A couple things struck me by Bernanke's testimony this week. The first was that he mentioned the "President's Working Group". I wasn't paying attention when he did, so I am not sure of the context, but he did say the words "President's Working Group". He didn't go on about it. The second was the audacity that he had when bringing up the Federal Reserve's gold holdings.
Let's first remember that last year he referred to the Federal Reserve's gold holdings as "Tradition", yet somehow this year he doesn't know if the Federal Reserve holds any gold. Then he had to be coached as to what they hold (gold certificates) and where they lie on the balance sheet (they are held as reserves).
Think about his capitulation: Either he is so dumb that he can't remember his balance sheet, or he lied. Considering he is eloquent enough to have written the texts used across the University system, and he can coherently talk about how Neo-Keynesian economics is implemented, I am quite sure he was lying. There goes the whole "He is a useful dupe" plausible deniability theory. He is an evil, lying, bastard.
And that solidifies my feelings for politicians, bankers, and everyone else in the system at the top of the pyramid. They know what they are doing.