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Fed QE Policy To Be Subject Of US House Hearing On Nov. 30, Says Kucinich

Tyler Durden's picture


Could this day get any better? Throw in some Ron Paul in there and November could be the best month for capital markets in many years.


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Tue, 11/23/2010 - 17:06 | 750504 SWRichmond
SWRichmond's picture

Someday soon, the USD will fail to be the safe haven play. I personally can't wait for Ron Paul to chair the subcommittee.

Gold is up nicely today.

Wed, 11/24/2010 - 03:06 | 751758 i-dog
i-dog's picture

Don't get your hopes up too high over Ron Paul. He is a single voice in a strictly controlled federal hierarchy.

This is from an Alex Jones interview with Ron Paul yesterday (11-23-2010):

AJ: "Do you think this next Congress is finally going to get a real audit of the private Federal Reserve?"


RP: "I think it's going to still be an issue but I think that the auditing of the Fed will come up again ... there are going to be some more votes ... we will get bits and pieces of information that we haven't had before ... but a real audit? No, I'm not expecting it."

In other words, more of the same old Washington waffle-waffle BS.

When are people going to realise that the only solution is for the 50 states to grow some balls and dismantle the whole oligarch-controlled federal scam!

Tue, 11/23/2010 - 16:26 | 750368 Me XMan
Me XMan's picture

Hearing will expose matters to public. It's great to hear.

Tue, 11/23/2010 - 18:29 | 750780 Sudden Debt
Sudden Debt's picture

It will be like watching MONKEY'S DANCING ON A STRING!





not that it happend to me... it happend to a friend of mine...


Wed, 11/24/2010 - 03:08 | 751760 i-dog
i-dog's picture

+1,000  LOL!

Tue, 11/23/2010 - 21:33 | 751073 Bob Sponge
Bob Sponge's picture

I am not too optimistic about the average person actually figuring out what is going on. I hope at least a few Congressmen wake up.

Tue, 11/23/2010 - 16:27 | 750371 goldmiddelfinger
goldmiddelfinger's picture

Oooh Kusinisch. They'll be really scared

Tue, 11/23/2010 - 16:47 | 750436 Dr. No
Dr. No's picture

Well, Kusinich's economic advisor during his prez campaign was Michael Hudson,  Mr. Hudson is big time banker hater but opposed to a gold standard. The Bernank will need to study hard for this exam and then completly flip-flop when Paul gets him under oath.

Tue, 11/23/2010 - 17:20 | 750555 macholatte
macholatte's picture

Clearly, Dennis Kucinich has landed an alpha babe.  And not just a tabloid exploiting fame seeking fly-by-night whore. These two lovebirds are married.  It is clear from her body language and how she speaks of him that she truly loves him.  How is this possible?  Examining the basic facts, we see a large disparity in their relative sexual attractiveness.

  1. he is much shorter than her
  2. he is goofy looking; she is a beautiful, lithe, redheaded bombshell
  3. he is a lot older than her (31 year age difference.  she’s 29, he’s 60)
  4. she is feminine.  he is… feminine
  5. he has unicorn and rainbow politics


Dennis Kucinich: Alpha Male


Tue, 11/23/2010 - 19:31 | 750881 Careless Whisper
Careless Whisper's picture

thanks for the link, but i think you forgot to mention the most important part:

maybe Dennis has a 12″ cock

all i can say is, good for him.


Wed, 11/24/2010 - 03:18 | 751772 i-dog
i-dog's picture

Babes don't marry 12" cocks ... they have affairs with them. Babes marry 24kt wallets. So, Kucinich must be well connected to a money tree.

Tue, 11/23/2010 - 17:03 | 750494 velobabe
velobabe's picture

o H I o, silver bitchez†

Tue, 11/23/2010 - 17:03 | 750496 velobabe
velobabe's picture

o H I o, silver bitchez†

Tue, 11/23/2010 - 17:12 | 750524 unwashedmass
unwashedmass's picture


don't dismiss him...yeah, he looks like one of Santa's elves...but he's smart as a whip, unlike most of the Congressmen, and he has NO LOVE WHATSOEVER for the major banks....remember, he's from the rust belt, deep in it, where the peasants have been literally raped and pillaged for the past several years.

don't dismiss this guy.

