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    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

CLSA's Chris Wood Says Bernanke Will Continue "Mad Experiment" Until He Kills US Dollar Paper Standard, Looks Toward QE3

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Thu, 11/04/2010 - 14:43 | 700346 Jim in MN
Jim in MN's picture

For want of a bond haircut, the West was lost.

Thu, 11/04/2010 - 22:59 | 701787 GoldSilverDoc
GoldSilverDoc's picture

Actually what we need is a beard trim.

With a guillotine.

Thu, 11/04/2010 - 14:51 | 700348 SheepDog-One
SheepDog-One's picture

The day after QE2, everyones already looking toward QE3 and pricing it in, pure madness.

Thu, 11/04/2010 - 14:54 | 700399 mikla
mikla's picture

Ben is mad.

Ben is glad.

Ben is sad.

Ben is rad.

Thu, 11/04/2010 - 15:28 | 700564 SteveNYC
SteveNYC's picture


Thu, 11/04/2010 - 15:40 | 700606 EscapeKey
EscapeKey's picture

I doubt there will be a QE3 - mainly due to this paragraph:

"The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability."

Essentially, Mad Ben can adjust the amount on a monthly basis, the total amount, and furthermore retains the right to adjust the program itself, i.e. he can theoretically extend it and decide to buy alternate asset classes as well under the guise of "required adjustments".

QE2 was a blanco-cheque.


Thu, 11/04/2010 - 16:28 | 700859 Buddha_Gorilla
Buddha_Gorilla's picture


Thu, 11/04/2010 - 17:29 | 701102 saulysw
saulysw's picture

+1 ounce.

Thu, 11/04/2010 - 14:49 | 700371 john_connor
john_connor's picture

The fall of the Republic accelerates

Thu, 11/04/2010 - 15:02 | 700437 Lucius Corneliu...
Lucius Cornelius Sulla's picture

I'm kinda thinking the whole idea of a Cascadia Nation may gain a new head of steam.  Alaska, British Columbia, Washington, Oregon and Idaho would do much better by themselves.  Tap into all those natural resources that Uncle Sam and the enviromentalnuts have locked up.  Bye bye banksters... it was fun while it lasted!  Fiat currencies need not apply.  We've got plenty of gold and silver!



Thu, 11/04/2010 - 15:03 | 700446 cossack55
cossack55's picture

May I join. I have always loved Couer D'Alene, especially this time of year.

Thu, 11/04/2010 - 15:05 | 700462 Xedus129
Xedus129's picture

Can we pick someplace warmer? I hate the winter.

Thu, 11/04/2010 - 15:15 | 700504 Ragnarok
Ragnarok's picture

Fuck Oregon and take Alberta and the Yukon.

Thu, 11/04/2010 - 15:19 | 700516 Lucius Corneliu...
Lucius Cornelius Sulla's picture

If that were the choice I would definitely go with Alberta and the Yukon over Oregon.  Oregon has some great farmland and the coast is nice too.  Too many liberal weirdos though.

Thu, 11/04/2010 - 15:22 | 700535 goldmiddelfinger
goldmiddelfinger's picture

a nation of asshats in a cold region. Enjoy!

Thu, 11/04/2010 - 17:00 | 701003 Canucklehead
Canucklehead's picture

Actually, what you "really" want is Alberta, Saskatchewan, North Dakota, South Dakota, Montana, Wyoming.

Look to the future.

Thu, 11/04/2010 - 19:04 | 701347 masterinchancery
masterinchancery's picture

I would add Wyoming and Montana to the mix. Subtract Oregon, which is bankrupt and full of worthless liberals and high taxes.

Thu, 11/04/2010 - 17:51 | 701188 Gordon Freeman
Gordon Freeman's picture

The only problem is that all those erstwhile Cascadians are heavy on the fruitcake factor, and would have trouble agreeing on how to organize a barbecue...

Fri, 11/05/2010 - 10:49 | 702564 Canucklehead
Canucklehead's picture

Ahhh..ck.  That comes from worshipping the "Queen"...

