The Great QE Taper Caper

Let’s do a little flashback this week and then look at some things and try to make some sense of what happened yesterday as the Great Taper Caper unfolds. We go back to March 3rd, 2009. Ben Bernanke was in front of Congress. He was allegedly under oath. He was asked directly by Senator Bernie Sanders this important question: “Will you tell the American people to whom you lent $2.2 trillion of their dollars?” Bernanke gave a one-word answer – “No”.
There are a couple of problems with all this obviously, but let’s get the more subtle ones first. This is yet another golden opportunity to point out who really runs the show from a monetary perspective. Those ‘dollars’ aren’t even dollars. That is the first problem. They are ‘not-so-USFed’ notes. They are debt. They don’t belong to the people, rather they hang like a millstone around the collective neck of We the People. Second problem, why was Bernanke allowed to leave that hearing without being charged, at a minimum with obstruction? Because the banksters run the show, that’s why. Those hearings everyone pays such rapt attention to are theater.

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