Tue, 11/23/2010 - 18:29 | 750777 VegasBD
VegasBD's picture

No love? Im sorry but I remember him being on the list of congressmen who changed their NO vote to YES for TARP the second time around.

Dismissed. Thx.

Tue, 11/23/2010 - 19:51 | 750926 unwashedmass
unwashedmass's picture


i don't think you should judge people on the basis of the TARP vote. you should actually be smart enough to understand that the information that these people were given was highly, highly, highly massaged in one direction to enable the theft.....

that said, once burned....kucinich knows he was conned and burned.......

dismissed to you. thanks for the blast of insanity from the rush/fox contingent.

Tue, 11/23/2010 - 23:02 | 751267 Fred Hayek
Fred Hayek's picture

There were people telling them how dumb TARP was at the time it came up.  It's not like the only voice Kucinich could hear, the only information out there, anywhere were the words that conned him.  I don't know if "dismissed" is the right response but it's not far off.

Tue, 11/23/2010 - 16:29 | 750377 slaughterer
slaughterer's picture

Attn: Harry Wanger

Its as if the world--SEC, Korea, Uncle Sam, EU--are all out to undermine your Santa Rally.

Tue, 11/23/2010 - 17:12 | 750525 Arius
Arius's picture


wondered if he gambled today on his $1341 gold projection... 

Tue, 11/23/2010 - 17:36 | 750613 Ratscam
Ratscam's picture

he probably went Long ES in anticipation of the 1:30 turn around, which he caught perfectly on the high, hence he took off from work and is enjoying his favorite drink "Harry Head Banger" ...

Tue, 11/23/2010 - 16:29 | 750378 Cognitive Dissonance
Cognitive Dissonance's picture

All hail the hated short.

Tue, 11/23/2010 - 16:29 | 750379 TooBearish
TooBearish's picture

Dood this is all scripted - they had a secret hearing last week....talking points to justify the insanity

Tue, 11/23/2010 - 16:31 | 750381 jdrose1985
jdrose1985's picture

Oh,, you mean Ron Paul the Freemason right?

Oh man...let's just pretend we didn't see this

Tue, 11/23/2010 - 16:39 | 750412 Horatio Beanblower
Horatio Beanblower's picture

There are Freemasons and then there are Freemasons.

Tue, 11/23/2010 - 17:13 | 750527 Whizbang
Whizbang's picture

I'm a freemason, we don't do the stuff we think you do, unless you think we drink beer and donate money to charity.

Tue, 11/23/2010 - 17:40 | 750631 SMG
SMG's picture

I'm sure many freemasons are fine people and good citizens. 

The people at the top of the freemason pyramid are the problem.  There is much evil there.

Tue, 11/23/2010 - 23:04 | 751274 Fred Hayek
Fred Hayek's picture

As clearly depicted here:


Tue, 11/23/2010 - 21:30 | 751068 Maos Dog
Maos Dog's picture

Umm dude, you forgot to mention super-secret bingo night...

Tue, 11/23/2010 - 16:48 | 750419 tmosley
tmosley's picture

That "hand sign" means "I love you" in American Sign Language.

People are so damn stupid sometimes.

Edit: and Christ, that handshake isn't some fucking illuminati symbol, it's the handshake of two people stretching out across a very wide table to shake hands.

Or I'm totally wrong and BEN FUCKING AFFLECK is a member of the Illuminati.  Ron Paul saw Gigli, and just HAD to have him brought in.

Edit number 2: The ILY sign:

I just can't emphasize enough how stupid this is.

Tue, 11/23/2010 - 17:10 | 750506 jdrose1985
jdrose1985's picture

The American sign language developed by theosophist Hellen Keller, you mean?

