While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Benjamin S. “Helicopter Ben” Bernanke, Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, in a private meeting with members of the senate banking committee says that the recovery from the Great Recession has begun, but it will be a “jobless recovery.”

       Question: Is Bernanke trying to say that the nation will be entering a period of stagflation, where the economy remains stagnant,  enough that unemployment remains high but heats up with inflation?

       [added 12/18/2021] Thanks to Freedom’s Phoenix for this entry.

       Democratic (socialist/fascist) CONgressman Alan Grayson, of the confederate state of florida, asks Benjamin S. “Helicopter Ben” Bernanke, Chairman which foreign banks were the beneficiaries of the FRSB’s 500,000,000,000 “dollar” credit swaps.  To which Bernanke replies, “I don’t know.”

Grayson then informs Bernanke that 9,000,000,000 “dollars” went to commercial banks in New Zealand.  Bernanke says the transfer is legal under section 14 of the Federal Reserve Act of 1913.  Grayson then reads Article I, Section 9 [Clause 7], “No money shall be drawn from the treasury but in consequence of appropriations made by law; and a regular statement and account of the receipts and expenditures of all public money shall be published from time to time,” and asks, “Do you think it’s in the spirit of the Constitution for a group like the F[ederal] O[pen] M[arket] C[ommittee] to hand out a half a trillion dollars to foreigners without any action by this Congress?”  Bernanke’s answer is that Congress authorized it when it passed the FRA of 1913.

       Grayson next points out that the entire Gross National Product in 1913 was well below what the FRSBs has given; also that loaning money to foreign banks was unprecedented for the FRSB, before the Great Recession began.

       [added 12/18/2021] Thanks to Freedom’s Phoenix for this entry.

       Neil Brodsky, Special  Inspector General of the Troubled (worth less) Asset Relief Program, in testimony to the house committee on oversight and government reform states that the department of the treasury has refused to implement his suggestions for greater transparency in the TARP.  As a result, little is known about how commercial banks are using the funds, other than acquiring other commercial banks.  TARP was intended to facilitate consumer lending, but that is not what they are doing.  Brodsky also informs the committee that U.s. subject/enemy/citizens are on the hook for 23,700,000,000,000 “dollars,” — twice the amount of the nation’s annual Gross National Product — and 33 times the 700,000,000,000 “dollars” that had originally been authorized under TARP; and that has opened 35 separate criminal investigations for fraud, and he sure that there is probably more —  if he could find it.

       [added 12/18/2021] Thanks to Freedom’s Phoenix for this entry.