Doug Casey on Bernanke: Be Afraid, Be Very Afraid
Interviewed by Louis James
L: Before we get to today’s subject, Doug, I thought our readers might like an update on the Wikileaks situation. “Operation Payback” has been targeting corporations that are trying to shut down Wikileaks’ activities. According to a Guardian article, MasterCard’s website has been crippled, PostFinance’s is seriously disrupted, and PayPal’s is under siege. Feminist author Naomi Wolf penned a hilarious blog post, Julian Assange Captured by World’s Dating Police, which has gotten a lot of attention. And of course, in response to the original site being taken down, many mirrors are springing up. For anyone interested in reading Wikileaks, this mirror list will come in handy. This saga is far from over, and I’m sure we’ll be talking about it again.
Now, on to today’s business. Thanks for the link to the “historic” Ben Bernanke interview. It was breathtaking to hear the man who didn’t see the crash of 2008 coming say he’s “100% confident” he can control the U.S. economy. What do you make of that – is it hubris or stupidity?
Doug: As 60 Minutes pointed out, it’s rare for a Fed chairman to give an interview; this was only Bernanke’s second – here’s a link to his first. It’s such an unusual thing that I think it’s a sign that the Powers That Be are really quite worried. As they should be. His last interview was at the height of the crisis in early 2009.
L: Bernanke himself looked worried. I was amazed, actually, watching the interview, by just how nervous and stressed he appeared. He stuttered, his lip quivered continuously, and that pulsing vein on his forehead really stood out throughout the interview. He looked like he was flat-out lying and doubted anyone would believe him, but had no choice but to keep lying. It was almost like a cartoon of a liar caught red-handed. It’s a shocker that the Powers That Be would let such an interview be aired – it would seem to be the opposite of reassuring, to me.
Doug: I know. It’d be nice to run that interview through a voice stress analyzer and see what it says. It’s a question of whether he’s a knave or a fool – neither answer is bullish for the U.S. economy. He’d be wonderful to play poker against…