I just can't emphasize how brain dead are. Basically fighting to stay asleep your whole entire life.

Funny, nobody said anything about Ben Affleck besides you. But then again, you're a moron trying to kick up some dust so you don't have to face your cherished delusional belief system.

Tue, 11/23/2010 - 17:16 | 750536 tmosley
tmosley's picture

I see, so all deaf people are also Illuminati as well.  Nice one there.

Your second sentence is deliciously ironic.

Did you actually WATCH the video you posted?  One of the examples of the "Evil Handshake" was him shaking hands with Ben Affleck.  I don't really give a shit about Ron Paul.  He's too late to do anything.  The US will have hyperinflation whether he likes it or not, and everyone that doesn't own real goods is going to be wiped out.  Sorry, dollars don't get more valuable by printing more of them, despite whatever the Neo-Keynesian death-worshiper you choose to place your faith in has to say.


Tue, 11/23/2010 - 17:20 | 750553 tmosley
tmosley's picture

Jesus is the DEBIL!

Tue, 11/23/2010 - 17:21 | 750558 Dr. No
Dr. No's picture

"The US will have hyperinflation"   oops; now you did it.  jdrose is a deflationist. She will warp words and flip-flop logic to avoid providing direct evidence for any of her (by her own assessment) worthless opinion.

Tue, 11/23/2010 - 17:35 | 750608 tmosley
tmosley's picture

Heh, I thought she was a guy.  

Tue, 11/23/2010 - 17:45 | 750651 jdrose1985
jdrose1985's picture

Pretty much you're a liar now unless you can show me which words I've warped. Because you're basically resorting to lying...that's how shaky your argument is.

Hyperinflation is going to happen any day now, that's what you all are trying to tell me all the time. Yep you're pretty much a bunch of liars hoping to get materially rich by hitting the hyperinflationary jackpot.

Tue, 11/23/2010 - 17:53 | 750688 Dr. No
Dr. No's picture

Technically, I said "will" not "did".  But this is getting pretty boring.  peace.

Tue, 11/23/2010 - 18:33 | 750786 Sudden Debt
Sudden Debt's picture

You swallow?

Tue, 11/23/2010 - 17:25 | 750573 jdrose1985
jdrose1985's picture

all deaf people illuminati.

nope, never said that. basically you're just in the habit of building straw men and exaggerating.

You probably don't even know how money comes into existence, that's how blind you are. Just like about 90% of the rest of the retards who flock to this place to shop for opinions which reinforce the jackpot mentality.

Yep it's going to be hyperinflation because old Benny promised you he'd be swinging by and dropping off fresh loads of cash at your place almost 10 years ago. Basically you'll cling to anything that fuels your delusional fantasies of hitting the jackpot some day, that was the plan all along. You're basically praying to Benny to make your daydreams come true.



Tue, 11/23/2010 - 17:36 | 750615 Dr. No
Dr. No's picture

I think you need to look at the big picture.  When the Bernank was appointed, there was not a magical gate which opened which meant inflation is here.  In fact the data shows The Bernank has at times tried to keep inflation under control (look at adjusted monetary base charts, hard to believe but you will see some flat areas).  But when (including the bernank) the FED gets into a bind, they inflate.  It has happened since 1913.  Thats just what they do.  It is not hope, it is not fantasy.  They inflate.

Tue, 11/23/2010 - 17:48 | 750666 jdrose1985
jdrose1985's picture

No, the US consumer inflates.

Basically you're betting that the US consumer is going to hyperinflate the way out of this. Well how many people do you know getting raises to build collateral to request money be manufactured.

All you have to do is look at total credit supply and that alone lays your little pet arguments to rest.

No matter what you think, I'll just let it be known now that no matter what happens I hope you make a pile of money. I wish you the best no matter what.

