• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Bernanke Tells Nation This Sunday: More QE Coming

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Fri, 12/03/2010 - 18:14 | 776843 Aknownymouse
Aknownymouse's picture

Not so fast Benny.  Ben meet Republicans in a few weeks.

Fri, 12/03/2010 - 18:17 | 776858 Zon
Zon's picture

...who will do absolutely nothing to stop Ben bernanke(save for one congressman from texas, who will be muzzled by his surperiors)

Fri, 12/03/2010 - 20:17 | 777171 flacon
flacon's picture

If the total collapse happens in an instant, BEFORE the Republicans take over.... then they will shunt to the BCP Backup Government that Cheney was talking about. The one that lives in caves and deep underground bunkers. 

Sat, 12/04/2010 - 02:41 | 777761 StychoKiller
StychoKiller's picture

You mean the "Orcs?"

Fri, 12/03/2010 - 18:18 | 776859 redpill
redpill's picture

Did you forget who appointed him?

Fri, 12/03/2010 - 18:22 | 776878 JLee2027
JLee2027's picture

 We weren't printing money or bailing out foreign banks then.  And who re-appointed him?

Fri, 12/03/2010 - 18:27 | 776901 redpill
redpill's picture

He gave his "helicopter" speech in 2002.

Fri, 12/03/2010 - 18:32 | 776920 infotechsailor
infotechsailor's picture

Still waiting on the ZH story about the leaks that new speaker BonerZ may try to block Ron Paul from chairing monetary policy subcommittee.

Fri, 12/03/2010 - 19:48 | 777119 DoChenRollingBearing
DoChenRollingBearing's picture

A friend of mine mentioned that to me at lunch, yet I have not been able to find that anywhere.  Do you have a link?  Anyone?

Boehner does that, and then the Bearing will be proven wrong.  It will then be clear that not even the Rs are listening.  Not even a bit.

Put Ron Paul in charge of scrutinizing the Fed!  He is the right man at the right time.

Fri, 12/03/2010 - 19:54 | 777131 Shameful
Shameful's picture

The reds are not going to do anything positive.  Again I was a child, but 1994 was not that long ago.  Have they done anything good in your lifetime?  It's just a relay race of destruction.  The two looters pass the baton back and forth.  Hell the system is actually best managed so long as each party acts worse then the last time they were in power. They get loot, and it shocks the people into going to the other party which in turn will be even worse and so on.

Surely you must have heard the talk among the tea party elect about how hard it will be to cut.  I quite frankly will be stunned by any real cuts.  What you can expect is them to advertise cuts, which will be cuts in the rate of increase of spending, but the rate of spending will continue to climb.

Fri, 12/03/2010 - 19:59 | 777136 percolator
Fri, 12/03/2010 - 21:46 | 777299 percolator
percolator's picture

thanks for the link!

Sat, 12/04/2010 - 14:13 | 778178 Bring the Gold
Bring the Gold's picture

LMAO!

Seriously? You guys think the R's are any less in the pockets of the same puppetmasters ad the D's? Were you guys in a collective coma since 2001? TARP, Paulson, Bernanke all in 2008? 4 years of total Republican domination 2002-06 and they not only didn't stop the freight train but added rocket boosters on the side and you guys trust these guys?

Seriously are you fucking kidding me?!?!?! These are the guys who have absolutely shredded our way of life created DHS, TSA, the Patriot Act, Military Commissions, Annihilation of at least half the bill of rights and you think they are on your team?!?!?

Holy fucking partisan brain death batman!

Sat, 12/04/2010 - 18:24 | 778555 Paul E. Math
Paul E. Math's picture

Nice rant.  Respect.

The real enemy is partisanship itself.

Fri, 12/03/2010 - 18:32 | 776923 Aknownymouse
Aknownymouse's picture

This was a speech for the square heads like him.  Now that his theory became policy and the tea baggers saw it live - he will have an uphill battle with the new house and with the upcoming elections.  Benny is the new political whipping boy.  He just does not know it yet.