Fri, 11/05/2010 - 01:40 | 701283 Lucius Corneliu...
Lucius Cornelius Sulla's picture


Thu, 11/04/2010 - 14:51 | 700377 Ragnarok
Ragnarok's picture


Thu, 11/04/2010 - 15:18 | 700518 Oracle of Kypseli
Oracle of Kypseli's picture

Too much curry there. They even use it as an antibiotic.

Best places... Santiago Chile, Quito Equador, perpetual spring weather.


Thu, 11/04/2010 - 15:23 | 700542 goldmiddelfinger
goldmiddelfinger's picture

Obama, 34 warships and the entire executive branch of US govt in town at $200 Million per DAY.

Thu, 11/04/2010 - 16:12 | 700782 Oh regional Indian
Oh regional Indian's picture

It's pretty crazy, with so much need to be at the helm, here he is in India.

Tells me two things:

1) Something is going down in DC

2) India is somehow important. How? Fake china foil? Defense billions? Proxy?

And as usual, massive lockdown and staged appearences wherever they are going.

Crazy world.



Fri, 11/05/2010 - 03:24 | 702051 mamba-mamba
mamba-mamba's picture

Maybe he is meeting with Pakistani or Afghan officials to negotiate the end of the war in Afghanistan.


Just a thought that popped into my head.


Fri, 11/05/2010 - 09:12 | 702298 chindit13
chindit13's picture

Looking forward to your on the ground reports on Maharajabama's visit.

Sat, 11/06/2010 - 10:17 | 705000 tip e. canoe
tip e. canoe's picture

2) India is somehow important. How? Fake china foil? Defense billions? Proxy?

remember the East India Trading Company?   meet the 21st century version.

or maybe they're bringing back some elephants for the circus?

second chindit's request for ground reports ORI.


Thu, 11/04/2010 - 19:06 | 701352 masterinchancery
masterinchancery's picture

The teleprompter had to give a speech.

Thu, 11/04/2010 - 14:52 | 700386 Common_Cents22
Common_Cents22's picture

Wall St has been watching the JG Wentworth commercials on CNBS.


"It's my money and I need it now!"

Thu, 11/04/2010 - 14:53 | 700391 jesse livermoore
jesse livermoore's picture

forget about QE#3  I am  positioning for QE#4     gold and silver must be bought!!!!!!!!!!!!!

Thu, 11/04/2010 - 14:53 | 700392 99er
Thu, 11/04/2010 - 15:10 | 700481 bania
bania's picture

First line: "We're starting a Tim Geithner death watch."

Yeah, no kidding.

Thu, 11/04/2010 - 17:35 | 701126 Dadoomsayer
Dadoomsayer's picture

Wish it were Bernanke. 

Thu, 11/04/2010 - 14:56 | 700407 chistletoe
chistletoe's picture

a bit out of date, aren't we,

with the royal bank of australia?

From the first minute that home prices started to collapse,

it being evident that an unprecedented calamity was upon us,

I was in favor of the dramatic and unfair act of forgiving ALL debts,

or at least all home mortgages.

Had they done that at the time it would have cost them less than TARP, plus QE 1-to-infinity ....


its probably too late now ... even a child can figure out, sooner or later,

how to get out of a chinese finger trap ...

bankers lack something in their heads, I'm not sure what it is, but they sure lack something ....

Thu, 11/04/2010 - 15:10 | 700480 Common_Cents22
Common_Cents22's picture

How has anything COST the bankers?   They have their jobs and bonuses paid for by the taxpayer through the FED.  


You mean it cost the TAXPAYER?!     yeah.....

Thu, 11/04/2010 - 14:59 | 700424 Oh regional Indian
Oh regional Indian's picture

The constant comparison between Japan and the US (Lite/heavy, whatever) is silly.

The US is it's very own basket case, with intractable problems all coming to head together, driven by a mad machine of bought up politicians, phony elections, a controlled and sedated polulation, no manufacturing....

