Bernanke thinking about stepping down as fed chairman

www.bloomberg.com...

Seems a little convenient considering that he stated us banks might get "depositor haircut".

Running for the hills before your head gets put on a pike ol' Benny?

Dogs run from the ( much forecast at ATS ) earthquake

That is some crazy timing indeed! With everything that is going on with the economy, and now the issues with Cyprus and New Zealand he is considering stepping down? Does he know that the storm is coming and it's time to take shelter out of the public eye?

Well, he came and he looked across the land. The land as he found it was prosperous and really roaring with low unemployment and money flowing pretty freely. 2006, this man took Office as the Chairmen of the Federal Reserve. 2006 Bush appointed him to tend to the nation's money supply and interest rates in conjunction with the Treasury Department. Since then, to my utter shock, Obama liked him enough to reappoint him and see him carried through the Senate confirmation process.

More policies of the old, brought in for all that B.S. hope and change talk, eh?

Now? We are a land in deep deep economic crisis, on the verge of collapse under the weight of a debt burden we now see growing at a exponential rate. The national economy is in the crapper with unemployment at horrible numbers even this fool only HOPES will drop down to 6 percent within a couple YEARS. Maybe.

Well.... I don't want to see him resign. I want to see him stand trial under criminal charges. I don't think he has any right to go into retirement. The bastard has ruined a nation with policies following but WORSE than what led directly into the Great Depression for totally irresponsible fiscal policy. He's even been proud of his work.

That is the face of our nation's destruction. I want him gone...but in a 8x10 concrete cell until he dies hard of old age and outright neglect. A pathetic shell of a man ....which isn't THAT far from what we see now. He's just a wealthy shell right now. That's the problem to correct, IMO.

now now Wrabbit
just reduce ( haircut) the balance in his ( baldy's) savings account to 0
that should do it

reply to post by shanegm


He can't hide from himself and God knows all hearts and minds and there is nowhere to hide.

... too few believe in God because of Religions and thus are impotent to garner His aid

Originally posted by Danbones
now now rabbit

just reduce the balance in his savings account to 0
that should do it

You're right. Perhaps he just needs a little "haircut" and some austerity brought to his life. For instance, what is the retirement package for him? If we're having to cut so much for so many, it seems a real waste to allow money wasted on retirement to men with so much already, eh? Social Security is cut without mercy if anyone has additional money of ANY kind coming in. Oh, never mind how much someone may have paid into it for their entire lives.....if they make a dollar over whatever pittance they call too much working income? Adjustment time!

Well... Indeed... I like your idea. Let's adjust HIS net worth by a few zeros. The nation needs what he can give, after all, right?

reply to post by shanegm


If he does step down then that could bring on the economic collapse a lot sooner depending on what the new Chairman does in regards to QE. When QE stops, the "poop" hits the fan.

I should think he's considering stepping down, his term as Chairman ends in less than a year (Jan 31, 2014). He will not ask to be reappointed to a third term, partially for the reasons given above, and partially because the confirmation hearings would be very interesting. Who knows? There might even be a Republican Senate.

o boy, S is going to hit the fan soon. The rat is jumping ship

Um . .. .

When there were wooden ships in common use, there would always be rats on board. If the ship were to sink the rats would jump off and swim away because they knew the ship was sinking and that they needed to swim to safety/shelter.

Source

'nuff said.

Bernanke States Cyprus Style Depositor Haircuts Possible in US if Events in Europe Become Contagious

I read that thread the other day and thought to myself "wow Bernanke just told the truth for once in his life". It shocked me a little to be honest, since he always tries to hide the truth and prevent panic. The timing of this certainly is a little coincidental, something tells me we have interesting times ahead.

He's running for his secret underground bunker that we tax payers have been funding through the invoices the Fed keeps sending over.

I think he knows that no matter how long they keep dumping 85 billion dollars a month into the economy...it is still going to fall apart. It appears he doesn't want to be around when the inevitable happens.

Oh well, had to happen sooner or later...economical collapse, depopulation, rise of the new monarchies and the return to feudalism/fiefdom...

It was a great experiment, but we let the foxes watch the hen house for too many years...we might all be waking up now, but methinks it might be too late.

reply to post by Jeremiah65

I think he knows that no matter how long they keep dumping 85 billion dollars a month into the economy...it is still going to fall apart.

I would say that this unending quantitative easing is only serving to hasten the problem by causing people to lose faith in the US dollar. How they cannot see that baffles me. I think they're forced to keep printing it in order to continue supplying liquidity to the debt based economy which constantly demands to be serviced with money which doesn't exist. This is the tipping point where the exponential growth on that demand is beginning to out-pace their ability to inject new money into circulation.

reply to post by ChaoticOrder


I think you are prob correct. We live in a "faith based economy and currency"...when that faith is rattled, there is little that can be done to restore it.

People are getting somewhat jittery over the talk of "depositor" haircuts. People are watching the developments in Cyprus and their faith has been shaken just enough that many do not doubt it can and will come to our shores...eventually.

Sure, Cyprus is a very small place, their debt and money problems are miniscule in comparison. However, if the Eurozone and the IMF feel this is a rational step in this situation, how long before they come to the conclusion that something like this or bigger must be done for everyone else that has a crushing national debt? The fact that Bernanke did not completely remove that option from the table when asked was enough to send folks scrambling to withdraw money from their accounts and look for alternatives. This is prob a very bad thing if it balloons.

Bah...I don't know anything about economy...I just know that I live within my means as best I can and do not spend money I do not have with the expectation my kids and grandkids will foot the bill.

Originally posted by camaro68ss
o boy, S is going to hit the fan soon. The rat is jumping ship

That's all it is. The entire system, by design, was doomed to failure and it just so happens that Bernanke thinks it might come on his watch. He's no less devious than every one of his predecessors since the Federal Reserve Act back in what, 1912 or something like that?