When it Really Mattered, Ben Bernanke Coddled, Protected & Bailed Out Financial Criminals

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Most of you will have seen Ben Bernanke’s recent crocodile tears regarding how he wished more individuals were held responsible, for you know, destroying the American middle class and handing over the nation to a handful of criminal oligarchs.

As David Dayen notes, he is completely full of shit. As usual.

From the Intercept:

Former Federal Reserve Chair Ben Bernanke joined practically everyone in America by saying in his new memoir, The Courage to Act, that more Wall Street executives should have gone to jail for criminal misconduct that led to the financial crisis.

“It would have been my preference to have more investigation of individual action, since obviously everything what went wrong or was illegal was done by some individual, not by an abstract firm,” he wrote.

Unlike practically everyone else in America, however, Bernanke was in a pretty good position to actually facilitate criminal misconduct proceedings, if he wanted to see them so badly — as  head of the nation’s most powerful bank supervisory agency from 2006 to 2014.

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Picture of the Day – The Moment Janet Yellen Figured it All Out…

Janet Yellen realizes that you can’t taper a ponzi. In Liberty, Michael Krieger Like this post? Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G Follow me on Twitter.

So Who’s in Jackson Hole…Christine Lagarde or Bart Chilton?

After a long week there’s nothing like a good laugh. While I was lamenting the fact that all these slimy central planners had once again decided to invade the beautiful landscape of the great Western USA by holding another one of their ponzi rituals in Jackson Hole, the following picture brightened up my day. So … Read more

Bitcoin is Booming…and it’s Scaring Central Bankers

Bitcoin.  Controversial.  Game changing.  Complicated yet simple.  While most of my non fiat money is in precious metals, there’s a lot I love about Bitcoin.  The dramatic rise and subsequent crash that Bitcoin experienced in 2011 occurred well before I possessed my first unit of this crypto-currency.  Since then, it has recovered dramatically and at $19.65 last check is up almost 4x since the end of 2011.

Bloomberg published an article on Bitcoin a few days ago titled: Bitcoin’s Gains May Fuel Central Bank Concerns: Chart of the Day.  Here are a few excerpts:

An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks.

The CHART OF THE DAY shows that bitcoin has more than doubled in the past 12 months, strengthening to $16.37 from $5.88, according to data from Mt. Gox, the world’s largest bitcoin exchange. The money, issued by a decentralized network of computers, has recovered after falling to $2.14 in November 2011 from a high of $29.58 five months earlier.

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French Central Bank Workers Go ON STRIKE

This might be the best economic stimulus that could ever come to France.  The only shame of it all is that they waited until after France went “totally bankrupt.”  All we need now is for all Central Bankers globally to go on a permanent strike so that the rest of us can rebuild the society … Read more

Video Blog #2: What to Expect from the Fed Tomorrow

Since nothing else moves the markets these days besides the utterances of insane Central Planners armed with printing presses, I figured it would be a good idea to preview tomorrow’s Fed decision.  I find the setup particularly interesting since the consensus seems to be expecting QE3 and I do not.  Have a watch! Like this … Read more