5
New Lies That The Federal Reserve Is Telling The American People
http://theeconomiccollapseblog.com
http://albertpeia.com/5newliesbythefed.htm
http://albertpeia.com/fraudulentfedhasfailed.htm
{ Yes, it’s really rather incredible, even astounding, that
people even listen to, much less believe the proven lies, wrong information,
disinformation that bespeaks fraud/deception/cover-up and at best, total
incompetence. Don’t they realize they’re being scammed in a very big way;
particularly, with an election year predisposed pro-wobama
obfuscation? Bernanke is a total fraud. He is totally incompetent! As I wrote,
infra, as comment to Dave Fry’s Summary:
the same helicopter ben who forecast no
recession and whose QEs have helped no one but the
frauds on wall street, with fake numbers on what is in reality much higher
inflation, unemployment, etc., for obfuscation – you cannot solve a problem
without admitting there is one, much less failing to identify the problem, and
with america’s insurmountable debt and debased Weimar
fiat paper currency over-printing, that huge extant problem is substantially exacerbated. {Britain slides back into recession AFP Britain was back in recession
Wednesday after its economy shrank in the first quarter while Prime Minister David
Cameron said the country was being buffetted by the
European downturn [ True, but only because unlike the u.s.,
they are a bit more accurate/truthful, less fraudulent than america
which has already entered (the continuing) recession (actually dollar debased
depression).} { Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events .. “the
new recession has started.”… Over the past 33 years, we have called the start
of every recession..Currently,
the GDP deflator is 1.8%, which hardly reflects the true rise in prices.
Therefore, what is counted as “growth,” is actually
price increases. Actual inflation..is
now more than 11%. Using that to adjust GDP for inflation, would show that the
economy is now in a very sharp contraction…’ }[
Now we know the reason for bernanke’s pro-wobama politicking: Reuters: Mitt Romney says he
would boot Ben Bernanke - The Trail The likely Republican nominee says, “I’d
be looking for somebody new” to run the Federal Reserve if he’s elected
president. Romney criticized Fed Chairman Bernanke for printing too much money
in a bid to stimulate the economy. (April 25, 2012) Drudgereport:
Romney would boot Ben...
And, not only because bernanke as has obama failed miserably; good, sound management all but
requires that he do so. Wobama, the lazy jive-talking
b***s*** artist, despite campaign rhetoric to the contrary, literally continued
all things dumbya bush. ]
‘The Federal Reserve says that everything is going
to be okay. The Fed says that unemployment is going to go down, inflation
is going to remain low and economic growth is going to steadily increase.
Do you believe them this time? As you will see later in this article,
Federal Reserve Chairman Ben Bernanke has been dead wrong about the economy
over and over again. But the mainstream media and many Americans still
seem to have a lot of faith in the Federal Reserve. It doesn't seem to
matter that Bernanke and other Fed officials have been telling the American
people lies for years. As I always say, most people believe what they
want to believe, and many people seem to want to have blind faith in the
Federal Reserve even when logic and reason would dictate otherwise. The
truth is that things are not going to be getting much better than they are
right now. When the next wave of the financial crisis hits, the
The
following are 5 new lies that the Federal Reserve is telling the American
people. After each lie I have posted what The Economic Collapse Blog
thinks is actually going to happen....
#1 The Federal
Reserve says that the labor market has improved and that unemployment is going
to decline significantly over the next few years.
The
following is a quote from the FOMC press release that was released on
Wednesday....
Labor
market conditions have improved in recent months; the unemployment rate has
declined but remains elevated.
The
Federal Reserve is projecting that the unemployment rate will fall within the
range of 7.8 percent and 8.0 percent
by the end of 2012.
The
Federal Reserve is also projecting that the unemployment rate will fall within
the range of 6.7 percent and 7.4 percent
by the end of 2014.
The
Economic Collapse Blog says that the labor market has not improved. In March 2010, 58.5 percent of all working age Americans had a
job. Exactly two years later in March 2012, 58.5 percent of all working age Americans had a
job. If the labor market was improving, the percentage of working age
Americans with a job should have gone up.
The
Economic Collapse Blog also says that while there is a chance the official
unemployment rate may go down slightly in the short-term, the truth is that it
is going to go up into double digits once the next wave of the financial crisis
hits us.
#2 The
Federal Reserve says that that
In
fact, the Federal Reserve is projecting that U.S. GDP will be rising at an
annual rate that falls between 3.1 percent and 3.6 percent
by the end of 2014.
The
Economic Collapse Blog says that a great economic cataclysm is coming....
"When
the European banking system crashes (and it will) it is going to reverberate
around the globe. The epicenter of the next great financial crisis is
going to be in
#3 The
Federal Reserve says that we can expect low inflation for an extended period of
time.
The
Federal Reserve is officially projecting that the annual rate of inflation will
not be higher than 2.0 percent by the end of 2012.
Federal Reserve Chairman Ben Bernanke reinforced this projection during his
press conference on Wednesday....
“But
we expect that to pass through the system, and assuming no new shocks in the
oil sector, inflation ought to moderate to about 2 percent later this year.”
