"bernanke: contradicting soros... volcker..."

"... The wheels of the perception management apparatus are turning at full speed, as evidenced by the audacious spin chief propaganda-meister Bernard “Tokyo Rose” Bernanke put on more bad economic news following another disastrous day in global markets.

He says the recession will end this year.

The utter ridiculousness of such a statement in the face of rising global unemployment, massive monetary inflation, and collapsing banks is testimony to the fact that the self-delusional government and financial industry psychology that incubated and unleashed the present financial catastrophe is alive and well. As long as these arrogant economic narcissists man the helm of our common financial ship, any hope for real solutions and genuine reversal is dim at best.

Why even George Soros and Nouriel Roubini, two other economic media darlings offered direct contradiction to Bernanke’s blather....

It would be more responsible for somebody in Ben Bernanke’s position to admit that the U.S. Dollar is on the verge of collapse, and the only thing keeping the illusion of solvency alive is the increasingly opaque treasury auctions, where anonymous “primary bidders” are increasingly defined as domestic as opposed to foreign. That way, investors would be able to migrate their now over-priced U.S. Dollars into under-priced precious metals so that the rogue wave of impending dollar demise doesn’t sink all the ships left in the harbor that haven’t been foreclosed upon.

But I suspect that’s part of the program Ben is propped up there to support. It’s the behind the scenes mega-investors who need us to believe in a future (not the derivative type) where equities make a quick comeback and life returns to the perpetual growth mindset whereby our routines are punctuated by nothing more severe than the occasional vacation or car accident. That way, they can off-load their U.S. assets in favor of precious metals while the rest of the herd are led to believe in The Great Stimulus whereby we wade trustingly back into equities for a second drubbing like cows at the abattoir..."

Full article by James West at
http://www.kitco.com/ind/West/feb272009.html