Alan Grayson on the half a trillion dollar question

Stacy Summary: Interesting post from Congressman Grayson on his questions to Bernanke. I know this has been a big topic of discussion here so thought I would share this . . . . what are you thoughts?

52 comments on “Alan Grayson on the half a trillion dollar question
  1. eric v says:

    you linked to the tin-foil hat lady..

  2. Danny says:

    Just watched the movie ‘The International’ – about somes up where we are as a society.

  3. Mr Supergeek says:

    The couyple of times I’ve seen him….I really liked this guy….it’s his relaxed manner and that smile…kinda has the effect of making you feel he’s not really paying attention then bam….he comes out with a great question…and you realise he is dead on it.

  4. stacyherbert says:

    @eric v – thanks! oops . . . well good opportunity to look at tin foil lady again ;)

    @Mr. Supergeek – I agree; he’s like a super trial lawyer

    @Danny – yes, but the International is much watered down version of the real story upon which it appears to have been based:

    http://en.wikipedia.org/wiki/Bank_of_Credit_and_Commerce_International

  5. Danny says:

    @stacy

    Edge Tv– its called Controversial Tv here in ireland– is on channel 200 if you’vea sky box, they show some good stuff but also some ‘kooky’ stuff.

    Mike Ruppert has a blog at http://www.mikeruppert.blogspot.com
    Always has some great headlines.

    I dunno what to believe anymore – it really is the age of disinformation and double spreak as Orwell said it would be. Once, just once I would love to visit that warehouse at the end of Raiders of the Lost Ark! lol!

  6. doomandbloom says:

    Can you believe how MSM reports this grilling of Ben Bernake?

    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayPLwbxVpPfY

    the reporter is definitely on the payroll of the fed.

  7. Youri Carma says:

    James Dyson Design Awards: An ultrasound tool set designed to quickly measure the commercial worth of forests http://bit.ly/BexIx

  8. Dan says:

    The most telling remarks from Grayson: “$500,000,000,000 is ten times the size of the entire State Department budget. Publicly elected lawmakers proposed and debated over 100 amendments to the much-smaller State department budget.”

    That’s it in a nutshell. It’s the continuing saga of ordinary citizens having lost any real representation and influence on our destiny. Even if our elected ‘leaders’ acted on our behalf, and they don’t, the power of the Fed allows an end run around our interests. You can be quite certain that if a conflict of interest arises between the Fed’s interests and the American citizen’s interests, we will lose every time.

    This was the truth Grayson was attempting to dig out.

  9. Mr Supergeek says:

    Yeah i saw the International a few months back and I thought it was a shame…Bit of a missed oppurtunity, It wasn’t bad but I expected more…Shame a good actor like Clive Owen as well.

  10. Youri Carma says:

    After Medarex buy, biotech investors ask who’s next http://link.reuters.com/myj39c

  11. Dan says:

    A quarter of a trillion in Treasuries to be auctioned off next week!

    http://market-ticker.denninger.net/archives/1256-HOLY-!!!-Treasury-Auction-Schedule.html

    I wonder . . . is it possible any of that $500,000,000 Ben handed out is about to be re-circulated?

  12. Dan says:

    LOL. You should make editing comments possible.

    The orginal link was correct. For some reason a portion was not included. I’ll try again. If it doesn’t work, just copy and paste.

    http://market-ticker.denninger.net/archives/1256-HOLY-!!!-Treasury-Auction-Schedule.html

  13. dan valley says:

    Greyson knows how to open and close…..he is able to make bernake sweat where as ron paul is toooooo preachy he needs to get them to admit and look foolish then come back with how to fix it….instead he just comes off like a preachy money crank with laughable notions and all bernake has to say is… well congressman i dont see it that way…….to every question.

  14. dan valley says:

    also…..alot of dans on this site

  15. Youri Carma says:

    @! Dan

    Yep, cannot put in “Hyperlink”, that”s ashame.

    Could use: http://tinyurl.com/ to make such link work after all.

    HOLY !@#!! Treasury Auction Schedule http://tinyurl.com/nn9mny

  16. Youri Carma says:

    These people are so shameless: JPMorgan Said to Increase Some Investment Banker Salaries Starting in 2010 http://tinyurl.com/ltzrnf

  17. smallz says:

    3:05 Grayson: “…Well look at the next page. The very next page has the US dollar nominal exchange rate which shows a 20% increase in US Dollar nominal exchange rate at EXACTLY the same time that YOU where handing out half a Trillion dollars to forigners. Do you think that’s a coincidence?