Fri, 12/03/2010 - 21:08 | 777241 ZakuKommander
ZakuKommander's picture

Who reappointed him?  Dems . . . and Republicans, who could have but didn't join many Dems, and filibuster.  Repubs are, basically and traditionally, all for Wall Street and the rich.  Ron Paul is treated as a pariah.

Fri, 12/03/2010 - 18:24 | 776882 Aknownymouse
Aknownymouse's picture

different times - different politics.  In addition he just proved that his QE crap DID NOT do anything to help the UE numbers like he claimed.  I truely think that the trend is now against him politically.  Every Tom Dick and Harry will show boat on how Benny helped the Europeans with billions and failed to help americans.  He is very weak and he does not know it yet.  Soon he will be more worried about saving his own ass. That QE will be history.

Fri, 12/03/2010 - 18:20 | 776868 tmosley
tmosley's picture

Only one Republican matters, and he probably doesn't matter enough, as much as I love the guy.

Ron Paul.

Fri, 12/03/2010 - 18:29 | 776906 EvlTheCat
EvlTheCat's picture

:) End the Fed!

Damn Libertarians in incognito!!

Fri, 12/03/2010 - 19:50 | 777126 DoChenRollingBearing
DoChenRollingBearing's picture

I have been stamping "END THE FED" with my new Custom Stamper ($35 at Office Depot) on FRNs.

I hope that doesn't bother anyone.  Be looking for the decorated FRNs soon!

Fri, 12/03/2010 - 22:21 | 777361 flacon
flacon's picture

I used to stamp "666" on them. Same diff. 

Sat, 12/04/2010 - 00:31 | 777575 RockyRacoon
RockyRacoon's picture

vistaprint.com

Quick and cheap!   Got mine.

Fri, 12/03/2010 - 18:40 | 776949 Jeff Lebowski
Jeff Lebowski's picture

I would suggest you add another to the list.  Paul Ryan.

Fri, 12/03/2010 - 19:12 | 777034 tmosley
tmosley's picture

I say Ron Paul because he will be chairing the monetary policy subcommittee.

Fri, 12/03/2010 - 19:51 | 777128 DoChenRollingBearing
DoChenRollingBearing's picture

I hope you are right tmosley.  Apparently there is a rumor that Boehner may block him, but I have been able to find anything yet on the 'Net.

Sat, 12/04/2010 - 14:45 | 778220 tmosley
tmosley's picture

Yeah, I saw that too.  If they block him here, the Republican party will be finished.

Fri, 12/03/2010 - 21:13 | 777248 ZakuKommander
ZakuKommander's picture

Paul Ryan?  LOL.  Key man in the bank bailout.  

Fri, 12/03/2010 - 23:53 | 777517 razorthin
razorthin's picture

Sadly, my (avatar) vindication will come with the destruction of the republic.

Fri, 12/03/2010 - 18:33 | 776926 Shameful
Shameful's picture

Yeah and the Republicans will ask Zimbabwe Ben for more dollars to fuel the global murder machine.  Nothing will change.  Has voting fixed anything for the past few decades?

Fri, 12/03/2010 - 18:15 | 776847 patience...
patience...'s picture

"The bearded mutant"  Gotta love the one-liners on ZH.

LOL

Fri, 12/03/2010 - 20:16 | 777170 Threeggg
Threeggg's picture

"the bearded mutant-cum-supreme genocidal overlord"

Damn TD !!!!!!!!!

 

Nice !

Fri, 12/03/2010 - 18:15 | 776850 CashCowEquity
CashCowEquity's picture

Thankful I own PM's , physically.

Fri, 12/03/2010 - 18:29 | 776911 Herd Redirectio...
Herd Redirection Committee's picture

"Let's get physical"  is about to make a comeback, in a big way!

Its the only thing you can do to show disapproval of the current crooked system.  Take your assets out of the banking system, and put it into precious metals.  Or select mining stocks.  Physical is insurance in case there is no law and order, but assuming it is just currency crisis that awaits us, mining stocks will do well. 

Of course, everything on Zimbabwe's stock market is up  a few thousand % this year, so that should be kept in mind, as long as Zimbabwe Ben is in charge.

http://psychonews.site90.net

PsychoNews: Exposing the Oligarchy, one Psycho at a time.

