Ben Shalom Bernanke
Who is he: Ben Shalom Bernanke was born on December 13, 1953 in North Augusta, South Carolina but spent most of his formative years in the small town of Dillon, South Carolina. On February 1, 2006, President George W. Bush appointed Ben Bernanke to a 14-year term as a member of the Federal Reserve Board of Governors, and to a 4-year term as Fed Chairman.
Central banking is monetary price fixing. It doesn't work and over time causes ruinous booms and busts. Dr. Bernanke, who will not acknowledge that fact, has presided over the financial meltdown and collapse which began in 2007. Although certainly not personally responsible for the excesses and bubble created by Greenspan, Bernanke's solution to the meltdown has been a totally Keynesian reaction that has generated vast increases in the money supply, burgeoning deficits and the national debt and the bailout of Wall Street, the banking industry, the automobile industry, etc.
The US Supreme Court has ruled that the banking recipients of the bailout which Dr. Bernanke had attempted to keep secret had to be disclosed, which showed that most of the bailout funds actually went to foreign banks. Thus we can see that in addition to presiding over a failed paradigm, Dr. Bernanke is actively as well as passively dishonest.
Congressman Ron Paul described Ben Bernanke when he said: "There is something fishy about the head of the world's most powerful government bureaucracy, one that is involved in a full-time counterfeiting operation to sustain monopolistic financial cartels, and the world's most powerful central planner, who sets the price of money worldwide, proclaiming the glories of capitalism."
It is not really fishy, of course. Dr. Bernanke is paid to do what he does, which is to put the finishing touches on the end of the American Republic and turn it fully into a dysfunctional mechanism that will accommodate a "new world order."
Background: Ben Shalom Bernanke spent his early years in the North Carolina/South Carolina border town of Dillon, SC where he worked part-time as a waiter at South of the Border – probably the tackiest tourist trap on the US east coast. However, there were few jobs in the farming town of Dillon. A model student, Bernanke graduated from Dillon High School where he was class valedictorian and his SAT score was 1590 out of 1600.
Bernanke received his undergraduate degree from Harvard University and his Ph.D in economics from the Massachusetts Institute of Technology in 1979. Dr. Bernanke's thesis was titled "Long-term commitments, dynamic optimization, and the business cycle" and Bernanke's thesis adviser was Stanley Fischer. This illustrates the interlocking organization and association of all the central banks around the world, as today Stanley Fischer is the Governor of The Bank of Israel.
Dr. Bernanke taught at the Stanford Graduate School of Business from 1979 until 1985. Bernanke also taught at New York University and went on to become a tenured professor in the Economics Department of Princeton University where he chaired the department from 1996 to 2002.
Dr. Bernanke served as a member of the Board of Governors of the Federal Reserve System from 2002 to 2005. In what is believed to be one of his first speeches as a governor, titled "Deflation: Making Sure It Doesn't Happen Here," Bernanke best described his monetary views and actions following the great meltdown and financial crisis impacting America since 2007. Although unable to stem the real estate crash resulting from the low interest rates during the Greenspan period, Dr. Bernanke has maintained a policy of almost zero interest rates during his tenure. He is evidently trying to manipulate the stock market back to within 12% of the top of the bubble to counter the public perception of recession and depression.
The major foreign buyers of US debt, in addition to China, which has purchased almost a trillion dollars of the fiat currency, are the major oil producing and exporting nations of the Middle East. There is deep concern among free-market thinkers about what could happen if the color revolutions sweeping through the Mideast and Northern Africa succeed in installing new governments more in tune and accountable to their people rather than controlled by the United States. These non-puppet governments of the West, if that were to occur, might put their national interests before the dollar and choose to price part or all future oil revenues in non-dollar denominated currencies. This could trigger massive sales of foreign holdings of US Treasury debt, a decline in new purchases and threaten the dollar's continued status as the world's reserve currency.
News & Analysis
|04/18/13||More Hints That Bernanke Is Leaving|
|04/04/13||Obama Pumps a New Housing Bubble|
|03/29/13||Two Reasons to End US QE? We Can Think of One More ...|
|03/05/13||The Fed's Tightening Pipe Dream|
|12/20/12||Outlook for 2013: More 'Easy Money'|
|07/13/12||Can Bernanke Force Banks to Lend by Halting Interest on Excess Reserves?|
|11/10/11||Rep Grayson Grills the Fed's Ms. Coleman Over Missing Trillions|
|07/14/11||Ron Paul Takes Ben Bernanke to Task: Is Gold Money?|
|06/23/11||Max Keiser and Marc Faber - Bernanke Is a Murderer|