all 75 comments

[–]no_spoon 21 points22 points  (7 children)

Holy shit. Whatever happened to Alan Grayson?!

[–]kirkisartist 8 points9 points  (6 children)

Harry Reid sicked the lobbyists on him in the primary and spread a smear campaign about him based on his estranged, mentally disturbed ex-wife, that he burned on alimony.

[–]Danny1878 5 points6 points  (5 children)

Disgraceful. Asking too many difficult questions, so needed to make him go away.

[–]kirkisartist 0 points1 point  (4 children)

Greed always wins. Like it or not.

[–]oniondrip 1 point2 points  (3 children)

So what organisation is working agains the lobbyists? These are the guys I wanna join.

[–]T-horredditor for 2 weeks 0 points1 point  (1 child)

It’s not profitable to work against them

[–]oniondrip 0 points1 point  (0 children)

I am not in it for profit. Who are you Mr Banker..?

[–]kirkisartist 0 points1 point  (0 children)

Hate to tell you, but it's exclusively the Bernie Bros.

I'm a libertarian and all, but they believe that since money talks, bribery is speech.

[–]TheSimkin 16 points17 points  (0 children)

Lol, best part "I'm sure they're listed in there... somewhere"

[–]Moixiamredditor for 3 months 28 points29 points  (0 children)

Bitcoin is the answer

[–]P4lani 22 points23 points  (2 children)

Thanks for sharing. This is brilliant. Long BTC.

[–]stormlight 5 points6 points  (1 child)

Actually i would say this is a short bitcoin moment. (Not really as i never short BTC) If such egregious action can happen and 0% of the public cares we will never get to a point were it matters and there is mass adoption. At this point were people worship the kardashians and Mcdonalds it will take a complete collapse for BTC to come to a point where it helps against this.

[–]AnthropomorphicCog 2 points3 points  (0 children)

This is the third iteration of a US central bank. People have cared in the past, struggled, lost, cared again, struggled, lost again and here we are.

[–]ztsmart 21 points22 points  (0 children)

Bitcoin gives me the option to say "nah, fuck this shit"

[–]Bitcoin_21 10 points11 points  (1 child)

If you can print any amount of money and get interest on that, lend lend lend.

[–]BTCkoning 3 points4 points  (0 children)

Yea! Pump those bubbles!

[–]surrealtc 38 points39 points  (7 children)

This is crazy. People just don't revolt over this because they are too busy with entertainment and drugs...

[–]liberty4u2 5 points6 points  (0 children)

they won't revolt until it fails and they can't afford their weed/beer/nascar/etc

[–]IamMeeoh 3 points4 points  (0 children)

exactly. "Panem et circenses", it has always been like this.

[–]plumbforbtc 5 points6 points  (0 children)

They take the poorest victims among us and put them in the welfare system. Now they don't have much, but they have central heat / central air... cable and video games to play (and food to eat of course). Why would they be upset?

[–]GuessWhat_InTheButt 5 points6 points  (1 child)

Drugs can make you aware of a lot of things. Please don't blame drugs for the incompetence of US citizens.

[–]surrealtc 0 points1 point  (0 children)

Drugs are also great to numb you from the present state. Not saying it is the same for everyone, I feel ya. When I talk about drugs, I'm talking mostly about alcohol and sugar (corn syrup) - not eye opening drugs that help people reflect and expand their minds.

[–]letsgetbit 0 points1 point  (1 child)

Everyone’s ignorant to the effects of QE. If money creation was taught and understood maybe things would be better. The FED was created in 1913, was drugs and entertainment their problem too.

[–]surrealtc 1 point2 points  (0 children)

1913 and one year later this was made possible https://en.wikipedia.org/wiki/World_War_I


Its been converted into Yachts & Bugattis

[–]solotronics -3 points-2 points  (4 children)

honestly thats not that bad. tons of people work at the companies that make yachts and bugattis.


Theft is fine as long as you support the luxury sector with your ill gotten gains!

[–]ISGreatestUSAllyredditor for 3 weeks 1 point2 points  (2 children)

Cool if you really believe that you should go to Venezuela or North Korea since those places have truly embraced your idea.

[–]solotronics 3 points4 points  (1 child)

All I was saying is that its better to buy something that is produced vs something that's just collectible such as a painting.

It directly feeds peoples families when you buy a sports car, people make the paint, the wiring, the computers, extract and refine the metal from the ground, engineer the parts, work in factories. When you buy an old painting money just goes from your bank account to some other rich guys account.

If you don't understand that maybe socialism is better for you.

[–]dabears041 1 point2 points  (0 children)

Ok yes. I guess that’s the silver lining in a truly fucked up situation...

[–]cryptohost[S] 4 points5 points  (2 children)

The actual highlight, in my opinion, is this quote: <<As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes>>.
I don't think it was a coincidence.

[–]jaumenuez 1 point2 points  (0 children)

How is not a coincidence? What links them?

[–]BigJim05 0 points1 point  (0 children)

Amazing that Bernanke kept a straight face. But of course he did. Yeah I thought that was the highlight as well. I personally lost a lot of money during that move. I had no idea that all the central banks were coordinating to do this, all at once. Fiat is fiat, and it's all a huge racket.

[–]svayam--bhagavan 2 points3 points  (0 children)

And if a bank even gives you a trillionth of a dollar by mistake, they will hunt you down and take it with interest.

[–]trakatan 3 points4 points  (2 children)

If most of the people could understand what is going on in here, they wouldn't believe it. It's too crazy.

