Video: Bernanke Comments On Oil & Commodity Inflation: "Not Much Fed Can Do About Gas Prices, Per Se"

This is the first clip of Bernanke's speech that's been posted on Youtube.

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Comments

[LiberatedCitizen]

US Banks Warn Obama on Soaring Debt WHAT A Bull Shit TITLE THAT IS THE BANKS AREN'T WARNING ZERO THEY ARE AIDING ZERO THEY WANT THE DEBT LIMIT INCREASED!

"A group of the largest US banks and fund managers stepped up the pressure on Congress and the Obama administration to reach a deal to increase the country’s debt limit," more BULLSHIT AT

http://www.cnbc.com/id/42775820

How Wall Street Thieves, Led by Goldman Sachs, Took Down the Global Economy -- Their Outsized Influence Must be Stopped

http://www.alternet.org/economy/150741/how_wall_street_thieves%2C_led_by_goldman_sachs%2C_took_down_the_global_economy_--_their_outsized_influence_must_be_stopped/

Gold hits record as inflation fears remain

http://www.ft.com/cms/s/0/4906edc4-6fb1-11e0-952c-00144feabdc0.html#axzz1Km7IqGeZ

[LiberatedCitizen]

Wal-Mart: Our shoppers are 'running out of money' )

http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm?source=cnn_bin&hpt=Sbin

[Canuck]

Russia, the world's number one oil producer, just decided not to export any gasoline in the month of May, according to Ria Novosti.

The move will halt all gasoline exports from the country for at least one month, according to Energy Minister Sergei Kudryasho. It is a response to fuel shortages throughout Russia, with Siberia the hardest hit.

http://www.businessinsider.com/russia-oil-exports-2011-4#ixzz1KoxeaMnl

[john]

Canuck, China did the same thing... I will re-post this if you missed it.

US permits oil deals with Libyan opposition

http://www.irishtimes.com/newspaper/breaking/2011/0427/breaking62.html

[snip]

The United States voiced confidence in Libya's main opposition council today as the US Treasury moved to permit oil deals with the group - a potential financial lifeline for the anti-Gaddafi uprising.

US ambassador to Libya Gene Cretz said deepening contacts with the Benghazi-based Transitional National Council (TNC) showed it was "a political body which is worthy of our support" although not yet full diplomatic recognition.

[Canuck]

Thank you John, yes I've seen that about China. I'm thinking Libya might (and might not) be the fuse to light a WWIII. China was heavily invested in Libya and can't be happy at all the US is cherry picking another mid-East country.

Then this on fuel shortages...

Police were called after a petrol station near Stuttgart began charging €9.99 per litre ($40 per gallon) of super gasoline amid dwindling supplies on Easter Monday.

http://www.thelocal.de/national/20110426-34621.html

Gas stations setting fuel prices to $40/gallon because they don't want to sell!!!

[john]

Libya: It’s Not About Oil, It’s About Currency and Loans

http://www.blacklistednews.com/Libya%3A_It%E2%80%99s_Not_About_Oil%2C_It%E2%80%99s_About_Currency_and_Loans_/13692/0/0/0/Y/M.html

[snip]

According to the IMF, Libya’s Central Bank is 100% state owned. The IMF estimates that the bank has nearly 144 tons of gold in its vaults. It is significant that in the months running up to the UN resolution that allowed the US and its allies to send troops into Libya, Muammar al-Qaddafi was openly advocating the creation of a new currency that would rival the dollar and the euro. In fact, he called upon African and Muslim nations to join an alliance that would make this new currency, the gold dinar, their primary form of money and foreign exchange. They would sell oil and other resources to the US and the rest of the world only for gold dinars.

[S. Gompers]

Obviously the falling dollar has nothing to do with rising prices.

I want to live in Ben's world for a week or two...

[john]

Gomp, ever hear of something called auto-rotation (helicopters)...

http://www.fxstreet.com/rates-charts/usdollar-index/

Ben can't flap his arms fast enough.

[Canuck]

I hear ben is looking into tornadoes as a distribution vehicle, sorry Alabama...

[S. Gompers]

Yes I have John, but I think ole Ben is doing a fine job flapping those lips for a safe landing. But the rest of us are still screwed when he hits the ground.

[john]

Geithner: US aims to keep currency strong

http://news.xinhuanet.com/english2010/video/2011-04/28/c_13850325.htm

Story with video of Tim making that statement.