Thursday, June 4, 2009

Bernanke...Useless Eaters Not Wanted

http://beta.images.theglobeandmail.com/archive/00045/Ben_Bernanke_45569gm-a.jpg
"Social Security and Medicare are outdated concepts designed only for old useless eaters. The new world banking order doesn't need them.".....Ben Shalom Bernanke

"The recent projections from the Social Security and Medicare trustees show that, in the absence of programmatic changes, Social Security and Medicare outlays will together increase from about 8-1/2 percent of GDP today to 10 percent by 2020 and 12-1/2 percent by 2030. With the ratio of debt to GDP already elevated, we will not be able to continue borrowing indefinitely to meet these demands." Bernanke before congress June 3, 2009


All 70 million or so of the 'baby boomers' had better take heed. Paying interest to the Federal Reserve for the printing and 'loan' of their funny money is more important than Social Security. Eliminate the Fed and there will be enough for all.


US Fed Chairman demands plan to cut social programs
Testifying Wednesday before the Budget Committee of the House of Representatives, Federal Reserve Board Chairman Ben Bernanke demanded that Congress and the Obama administration map out a program of austerity measures to bring down record budget deficits. Bernanke made clear that the heart of this program should be sharp cuts in social spending, including basic entitlement programs such as Social Security and Medicare.

“Maintaining the confidence of the financial markets,” Bernanke said in prepared remarks to the committee, “requires that we, as a nation, begin planning now for the restoration of fiscal balance.”

The phrase “confidence of the financial markets” is a euphemism for the interests of Wall Street and major international banks and investors. In demanding the preparation of austerity measures to be imposed on the American people, Bernanke was speaking in behalf of the financial elite whose massive taxpayer subsidies have been the major cause of the explosive growth over the past year of the federal deficit and the US national debt.

more - Barry Grey at wsws.org


Bernanke before congress on June 3, 2009 - video

Congressional Hearing: State of the U.S. Economy - video



HR1207, the bill to audit the Fed now has 186 co-sponsors but it seems as if traitors in congress want to see that it is gutted and ineffective.
Currently the leadership of the two parties has not addressed this legislation until recently. A Senate audit bill that is unrelated to HR 1207 titled “HC-45” was introduced to audit the Fed and was promptly amended to limit the scope. It appears now that a so-called limited government Republican by the name of Richard Shelby did the watering down of the bill. Apparently he has written into the margins of the bill in pencil “with respect to a single and specific partnership or corporation.” That means that the scope of the GAO’s audit has been severely limited. This modified version of the amendment does not give GAO authority to look at all of the additional taxpayer risk. Why the secrecy congressmen? Senator Charles Grassley conceded to the amendments, and has therefore shown his stripes as willing to compromise the financial security of the United States citizenry for his own political gain. {more}


The bankers and their allies will stop at nothing to prevent the truth about their schemes of theft from coming to light. Bribery and blackmail come first. More hideous tactics will come later if the first two don't work.

2 comments:

  1. With the ratio of debt to GDP already elevated, we will not be able to continue borrowing indefinitely to meet these demands---

    That's right, toss the elderly to the wolves, throw the disabled overboard, we've gotta have all that money to support the private bankers and the royal types that own those banks.

    Gee, just think! If we didn't pay extortion to the Fed, we could save ourselves 500 Billion or more each and every year, since we wouldn't have to pay interest on money loaned to ourselves.

    Bet this planned raid on Social Security and Medicare leads the evening news!!

    ReplyDelete
  2. Meanwhile.. the war in Iraq costs $430 Million per day.

    No money for schools, health care, jobs, etc...

    $430 Million per day in Iraq? No problem.

    End the Fed Now

    ReplyDelete