Tue, 11/23/2010 - 20:03 | 750944 ThreeTrees
ThreeTrees's picture

Three words:  Cost-Push Inflation

Tue, 11/23/2010 - 20:28 | 750981 tmosley
tmosley's picture

I wonder if your loving husband beats you when you continue to not pay attention to what he says.

Hyperinflation is NEVER EVER EVER caused by consumers.  EVER.  PAY FUCKING ATTENTION.  It is caused by a shift of funds from financial products to real products.  This is a phenomenon driven by a collapse in confidence in the currency, generally driven by governments printing money to pay their expenses, something we are doing RIGHT NOW.

Credit only drives demand pull inflation.  Money printing creates cost push inflation.  It's like using a train connected to a watermelon by a string to push it down the track.  Right now, the is slack in the string as the train barrels toward the watermelon.  You are sitting there like a moron saying "Hey, that train could never move that watermelon!".  Then the train hits the watermelon and it vaporizes.  Your dumb cunt will be sitting there eating it when it does, because you don't understand economics.  We, on the other hand, will be standing nearby, with rainslickers and umbrellas to shield us from the juice and your guts as they go flying everywhere.  We can't stop this train, but there is no need to get hit by it.  We can also offer to hold the purses of the dumb cunts who want to eat watermelon, such that their purchasing power becomes ours when they go splat.

Get it now, or are you too fucking stupid?

Tue, 11/23/2010 - 17:43 | 750640 tmosley
tmosley's picture

Your retort to the information that the "evil hand sign" used by so many famous people was that the inventor of the sign (she didn't invent that sign by the way, it was invented in the 70's, where she died in 1968) was a "theosophist", as if that somehow meant that anyone who uses the symbol was as well.  You never thought to use your damn head, and think, well, maybe the POPULAR meaning is "I Love You", and that is what these people mean when they use it, but instead you race to crazytown at Mach 3 and claim that its all some conspiracy.

But sure, WE'RE all the blind ones.  YOU are so smart holding on to those dollars.  So smart that you have lost more than 75% of your purchasing power over the last ten years when priced in metals.

Well, you just hold those dollars.  I pray that when you die, you are childless, such that your stupidity does not propagate, and such that your piss poor choices cause suffering for no-one but yourself.

Tue, 11/23/2010 - 17:58 | 750677 Dr. No
Dr. No's picture

If jdrose was a learned deflationist, jd's portfolio would contain gold.  John Exter's inverted pyramid, gold is the last asset class below paper currency.    But, from jd's implication how we are waiting to hit the inflation jackpot (by holding gold?) it would seem jd is in disagreement with Exter's pyramid. Do you beleive in holding gold in your portfolio JD?

Tue, 11/23/2010 - 18:19 | 750767 tmosley
tmosley's picture

Nothing, not even a brain.

Tue, 11/23/2010 - 23:52 | 751396 jdrose1985
jdrose1985's picture

never said my portfolio doesn't have gold,

nice try

Tue, 11/23/2010 - 17:59 | 750707 jdrose1985
jdrose1985's picture

Well let's see, precious metals are mere speculation. No different than rocks, really. Can I use gold as a tool to do something productive with like dig a post hole or build something? Not really.

Basically if you've been holding gold for the past ten years you've returned 400%. Well that's all fine and dandy but I've been recycling my dollars into my business and returned countless thousands of percent. While your cherished rocks sit there and become tarnished. Basically you're too stupid to do anything but let your precious rocks sit around. You're basically a retard who happens to be right about nothing important in the big picture of things

And in the meantime I continually purchase tools and put people to work to provide for their families. Basically being productive when I can and where I can.

So do you pray that before or after you pray to Benny to start dropping the promised cash? Becuase you really are a loser.






Tue, 11/23/2010 - 18:32 | 750781 tmosley
tmosley's picture

lol, you think precious metals investors just sit on their hands rather than working?  Also, try trading with rocks as currency.

