or more. Again....remember...if you buy a coin today for $17, and it goes up to $50, you have not made $33 per coin, you have maintained your buying power. I am just trying to help people here. GET OUT OF YOUR US DOLLAR ASSETS NOW.

Now on the other hand.....if you feel that the economy is going to turn around, and the dollar is going to gain worldwide strength, then Gold and Silver will go down. Hmmmm???

Here is a great article that explains a little more.

http://moneyandmarkets.com/Issues.aspx?NewsletterEntryId=1167

Just trying to give you a heads up. The dollar has fallen 13% this year!
Do some heavy research...ad decide for yourself...

The reason why I said this is one of the last chances is that silver and gold took a dip down today.....I am buying.

What are going to do when

What are going to do when the Fed pressures the president and congress to rake in all the gold that is in the hands of the people like they did in 1933?...that act has never been repealed.

That act doesn't cover platinum, palladium or numismatic coins, though.

I don't really know the

I don't really know the history on how this happened in the past, but how are they going to know who has gold and silver and how are they going to make them sell it too the government?

I may be mistaken, but when

I may be mistaken, but when one buys gold bullion isn't ones social security number required? I know for a fact that it is not required when buying numismatic coins, though.

S S #

no it is not.

blessings,
sunny

Ron Paul is My President

NO WAY!!

Buying gold does not require a SS # If that happens when you try and buy some...Buy someplace else.

Ebay 1 oz American Eagle

Here is how they did it!!

http://www.the-privateer.com/1933-gold-confiscation.html

They made you turn it in!! In trade for EQUAL VALUE in Federal RESERVE Notes!!! HHAHAAHAHAHAHA Equal value, isn't that a joke!

Section 4. Upon receipt of gold coin, gold bullion, or gold certificates delivered to it in accordance with Section 2 or 3, the Federal reserve bank or member bank will pay thereof an equivalent amount of any other form of coin or currency coined or issued under the laws of the Unites States.

LOL

Well...I guarantee they won't be coming after your dollars, because we will all be burning them just to stay warm!!

Bernanke...

...said it would increase the money aggregate (former M3) when people sell "risky assetts" (i.e. stocks) and thus generate cash, which increases the money supply (in his terms). I think this is wrong. It is a swap.
A has stocks, B has cash (M1 actually).
A sells stocks to B for cash.
A has cash, B has stocks.
The money supply does not necessarily change.

Is this correct?

--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)

--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)

Not really

They were talking about MZM agregate, not M3. M3 is not officialy reported any longer.
MZM shows some class of the deposits in the banks. Helicopter Ben was saying that increase in MZM is not indicative of higher supply of money, but rather inflow of money from the liquidation of other assets, like stocks in your example.
When the stocks are hold in the brokerage account they are not appearing in MZM, but when they are sold and the money is deposited in the bank they are included in MZM. (that was Bernanke's argument).

MZM

I know that (just did not understand "MZM" when he said it, but it is a similar concept).
The point I wanted to make: the liquidation of assets must be paid by another party. If that other party had cash (MZM), it is just a swap.

--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)

--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)

You got a point here. It

You got a point here.
It shows how weak Ben's argument has been.

I don't think so....

The problem is that the assets these companies are holding (The way I understand it) like Citigroup, Washington Mutual, etc were sold these assets at a certain price... These assets were rated very high when put out on the market. These assets were filled with all kinds of "Hidden Secrets" like tons of ARM loans, and sub-prime loans. These big financial companies bought the assets at the rated price. Now, the hidden secrets within these assets are coming to the surface.

So lets say you were told....I have a great deal. I will sell you an asset that will make you tons of money for $100. You take me on my word. You start waiting to make money on the asset, and not only do you not make money, but the asset can not be sold to anyone now "Sub Prime Mess". So the asset you bought from me not only is NOT generating any income, it has decresed in value by 50% or more....what do you do? You start writing off all of these billions of dollars in losses a little at a time so your stock does not crumble. The investors are not to happy that you bought this for $100 from me multiplied by billions of times. Now...again, this is how I understand it. So what I sold you for $100 can't even be sold again at a discount!
The money on these assets has EVAPORATED. They were never worth the purchase price. All of these banks were supposed to have Billions and Billions of paper assets at there disposal, now those assets have evaporated, or they are not worth anything close to the original price. So all of the banks and financial institutions have ZERO liquidity. If they need cash to make loans, they have nowhere to get it from. This is where the Fed is making a BIG MISTAKE. On Friday, the Fed put 41Billion dollars again into these banks as a temporary loan to allow them to conduct business. That was just on Friday? Where did this money come from? They printed it. They have pumped over $500 Billion into the system in this same way over the past couple of months. THis is just the start. This crisis may require over $1 Trillion to save these companies. These are suposed loans by the way. So an extra Trillion in cash pumped in out of thin air.....Guess What that does to the dollar.

This is how I understand it....If anybody wants to correct me, or add to this...please do!! Thanks