Feed: Fed’s Bernanke should be criminally charged, says watchdog - AggScore: 12.7

Fed’s Bernanke should be criminally charged, says watchdog

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blockquoteemToday, the entire Western financial world holds its breath every time the Fed chairman Ben Bernankespeaks, so influential are the central banks decisions on markets, interest rates and the economy in general. Yet the Fed, supposedly created to smooth out business cycles and prevent disruptive economic downswings like the Great Depression, has actually done the opposite.em Glenn Beckblockquotecaption id alignalignleft width210 captionThere are those who believe Bernanke activities are criminal in nature. Photo USA Todayimg srchttpcdn2b.examiner.comsitesdefaultfilesstyleslargehashba4bbernanke.jpg alt There are those who believe Bernanke activities are criminal in nature. Photo USA Today width210 height170 captiondd ddWhile there is an abundant amount of news coverage regarding the activities of Wikileaks Julian Assange, with government, military, intelligence and law enforcement officials calling for his punishment for publishing classified documents, if there is one American who deserves to be charged with treason, it is Federal Reserve Chairman Ben Bernanke, according to Gerard Adams of the National Inflation Association.Adams states that Bernanke, this past Sunday on 60 Minutes, outright lied to the American public when he said that the Federal Reserve isnt printing money.Less than two years earlier on the same television program, Bernanke admitted that the Federal Reserve is printing money. However, back then, nobody was questioning the Federal Reserves actions.Thanks to alternative media organizations that have worked tirelessly to help expose the Federal Reserves dangerous and destructive actions, Americans are starting to finally question the Federal Reserve and Bernanke is now clearly on the defensive, said Adams.Bernankes lie on 60 Minutes that the Federal Reserve isnt printing money is similar to the lie he made under oath on June 3, 2009, when he testified in front of Congress saying, The Federal Reserve will not monetize the debt.Today, the Federal Reserve is monetizing the debt as admitted by both the Kansas City and Dallas Fed Presidents. When Bernanke uses the term quantitative easing, he is insulting the intelligence of Americans. Quantitative easing is nothing more than printing money, claims Adams.Bernanke said in his interview that the purpose of the Federal Reserves emquantitative easingem my emphasisis to keep interest rates low, but the yield on 10year U.S. treasuries rose to a new six month high on Thursday, December 9.The truth is, emquantitative easingem is causing interest rates to rise because all of the money being printed is about to cause an outbreak of massive price inflation. The yield on the 10year bond has risen by 38 points during the past three days alone and is now up to 3.26. NIA continues to believe that interest rates have seen their lows and yields on the 10year bond will likely rise above 4 in the first half of 2011, said Adams.When the 10year bond yield rises to above 4, instead of Bernanke admitting that he lied to the American public and his money printing actually caused interest rates to rise, Bernanke will likely claim that his quantitative easing just wasnt large enough. Bernanke will use rising interest rates as an excuse to expand the size of QE2 andor possibly launch QE3. Remember, every 1 rise in interest rates means an extra 100 billion that will need to be spent each year on interest payments on our national debt. Rising interest payments on our national debt can only be paid by Bernanke printing even more money, according to anNIA analysis.Bernanke promises that he wont let price inflation in the U.S. rise above 2, but all Americans who live in the real world realize that price inflation is already well above 2. Whether it be food, gas, heat, clothes, healthcare, college tuition, entertainment, or just about anything else, prices have risen over the past twelve months for just about all goods and services in America by a lot more than 2.How is Bernanke, the Fed and Obamas economic team covering up this increased inflation Theyve removed food, energy andgasoline from the list of items indexed ingovernment analyses of inflation, said political strategist Mike Baker.Bernanke and Obama tell Americans theres no inflation, but ask anyone who shops for food at the supermarket or paysthe homeheatingbills,Baker said.It is a real shame that absolutely nobody in the mainstream media has acknowledged this fact and called Bernanke out on it. Bernanke deserves to be impeached for his previous acts of perjury and for blatantly ignoring the price inflation that exists all around us.Unfortunately, the news media are either ignorant of this government scam or it is beyond their understanding. Either way, Americans are being kept in the dark except for a few financial reporters and commentators, adds Baker.Bernanke is currently leading a misinformation campaign that will prevent the majority of Americans from preparing for and surviving U.S. hyperinflation. Bernankes misinformation campaign is similar to what took place in Weimar Germany in the 1920s when they experienced hyperinflation. In Weimar Germany, the misinformed public always focused on rising prices, but never understood that prices were rising because the German mark was losing its purchasing power, NIAs Adams said Thursday.The Germans believed that there was a shortage of marks and it was therefore necessary to print as many marks as possible. Germans placed all of the blame for their crisis on the symptoms of inflation. They blamed greedy tourists, selfish industrialists and profiteers, the wage demands of laborers, speculators in Germany who were buying foreign currencies and sending their wealth out of the country, and other nations that were buying up German assets with foreign currencies. They failed to grasp that it was their governments own printing of marks and increasing the money supply that caused the inflationary disease.Bernanke is trying to convince the world that he can create an economic recovery through quantitative easing printing money, without creating price inflation, because he claims to have the tools to unwind the Federal Reserves massive asset purchases. He is trying to trick the world into believing that he has the ability to pinpoint an exact time in which the U.S. economy is recovering without massive price inflation, where he can exit his inflationary strategy before prices start to dramatically rise. Bernanke has no exit strategy that he can implement without sending the U.S. economy into the next Great Depression, Adams warned.Bernanke, being a selfproclaimed scholar of the Great Depression, is not going to allow another one to occur. Bernanke didnt like the markets reaction when he allowed Lehman Brothers to fail the only right decision he made during the whole panic of 2008. After the failure of Lehman Brothers caused the stock market to crash, Bernanke didnt allow another major U.S. bank to fail.NIA predicts that we will one day see Bernanke attempt to launch his exit strategy by raising the Federal Funds Rate, but as soon as the stock market begins to go south like in late2008, Bernanke will reverse his decision and either lower the Federal Funds Rate again or leave it at artificially low levels until the U.S. dollar loses all of its purchasing power, said Adams.One organization out there that has perhaps played the largest role in helping expose the Federal Reserves manipulation of gold and silver prices is the Gold AntiTrust Action Committee GATA. NIA considers GATAs President Bill Murphy to be a hero for having the courage to expose evidence of gold and silver price manipulation at the CFTC hearing on position limits that was held on March 25th of this year.