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Your points are excellent but I have to disagree with some.

I personally don't see Bernanke himself as scum. I think he was used and perhaps ended up getting his job because of his expertise in the Great Depression and his strong belief that it could have been prevented if the Fed in the 1930s supplied banks with liquidity instead of cutting supply. So 'they' had someone in charge that would, under similar circumstances, keep the money-supply going at record volumes. And we know what happened.

I think that Bernanke is opening up the Fed to the world, because he probably now realises this and does care about the American economy and his own job. He has to now because there is a growing push to end the Fed, and the pressures are coming from all angles; The Tea Party, media, many in the judiciary (that see the Fed as unconstitutional). I know many will disagree but I think 'they' had their man in charge of money supply, and Bernanke was read like a book. I think that Henry Paulson etc played Bernanke like a fiddle during those crucial over-the-weekend meetings to 'save' the financial system. I think that Bernanke would have realised then that the X-CEO of Goldman Sachs, Henry Paulson, negotiated moves that meant that Goldman Sachs would come out of the 'negotiations' a bigger and better future company.

The JFK reference is important, as he tried to use a silver-standard to bypass the Fed and go strait to Treasury to print legal tendered currency. 4 to 5 months later, Kennedy was assassinated. No link intended!!

Many believe the banks' failures shouldn't have been 'insured' by future tax-payer liabilities. However what choice did Bernanke have? If he allowed the financial system to collapse then you would have a worse situation in the US and around the world. The US will one day restructure or reset its economy and currency and it will be its creditors, like China, that will be left without a chair to sit on.

Bill Gross seems to think the US will not be in a position to pay its debt obligations, and he, to me, is as close to an economic oracle as we have. Most other leaders in the economic world are just sales-reps, pushing all kinds of products.

Obama inherited this mess. Bush and his entourage had so much more to do with the GFC.

<blockquote data-quote="konkon" data-source="post: 629016" data-attributes="member: 41992">Your points are excellent but I have to disagree with some. I personally don&#039;t see Bernanke himself as scum. I think he was used and perhaps ended up getting his job because of his expertise in the Great Depression and his strong belief that it could have been prevented if the Fed in the 1930s supplied banks with liquidity instead of cutting supply. So &#039;they&#039; had someone in charge that would, under similar circumstances, keep the money-supply going at record volumes. And we know what happened. I think that Bernanke is opening up the Fed to the world, because he probably now realises this and does care about the American economy and his own job. He has to now because there is a growing push to end the Fed, and the pressures are coming from all angles; The Tea Party, media, many in the judiciary (that see the Fed as unconstitutional). I know many will disagree but I think &#039;they&#039; had their man in charge of money supply, and Bernanke was read like a book. I think that Henry Paulson etc played Bernanke like a fiddle during those crucial over-the-weekend meetings to &#039;save&#039; the financial system. I think that Bernanke would have realised then that the X-CEO of Goldman Sachs, Henry Paulson, negotiated moves that meant that Goldman Sachs would come out of the &#039;negotiations&#039; a bigger and better future company. The JFK reference is important, as he tried to use a silver-standard to bypass the Fed and go strait to Treasury to print legal tendered currency. 4 to 5 months later, Kennedy was assassinated. No link intended!!<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite9" alt=":eek:" title="Eek!&nbsp; &nbsp; :eek:" loading="lazy" data-shortname=":eek:" />Many believe the banks&#039; failures shouldn&#039;t have been &#039;insured&#039; by future tax-payer liabilities. However what choice did Bernanke have? If he allowed the financial system to collapse then you would have a worse situation in the US and around the world. The US will one day restructure or reset its economy and currency and it will be its creditors, like China, that will be left without a chair to sit on. Bill Gross seems to think the US will not be in a position to pay its debt obligations, and he, to me, is as close to an economic oracle as we have. Most other leaders in the economic world are just sales-reps, pushing all kinds of products. Obama inherited this mess. Bush and his entourage had so much more to do with the GFC.</blockquote>

[QUOTE="konkon, post: 629016, member: 41992"] Your points are excellent but I have to disagree with some. I personally don't see Bernanke himself as scum. I think he was used and perhaps ended up getting his job because of his expertise in the Great Depression and his strong belief that it could have been prevented if the Fed in the 1930s supplied banks with liquidity instead of cutting supply. So 'they' had someone in charge that would, under similar circumstances, keep the money-supply going at record volumes. And we know what happened. I think that Bernanke is opening up the Fed to the world, because he probably now realises this and does care about the American economy and his own job. He has to now because there is a growing push to end the Fed, and the pressures are coming from all angles; The Tea Party, media, many in the judiciary (that see the Fed as unconstitutional). I know many will disagree but I think 'they' had their man in charge of money supply, and Bernanke was read like a book. I think that Henry Paulson etc played Bernanke like a fiddle during those crucial over-the-weekend meetings to 'save' the financial system. I think that Bernanke would have realised then that the X-CEO of Goldman Sachs, Henry Paulson, negotiated moves that meant that Goldman Sachs would come out of the 'negotiations' a bigger and better future company. The JFK reference is important, as he tried to use a silver-standard to bypass the Fed and go strait to Treasury to print legal tendered currency. 4 to 5 months later, Kennedy was assassinated. No link intended!!:eek: Many believe the banks' failures shouldn't have been 'insured' by future tax-payer liabilities. However what choice did Bernanke have? If he allowed the financial system to collapse then you would have a worse situation in the US and around the world. [B]The US will one day restructure or reset its economy and currency[/B] and it will be its creditors, like China, that will be left without a chair to sit on. Bill Gross seems to think the US will not be in a position to pay its debt obligations, and he, to me, is as close to an economic oracle as we have. Most other leaders in the economic world are just sales-reps, pushing all kinds of products. Obama inherited this mess. Bush and his entourage had so much more to do with the GFC. [/QUOTE]

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