Bernanke Speech Summary: Concerned About Inflationary Response To Additional Monetization

Tyler Durden's picture

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peripatetic86's picture

Bernanke Speech Bullet Point:  Dead

A Man without Qualities's picture

Bernanke to the world - if we're going down, we're taking you with us...

Mako's picture

It's over.  There is no Wizard of Oz just like I have been saying.  All he is, is an old man behind the curtain putting on a show.

The system will continue to collapse and eventually liquidate.  Nothing Benny can do but trick the lemmings into marching a little further until the eventual doom.

Jake Green's picture

yeah mako, little by little the beast is dying

from what I've read, 1932 was a very miserable year, I think this time the world will take misery to a whole new level

Mako's picture

The process will take many many decades this time, last time only took 2 decades. 

When the system dies, many unfunded non-performing lemmings are going to go with it. 

Yes, unfortunately I think it's going to get very nasty compared to the last time.

Mako's picture

"committed to playing its part to help the U.S. economy return to sustained, noninflationary growth."

Benny is confused... you are not going to have growth in the system without inflation.   Inflation is the increase of the money supply...  hahahaha.

The wizard of Oz is very confused...  the helicopters will never get off the ground. 

Ripped Chunk's picture

Money supply has been contracting.

The banks are awash with liquidity but if they don't lend it out (and they aren't) then the money supply will not grow.

Starting to see more credit card offers in the mail.  But consumer debt continues to contract.


Spitzer's picture

where have you been ? , the first helicopter run was in the Bush era.

VegasBD's picture

That movie (book) was written as a parody of monetary policy....

Marley's picture

Keeping an eye on Dmitry' health this September?

midtowng's picture

Why do people still listen to this lying moron? He's never going to tell you anything that you don't already know.

snowball777's picture

Does anyone else hear the sound of snapping branches?

John McCloy's picture

They want that QE Ben. Gues they are going to have to take the markets down until they get it. They need their medicine baby. See you at S&P 800

litoralkey's picture

10k Hat Off!


Boilermaker's picture

Look at the market whipsaw back and forth as the PPT tries like hell to keep this contained.

My fucking god...give me a break.

Hansel's picture

What a dud.  They will print, but not until something bad happens.  SSDD.

Ragnarok's picture

The HP printer cartridges delivery is late do to all the sex and overbidding going on over there.

docj's picture




ejmoosa's picture

Not conditions for growth....but pre-conditions.

I think we are headed backwards.

cocoablini's picture

The world hangs on the word of a mentally disabled person. And this one person has the ability to test out his high school thesis of massive money stimulus at out expense. He also has the ability to destroy the western economy in perpetuity by getting all into a currency crisis and a deflationary debt spiral all at the same time. Astounding.

B9K9's picture


It sounds like you might still be at the denial stage. Unlike my Goodwin ripoff (... as an online discussion grows longer ...), the following postulate is original:

Every generation thinks its experiences are unique.

As evolved biological animals which can literally trace our heritage to yeast, there is a reason religion, faith & mythology have held (and continue to do so) such a strong influence throughout the ages: they provide critical competitive advantages to their adherents. That is, in eras of scarcity, those who succeed in adapting to ant-colony type networks have a higher propensity of survival.

The genes that govern subservience, and the ability to overlook the obvious, and the cultures which have developed in every corner of the globe to ensure conformance with this behavior, have been passed down to us for countless millenia. It takes tremendous analytical ability (and often that is not even enough) to see through the cloud of haze and clearly see reality.

Thus we have the situation where the entire world economy hinges on the actions of one man. Astounding? No, rather, completely predictable. In fact, ordained. It has always been this way, and it will always continue to be this way. So, rather than waste emotional energy on disbelief, grasp it eagerly as it confirms knowledge.

Anybody remember that line from Patton, where George C. Scott declares, "Rommel, you magnificent bastard, I read your book!" From my perspective, this is exactly how I feel: it's exciting & exhilarating to watch & observe humanity basically commit suicide, right on schedule.

We cannot alter our destiny. Therefore, the wise individual would make the appropriate arragements to benefit from such an outcome. Sure, there are no guarantees, but either way, you still die.


Seer's picture

Very few get it like you do, oh toothless dog ("benign canine"? sometimes I'm a bit slow) :-)

Nature operates in a world of deception.  And nowhere can this be more evident than in observing the top of the animal kingdom- humans, and within humans, their top dog- Bernanke.

Yes, amazing to behold!  My wife tells me how corrupt things are in the Philippines, and I tell her that it's much more so in the US, that in the US it's just highly polished: look, dancing bears!

And it's such a fine rope, and it fits around the neck so perfectly- my how we excel!

MachoMan's picture

The problem with the residual left by our boom/bust cycles is that "world killer" technologies (e.g. nuclear weapons, bioweapons, oil ruptures, industrial chemicals, etc.) have multiplied...  now, each boom/bust cycle carries a new urgency...  a new risk of complete and total annihilation...  my guess is that if we have enough trials, we'll succeed eventually.

sschu's picture

It is all so predictable.  Market dives until Benny shows up and gives a speech!  Then it really takes off, hooray! 

