-- Posted Friday, 15 October 2010 | | Source: GoldSeek.com
By R. D. Bradshaw
On Oct 4, 2010, Rothschild relative and key US manipulating agent Ben Bernanke spoke to the Rhode Island Public Expenditure Council on Fiscal Sustainability and Fiscal Rules. While not receiving wide media coverage, there was enough from the media to catch the attention of most Federal Reserve followers. For those persons interested in the words of Rothschild’s front man and liar Bernanke, the full speech is at the Federal Reserve web site. In the meantime, this Goldsmiths will make reference to a few of his statements which seem especially relevant.
He said: “The recent deep recession and the subsequent slow recovery have created severe budgetary pressures… There is no way around it--meeting these challenges will require policymakers and the public to make some very difficult decisions and to accept some sacrifices… The budgetary position of the federal government has deteriorated substantially during the past two fiscal years, with the budget deficit averaging 9-1/2 percent of national income during that time... If current policy settings are maintained, and under reasonable assumptions about economic growth, the federal budget will be on an unsustainable path in coming years, with the ratio of federal debt held by the public to national income rising at an increasing pace. Moreover, as the national debt grows, so will the associated interest payments, which in turn will lead to further increases in projected deficits.
“Failing to address our unsustainable fiscal situation exposes our country to serious economic costs and risks… Larger government deficits increase our reliance on foreign lenders, all else being equal, implying that the share of U.S. national income devoted to paying interest to foreign investors will increase over time. Income paid to foreign investors is not available for domestic consumption or investment. And an increasingly large cost of servicing a growing national debt means that the adjustments, when they come, could be sharp and disruptive… It would be difficult to identify a specific threshold at which federal debt begins to pose more substantial costs and risks to the nation's economy. Perhaps no bright line exists; the costs and risks may grow more or less continuously as the federal debt rises. What we do know, however, is that the threat to our economy is real and growing, which should be sufficient reason for fiscal policymakers to put in place a credible plan for bringing deficits down to sustainable levels over the medium term. The sooner a plan is established, the longer affected individuals will have to prepare for the necessary changes… Amid all of the uncertainty surrounding the long-term economic and budgetary outlook, one certainty is that both current and future Congresses and Presidents will have to make some very tough decisions to put the budget back on a sustainable trajectory.
“Conclusion. Today I have highlighted our nation's fiscal challenges. In the past few years, the recession and the financial crisis, along with the policy actions taken to buffer their effects, have eroded our fiscal situation. An improving economy should reduce near-term deficits, but our public finances are nevertheless on an unsustainable path in the longer term, reflecting in large part our aging population and the continual rise in health-care costs. We should not underestimate these fiscal challenges; failing to respond to them would endanger our economic future.
“Well-designed fiscal rules cannot substitute for the political will to take difficult decisions, but U.S. and international experience suggests that they can be helpful to legislators in certain circumstances. Indeed, installing a fiscal rule could provide an important signal to the public that the Congress is serious about achieving long-term fiscal sustainability, which itself would be good for confidence. A fiscal rule could also focus and institutionalize political support for fiscal responsibility.”
The essence of Rothschild cousin Bernanke’s talk was that the US is on an unsustainable course in its present budgetary and spending practices. The economic future of the nation is at risk unless measures are taken soon to install a critical plan at the national level to bring budget deficits down. Failing to take action on a timely basis can set the stage for later adjustments to be sharp and disruptive when they do come.
Most/many analysts addressing this Bernanke talk took the position that it was a demand/request for Congress to get serious on budget responsibilities and start cutting the deficits significantly. An article at LewRockwell.com had it that the Federal Reserve will not destroy the US dollar in order for Congress to play a game to deceive people.
These are good points to consider but let me suggest in this Goldsmiths that the real message from Rothschild cousin Bernanke was in a different vein than just urging Congress to be prudent and responsible. I am 76 years old and as far back as I can remember we have always had Federal Reserve Chairmen publicly calling for budgetary and fiscal responsibility. Even the deceptive con man Alan Greenspan, another Rothschild relative and agent, publicly called for budget cuts and even balanced budgets. This talk has sounded good to the public for the last 65 years following WWII. But thinking people have known all along that it’s all smoke and mirrors and that’s not what was really on the table at the Fed or with the Congress and presidents (yes, even Reagan had no puncture to deal with the spending/deficit problems).
