Gold Explodes After Bernanke Gives QE2 Green Light: "Sees Case For Further Action" (Full Gospel Included)

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Fri, 10/15/2010 - 08:24 | 652257 John McCloy
John McCloy's picture

Ben QE 2 is nonsense. Are you really going to transfer more wealth to thieves?

You want inflation then just  send each family a check for 100k.

Fri, 10/15/2010 - 08:29 | 652271 the not so migh...
the not so mighty maximiza's picture

BINGO!!!!!!!!  Its not that complicated to create inflation.

Fri, 10/15/2010 - 09:11 | 652376 scatterbrains
scatterbrains's picture

Would someone with chart posting privledges mind posting and interpreting the gold chart in the link below for me ?

thanks my peepols

 

http://ttheory.typepad.com/files/sanjeevltgold-adjusted.pdf

 

Fri, 10/15/2010 - 09:25 | 652460 caconhma
caconhma's picture

Ben is an incompetent idiot. He is about to destabilize US political environment and social stability. The consequences? Only God knows.

Fri, 10/15/2010 - 09:38 | 652490 bada boom
bada boom's picture

Ben is acting in his shareholders best interest.

Fri, 10/15/2010 - 10:22 | 652608 Cognitive Dissonance
Cognitive Dissonance's picture

It is sometimes more comforting to think of someone as incompetent than to ackonwledge that their actions are malicious and deliberate, thus infinitely more dangerous to you and your worldview.

Fri, 10/15/2010 - 10:26 | 652622 bada boom
bada boom's picture

Sometimes it is best to pick a fool to do your nasty deeds.

Fri, 10/15/2010 - 10:26 | 652626 LowProfile
LowProfile's picture

Do you really need someone else to interpret that for you?

OK, here you go:

Buy gold.  Lots of it.

Fri, 10/15/2010 - 08:47 | 652307 dlmaniac
dlmaniac's picture

"Too low inflation."

Translate: Too frustrated that I'm not able to steal your money fast enough.

Fri, 10/15/2010 - 10:25 | 652618 Cognitive Dissonance
Cognitive Dissonance's picture

Translate: Too frustrated that I'm not able to steal your money fast enough.

Or maybe too frustrated that they might not be able to keep the Ponzi going long enough to steal all that we own. Remember, it's not the "money" they want to steal, but what our money has "bought" that they wish to (re)posses.

Money can be printed, tangible assets can not.

Fri, 10/15/2010 - 08:49 | 652313 Sudden Debt
Sudden Debt's picture

only a 100K?

Why not 880K? Or only if you have 9 kids?

better take out that old black book and make some calls, you knever know if you have more offspring walking arround without knowing :)

Fri, 10/15/2010 - 09:13 | 652397 CulturalEngineer
CulturalEngineer's picture

The Fed and QEII specifically are welfare for the rich... that'll do nothing for everyone else except further destroy what's was left of the rule of law and faith in government...

All to protect an unsustainable Wall Street centric status-quo...

The only defense they can assert... and its a fair one... is that "all we have is a hammer so we use it!"...

And we have that situation because the political class has long abandoned any concern for responsible law and regulation in favor of campaign contributors who are reaping the fruits of their corruption... THIS is the BIG welfare that's been going on for the last few decades.

What's truly sad is that Authoritarianism has a long history and the theft and corruption of good self-government by those entrusted with leadership imperils the slow gains made by the common man since the birth of the Enlightenment

Personal Democracy: Disruption as an Enlightenment Essential

http://culturalengineer.blogspot.com/2010/06/personal-democracy-disrupti...

 

Fri, 10/15/2010 - 10:47 | 652690 JR
JR's picture

“The Fed and QEII specifically are welfare for the rich...that'll do nothing for everyone else except further destroy what was left of the rule of law and faith in government...” - CulturalEngineer

The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again.”  Sir Josiah Stamp (1880-1941) President of the Bank of England in the 1920's, the second richest man in Britain

“If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn’t have, as banks can do

“Only commercial banks and trust companies can lend money that they manufacture by lending it.” – Professor Irving Fisher, 100% Money (1935)

“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” – John Kenneth Galbraith, Money, Whence It Came, Where It Went – 1975, p15

Fri, 10/15/2010 - 09:14 | 652405 Apophis
Apophis's picture

 

I wish someone would throw a shoe at him.

