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Fed Chairman Bernanke On The Economy

December 5, 2010 2:31 PM

Fed Chairman Ben Bernanke discusses pressing economic issues, including unemployment, the deficit and the Fed's controversial $600 billion U.S. Treasury Bill purchase. Scott Pelley reports.

Fed Chairman Ben Bernanke's Take On The Economy
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by MzVictoria January 10, 2012 11:07 PM EST
I am so proud of the many intellegent responses to an otherwise
da da ca ca system that the powers that be are spoon-feeding us.
It is amazing how dumbed-down the American population has become;
it is refreshing to see many good comments on the current state of
affairs. Keep it up, my friends!
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by Aaron_Goldstein January 25, 2011 11:05 AM EST
Dear Americans! Did you know that your whole US-Media provides information for you, but selected information? You do not know, for example, that under Allied occupation law, books in Germany are still censored. Wait a minute- isnt that what the Allies fought for, free speech, liberty and democracy? So why does America still censore a whole list of books, publications and films in Germany, many of them written by Americans and Jews, by the way?

Why is this important for you? In a lot of ways. there is a book called "SECRETS OF THE FEDERAL RESERVE", written by american author Eustace Mullins. This book was BURNED by in the 1950ies by a judge named ISRAEL KATZ and the American occupation government did not interfere but approved of this book burning (a method, usually used by the Nazis, and funnily enough done by the Americans this time). So what is it the American governmebnt tries to hide from the Germans, to ban this book? NOTE: It is still banned in Germany today, and note, Germany is still ruled by law that had been created by the Allies.

Thanks to to the internet, i had a look into this book. This book was banned on the grounds of being "ANTI SEMITE". I browsed through the whole book, and not a single time did i find the word "JEW" or "JEWISH", so my question is: How can it be "anti-semite" or "anti-jewish", when the word "semite" or "jew" does not even appear in this book?

What i found instead, was an endless list of amounts of money and shady people like "ROTHSCHILD", "ROCKEFELLER" and many British "LORDS", shifting money about. I recommend you Americans start finding out, why this book is BANNED in Germany, and why the official grounds were "ANTI SEMITISM" when this is proven not to be true. Also note that Eustace Mullins wrote the book "SECRETS OF THE FEDERAL RESERVE" using the American Library of Congress. Is this an "anti-semite" source? I do not think so.

According to the AMERICAN CONSTITUTION, only the president or his treasury (Finance minister) is allowed to issue money. Which makes the FEDERAL RESERVE an illegal institution according to the AMERICAN CONSTITUTION.

Wake up, America! How much longer do you want to sleep?!
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by daxwax January 9, 2011 7:37 PM EST
What's the difference.. If your college or high school educated?
If you're unemployed..you're UNEMPLOYED...!
Open up the FED Reserves books all the way.
Support RON PAUL in 2012
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by mikemontreal January 2, 2011 9:13 PM EST
The banks dont want to loan to small business because small business dont meet their happy medium risk management policy ! Where did this guy study to come up with such a stupid line. America and Canada have lost their manufacturing base and are paying the price of unemployement of mass of people who where told show up to work and we will take care of you. Since America seem to work on bubble and burst economy...where will the next bubble come from since all their technology is outsource to Asia. The current model does not work and unfortunatly will leave many on the side of the road begin to tourist like we see everyday in India and other country. Folk unfortunatly extreme povrety is coming our way and their is not much this man and his friend in DC can do about it and they know it.
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by bstanton1944 December 19, 2010 11:41 AM EST
Is Bernanke seriously suggesting that if everyone had a college degree unemployment would be 5%? What universe does this guy live in?
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by cbsnerd December 13, 2010 3:09 PM EST
I think this says it all. Liar Liar pants on Fire. They are making this too complicated. Lets start by putting the crooks in jail. We can hire a ton of law enforcement officers for 600 Billion.
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by lukehlee December 11, 2010 8:05 PM EST
Mr. Pelley and 60 Minutes Producers:

We all are concerned about our economy, but it looks there is no clear solution yet. I think we have missed something very important.

I would refer to something called the ant death spiral, an event that takes place in the natural world.

The cause of this behavior is the technology ant societies use for ground navigation. They follow pheromone trails on the ground laid down by other ants, or they simply follow other ants visually. The system works well normally. A scout ant goes out and finds something. Other ants go back to get more by following the scent trail, or by following each other. However, if a loop gets created, the ants will march blindly, sometimes circling until they die.

Unfortunately, it seems that human beings sometimes exhibit similar behavior by blindly following the previous order. I strongly believe we have made a serious mistake in the market over the last 20 to 30 years of the Modern Information Age, and it created an economic death spiral in the market or economy.

I think it's time to break down this cycle and explore a new order for survival. This time we may be saving the world economy.

I strongly suggest you to see this article: "Breaking Down the Economic Death Spiral - and Saving the World Economy" http://t.co/8pMwQh7
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by LEOGATES December 10, 2010 9:58 PM EST
Has Ben Had a stroke the left corner of his mouth does not look Ok.
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by vmbmfs December 9, 2010 6:11 AM EST
"Well, this fear of inflation, I think is way overstated. We've looked at it very, very carefully. We've analyzed it every which way. One myth that's out there is that what we're doing is printing money. We're not printing money. The amount of currency in circulation is not changing. The money supply is not changing in any significant way. What we're doing is lowering interest rates by buying treasury securities. And by lowering interest rates, we hope to stimulate the economy to grow faster. So, the trick is to find the appropriate moment when to begin to unwind this policy. And that's what we're going to do."

Mr. Bernanke, what are you using to buy the debt? Goodwill? Hot air? Or electrons?
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by pleazzer December 8, 2010 10:08 PM EST
Bernake talks about education being the problem that is causing the disparity in the wealth in this country. While this is a load of crap he does point out a fact that we all must face, it was and is those self proclaimed educated idiots that got us into this mess that we all get to bail out and pay for now. Not to mention HE, Paulson, Bush/Cheney, Summner and Gitner RIPED US ALL OFF AND SAVED THEIR FRIENDS. Bernake is now covering the life raft to his friends by buying debt.
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