    Bernake: Yes.

    (((shaking my head)))

    @ Max Keiser: In your opinion, is the question raised by Grayson mean to reveal that The Fed artificially increased the “rate of exchange” by 20% intentionally to “make” and/or “generate” more “money” or “purchasing power” as a result of the currency exchange?

  18. Mr Supergeek says:

    @All Y’all
    For anyone who’s interested anutha free tune….
    1972….E Pluribus Unum.

    https://cid-8ede9197aad998e3.skydrive.live.com/self.aspx/Public/The%20Last%20Poets%20-%20E%20Pluribus%20Unum.mp3

  19. Youri Carma says:

    “City Indian” Aproved Rap http://tinyurl.com/mc7zaw

  20. Youri Carma says:

    Tribune Co seeks court OK to pay execs bonuses http://link.reuters.com/peb39c

  21. anything but green says:

    @ Daniel S

    “What “transparent gatekeeper” would publicly challenge ….”

    THINK about.

    Hope this is not redundant:

    http://www.the7thfire.com/Politics%20and%20History/peak_oil/peak_oil_is_a_known_fraud.htm

    http://www.davesweb.cnchost.com/nwsltr83.html

    http://www.davesweb.cnchost.com/nwsltr84.html

    MR — John Gray — Adnan Khashoggi

  22. snoop diddy says:

    Abandoned USDollar & Paradigm Shift
    http://news.goldseek.com/GoldenJackass/1248379200.php

  23. anything but green says:

    @ Daniel S

    To answer your question about what kind of gatekeeper…

    The standard kind. THINK about it. And look very carefully at a few of them.

    Am having difficulty in posting, so shall give links in dribs and drabs. Some will be redundant but most folks never look at them so it can’t hurt.

    http://www.the7thfire.com/Politics%20and%20History/peak_oil/peak_oil_is_a_known_fraud.htm

  24. frances snoot says:

    http://blog.newsweek.com/blogs/wealthofnations/archive/2009/07/21/the-end-of-the-dollar.aspx
    “Well, the IMF is now on the verge of taking a big leap towards this new system, with a proposal to increase the supply of these SDRs (which are basically just a bundle of several currencies including the dollar, yen, sterling, and the euro) by eightfold. The IMF will vote on the measure on August 7th and would start issuing the new currency by the end of the month.”

    Looks like the writing is on the wall. What about buying silver?

  25. http://www.youtube.com/watch?v=4Rsnqb4zUjY

    Ron Paul to Bernanke “You all caused this…”

  26. Daniel S says:

    Since China trades Fiat goods for Fiat US dollars, these foreign countries should borrow a page from China’s book and pay the interest on this 500,000,000,000 with Fiat goods, instead of propping up the US dollar and the war crimes that go with it. For example, New Zealand could pay in lamb that is somehow unfit to eat or not really lamb. Either that or pay in neopoints.

    BTW any ideas on how we could provide fiat labor? I wanna get paid for only declaring that what I did today had value. Perhaps preoccupation fees. As in, I’m so crazy I should get paid for wasting my time so I don’t apply myself to any crazy ideas. Consider the alternative. Where have we heard that before?

  27. Daniel S says:

    @ anything but green,

    Make an actual argument.

    Don’t tell me to form your argument for you and don’t ask me to read more garbage you Googled.

    Make your own argument that supports your own baseless statements.

    And “look very carefully” at your sources. They’re garbage.

  28. snoop diddy says:

    An article on bot trading worth reading:
    http://www.nytimes.com/2009/07/24/business/24trading.html?_r=1&src=twt&twt=nytimes
    Traders Profit With Computers Set at High Speed
    “…While markets are supposed to ensure transparency by showing orders to everyone simultaneously, a loophole in regulations allows marketplaces like Nasdaq to show traders some orders ahead of everyone else in exchange for a fee…”

    the article seems to run on the basis the markets are otherwise fair etc. but worth the read for background info.

  29. snoop diddy says:

    Daniel S,
    re: fiat labour.

    Become a bankster. :-)

  30. snoop diddy says:

    Apart from the recent vids I don’t know much about Grayson, but where were some of these Repubs when all this chicanery was going on and their W was in office?

  31. Sirial says:

    Even under economic pressure there is no justice to be expected for this gift of nature.

    http://www.fresnobee.com/832/story/1553061.html

  32. Mini US says:

    Nice quote towards the end of this article.
    “We should look at Goldman Sachs as a positive symbol.”

    http://www.businessday.com.au/business/return-of-wall-street-gravy-train-sparks-concern-20090724-dvkg.html

  33. snoop diddy says:

    @MiniUS,
    the history and economic textbooks are being dictated as we speak.

