According To Ben Bernanke: Federal Reserve Needs More Power

image/youtube screen grab

According To Ben Bernanke: Federal Reserve Needs More Power by Rory – The Daily Coin

Anyone who has been paying attention knows and understands what the economy is doing, which it has improved, but it’s nothing more than smoke and mirrors. The unemployment rate is a lie, the GDP is a lie and the stock market is 100% laughable.

However, according to the bastion of truth, Yahoo Finance, the “financial crisis is 10 years in the rearview mirror” – to which I ask, really; based on what metric?

With the financial crisis now 10 years in the rearview mirror, former Federal Reserve Chairman Ben Bernanke says the U.S. central bank may be ill-equipped to handle the next financial crisis. Source

Sounds like Bennie-boy is covering for his buddies on Wall Street and setting the table for his masters at the IMF and BIS to take over the western world banking and financial systems. Bernanke is nothing more than an errand boy for these globalist banking cabals and his job is to say what they want him to say at the time they want it to be said. The major stock markets around the world are signaling to the citizens that something may be wrong and the International Monetary Fund (IMF) and Bank for International Settlement (BIS) want to be sure there message is one of hope and concern, when these people are in fact the reason for our crumbling economy.

Speaking alongside former European Central Bank President Jean-Claude Trichet and former Bank of England Governor Mervyn King, Bernanke said other central banks have more flexibility in terms of what companies they can lend to, whereas the U.S. needed to get Congressional action to lend to nonbank companies through the Troubled Asset Relief Program. King briefly joked that the Bank of England could lend to the Aston Villa Football Club if it wanted to.

****

Bernanke said he would advocate for extending the definition of a bank to allow regulators to keep an eye on companies that are not strictly commercial banks. He also said he could see a need for the Federal Deposit Insurance Corporation, which insures bank deposits and oversees the liquidation of distressed institutions, to have jurisdiction over creditors that rely on short-term funding. Source

If the “central banks” can’t handle the next manufactured “crisis”, bigger and badder than the 2009, this will mean their owners, IMF and BIS, will have to play a role in “saving the world”.  Well, isn’t this what these institutions have been working in since 2010?

Quantitive Easing has been nothing more than an attempt to “fix” the economy 100% failure. Or was it for the purpose of flooding the zombie banks with much needed cash so they wouldn’t slide into the ocean, sink like the Titanic and never be seen again? In that case 100% success.

Not only has this policy rigged the bond market, it has made it possible for all the corporate stock buy backs that are now cannibalizing companies as we stated it would back in 2015. Just these two issues alone are going to implode the economy. If you combine these nightmares with automation, robotics and AI, all of which are taking over the work place, how can our economy ever grow in the same manner as it did between 1850 and 1950? It can’t. Those days are gone and will never, ever return.

Bernanke, who is directly responsible for delivering the policies drawn up by his masters,  is now saying that  nothing is working, and everything is going to fall apart and there is nothing anyone can do about it, UNLESS, the “central banks” are given all the power they need.

That tool, Bernanke said, needs to be extended to cover shadow banks like broker-dealers and other non-bank institutions that could prove systemic in the next financial downturn.

“I fear they are not fully adequate,” Bernanke said of the Fed’s regulatory powers. Source

The first question is why are “shadow banks” a thing? What constitutes a “shadow bank” and why are they part of the landscape – so much so they are going to need to be rescued; which is exactly what Bernanke is eluding to. What about “non-bank institutions”? You mean privately owned / publicly traded corporations? You mean socialism is the only answer? If a “non-bank institution” fails shouldn’t it simply be washed away in a pile of mistakes and bad decisions and not be considered for anything other than bankruptcy and failure?

Bernanke said he disagrees with the notion that banks should be allowed to fall to complete bankruptcy, saying that the risks to the economy would be too large to not have some kind of safety net — like the orderly liquidation authority — in place.

“If you can’t allow a large firm to fail,” he said, “then you’re in the situation where in a crisis every large firm is a time bomb.” Source

Speaking of bankruptcy let’s not forget how Janet Yellen set the table for that to unfold. According to Janet Yellen, former Chairman of the Federal Reserve, these “institutions” should not fail but simply file bankruptcy. Here’s how that’s a benefit to these zombie institutions. They pay one another with their ill-gotten gains and leave the stock holders, investors and depositors holding the bag.

The Federal Reserve is nothing more than a wealth transferring mechanism. The tool used to accomplish this goal is the Federal Reserve Note, U.S. dollar. The Federal Reserve is a private corporation that is owned by a handful of the too big to jail banks, including JPMorgan, Wells Fargo, HSBC and several others. The Federal Reserve, as a company, reports to the IMF and BIS who make the policies that are foisted upon billions of people around the world.

With all of this said, it only makes sense the next engineered financial crime will overwhelm the national banks (central banks) like the Federal Reserve, Bank of England and Peoples Bank of Japan. This will consolidate power at the highest level. Power of the purse is real power and power to control and issue currency is the ultimate evil.

One last note. If you think all this isn’t being engineered listen to what Ben Bernanke said himself in 2002.

The Fed also has a habit of raising interest rates at the onset of economic instability or right in the middle of a downturn, as it did in 1928-1929, triggering the Great Depression, and in 1931, adding fuel to the fire of financial catastrophe. These particular catalyzing policy actions are partly what Ben Bernanke was referring to on Nov. 8, 2002, in a speech given at “A Conference to Honor Milton Friedman … On the Occasion of His 90th Birthday”:“In short, according to Friedman and Schwartz, because of institutional changes and misguided doctrines, the banking panics of the Great Contraction were much more severe and widespread than would have normally occurred during a downturn.

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.” Source

If you think for a minute these people want do it again, look no further than 7 years after Bernanke made this admission and the 2009 financial crisis. Is Trump the perfect scapegoat for the next engineered crisis?

Sharing is caring!

Author Image

The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.