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Amazing: Bernanke OnThe Great Depression - 'We Did It'

 
Arch~Angel
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08/18/2007 07:44 PM
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Amazing: Bernanke OnThe Great Depression - 'We Did It'
[link to www.rense.com]


From Shaan Sharma
8-18-7

Hi Jeff - I was reading about our current Federal Reserve

Chairman, Ben Bernanke, and I came across an amazing quote. Why this admission hasn't been spread to the four corners of the world, I don't know. But it should.

From his Speech to the Federal Reserve Board

[link to www.federalreserve.gov]


From wikipedia.org:

Bernanke is particularly interested in the economic

and political causes of the Great Depression, on which

he has written extensively.


On Milton Friedman's ninetieth birthday, Nov. 8, 2002, he stated:


"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

_______


Here, the current Chairman of the Federal Reserve admits they intentionally caused the Great Depression.

Ask yourself WHY?


For God's sake, Why would they do that

to the millions of innocent Americans who were so tragically affected?


Ben went to Harvard, got his PHD at MIT, taught at Stanford and Princeton, lectured at the London School of Economics.

I'm pretty sure he knows what he's talking about.

If that doesn't wake you up, nothing will.

Shaan
"It was not my intention to doubt that the doctrines of the Illuminati, and the principles of Jacobinism, had not spread in the United States. On the contrary, no one is more fully satisfied of this fact than I am."

~George Washington, 1782
von Doom
User ID: 284765
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08/18/2007 08:11 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
[link to www.rense.com]


From Shaan Sharma
8-18-7

Hi Jeff - I was reading about our current Federal Reserve

Chairman, Ben Bernanke, and I came across an amazing quote. Why this admission hasn't been spread to the four corners of the world, I don't know. But it should.

From his Speech to the Federal Reserve Board

[link to www.federalreserve.gov]


From wikipedia.org:

Bernanke is particularly interested in the economic

and political causes of the Great Depression, on which

he has written extensively.


On Milton Friedman's ninetieth birthday, Nov. 8, 2002, he stated:


"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

_______


Here, the current Chairman of the Federal Reserve admits they intentionally caused the Great Depression.

Ask yourself WHY?


For God's sake, Why would they do that

to the millions of innocent Americans who were so tragically affected?


Ben went to Harvard, got his PHD at MIT, taught at Stanford and Princeton, lectured at the London School of Economics.

I'm pretty sure he knows what he's talking about.

If that doesn't wake you up, nothing will.

Shaan
 Quoting: Arch~Angel


"We did it" could denote responsibility, not intent.
Anonymous Coward
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08/18/2007 08:15 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
1929 helped start ww2. The jews got Israel out of that. This bank troouble should start ww3.
Bob™

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08/18/2007 08:16 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
"We did it" could denote responsibility, not intent.
 Quoting: von Doom 284765

Exactly. He never indicated that it was intentional.
Anonymous Coward
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08/18/2007 08:17 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
I'm pretty sure he knows what he's talking about.


 Quoting: von Doom 284765



Pure conjecture. This is precisely why you Murkins are in the trouble you're in right now, and dragging the rest of the world down your educated toilet with you.
von Doom
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08/18/2007 08:23 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
I'm pretty sure he knows what he's talking about.





Pure conjecture. This is precisely why you Murkins are in the trouble you're in right now, and dragging the rest of the world down your educated toilet with you.
 Quoting: Anonymous Coward 284773


And being myopic means that you will always confuse the shadow cast from your protruding forehead with that from a shade tree.

By the way, the next Depression will be Global
Anonymous Coward
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08/18/2007 08:23 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
"We did it" could denote responsibility, not intent.

Exactly. He never indicated that it was intentional.
 Quoting: Bob™

Why apologize for something you're not responsible for. Asuming innocence is as silly as presuming guilt.
Anonymous Coward
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08/18/2007 09:06 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
he is obviously refering to the "collective" we, not himself and his nefarious brethren {SARCASM}. He is saying "we" made mistakes [policies, decision making etc., that caused the Great Depression. Cant believe he would'nt have admitted in a public address that he and his cohorts caused The Great Deppression can you? I know, hard to believe, huh? ...........[SARCA...aw forget it
The Monk
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08/18/2007 09:29 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
OP,

The Fed failed to do what it was actually set up to do and that's provide liquidity and elasticity to the currency (pump more cheap dollars into the banking system)- it allowed a massive credit crunch to insue. Had JP Morgan still been in power, he would have dealt with it handily but the Fed was now in control as the country was using a single currency and they utterly failed in their responsibility.

That's not happening now. They are pumping away to the tune of tens of billions, hundreds of billions worldwide. Plus they cut 100 basis points off the prime rate. So this current "credit crunch" is totally bogus and so much news hype. The business news outlets are really pushing this "crisis" for an advertising windfall. Now everyone is buying into it like post 9/11 and blaming it for their crappy performance like Walmart- as if Walmart's customers were all paying with HELOC money. Get Real!!!
von Doom
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08/18/2007 10:08 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
OP,

The Fed failed to do what it was actually set up to do and that's provide liquidity and elasticity to the currency (pump more cheap dollars into the banking system)- it allowed a massive credit crunch to insue. Had JP Morgan still been in power, he would have dealt with it handily but the Fed was now in control as the country was using a single currency and they utterly failed in their responsibility.

That's not happening now. They are pumping away to the tune of tens of billions, hundreds of billions worldwide. Plus they cut 100 basis points off the prime rate. So this current "credit crunch" is totally bogus and so much news hype. The business news outlets are really pushing this "crisis" for an advertising windfall. Now everyone is buying into it like post 9/11 and blaming it for their crappy performance like Walmart- as if Walmart's customers were all paying with HELOC money. Get Real!!!
 Quoting: The Monk 284796


It sounds as if you are saying that the Fed can continue to pump liquidity ad infinitum until the problem is "solved."

Was the dollar fiat in 1929 as it is today to afford such liquid flexibility?

At what point does liquidity morph into credit?

The slippery slope is well-defined.
von Doom
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08/19/2007 12:55 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
Bump for some answers to questions posed
Mickeyblue
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08/19/2007 01:04 PM
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Re: Amazing: Bernanke OnThe Great Depression - 'We Did It'
von doom most likely got it right. Taking this one remark out of the context of what was addressed does not mean they intended,plotted or directed this to occur, simply that out of their policy, lack of objective comprehension this was the result.
In the manner in which is was presented it was irresponsible without looking up the entire text of what was said. It means zero,nada.





GLP