Plus, the author has a rather sanguine look going forward. Where is the current 6 sigma level risk of geo-political and/or geo-logical triggers factored in?

Or is that kind of thinking only for nutters? Like me!



Thu, 11/04/2010 - 15:03 | 700451 Xedus129
Xedus129's picture

Fox keeps showing riots, (Or at least while I run at the gym), usually of Greece or what not.  I have a feeling it will be 100x worse here, mostly because we have (pick a number) 10^nth time more guns.  When SHTF any idea where the best geographical location will be?

Thu, 11/04/2010 - 15:08 | 700468 RockyRacoon
RockyRacoon's picture

Fox will show no riots in the U. S. unless there are signs with Obama and a swastika motif.  Every junk I get will be an affirmation that you agree!

Thu, 11/04/2010 - 15:15 | 700506 cougar_w
cougar_w's picture

junk FTW

Thu, 11/04/2010 - 15:08 | 700474 the not so migh...
the not so mighty maximiza's picture

The Mountains.  Smaller population easier to self sustain.

Thu, 11/04/2010 - 15:47 | 700661 Maos Dog
Maos Dog's picture

da swamp - 

We have - 


growing seasons all year

food everywhere (wild pigs are now a pest animal here we have so many)

easy to control roads

tough terrain and heat ensure softies will not come here

Thu, 11/04/2010 - 15:14 | 700500 cougar_w
cougar_w's picture

Best for what purpose? For how long?

The idea that any of us will ride this out comfortably is probably a reach. Apart from the Amish, who never gave up on simplicity, I don't think a single one of us will find ourselves prepared for vast, crushing austerity.

Thu, 11/04/2010 - 15:19 | 700524 gwar5
gwar5's picture

Dewd, the world is coming to an end and you haven't got a gun yet? 

If you get in a tight spot, call 9-1-1 or the suicide hotline -- the government is always there to help you.




Thu, 11/04/2010 - 18:58 | 701336 honestann
honestann's picture

Correct.  If the phone line (or cell connection) still works, they will sympathize with you while you are being raped, sliced into pieces, grilled to a golden brown, and eaten.  If you want to know what's coming, learn about the "Reevers" (?spelling?) from Firefly.

If that doesn't convince you to buy guns, ammo, grenades, cross-bows, sling-shots and more, nothing will.

Thu, 11/04/2010 - 15:31 | 700578 gwar5
gwar5's picture

Seriously -- away from cities. Like Mtns of TN, or some such, East coast.

Montana or Idaho, West coast.

You'll find: Small local economies, self sufficiency, friends are tight, can take help care of each other and handle guns. The bonus is the scenary and climate is good with minimal energy requirements. You'd never know anything was going on in those places, especially if you have kids.

Thu, 11/04/2010 - 15:04 | 700454 RecoveringDebtJunkie
RecoveringDebtJunkie's picture

BB may have a harder time killing the dollar than most think. There are many factors involved, but it's not even clear that the elites (and by proxy, the Fed) want to generate inflation, or if they do, that the Fed can accomplish this goal politically or economically.


Thu, 11/04/2010 - 18:54 | 701322 honestann
honestann's picture

In theory, the central bank cannot always generate overall inflation, due to "transmission inefficiencies" (but they always create bubbles).

However, a central bank can always generate hyper-inflation, because hyper-inflation is qualitatively different than inflation (similarity of the terms notwithstanding).

Hyper-inflation is when folks increasing refuse to "play the game" with a currency, and demand payment in other forms (gold, silver, platinum, palladium, nickel, copper, lumber, wheat, sugar, corn, or other backed or unbacked currencies).

And "killing the dollar" is hyper-inflation, not inflation.

Thu, 11/04/2010 - 15:05 | 700459 cossack55
cossack55's picture

How, may I ask, can you kill something that shows no signs of life?

Thu, 11/04/2010 - 15:08 | 700472 RockyRacoon
RockyRacoon's picture


Thu, 11/04/2010 - 15:06 | 700466 gwar5
gwar5's picture

Monetary Euthanasia

No problem, I have chickens I can trade.


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