The headlines have already been written: Market surges on Bernanke comments!  Benny saves us all!  The Fed will make it all OK! 

Such propaganda.  Many who do not pay attention will feel the love.  But truly I think more folks are seeing thru the nonsense and lies … they see this ship taking on some serious water.  And they are going to be really unhappy when it all comes apart.


tonyw's picture

We are no smarter than yeast, look how it booms when there is food then collapses in it's own waste.


PeterB's picture

DXY 86 next week

Boilermaker's picture

The DOW is bouncing 20 points per minute.  S&P miraculously stops falling dead-nuts at 1040.

Man, we are close to the end here....this shit has to stop.

NumberNone's picture

Bernanke and the Fed have unlimited cash and have been given the mandate to save the financial world as it is.  There is no deception beyond them or financial hole they are not willing to fill with cash.

The intelligent get this and see it for the madness that it is...but the Fed could give a shit about that.  In their game, failure would come with an incredibly high pricetag for the US and the world.  Nothing is off the table to prevent it.  They will be ruthless, pitiless, and merciless in what they have to do to accomplish their goals.  Which is exactly how I would want them to be to protect our financial well-being...except of course for the fact that they are the Fed and they had a big hand in getting us here. 

Maybe the house of cards will come tumbling down around them but it's also possible that they will be able keep adding cards and kick the collapse down the road to the next generation or two.  Hard to bet against them. 

akak's picture

...but the Fed could give a shit about that.

The Fed couldn't give a shit.

If somebody doesn't care about something, they couldn't give a shit.  If they "could give a shit", that means that they actually care!

Al Gorerhythm's picture

They are all over gold and silver as well. Their ability to supply worthless IOU's in all markets, with no intention to deliver ( futures contracts, options, dark pool derivatives or simply, printed dollars) is limitless.

crzyhun's picture

We're driftin an driftin like a ship out to sea...old blues song say it all.


yabs's picture

BN   7:00 *BERNANKE: I'm a c*nt and now  the market knows it

BN   7:00 *BERNANKE: But don't worry the PPT have our backs and no way will they let 1040 fall

Boilermaker's picture

They just ran the DOW fucking green?

You HAVE GOT to be joking.

Turd Ferguson's picture

Apparently, the lack of immediate additional QE is being taken as a sign that things aren't quite as bad as feared.

This is utter nonsense. The Fed has finally realized that they are fucked. Painted into a corner. Can't tighten because it will destroy tax revenue and drive deficits exponentially higher. Can't do more QE because of inevitable inflation which will cause higher rates which will destroy tax revenue and drive deficits exponentially higher.

If the Commodore 64s of the world want to buy stocks today, let em. The Greater Fool Theory still reigns supreme.

B9K9's picture

The Fed has finally realized that they are fucked.

TF, I'm surprised with you - you of all people should know the Fed always knew we were fucked. What, Mish, Denninger & a host of other bloggers were the only genii in the room? Only they could clearly discern reality, but Mr. 1600 SAT, 150+ IQ didn't "get it"? Puleeze.

It's all been a confidence game; all of it, the jaw-boning, the green shoots propaganda, etc. They threw up a Hail Mary with about 1 in a trillion chance of succeeding. If it didn't work, what's the difference if they never tried? Either way, game over and we lose.

People unfamiliar with US football can never quite seem to grasp how the last 2 minutes of a close game can almost take 1/2 hour. Since the March lows, Bennie & the Feds have tried every coaching trick in the book to eek out a last second win. Sorry, but the hand is very close to -0-, this one is going in the record books as an epic loss.

Turd Ferguson's picture

I'm no so sure, B9.

I think the arrogant band of pricks (Volcker, Greenspan, Bernanke) all believed that they had the magic touch. Their all-knowing faith in Keynesianism led them to believe that all problems could be solved by the magical manipulation of the money supply.

Its possible that, only now, they are beginning to realize how badly they've fucked up.

Al Gorerhythm's picture

C'mon Turd.  What if it were you who was given a printing press to play with, along with the moniker of "Legal" or "Official Money Printer"? Additionally, you are blessed with an assurance of "Don't concern yourself with any real security as backing." Are you telling us that you wouldn't know the immorality of the process? Are you telling us that you wouldn't apply the distribution strategy of "One for you, two for me"?

These bastards have been kissed on the dick by a fairy, and they know it.

DavidC's picture

Interesting that you've included Volcker there, any particular reason? I'd have put him as one of the saner elements!


sbenard's picture



This is very troubling, because he is committing to very aggressive anti-deflationary money printing; he's doubling down on the roulette wheel, implying that they will engage in monetization of the debt to whatever level it takes. He's risking EVERYTHING on a gamble!

william the bastard's picture

He was only ONE YEAR late to the initial ease. Come on whaddaya expect on this turn?

Ripped Chunk's picture

He has no options left. See TF's post 548101 above. Painted into a corner indeed!

Boilermaker's picture


OK, today takes the fucking cake...really.  Zimbabwe ain't got shit on Ben.

papaswamp's picture

So in other words...we are fucked.