You've rolled all that money and made thousands of % with your contracting business?  I thought you told me just the other day how you haven't had a job this year?  Yet now you claim you are hiring?  You are now eating your return from Bernanke's boom.  YOU benefited from the helicopters.  Soon you will have nothing.  The cash isn't raining down on you anymore.  It's all aimed at the bankers.  They are using the money to buy gold, silver, and commodities, driving up the prices of every single thing that you need.  In the meantime, my metals are appreciating at a rate that the return from them is close to exceeding my work income.

So who is the loser again?

If you want to open a profitable business, examine past hyperinflationary periods, and change your business to take advantage of the relative cash flows.  Food appreciates the most, followed by fuel.  Housing is at the very bottom, and generally doesn't move much at all.  

You make the terrible mistake of thinking that dollars are what people desire.  That is foolish--even children know better.  Dollars are a means to an end, and as the dollar weakens, their ability to achieve the ends you desire decreases.  Confederate dollars, Reichmarknotes, Zimbux, all worthless in that you can not trade them for what you really want, which is food, fuel, clothing, other material goods, and real property, in that order.

Tue, 11/23/2010 - 18:46 | 750815 jdrose1985
jdrose1985's picture

No, I never said I haven't had a job this year. I said there hasnt been one unit we've wired this year after 156 in 2007. That's fine, I manufacture custom entrance gates and arches which is a far higher return, about 1000% ROI per gate (that's only to build, not install) and that's giving people about a 50% discount over other manufacturers of these products.

I know dollars are what people desire you half wit. LOL. I'm not sure which planet you live on. How do people maintain their possessions without dollars? How do people purchase oil and commodities at global market?

One thing is for sure. You live on hopes and desires and are a complete slave to stupidity.


Tue, 11/23/2010 - 20:31 | 750984 tmosley
tmosley's picture

You have the reading comprehension of a cro-magnon.

I said people DON'T want dollars.  They want the things you can buy with dollars.

If all you want is dollars, I've got 100 trillion I can send you.  They are Zimbabwe dollars, and they used to be worth US$0.25 each.

Tue, 11/23/2010 - 22:15 | 751138 Dr. No
Dr. No's picture

I might sugest "The Austrian Theory of money" by Rothbard.  Its a free download

Tue, 11/23/2010 - 16:50 | 750450 erik
erik's picture

Yes, Ron Paul is evil.  Let's see, he is fiscally prudent.  He is against unnecessary warfare.  He doesn't want to be the world's policeman.  He is universally consistent over nearly 40 years now in his beliefs.  He believes in the Constitution...  wait, he's a Freemason?  Stop the presses!  I'm sure that is way worse than Skull and Bones or being buddies with "Kennyboy" Lay.

Tue, 11/23/2010 - 17:16 | 750538 jdrose1985
jdrose1985's picture

Nobody said he is evil besides you. Straw men not necessary with me.

Just controlled opposition to keep you impotent which is what you truly are. Kinda funny how well that is working. lol


Tue, 11/23/2010 - 17:30 | 750588 goldmiddelfinger
goldmiddelfinger's picture

Is it not a house of unrepentant buggery?

Tue, 11/23/2010 - 18:41 | 750805 erik
erik's picture

Oh no, not a personal dig from an internet tough guy.  Whatever will I do with myself. 

Controlled opposition, right.  Yeah, they sure controlled that entire movement really well.  Planted him right into the Republican debates which he promptly won according to post-debate polls.  I bet you would've said the same about Barack Obama until he got (gasp) elected.

Look, if you disagree with Ron Paul that is your choice.  I don't hear you making any argument against his positions and ideas.  Instead I hear bigotry and inferences.  Tell me why his ideas are bad or good.  That's true enlightening discourse.

Tue, 11/23/2010 - 17:11 | 750520 cdude
cdude's picture

Geez, aren't we beyond this already? Freemasonry  is an artifact; no longer a player in world affairs. Now, if RP was CFR we'd have something to talk about.


