(Melchizedek Communique, MC020910)

Poor Ben Bernanke. His first months as chairman of the Federal Reserve System were marked by difficulties communicating with the media. Then, in August 2009 President Barack Obama announced he would nominate Bernanke to a second term. When Senate Banking Committee hearings on his nomination began on December 3, 2009, several Senators from both parties indicated they would not support a second term. However, Bernanke was confirmed for a second term as Chairman on January 28, 2010, by a 70–30 vote of the full Senate, historically the narrowest margin for any occupant of the position. [1]

With no fanfare, Bernanke was sworn in for his second term on February 3, 2010. [2] Almost coincidentally there began a debt crisis in Europe followed by a noticeable drop in stock markets.

On February 2, 2010, the day before Bernanke was re-sworn as "Fed" chair, Eustace Mullins, author of "Secrets of the Federal Reserve", died at the home of his caretaker in a small town in Texas. "A protege of the imprisoned patriotic poet Ezra Pound, Mullins compiled a well-researched corpus of works that detailed the passage down through time of a hereditary group of banker killers who have essentially ruled the world from behind the scenes since ancient times." [3]

Also at about the time of the narrow congressional approval for Bernanke's re-appointment, Paul Volcker, chairman of President Obama's newly formed Economic Recovery Advisory Board and former "Fed" chairman himself, reportedly gained ascendancy over current Treasury Secretary Timothy Geithner in the White House. [4]

According to a report in Russia's Pravda newspaper, "We are witnessing an epic battle between two banking giants, JPMorgan Chase (Paul Volcker) and Goldman Sachs ([Robert] Rubin/[Tim] Geithner)." [4]

Volcker is memorable as the man who obliterated enormous inflation of the late 1970s/early 1980s.

We are witnessing "a new stage in the global financial crisis" writes Nick Beams of the World Socialist Web Site. "[T]rillions of dollars of debt have simply been taken from the books of the banks and finance houses and transferred to the state. Now comes the next phase—the repayment of this debt through savage cuts in social spending and a drastic reduction in the living standards of the working class." [5]

It is a good thing so many of our young people are employed, fighting an endless war in the Middle East. Just imagine if peace were declared and all these brave soldiers came back to the U.S., looking for jobs.

And, as a further jobs creation measure, war might be escalated into World War III. "The US economy's recovery risks being hampered by the creation of a new army of long-term unemployed, whose number has more than doubled in the past 12 months." [6] By coincidence, the threat of international terrorism to the UK was recently raised from substantial to the second highest level of severe, meaning an attack is 'highly likely'. [7] Dennis C. Blair, the U.S. Director of National Intelligence, told lawmakers that Al Qaeda and its affiliates had made it a high priority to attempt a large-scale attack on American soil within the next six months. [8]

------- Notes -------
[1] "Ben Bernanke", Wikipedia, Feb. 9, 2010
[2] "Bernanke sworn in for second four-year term", by Greg Robb. Marketwatch, Feb. 3, 2010
[3] "Eustace Mullins, 1923-2010"
http://www.therightperspective.org/2010/02/03/eustace-mullins-1923-2010/
[4] "The Battle of the Titans: JPMorgan Vs. Goldman Sachs", Pravda, Feb. 1, 2010
http://english.pravda.ru/business/finance/01-02-2010/111958-morgan_goldman_sachs-0
[5] "Government debt: a new stage in the global financial crisis", by Nick Beams. wsws.org, Feb. 9, 2010
[6] "US recovery risks being hobbled by growing army of long-term unemployed", by James Quinn. Telegraph (U.K.), Feb. 5, 2010
[7] "Terror level in UK raised to 'severe'", by Jenny Percival, et al. Guardian (U.K.), Jan. 23, 2010
[8] "Senators Warned of Terror Attack on U.S. by July," by Mark Mazzetti. New York Times, Feb. 2, 2010