Posted by: John Gilmore | September 16, 2006

Bernanke Outlines Steps to Avoid Future Crises

I mentioned in an earlier post that we can get a very good idea of what is being planned by the global elite by paying close attention to articles within mainstream media outlets. The article below is a great example of this – you and I are being told in this article who will oversee (regulate) – and control – the future global financial system.
First of all – we should pay close attention to the audience for Bernanke’s speech. Who was the audience? The Council on Foreign Relations. If you research the CFR – you’ll notice that the goal of this organization is a worldwide global government (search for the CFR and David Rockefeller if you want to know more about their motives). I have links to a couple of videos on the CFR on my website. The CFR has infiltrated mainstream media and has been planning for global government for decades – so it should be no surprise that Bernanke would address this group. What is surprising to me is that they would be so bold as to broadcast this. Again, you and I are dealing with some very arrogant people. They think that you and I have no idea what’s going on – and unfortunately, for the vast majority of the world’s people – they are correct.
Let’s take a look at the comments by Federal Reserve Chairman Ben Bernanke in the article below.
“The responsibility to use the resulting capital inflows effectively fell primarily on the receiving countries, particularly the United States,” Mr. Bernanke said. The “failure” of the U.S. and other big economies to do so “has led to a powerful reversal in investor sentiment and a seizing up of credit markets,” he said.
Bernanke is telling us that current credit market problems have been caused by the inability of the U.S. (and other large economies) to manage capital inflows. Is this really what has caused the current global financial crisis? No. As you now know, the current crisis is a direct result of the world’s debt based monetary system – not a result of the management of ‘capital inflows’. Bernanke obviously knows this – he’s using financial language to confuse the lies. What is telling here – is that he never defines ‘effective’ use of capital inflows. No details – just a general statement criticizing our government – that tells us absolutely nothing.
“In the near term, governments around the world must continue to take forceful and, when appropriate, coordinated actions to restore financial market functioning and the flow of credit,” Mr. Bernanke said. In the U.S., officials are determined “to ensure that systemically important financial institutions continue to be able to meet their commitments,” Mr. Bernanke said.
“Until we stabilize the financial system, a sustainable economic recovery will remain out of reach,” he said.
The statement above is a common message we’re hearing a lot lately from global leaders – government stimulus is required to ‘restore’ financial markets and the flow of debt (everyone likes to use the term ‘credit’ because it sounds better than ‘debt’ – but if you’re borrowing money – it’s debt we’re talking about). Can we (U.S.) restore financial/credit markets by borrowing trillions of dollars for government ‘stimulus’ packages? Of course not. We can’t borrow our way out of this mess. Until our monetary system changes – governments of the world can continue their ‘determined’ efforts to support the financial system all they want – it will eventually end with not only the failure of the financial institutions – but will also bring down the governments themselves.
The last sentence above is the most telling. Can we stabilize the financial system? No – we cannot stabilize the financial system under the current monetary system. We’ve reached the end of the line. We can no longer create the amount of debt required to keep the system functioning – it’s going to fail. So – what does this last sentence above tell us? Bernanke is telling us that we will never achieve ‘a sustainable economic recovery’ under this system. Since we’re never going to achieve economic recovery under the current system – what needs to happen? We’ll need a new ‘system’. Take note of his next comments.
“But even as Mr. Bernanke and others focus on stabilizing markets in the short term, he signaled it isn’t too early to consider longer-term reforms including — in the U.S. — putting responsibility for addressing possible systemic risks with one authority, such as the Fed.
He outlined four steps related to: systemically important and interconnected firms; financial infrastructure; regulation; and addressing systemic risks under one authority.”
Bernanke is recommending that ‘one authority’ should be in charge of addressing systemic risks. Who is he recommending to be this ‘one authority’? The Federal Reserve. Again – who is the Federal Reserve? It is a cartel of private international bankers. Bernanke is telling us that a group of private bankers – not our government – should oversee and regulate the entire financial system. This is your future – a world governed by a ruling elite that controls every aspect of the world’s financial system. They are now telling you this on almost a daily basis. What does the Bible tell us about the end of this age? A deceptive, ruling organization will control a world government and world financial system. The world stands on the edge of the abyss – and few can see the signs – just as the Bible tells us. If there is one, overriding warning we are given in the Bible concerning our times – it is a warning against deception. We are not heeding the warning.
If the quotes above were not enough, Bernanke finishes his speech by reiterating the message.
As for placing responsibility for overall systemic risk with one authority, Mr. Bernanke noted that “some commentators have proposed that the Federal Reserve take on the role of systemic risk authority” while “others have expressed concern that adding this responsibility would overburden the central bank.”
Whether the Fed’s right for the job depends on how Congress defines the role of the new authority, Mr. Bernanke said.
“As a practical matter, however, effectively identifying and addressing systemic risks would seem to require the involvement of the Federal Reserve in some capacity, even if not in the lead role,” he said.
You and I are being prepared for the complete takeover of the world’s financial system by an international cartel of private bankers. They currently run the world’s banking system – and they’re crashing it – in preparation for the next step in the plan. These same people have also infiltrated the world’s governments – so don’t expect our current leaders to offer much resistance. It will take true leaders with honor and courage to overcome this.
jg – March 10, 2009
__________________________________
MARCH 10, 2009, 9:04 A.M. ET
Bernanke Outlines Steps to Avoid Future Crises