[–]blink123456 3 points4 points  (1 child)

Dumbdumb need help. What’s going on?

[–]trakatan 0 points1 point  (0 children)

A huge ponzi scheme, the biggest scam in the history of mankind.

[–]TheDJFC 7 points8 points  (0 children)

Maybe unpopular opinion here but Bernanke handled that pretty well. The questioner doesn't really know what he's talking about. He's obtuse at best, conflating currency swaps to extension of credit. It's not like the Fed just handed foreigners cash. They swapped USD with major world central banks. Because USD is the reserve currency of the world right now. One day we will do the exact same thing but with BTC instead.

Bitcoin is great, but not because of this.

[–]agareo 2 points3 points  (0 children)

America got euros you dumb idiots. It was a currency swap

Then the European central bank lent out the dollars (to whom? it doesn't matter for the Fed)

[–]Jaeemsuh 3 points4 points  (1 child)

This is like asking whose bitcoin address is 49f9c0x...Common guys.

[–]Utoko 3 points4 points  (0 children)

He ye said a min before were it went. Only the specific names he didn't know.

There is still a big problem here ofc that the FED has the power without any oversight by congress to do that with 500 Billion.

[–]bojurx 4 points5 points  (4 children)

i don't have a dog in the race either way, but god damn. that guy was sweatin it hardcore. that's the nervous twitch and glances of a guilty dude. that is totally ridiculous.

[–]GlassMeccaNow 0 points1 point  (1 child)

i don't have a dog in the race either way

I'd also rather not subsidize the dog track.

[–]Jaeemsuh -1 points0 points  (0 children)

You'd rather save your money and spend it on Alex Jones supplements?

[–]Jaeemsuh 0 points1 point  (1 child)

The way you draw conclusions is incredibly ignorant. I hope you are never called to jury duty.

[–]bojurx 0 points1 point  (0 children)


[–]isableandaking 1 point2 points  (0 children)

It wouldn't matter if it was bitcoin or not, lending and predatory lending between countries will keep on happening. The net positive for large players like the US, China, India, EU (especially western), Russia, Saudi Arabia, etc. is huge - that's why the federal reserve is doing it, that's why nobody is trying to get in their way. The only way to ensure money is used ethically is to allocate it yourself - good luck getting anybody to allow you to allocate where your taxes go.

We might switch to bitcoin for taxes and other cryptos for voting on laws and politicians, but it will take a lot longer for anyone to let us actually steer any country - that's the true power they have.

We already have cryptos that can anonymize to a certain extent the source and destination of funds, it will be out in the open, but the net effect is the same - the money stays unallocated for.

[–]cryptohost[S] 5 points6 points  (6 children)

This is why we need bitcoin. At least we can trace there the money goes.

[–]DarthCoinMaster 7 points8 points  (3 children)

People are too dumb to understand what they are talking about.


People are too dumb to understand what they are talking about.

Not too dumb.

In general, in the usa, people are not taught the fundamentals of this. The financial system in the usa is also set up to be complicated in such a way as to obfuscate the truths of what is really going on.

This is by design.

[–]big_rudy35 1 point2 points  (1 child)

While I agree that we should be taught the fundamentals of how our monetary system works in the usa, I disagree that it is truly as complicated as people make it out to be. The information is out there if we pursue it and absorb it is completely up to us.

[–]BTCkoning 1 point2 points  (0 children)



[–]Utoko 6 points7 points  (0 children)

In this case it is clear were the money went. He explained it even but didn't know all the banks from memory but they were all listed in the document.

So your quote is completely out of context.

It went as credit to central banks from other countries to link the $ to other currencies.

The problem here is the power of the FED that they are able to do that with 500 billion without congress.

[–]crab_hero 0 points1 point  (0 children)

That's not why Bitcoin is important, it's the fixed monetary policy.

[–]zachmoe 0 points1 point  (0 children)

...Talk about FUD....

[–]BTCkoning 0 points1 point  (0 children)

Did they already find it back? LOL

[–]SilencingNarrative 0 points1 point  (0 children)

What is the reason for liquidity swapping between CB's? What problem are they supposed to solve?

[–]bitme123 0 points1 point  (0 children)

1:57 shouldn't somebody call 911?

[–]GlassMeccaNow 0 points1 point  (0 children)

Bernanke trying out for the gold medal in hand-waving.

[–]hyperaddictiv 0 points1 point  (0 children)

what the flying fuck

[–]RogerWilco357 0 points1 point  (0 children)

But orange man bad!

[–]mrj62698 0 points1 point  (0 children)

Fascinating Macrovoices podcast with Jeff Snider on the Eurodollar system that dropped yesterday. The tldr is that there is an offshore USD-based monetary system that the Fed is essentially unaware of and exists outside their regulatory view. And this is the system that seized up in 2008 and where all these Dollars went.

[–]gettinmessi10 0 points1 point  (0 children)

Yah... Bernanke knows exactly where it went. They need to start adding a lie detector to these sessions. Anyone know how old this clip is?

[–]Dr-Slay 0 points1 point  (0 children)

Psychofuck kakistocracy

[–]eqleriq 0 points1 point  (0 children)

I asked Ronald McDonald which people ate the Big Mac and he tried to bypass me by saying "well we send big macs to all of our restaurants... there are many..."

I then calmly repeateed "which people ate the big mac."

he replied "I don't know."


[–]phick 0 points1 point  (0 children)

I was listening to a podcast earlier today about this very thing. The relevant part is between 46-50 minutes.