  34. Mini US says:

    @Max or anyone.
    How easy will it be to sell actual gold held when the price is $2,000 and the world economy is down in the dumps. Will there be many buyers?
    Just wondering about the back end of the transaction in order to realise a profit. Not saying its not a good idea but unsure about the exit strategy. I guess you sell while the latecomers are still buying, whenever that may be.

  35. Mini US says:

    These big banks are worried about losing their talent, so have to pay huge bonus’.
    Talent?
    Mmmmmm it must take talent to lose sooooooooo much money while driving you beamer AND using a mobile phone in your pink shirt.
    Please……!

  36. Mep says:

    Snoop,

    Grayson is brand new–was elected in November–and he is a Democrat.

  37. snoop diddy says:

    @MiniUS,
    yeah. that’s to be one of the biggest crocks going around.

  38. snoop diddy says:

    @Mep,
    oops, shows I was paying attention hey.
    thanks for the clarification.

  39. Youri Carma says:

    I think this Arnold Schwarzenegger Knive is more a case of … (Watch Vid) LOL http://tinyurl.com/nrzgrm

  40. snoop diddy says:

    Are they trying to desensitise us to the term quadrillion now in preparation for hyperinflation? ;-)

    Visa computer error leads to $23 quadrillion overdraft
    http://www.pcauthority.com.au/News/150266,visa-computer-error-leads-to-23-quadrillion-overdraft.aspx

  41. Youri Carma says:

    Australia, Brazil, India, South Africa and Ukraine accounted for 90% of China June iron ore imports http://tinyurl.com/mue93n

  42. Mep says:

    Snoop,

    No prob.

    Stacy,

    I don’t know what to say other than I’m a little surprised at Bernacke’s supposed ignorance of the Federal Reserve’s constitutional reach.

  43. joe says:

    what are your thoughts on the following?

    NZ needs USD. Goes to buy on open market. Would raise value of $.

    At same time, GS is long oil, busy putting SemGroup out of business. (are my dates correct?)

    Very convenient that the Fed stepped in to keep the USD weak as GS was long oil forcing someone out of business right?

    Or just another amazing coincidence?

  44. 13blackcats says:

    The freshman Congressman has voted Y on every bill with the exception of the 2009 Supplemental Appropriations Bill. So although I’m encouraged by Alan Grayson’s (D) adversarial style during these Bernanke lying sessions for him to draw attention to the Fed, the representative from Florida doesn’t impress on me any improvement over the same-same.

    You are no Max Keiser, sir! Nevertheless you are the only Dem more watchable than the tin-foil hat lady.

  45. Mep says:

    Some US unemployment headlines:

    -Jobless check for millions delayed as states struggle:
    http://tinyurl.com/lqz9o3

    – Claims drop as jobless exhaust state benefits:
    http://online.wsj.com/article/SB124839374132077631.html#mod=rss_whats_news_us

  46. Youri Carma says:

    U.S. has bought 195 million doses of H1N1 vaccine http://link.reuters.com/hem39c

  47. Youri Carma says:

    @snoop diddy

    Good stuff cause it’s good to see this subject back again in the MSM at least. A week later everybody will have forgotten about it if more schocking news will replace it.

    Traders Profit With Computers Set at High Speed http://tinyurl.com/kvj8nw

  48. Dan says:

    What does it matter if its a central bank or a commercial one the central banks of each country are collectively owned by the commercial ones.

    So hes just say yeah we just now and then leach half a trillion from the wealth of people within country’s and dish it out to a elitist friends in the commercial banks… What!? its ok we do this all the time its just standard practice…

  49. kitty says:

    One post of youtube went…

    “I think it was a trial run for “harmonizing” our currency in preparation for a global currency backing system. ”

    Any thoughts?

    Grayson’s biog is interesting. He’s been a ‘super lawyer’ it seems. Should we think Gregory Peck or Spencer Tracy? What sort of lawyer trick turning up in a Dollar Tie?

  50. Daniel S says:

    Don’t know if you guys are aware of this but there’s a youtube vid of Rep Michele Bachmann referring to Obama’s government as a “gangster government” on June 10th this year.

    “The American people need to get outraged and figure out that it could be them next. No business is safe.”

    http://www.youtube.com/watch?v=cjwEBrAWMu4

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