Ben Bernanke was interviewed as a guest on 60 Minutes and National Inflation Association counters his lies with the truth about where the economy is really at, and the risk of hyper-inflation.  The Fed has everything backwards...and I personally think it is on purpose and by design to implode the economy for much bigger plans and deceive the people until it is ready to implement the next phase of servitude.

The problem is most people are so busy just trying to survive that they either do not know or do not care about what is going on because they can not do anything about it.  This is precisely what the destruction by design is intended to do.  I am not sure how much longer the people will take it before it turns into some kind of revolution.  We are already serving the debt we can not afford!  Be honest!  Are you doing well?  If you are good...then pay attention....cause the endless summer is about to end.

What are the bigger plans you might ask? And who is responsible for making the plans?  Both are very good and pertinent questions.  The master plan is to remove the USA from economic leadership.  The ones responsible for this are international bankers who are feeding on the bailouts and directing your hard earned tax money to mystery recipients with no accountability or transparency...the truth is beginning to come out now.  But they still continue to suck the life out of YOU the taxpayer...robbing Peter to pay Paul.    When Peter and Paul and You are all up to your eyeballs in debt without a hope of paying it off, unless you are an amazing entrepreneur.

The Great Depression made some amazing business people very rich because they did not give up, sell out, or expect the government to take care of all their needs.

So what kind of CRACK is Ben Bernanke smoking. He is either totally stupid or absolutely and criminally brilliant.  And he is not working for you, the average American.   He is on the other team of corrupt and greedy bankers who are looking to sell you out and enrich themselves beyond the reach of the common people.

It seems obvious, just ask yourself, how is deflation a risk right now?

Are you paying more for groceries?

Is your dollar really going further now than it was before?

Have you noticed the "economic improvement" in your city?  Or are you seeing more and more empty business locations...because people just can't make it anymore?

Are we at great risk of deflation? NOOOOOOOOOO!  We are NOT!

This is a line of crap!  And they are lying to us!  What a crock!

The real risk is HYPER-INFLATION and an imploding currency!

You think it's bad now? Wait until your dollar becomes devalued and is no longer considered the stabilizing international currency which drives business!   We have been living in a fantasy world where even the poor in America live like kings!  You think this can go on forever?  You are kidding yourself!

So why would anyone want to destroy the "honorable" United States of America? The truth is...America stands in the way of international takeover and new world order.  Our pesky dreams of exceptionalism and soveriegnty are the primary and the last remaining vestiges of a once great nation.  We say that America is exceptional...but we live like slothful and lazy retards, without motivation to act in accordance with the exceptional needs of today.

Proverbs 12:24 says:

(King James Version) The hand of the diligent shall bear rule: but the slothful shall be under tribute.

(English Standard Version) The hand of the diligent will rule, while the slothful will be put to forced labor.

The prosperity that we still enjoy is like the leftovers from a once bustling economy.  Well friends...the leftovers are about to go bad...because we left them out on the counter to spoil.

The financial bubbles are EVIDENCE people! Thank God that we still have some time to prepare...not sure how long.  If we put the leftovers back in the fridge...they might keep another few years...but even then someone is going to eat them all up!  We are not producing in the USA at a profitable level.  We are living on borrowed credit, and the lender is starting to get angry!

Vinnie may be coming soon to break our American legs of false prosperity and wake us from the sweet dream of kingly living with our big screen TV's, and cable, and fancy cars.  Snap out of it America!

When food becomes more important than watching the football game...then Americans will start to get the picture. By then it will be too late for most, because Americans rely on the bankrupt system to supply all their needs, food, clothing...etc.  When that system is bankrupt...and you better believe it is on it's way, already at the door, then how will you get food?  How will you create food, gasoline, electricity, natural gas, and all the services that run on these resources?  Will it just appear out of thin air!