Fri, 12/03/2010 - 18:19 | 776851 Duuude
Fri, 12/03/2010 - 18:21 | 776872 Dagny Taggart
Fri, 12/03/2010 - 18:17 | 776852 Kaiser Sousa
Kaiser Sousa's picture

"And yes, the $7 dollar jump in gold late in the day may be multiplied 10-20x on Monday after the world realizes that the US economy is as fucked as always."

Tyler such language...we gone have to wash yo mouth out with soap son...now let me get back to counting this shiny stuff...."1001, 1011....."

Fri, 12/03/2010 - 19:15 | 777043 knukles
knukles's picture

"after the world realizes that the US economy is as fucked as always."

A little subdued, perhaps? Art of the understatement?  

Fri, 12/03/2010 - 18:17 | 776854 Cojones
Cojones's picture

So next week the FED will own 7.5% of the US deficit. That calls for a party.

Sat, 12/04/2010 - 00:34 | 777584 RockyRacoon
RockyRacoon's picture

Load 'em up to the gills -- and then cut 'em loose.

Fed?  What Fed?  We don't know no "Fed".

They have gold certificates, but the Treasury has the metal.

Sat, 12/04/2010 - 01:00 | 777622 trav7777
trav7777's picture

naw, the FRBNY has an assload in their basement.

The gold in 33 was surrendered to the Fed, not the treasury

Sat, 12/04/2010 - 12:23 | 778054 RockyRacoon
RockyRacoon's picture

Last time I checked the Fed didn't have any armed troops to call on.

Fri, 12/03/2010 - 18:17 | 776855 cocoablini
cocoablini's picture

Oh, so QE2 was more than a trillion after all- just marketed in 600 billion dollar parcels that we can gag on but not choke on.
He is going to print, print,print,print. Madness being defined by doing the same useless activity over again expecting a different result.
Except the Fed, as usual, changes is to madness is doing the same thing over and o er again, burning bridges along the way

Sat, 12/04/2010 - 14:46 | 778222 FreedomGuy
FreedomGuy's picture

Bernanke is trapped by his own theory and arrogance. He will run his liquidity theory to the very end, until it breaks...everything. Fifty years from now another economist will theorize the wrong thing and do something else stupid with currencies. This is the problem when you give a few people huge power and control. They don't just break one company. The break everything and all of us.

Fri, 12/03/2010 - 18:19 | 776864 tony bonn
tony bonn's picture

jim willie predicted qe-n to a t. the fed is in a death dance with qe infinity and MUST MUST MUST remain in it to offload all of the crap it bought when hank paulson - asshole extraordinaire - threatened martial law and nationalization in order to save goddamn sachs (i meant goldman sucks....)....

all of those cds have an incentive to ignite...this is how banksters make their money in a debt larded world...the irs will incinerate the financial world....

my guess is that the fed's balance sheet is worth 30-70% of what it claims to be....if bernankrupt had to liquidate all of that garbage in short order, the value would be closer to the lower end....i also would guess that the fed has a corner on the mortgage fraud securities market...if i were ron paul i would start investigating the quality of the fed's portfolio and prosecute bernankrupt for hate crimes....i know i can't stand him...

Fri, 12/03/2010 - 18:21 | 776873 Violetta (not verified)
Violetta's picture

Help!  I still don't understand why the stock market goes up when the QE is announced.  As far as I comprehend so far, the Fed credits itself with money, then buys the debt from the government?  But why does that make the stock market go up?

Fri, 12/03/2010 - 18:23 | 776886 Ragnarok
Ragnarok's picture

PDs buy debt from gov't, Fed buys debt from PDs, PDs lever up profit and invest in stock market.

Sat, 12/11/2010 - 01:58 | 798233 Violetta (not verified)
Violetta's picture

oooooohhh. now i get it.  this is why they use the pds, not just buy through treasury direct, like normal people.  if there weren't any pds, the stock market wouldn't go up.

hahahahahahahahahahaha, oh but it really is sad, people really don't understand this.

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