Tue, 11/23/2010 - 17:19 | 750546 jdrose1985
jdrose1985's picture

Sure, no longer a player. That's why the guy whose hand he's shaking (PJ O'Rourke) on bill maher show is a CFR member. LOL. better forget you heard that, too.

Tue, 11/23/2010 - 17:23 | 750565 tmosley
tmosley's picture

Let us not forget Ben Affleck, Lord of the Illuminus!

Or maybe Ron Paul just loved Mallrats:

Or maybe you are an idiot who reads too much into things?

Tue, 11/23/2010 - 17:38 | 750624 jdrose1985
jdrose1985's picture

Yep of course, the media machine which basically has turned you into a spineless sissy is probably just a harmless group of individuals just trying to be a positive influence of the world. Basically you are a product of that machine and you obviously will defend it no matter what evidence is pointed out to the contrary. That makes you delusional

Tue, 11/23/2010 - 17:43 | 750647 BlackThought
BlackThought's picture

had to log in to tell you that, you my friend are a fking dumb ass

Tue, 11/23/2010 - 18:01 | 750715 jdrose1985
jdrose1985's picture

Did your mother figure out the captcha for you? And how many attempts did it take you all?

Tue, 11/23/2010 - 18:36 | 750793 Sudden Debt
Sudden Debt's picture

I feel anger in your posts...

Didn't got laid last night?


Tue, 11/23/2010 - 18:15 | 750757 Arkadaba
Arkadaba's picture

+1000 - thanks Blackthought

Tue, 11/23/2010 - 17:45 | 750652 tmosley
tmosley's picture


jdrose1985 protect us with your dollars!

Tue, 11/23/2010 - 18:03 | 750721 jdrose1985
jdrose1985's picture

That's funny.

This coming from the piece of work who believes pretty much anything that comes out of Benny's mouth and actually marches in lockstep with the retard army who prays to Benny every night to help them hit the jackpot. Crackpots.

Tue, 11/23/2010 - 18:33 | 750787 tmosley
tmosley's picture

I am on public record that I would execute Ben Bernanke with an axe if given the chance.

Why don't you go somewhere where you are appreciated?  Or are you just a masochist?  

Tue, 11/23/2010 - 18:51 | 750823 jdrose1985
jdrose1985's picture

No you wouldn't. You're a complete loser. Ben Bernanke would probably take it right out of your hands.

Thats how pathetic you are.

Tue, 11/23/2010 - 20:38 | 750991 tmosley
tmosley's picture

Nice, no argument. No thought. Nothing. Just empty insults.  Yeah, tell me some more what I would do.  Tell me because you have somehow come to know me so well during our conversations, conversations in which you have never once presented a cogent argument, and have always inevitably resorted to empty insults to try to make yourself feel better after being shown that you do not know what you are talking about.

Talk about pathetic.

Tue, 11/23/2010 - 19:33 | 750888 velobabe
velobabe's picture

I am on public record that I would execute Ben Bernanke with an axe if given the chance.

i have a sword i will donate to you, T mosley. let's use a sword, Samurai style†

Tue, 11/23/2010 - 17:43 | 750642 BlackThought
BlackThought's picture

he's probably just an idiot. lol

Tue, 11/23/2010 - 16:31 | 750384 mule65
mule65's picture

Plenty of time for a green finish.

Tue, 11/23/2010 - 16:41 | 750418 goldmiddelfinger
goldmiddelfinger's picture


Tue, 11/23/2010 - 16:35 | 750385 etrader
etrader's picture

"Could this day get any better?"

Ms Drury rolled out in her "Soc Gen"  plunge protection top, to boost market confidence. :>

Another side note is one of the BBC reports highlighted Germany could roll out the deutsche mark while still honoring its eurobond contracts.

Tue, 11/23/2010 - 16:39 | 750386 etrader
etrader's picture


<Pesky double d post >

Tue, 11/23/2010 - 16:51 | 750452 SheepDog-One
SheepDog-One's picture

Harry, how'd that guaranteed snap back rally go today?