The
Economic Collapse Blog says that the Fed is being tremendously dishonest and
that if inflation was measured the exact same way that it was measured back in
1980, the annual rate of inflation would be more than 10 percent right
now.
The
truth is that most middle class families know that we do not
have low inflation right now. This is hammered home millions of times a
day when average Americans visit the gas station or the grocery store.
At
the beginning of the next recession inflation will likely subside, but that will
only be because economic activity will be slowing down dramatically.
#4 The
Federal Reserve says that it has built up a 30 year reputation for keeping
inflation low.
Ben
Bernanke actually had the gall to make the following claim during his press
conference on Wednesday....
"We,
the Federal Reserve, have spent 30 years building up credibility for low and
stable inflation, which has proved extremely valuable in that we’ve been able
to take strong accommodative actions in the last four, five years to support
the economy."
Oh
really?
The
Economic Collapse Blog says that the Federal Reserve has nearly a 100 year reputation for
destroying the value of the U.S. dollar. Even using the Fed's doctored
numbers, the value of the U.S. dollar has declined by more than 95 percent
since 1913.
To
get a really good idea of just how much the dollar has been destroyed by the
Fed over the years, just check out this chart.
#5 Federal
Reserve Chairman Ben Bernanke says that we should trust him because the Federal
Reserve stands ready to do whatever is necessary to support the U.S. economy.
"If
appropriate... we remain entirely prepared to take additional action"
The
Economic Collapse Blog says that Federal Reserve Chairman Ben Bernanke is doing
a great disservice by not warning the American people about the tremendous
crisis that is coming. In a recent article I stated that this next crisis will
blindside most Americans just like the last one did....
"Sadly,
just like back in 2008, most people will never even see this next crisis
coming."
So
who should you trust - the Federal Reserve or all of the half-crazed bloggers
out there that are warning about the "serious doom" that is coming.
Well,
come back to this article in a year or two and compare how accurate the
predictions were.
In
the end, time will tell who is telling lies and who is not.
If we
do not learn from history, we are doomed to repeat it.
For
example, let's take a quick look at Ben Bernanke's track record over the past
several years.
The
following are statements that Bernanke actually made to the public....
#1 (July, 2005)
"We’ve never had a decline in house prices on a nationwide basis.
So, what I think what is more likely is that house prices will slow, maybe
stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment
path, though."
#2 (October 20, 2005)
"House prices have risen by nearly 25 percent over the past two years.
Although speculative activity has increased in some areas, at a national level
these price increases largely reflect strong economic fundamentals."
#3 (November 15, 2005) "With respect to their
safety, derivatives, for the most part, are traded among very sophisticated
financial institutions and individuals who have considerable incentive to
understand them and to use them properly."
#4 (February 15,
2006) "Housing markets are cooling a bit. Our expectation is that
the decline in activity or the slowing in activity will be moderate, that house
prices will probably continue to rise."
#5
(February 15, 2007) "Despite the ongoing adjustments in the housing
sector, overall economic prospects for households remain good. Household
finances appear generally solid, and delinquency rates on most types of
consumer loans and residential mortgages remain low."
#6 (March 28, 2007) "At this juncture, however,
the impact on the broader economy and financial markets of the problems in the
subprime market seems likely to be contained. In particular, mortgages to prime
borrowers and fixed-rate mortgages to all classes of borrowers continue to
perform well, with low rates of delinquency."
#7 (May 17, 2007) "All that said, given
the fundamental factors in place that should support the demand for housing, we
believe the effect of the troubles in the subprime sector on the broader
housing market will likely be limited, and we do not expect significant
spillovers from the subprime market to the rest of the economy or to the
financial system. The vast majority of mortgages, including even subprime
mortgages, continue to perform well. Past gains in house prices have left
most homeowners with significant amounts of home equity, and growth in jobs and
incomes should help keep the financial obligations of most households
manageable."
#8 (January 10, 2008) "The
Federal Reserve is not currently forecasting a recession."
#9
(June 10, 2008) "The risk that the economy has entered a substantial
downturn appears to have diminished over the past month or so."
But
don't worry, Ben Bernanke insists that he knows
exactly what is going on this time.
So do
you believe him?
A lot
of Americans don't. In fact, an "economic collapse" is the number one catastrophic event
that Americans worry about according to one recent survey.
Perhaps
that is one reason why so many Americans are preparing for doomsday these days.
The
central planners over at the Federal Reserve are not going to solve our economic
problems.
The
truth is that the Fed is at the very heart of our economic problems.
We
have been living in the greatest debt bubble in the history of the world and
that debt bubble has been facilitated by the Fed.
Over
the past three decades, the total amount of debt in
Ben
Bernanke and the other folks running the Federal Reserve are just going to keep
insisting that everything is going to be okay for as long as they possibly
can. They are going to tell you that they know exactly how to fix things
and that the economy will be back on track very soon.
Don't
be stupid and believe them this time.’
http://albertpeia.com/benbsshalombernankesellsfedpansgoldstandard.htm
http://albertpeia.com/22redflagsofdoomforglobalfinancialmarkets.htm