Fri, 10/15/2010 - 10:12 | 652583 still kicking
still kicking's picture

maybe if that shoe was the size of a small grapefruit and came with a metal pin you pulled out before you tossed it and it went boom when it landed.

Fri, 10/15/2010 - 10:36 | 652654 oddjob
oddjob's picture

Do they make Kosher shoes?

Fri, 10/15/2010 - 09:40 | 652501 potatomafia
potatomafia's picture

Yes, but that would mean that each family is not enslaved to the 100K in debt... 

Fri, 10/15/2010 - 10:40 | 652664 stollcri
stollcri's picture

He can't really do that can he? The legislature would be the ones to do that sort of thing, right?

Fiscal policy might be a better tool than monetary policy, but unfortunately fiscal policy is in the hands of the politicians. The politicians would rather shout at the Fed for screwing things up than actually doing anything for fear of not getting reelected.

I give Dr. Bernanke credit. The ship is sinking and no one wants to do anything for fear of being blamed; he steps up and does what he can, even if he knows there are others who would be more suited to the task at hand.

Fri, 10/15/2010 - 13:54 | 653430 Troublehoff
Troublehoff's picture

You want inflation then just  send each family a check for 100k.

 

But he wants stagflation. Mortal people's standard of living must fall for all of this to work and their pensions and paycheques  must make nominal gains so everything looks tickety-boo :)


Fri, 10/15/2010 - 08:25 | 652258 HelluvaEngineer
HelluvaEngineer's picture

F&cking madman needs to be arrested for treason

Fri, 10/15/2010 - 08:28 | 652268 SteveNYC
SteveNYC's picture

Agreed, this guy just has no fuckin clue. When/if people actually catch on to the fact that all QE2 is is merely a wealth transfer mechanism from the many to the few, than it's all over the for Fed and EVERY politician that has endorsed this lunacy.

Printing money to get the slaves back to work....for less. Change you can believe in.

Fri, 10/15/2010 - 10:28 | 652629 Assetman
Assetman's picture

Steve... I very much agree on the weath transfer sentiment.  We are all essentially being taxed in order for the benefit of adding reserves to the banking system, and of course, provide a way for his friend Timmy to cheaply monetize Federal debt.

But don't think for a minute that Bernanke has lost a clue.  He knows exactly what he's doing and why he's doing it-- he probably even knows in the long run it isn't going to work.  Stealing from the masses to provide artificially low rates is really good for the segment of the population Bernanke serves.  You may not like it.  I may not like it.  But, we elected professional politicians that approved his re-nomination.

Fri, 10/15/2010 - 08:31 | 652278 Jake Green
Jake Green's picture

I concur. Ben has just condemned billions of people to hardship and despair.

Fri, 10/15/2010 - 08:43 | 652297 eigenvalue
eigenvalue's picture

No, Bennie is a good man. Without him, you will never have life opportunity in precious metals and agriculture products.

Hail, Bennie the Magnificent!!!

Fri, 10/15/2010 - 08:27 | 652261 101 years and c...
101 years and counting's picture

Inflation is too fucking low?  What a worthless piece of shit.

PPI was .4% in Aug and .4% in Sept.

 

Fri, 10/15/2010 - 08:50 | 652318 Sudden Debt
Sudden Debt's picture

he means that inflation isn't up to 10.000% yet.

Fri, 10/15/2010 - 08:27 | 652263 Catullus
Catullus's picture

Added Bernanke: "We simply are not seeing the results in the numbers we plug into our models that we're robbing the middle class at an acceptable rate as determined by my fellow Keynesian navel gazers."

Fri, 10/15/2010 - 08:29 | 652269 cossack55
cossack55's picture

"we plug into our models".  Road to Roota?

Fri, 10/15/2010 - 09:14 | 652407 Catullus
Catullus's picture

If they saw a greater increase in their models, then social security might have given a cola increase.

Nope now it "not enough inflation to give cola" and "we're committed to higher inflation". So maybe my above statement was wrong. It's nor just middle class, it's pensioneers and people on the dole.

Fri, 10/15/2010 - 09:17 | 652426 Dr. No
Dr. No's picture

COLA doesnt matter.  Pelosi is introducing a bill to give SS receipients a $250 check to make up for COLA.  The government is imploding; they dont even trust themselves anymore.