Tue, 11/23/2010 - 17:42 | 750639 RockyRacoon
RockyRacoon's picture


Tue, 11/23/2010 - 16:52 | 750459 erik
erik's picture

7 minutes to buy the dip or be priced out forever

Tue, 11/23/2010 - 17:14 | 750532 erik
erik's picture

on a more serious note, the close hath brought us news from junk bond land. new lows in HYG, down 1.4% today.

to be fair to the stock bulls, we should be down much more in the stock market correlation-wise considering EUR-USD and junk bond action.

GM closes within 1% of the IPO.

the 50 day moving average and technical zone from 1170-1175 loom large. 200 day sits a long way down at ~1130.

Spain, Portugal, Ireland and EUR-USD will likely guide tomorrow's trade. Durable goods will be interesting too.

Tue, 11/23/2010 - 16:57 | 750470 chistletoe
chistletoe's picture

3 minutes to resell the short or be locked out forever ...

Tue, 11/23/2010 - 17:01 | 750489 jory
jory's picture

Does this mean I should buy a golden nugget and shake in my boots all day?  LMFAO!!!!!!!!


Tue, 11/23/2010 - 17:04 | 750498 slaughterer
slaughterer's picture

Its time for a beer and some Robotrader girls. 

"Good work world.  My short portfolio thanks you."

Tue, 11/23/2010 - 17:44 | 750649 RockyRacoon
RockyRacoon's picture

Sounds like a plan to me -- for you, that is.

Tue, 11/23/2010 - 17:10 | 750511 Conceptwizard
Conceptwizard's picture

Speaking from personal knowledge. The freemasons have been dying for this country since its beginning, how many of you are planning on dying for this country that used to be free and now is owned straight out by the Basil Banking Cartel.

People are soon going to have to chose whether they want to live in freedom or die in slavery all over again.

Repeat, Rinse

Tue, 11/23/2010 - 17:15 | 750533 impending doom
impending doom's picture

Mmmmm... Basil.

Tue, 11/23/2010 - 17:13 | 750528 John McCloy
John McCloy's picture

The Fed is also now planning "Press Conferences". Well at least our defacto President will actually take some questions as opposed to the teleprompter.

  Meanwhile some fella Tony just said @ 4:08 with CNBC that " I will write you the shortest analysis there is..The man printing the money wants you to buy stocks so you buy stocks period"

  No word yet but evidently this guy has brunch with "All in" Tepper.

Tue, 11/23/2010 - 17:23 | 750556 Waterfallsparkles
Waterfallsparkles's picture

I do not think the Congress likes its power taken away by Mr. Bernanke.  Mr. Bernanke has gotten to big for his Britches.  He thinks he controls the World.  The problem is that he is impoverishing the American People with his inflation policy.  He is creating huge imbalances all over the World.  And now China is pegging to another currency. 

He is creating disruption all over the US and the World.  We are the (at least for now) the World Currency.  The World looks to the US to be stable and to be careful with the role as the World Currency. Yet, with Bernanke's actions we may lose that Privilege.  No one Man should have that much power.  Especially, one that was never elected and prior to being re appointed specifically said he would not monetize the debt.  He needs to be removed.

Tue, 11/23/2010 - 20:49 | 751005 Duffminster
Duffminster's picture

"The World looks to the US to be stable and to be careful with the role as the World Currency."

Sorry but that came to a screeching halt with the statists decided that we needed to have an accelerating rate of spending more than we taxed and Nixxon defaulted on our Gold obligations and the last vestige of responsible currency and sovereign spending and borrowing.

The other mistake goes back further in time to the creation of the Federal Reserve in the first place.  

Now we are stuck with QE to infinity because the Fed and other Western Central Banks only real concern is doing whatever is required to protect the largest primary dealer and member banks from imploding.  