The majority of Americans are not self-sufficient. They do not understand how to grow food out of the ground...nor do they care, and they will not care until it is too late....because they are spoiled brats, who expect the world to serve up their dinner on a silver platter, while they watch sports on TV and bet on fantasy football.  What a joke we have become....and we should be ashamed!  I am disgusted and desperate!

The only good thing about this disaster, is we are making a slow descent into poverty.  This gives those who care to open their eyes, some time to do something about it!  Those who are entrepreneurs are making efforts to pull together some sort of profitable business, and their motivation is to do so is "watching the hourglass" drain away the time we have left!

At the very minimum you should get some food while you can still afford it. Learn to store food.  Learn the art of canning your food and how to safely store it for the long economic winter that is coming.

Learn to be self-sufficient again!  If you have money now, for goodness sake, help out those who are prepper minded!  Learn from them and support their efforts!

It is probably already too late for us to reverse the trend we are in, which is leading us to poverty and financial ruin.  But it is not too late for YOU to take INDIVIDUAL ACTION!  This is about you people.  Wake up before it's too late and you become the casualty of economic disaster!

DAG YO!  GET A CLUE!  YOUR FAMILY AND SURVIVAL ARE ON THE LINE! AND TIME IS RUNNING OUT!

The Strong Watchman

Original Article at: http://inflation.us/bernanke60minutes.html

NIA Addresses Bernanke's '60 Minutes' Interview

Federal Reserve Chairman Ben Bernanke was a guest on '60 Minutes' this evening and the National Inflation Association felt it was important to address Bernanke's comments.

Bernanke claims to be concerned primarily about two things: unemployment and deflation. Bernanke says between the economic peak and the end of last year, 8.5 million jobs in America were lost with only 1 million jobs being regained since then. He says it could take 4 to 5 years for the U.S. to get back to a "more normal unemployment rate of 5% or 6%".

The truth is, real unemployment in the U.S. today once you account for everybody who has given up looking for work as well as everybody who is underemployed, is already about 22%. NIA believes it is more likely that in 4 to 5 years from now, U.S. unemployment will rise to Great Depression levels. Bernanke's policy of printing money and creating inflation will not create jobs because the money the Fed creates is going to fund non-productive and wasteful U.S. government spending. The only jobs being created are artificial government jobs.

U.S. government spending is up 108% from 10 years ago. We have a U.S. government spending bubble that will eventually go bust by the U.S. dollar becoming worthless and the U.S. government no longer being able to meet its obligations. Bernanke says we should only be concerned about the long-term deficit because in "10, 15, or 20 years from now the entire budget will be spent on Medicare, Medicaid, Social Security, and interest payments on the debt" and "there will be no money left for the military or other services the government provides".

The truth is, the U.S. currently has a budget deficit from just Medicare, Medicaid, and Social Security alone and even if the U.S. got rid of all government spending besides Medicare, Medicaid, and Social Security, it wouldn't be enough to balance the budget (including changes in our unfunded liabilities). Countries usually see hyperinflation of their currencies once interest payments on their national debt reach about 50% of tax receipts, and the U.S. is at risk of seeing interest payments on its debt reach 50% of tax receipts in the middle of this decade. In other words, the U.S. should be concerned about surviving these next 5 years, before it worries about surviving the next 10, 15, or 20 years.

According to Bernanke, inflation is "very very low" and this is a major concern to him because we are very close to falling prices or deflation, which he says would lead to falling wages. Bernanke believes that with his $600 billion in "quantitative easing", the risk of deflation is now "pretty low" but if he didn't act, deflation would be a more serious concern.

The truth is, gold is the best gauge of inflation, not the government's phony CPI numbers. Gold is above $1,400 per ounce and near a new all time high. If deflation was as serious of a risk as Bernanke says, we would be seeing falling gold prices. Bernanke's quantitative easing has now made deflation absolutely impossible and Americans need to be concerned about the risk of massive inflation and perhaps hyperinflation. If we saw deflation, it would actually be a good thing because the savings and incomes of middle-class Americans would be worth more and prices for food and energy will become cheaper.