Fri, 10/15/2010 - 08:27 | 652264 cossack55
cossack55's picture

Gonna get a bottle of Dom just for this assholes air dance party. Yippee. 

Fri, 10/15/2010 - 09:09 | 652375 Jake Green
Jake Green's picture

Yeah, the hookers and blow dealers are celebrating as we speak - the bankers just had their 2011 bonuses guaranteed by the bald one.

Fri, 10/15/2010 - 08:29 | 652272 I need more cowbell
I need more cowbell's picture

No bigger gold bug than I, purely defensive play to defend some semblence of value, but your headline should read gold explodes relative to dollar. Other non -dollar pegged fiats, not so much.

Fri, 10/15/2010 - 08:29 | 652274 Troublehoff
Troublehoff's picture

Shiny Yellow Stuuf, Female Dogs.

Fri, 10/15/2010 - 12:00 | 652966 Pituary Retard
Pituary Retard's picture

Spell Check: "Doggz"

Fri, 10/15/2010 - 15:15 | 653647 akak
akak's picture

Element #79, Females of loose morals!

Fri, 10/15/2010 - 08:30 | 652277 Spartan
Spartan's picture

The Fed should just buy Oil futures directly that would get inflation moving....

Fri, 10/15/2010 - 09:04 | 652360 hedgeless_horseman
hedgeless_horseman's picture

That is a bingo!

Fri, 10/15/2010 - 13:57 | 653438 Troublehoff
Troublehoff's picture

I'm pretty sure they are

Fri, 10/15/2010 - 08:31 | 652281 Dapper Dan
Dapper Dan's picture

Chart caption: Good morning Woody!

Fri, 10/15/2010 - 09:08 | 652367 Cognitive Dissonance
Cognitive Dissonance's picture

And just as quickly the price of Gold hits prior resistance and immediately goes flaccid, then drops further.

I suspect all those stealth disavowed Gold sell programs were primed in anticipation of this speech. Can't have Gold going parabolic when Bernanke is blessing QE 2 thru 10.

Fri, 10/15/2010 - 09:54 | 652532 Abiggs
Abiggs's picture

C:\Documents and Settings\bloomberg\Local Settings\Temp\Bloomberg\Temp\bfm394.gif

So much for the gold/eur explosion

Fri, 10/15/2010 - 11:16 | 652791 GoinFawr
GoinFawr's picture

I think you may be lacking image posting privileges there Abiggs...

Fri, 10/15/2010 - 13:58 | 653442 Cognitive Dissonance
Cognitive Dissonance's picture

Yeah, but now we know where he keeps all the good stuff on his computer. Begin operation "hack Abiggs".

Fri, 10/15/2010 - 08:31 | 652282 Hansel
Hansel's picture

Hooray for dumbasses with an econ phd.  Now people just need to stop selling him assets for his made-from-thin-air digital chits.

Fri, 10/15/2010 - 09:13 | 652401 Steak
Steak's picture

Hansel, forgive me for jumping on your space here.  If you object I will accept the challenge of a walk-off :D

i have a feeling that something appealing to mainstream tastes will not be terribly appealing to folks here.  well this is the chance to put that to the test: a playlist inspired from my little sister's itunes.  i present a grab bag of jam bands, hipster rock, sad songs, old songs and rap.

coisas da irmã (a playlist): http://www.youtube.com/view_play_list?p=B66475A34C59B734

Fri, 10/15/2010 - 10:31 | 652641 MsCreant
MsCreant's picture

Sampled the first 13.  

passion pit-sleepy head. Me likes. Trippy. Listened to the whole song.

The rest, not so much.

Fri, 10/15/2010 - 08:39 | 652284 jbc77
jbc77's picture

Golds not explodding....it's down isn't it?

Dollar doesn't seem to be plunging.....yet.

 

Fri, 10/15/2010 - 08:40 | 652285 Sudden Debt
Sudden Debt's picture

Benny B. takes the dice...

AND THROWS LADIES AND GENTLEMEN!!!

 

SNAKE EYES!!!

Fri, 10/15/2010 - 08:40 | 652286 eigenvalue
eigenvalue's picture

Gold and silver are down and hit the intraday low!!

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