Because the Toxic assets of the fraudulement bubbles created under casino securitization and other unregulated OTC derivatives activies has caused irreperable harm to the global balance sheets of the largest banks, and there is no sign of sufficient economic growth to cause the toxcity to exit the system, the only remaining tool left to the central banks is to QE until fiat currencies are sufficient to enable current mark to myth prices to be met.

FASB may have hidden the wound but the infection continues to fester and the Fed needs to do several things to keep the system from flat lining:


1. Keep the Stock market from cratering

2. Keep the bond market from cratering

3. Keep the job market from getting twice as bad or worse

4. Keep Fannie and Freddie from Dying and taking the US down with it.

There are at least 10 other items but unlike the Fed, I have other things to do.

In a nutshell, if the Fed can succeed in bring the dollars value down enough to stimulate substantial export growth from the US while also keeping the stock market rising and interest rates low and they can do so for lets say at least 5 years, wages should rise and jobs should increase enough to sell the houses at current Mark to Myth prices, banks will survive and the system will muddle through.

This is a proxy for what I believe Ben and Too Big to Fail Friends are thinking and government is hoping.   If Ben can do it, that is swell.  If not, its going to be a very very rough time for a lot of people.   Whether it works or not, I'm betting on QE to Infinity and Beyond.


Tue, 11/23/2010 - 21:19 | 751052 Shameful
Shameful's picture

You miss the other solution, have the CB and it's intermediaries buy the assets at par.  If the consumer is not capable of purchasing the asset the CB can do it for them.  The CB need not care about cash flow or ROI, or any such trivialities. It nearly needs to make numbers in a ledger and hand them out.  granted this is a weapon of last resort, but it is an arrow in the quiver.  We should all fear when Zimbabwe Ben starts buying everything that is not pinned down.

Hell if you want to double dip the crazy, the CB can buy at par, mark the asset to market and sell it back to the original holders at the lower price.

Tue, 11/23/2010 - 21:07 | 751035 earnyermoney
earnyermoney's picture

He's carrying out Obama's economic policies.

Tue, 11/23/2010 - 17:24 | 750569 All_In
All_In's picture

Off Topic: Does anyone know how to get a list of banks that are sound and not involved in derivatives, etc...I have a checking/savings account at Bank Of America and would like to place those funds in a more secure bank (note: I have PM's, but need some cash in bank accounts to pay bills), thanks!

Tue, 11/23/2010 - 17:34 | 750606 Panafrican Funk...
Panafrican Funktron Robot's picture

Regarding derivatives, I don't think most banks are 100% free of derivatives, but derivatives in and of themselves aren't necessarily bad as long as they're used properly as a hedge rather than as a way to chase yield. 


Tue, 11/23/2010 - 17:37 | 750618 All_In
All_In's picture

Thanks for the link.

Tue, 11/23/2010 - 17:38 | 750626 Panafrican Funk...
Panafrican Funktron Robot's picture

Also, keep in mind that online bill pay and other features are kind of like getting the chips and salsa at the mexican restaurant, it's a great way to lull you into committing the actions that lead to the subsequent gastrointestinal distress.  Most stuff can still be bought with cash, cashiers checks are pretty cheap to obtain at many grocery stores, a good, solid safe is relatively inexpensive to obtain, etc. 

Tue, 11/23/2010 - 18:15 | 750760 RacerX
RacerX's picture

They don't call him Dennis the Menace for nothing!

Tue, 11/23/2010 - 20:06 | 750950 sbenard
sbenard's picture

Neo-con Charles Krauthammer said just minutes ago that he's worried that Ron Paul may interfere with the independence of the Fed. I'm worried he WON'T interfere ENOUGH with the independence of the Fed.

Tue, 11/23/2010 - 20:09 | 750955 israhole
israhole's picture

"Could this day get any better?"-TD


:)  You got that right!  Especially for the week of Thanksgiving.

Tue, 11/23/2010 - 20:30 | 750982 Buttcathead
Buttcathead's picture

S&P 400 seems like the next support level.

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