Bernanke says that those who look at the $600 billion in quantitative easing as being inflationary are "not looking at the risks of not acting". He says the Fed has "very carefully analyzed inflation every which way" and that fears of inflation are "way overstated". Bernanke claims it is a "myth" that the Fed is "printing money" because the "money in circulation is not changing in any significant way".

The truth is, the Fed's M2 money supply has risen by $44.9 billion to $8.8092 trillion over the past month. If you annualize this increase, we are talking about a 6.1% increase in the M2 money supply. All Americans who shop for food, gas, or clothes, realize that the U.S. currently has around 6% price inflation and the CPI's 1.17% rate way understates inflation. The U.S. Bureau of Labor Statistics uses geometric weighting and hedonics to understate inflation. The government's CPI simply cannot be relied upon.

Bernanke admitted in his 60 Minutes interview that he did not see the panic of 2008 coming. His excuse was that the Fed didn't have oversight of AIG or Lehman Brothers, and if the Fed had more powers they would have seen the crisis coming.

The truth is, there are many Austrian economists, including those who co-founded and are associated with NIA, who did see the panic of 2008 coming. Every Austrian economist who predicted the panic of 2008, now believes that massive inflation is in our future. It doesn't make sense for Americans to trust Bernanke about inflation when he was wrong about the housing bubble and just about everything else.

Bernanke went on to say that the reason the U.S. has the largest income disparity gap out of any country in the world is because of "educational differences". Bernanke claims that unemployment for Americans with college degrees is only 5%, compared to 10% unemployment for Americans with just a high school education.

The truth is, the reason for our income disparity gap is inflation. When the Fed prints money, it steals from the incomes and savings of the poor and middle-class and transfers this wealth to those on Wall Street who have access to the Fed's cheap and easy money. It has nothing to do with education. In fact, because of Bernanke making it so easy for college students to get student loans, the U.S. has a college tuition inflation crisis.

College tuitions now cost 60% of the median U.S. income, triple the rate of 20% which held strong from 1950 to 1980. Americans today who have college degrees are now worst off, because they are deeply into debt. The only reason their rate of unemployment is lower than those without college degrees is because those with college degrees are more determined to find jobs. If you ask any college graduate who has a job if their college degree helped them become employed, NIA believes the overwhelming majority of college graduates will tell you no.

Bernanke says that he is "trying to achieve balance" and "will not allow inflation to rise above 2%". He says the Fed can "raise interest rates in 15 minutes if we have to" and the Fed will have "no problem raising rates, tightening monetary policy, and reducing inflation when the time is appropriate".

NIA believes the time is appropriate to raise interest rates now. The real rate of inflation is already a lot higher than 2% and if Bernanke waits for the U.S. to be in an all out currency crisis, it will be impossible to contain inflation. The U.S. will have a major inflationary problem with rising precious metals, food, energy, and clothing prices, until the Federal Reserve raises interest rates to a level that is higher than the real rate of price inflation. If the Fed waits for real price inflation in the U.S. to be in the double-digits, it means we will need to see double-digit interest rates, which will send our interest payments on the national debt to over $1 trillion per year.

Bernanke says that all the Fed's quantitative easing is doing is, "lowering interest rates", but in fact, yields on the 10-year bond are now 2.97%, a new four-month high. NIA believes it is likely that bond yields will continue to rise dramatically in the months ahead, with 10-year bond yields likely to rise above 4% in the first half of 2011. The Fed's goal of keeping interest rates low is obviously failing. The bond bubble is getting ready to burst, which will collapse the U.S. government debt bubble with it.

Americans simply cannot trust Bernanke, who has continuously lied to the American public and been wrong about everything. All Americans need to realize that the real economic crisis is still ahead and it will come as a result of Bernanke's dangerous and destructive actions. Americans need to be preparing now for hyperinflation if they want to survive, because the U.S. government will soon no longer be able to provide for them.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us