A Revisit to some Earlier Goldsmiths
Back in the Goldsmiths, Part L, published on March 17, 2009, it mentioned some words very similar to some of the above by Bernanke. This Goldsmiths addressed the Rothschild imposed depression and words from Bernanke and various other officials on what must be done. In particular, mention was made to the assessment of Rothschild cousin John Kohn (who uses the alias Kerry).
Rothschild media source Bloomberg of Mar 6, 2009 had a story on “Animal House party Days Are Over for U.S. banks: John Kerry” which quoted Kerry as saying: “We have to face the reality that huge swaths of our banking system are insolvent. We must recapitalize banks, not to help shareholders, but to rescue our economy… A large, aggressive recapitalization of banks will be costly and unpopular. But we have no other choice. Congress will bite the bullet on this tough decision, but it’s a lot harder when Americans are reading stories about excessive spending by the very banks we’re here to save… What does this have to do with lavish and frivolous spending by TARP recipients? Everything. If Americans continue to lose faith that their tax dollars are being used to rescue the economy, they’ll rebel -- at a time when more painful investments and sacrifices must be made to avoid a deeper and deeper recession. Make no mistake: We need fewer concerts with big-name attractions and more of the hard work to get our economic house in order…”
Even Bernanke’s words about budget deficits were not new. In the Goldsmiths CLVII, published on Sep 2, 2010, focus was directed to Rothschild cousin Bernanke’s words at the Federal Reserve Banking system’s annual Monetary Symposium at the fat cat resort at Jackson Hole, Wyoming in late August 2010.
In his address to the participants, Bernanke said: “In many countries, including the United States and most other advanced industrial nations, growth during the past year has been too slow and joblessness remains too high. This list of concerns makes clear that a return to strong and stable economic growth will require appropriate and effective responses from economic policymakers across a wide spectrum, as well as from leaders in the private sector. Central bankers alone cannot solve the world's economic problems… a return to strong and stable economic growth will require appropriate and effective responses from economic policymakers across a wide spectrum, as well as from leaders in the private sector…”
My comment in the Goldsmiths 157 back then was that Rothschild cousin Ben and the privately owned Fed had been working overtime to figure out more ways that they can send trillions of dollars more from the taxpayers to the big Rothschild Cabal banks and financial institutions and we could expect no change in that mission.
Though Rothschild cousin Bernanke did not explain the private assistance reference in Wyoming, it was clear to me that the intent was that the American people must expect to suffer more and more (sacrifice) as unemployment expands and the credit markets further contract. Obviously, since there are limits to what the Fed or the government can do, it is clear that we the people will be expected to bite the dust and pay for the money going to the big banks thru our blood, sweat and tears.
I summed it up as “But the Rothschild Cabal snakes running things know exactly what they are doing. They are experts at causing periods of inflation and deflation in tandem with periodic wars where they really clean up. Based on the words of Rothschild cousin Ben, my take is that the Rothschild Cabal expects we the people to go thru the wringer of a much harder deteriorating economy with deflation as the Rothschild goal in the immediate future.” That assessment back in Aug-Sep is the same today.
Yet The Tone of Oct 4 was Slightly Different
Though the spin about budget and fiscal responsibility was not new in Rothschild cousin Ben’s words in Rhode Island, there was a new or at least sharper tone than used heretofore by Bernanke. All of a sudden, he introduced the thinking that the US is on an unsustainable path in coming years which will expose the nation to serious economic costs and risk; and failure to respond to them will endanger America’s economic future. He noted that failing to take action on a timely basis would set the stage for later adjustments to be sharp and disruptive when they do come.
My Take and Conclusion
While the case might be made for just more of the same—smoke and mirrors and pap and crap—I would suggest that there was more to it than just that reality.
I must hasten to say that Bernanke has spent his entire career at the Fed working for his cousins in the Rothschild Cabal of bankers—to include the Rothschilds, Roggenfelders/Rockefellers, Lazards, Oppenheimers, Warburgs, Lamberts of Belgium (the mother was a Rothschild), Agius at Barclays (the mother was a Rothschild), Bronfmans (who are big in Canada), etc. As far as I can tell, everything Bernanke does and says is designed to benefit his banking relatives and not the people of America. Thus, his talk in Rhode Island was to benefit his relatives with the big Cabal banks.