Wall St. Journal
By BRIAN BLACKSTONE
WASHINGTON — U.S. Federal Reserve Chairman Ben Bernanke on Tuesday outlined steps he thinks would help avert future financial crises, saying the time for such a longer-term discussion has come even as policy makers address the worst crisis since the 1930s.
In remarks to the Council on Foreign Relations, Mr. Bernanke also issued a mea culpa of sorts for the current global financial crisis on behalf of the U.S. and some other big economies that failed to “prudently” invest the rush of capital inflows that started more than a decade ago.
“The responsibility to use the resulting capital inflows effectively fell primarily on the receiving countries, particularly the United States,” Mr. Bernanke said. The “failure” of the U.S. and other big economies to do so “has led to a powerful reversal in investor sentiment and a seizing up of credit markets,” he said.
“In the near term, governments around the world must continue to take forceful and, when appropriate, coordinated actions to restore financial market functioning and the flow of credit,” Mr. Bernanke said. In the U.S., officials are determined “to ensure that systemically important financial institutions continue to be able to meet their commitments,” Mr. Bernanke said.
“Until we stabilize the financial system, a sustainable economic recovery will remain out of reach,” he said.
But even as Mr. Bernanke and others focus on stabilizing markets in the short term, he signaled it isn’t too early to consider longer-term reforms including — in the U.S. — putting responsibility for addressing possible systemic risks with one authority, such as the Fed.
He outlined four steps related to: systemically important and interconnected firms; financial infrastructure; regulation; and addressing systemic risks under one authority.
Referring to big interconnected firms, known as “too big to fail,” Mr. Bernanke said “any firm whose failure would pose a systemic risk must receive especially close supervisory oversight of its risk-taking, risk management, and financial condition, and be held to high capital and liquidity standards.”
Mr. Bernanke also suggested ways to address the “potential fragility” of money-market mutual funds. “One approach would be to impose tighter restrictions on the instruments in which money market mutual funds can invest, potentially requiring shorter maturities and increased liquidity,” Mr. Bernanke said.
“A second approach would be to develop a limited system of insurance for money-market mutual funds that seek to maintain a stable net asset value,” he said.
Officials should also consider changes to deposit-insurance funding, Mr. Bernanke said, such as raising reserve ratios in good times to create a buffer that can be drawn on in down times.
As for placing responsibility for overall systemic risk with one authority, Mr. Bernanke noted that “some commentators have proposed that the Federal Reserve take on the role of systemic risk authority” while “others have expressed concern that adding this responsibility would overburden the central bank.”
Whether the Fed’s right for the job depends on how Congress defines the role of the new authority, Mr. Bernanke said.
“As a practical matter, however, effectively identifying and addressing systemic risks would seem to require the involvement of the Federal Reserve in some capacity, even if not in the lead role,” he said.
Write to Brian Blackstone at brian.blackstone@dowjones.com

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