Increasingly, it is clear to many persons that the present path spells disaster (which cannot now be avoided). And this disaster is not just something surfacing in the last few years (as the liar Bernanke tries to convey). No, the disaster was laid on in 1913 when we stupidly, illegally (per the US Constitution) and irresponsibly turned the US money supply over to this gang of money changers and money crooks. The question was never about the certainty of the end of the US money system, but rather only a question of WHEN. The days of WHEN are almost to the point of resolution. As Bernanke subtly conveyed in Rhode Island, the when is getting very close and can quickly and sharply come on us.
As always, the solution has been for the president and Congress to cut spending drastically and start showing a budget surplus--except for Rothschild Cabal wars and bail-outs (and even if the budget act is all smoke and mirrors, as occurred under Bill “Slick” Clinton). But Bernanke knows this course is now impossible. The primary problem is that the Rothschild Cabal of bankers has been stealing this nation blind for centuries. Their thefts are accelerating and they fully intend stealing all of the remaining wealth in America before the nation hits the garbage can. That’s what Kohn (alias Kerry) had in mind back in March 2009 (in cited in Goldsmiths 50). Bernanke fully supports this and is making plans right now to explode monetary expansion to the hilt in order to further bail out and support the big Cabal banks and their bail-outs and wars for profit.
In the final analysis, it matters little or nothing what the people want. The president and Congress have been bought and paid-for to deliver to the Cabal bankers. This is going to happen and can’t be stopped except in a crisis of a successful internal revolution and/or the defeat of the US in WWIII. In earlier statements, even as late as August 2010 at Jackson Hole, Rothschild cousin Ben spoke in the vein of survival if the Americans will sacrifice and give up everything to support the dollar so that it can be used to further enrich the Rothschild Cabal. In the Rhode Island talk, I didn’t detect that option in plain speech.
Bernanke is no fool. He is clever, cunning and deceptive (which is the MO of the Rothschild Cabal of crooks—see Understanding Money and War XIV at www.analysis-news.com). I submit that in Rhode Island, he was laying out the frightening aspects of a soon coming melt down of the US system. And when it happens, the people must not blame the Fed (or its secret banking owners) but must ignorantly place the blame on the president and Congress.
This is the very point I made in August 2008 in the Goldsmiths Part I and again in Understanding Money and War I (at www.analysis-news.com). The name of the game is not to blame the Fed (or its secret banking owners), but to blame the elected leaders as chosen by the Rothschild Cabal (who have been spending trillions in Rothschild Cabal wars, bail-outs, benefits, etc and thus working for the banking owners of the Fed). Thus, it’s alright to blame teleprompter Obama, Reid, Pelosi, the idiot Bush, etc—but do not blame the Rothschild Cabal of bankers who are actually the bosses and controllers of presidents and leading members of Congress.
If the idiots out there get mad in a revolution, they MUST NOT take their wrath out on the Rothschilds, Roggenfelders, Lamberts, Lazards, Warburgs, Aguises, Oppenheimers, Bronfmans, etc. The dumb sheep people must be taught to hate and hang their own elected politicians. And if the heat does get bad, all of the Cabal fat cats can jump in their executive airplanes and flee to Israel/Switzerland where they have dual citizenship and secret bank accounts stashed away for a rainy day.
I suggest that it is all a game of CYA (cover your –ss) in Bernanke’s talk. But the fact that he made it and suggested the urgency and fear involved leads me to suspect that Rothschild cousin Ben now sees the handwriting on the wall/the certainty of the end on the horizon and is making preparations for the dumb sheep public to not get mad at the bankers; but instead the people must take their wrath out on members of Congress (which is the Rothschild MO, as cited in the Goldsmiths I and Understanding Money and War I at www.analysis-news.com).
After all, Rothschild cousin Ben has his own hide at stake if the dumb sheep go wild and start hanging people. Ben would like to get away to Israel first if possible where he has dual citizenship and where he will not be extradited to a foreign state to face criminal charges for his years of lying, deceiving, cheating, defrauding and stealing from the public. The Cabal masters and their cousins and agents all expect to be able to flee to safety if the mess they cause in America heats up and gets out of control.
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-- Posted Friday, 15 October 2010 | Digg This Article | Source: GoldSeek.com