Guggenheim's Scott Minerd Discusses QE3... And QE4.... And QE5

Tyler Durden's picture

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oh_bama's picture

YES! BEN! Just DO IT!!


SDRII's picture

But Kan says the BOJ can not explicitly buy JGBs

Ivanovich's picture

Just curious.  Where is this "decline" in inflation going to come from again?  Producers are quick to raise, but take a long time to lower.  Just saw a note come through today - Skippy Peanut butter going up 23% on average as of next month (thanks Unilever). 


NOTW777's picture

laughable to watch crude plunge and yet gas prices stay the same or tick down a penny or two

nope-1004's picture

The morning after the 100% fraudulent silver take down by the bankstas and Fed, I posted that it basically was an indication that QE3 is coming.  I still believe so.

Basically, why the need to take down commodities so hard if QE3 were not going to pass, because surely everyone can see that if no QE3 were coming, commod's and stocks would naturally and sharply correct.

But here we have ponzinomics at work.  Ben Bernanke is a 100% manipulative, lying, fraud.  They took down silver, instituted unprecedented margin hikes in all areas, to give them the leg room to print and lie and print and lie.....

It's all good 'till she blows up.  And it will.  When it does, I'd like to see how he squirms to protect his "legacy", whatever that illusionary farce may be in his mind.


Pegasus Muse's picture

Legacy?  He better be squirming to protect his damn neck from the noose he surely will be facing.  Right alongside him will be a slew of banstas, politicians, and regulators. 

OT:  Just watched this excellent video.


A Mises Media Classic: Money, Banking and the Federal Reserve

Wednesday, May 18, 2011 – by Mises Institute

Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans-Hermann Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.

Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.



Pete15's picture

fuck thats genus love Zero Hedge!! (no sarcasm)

buzzsaw99's picture

You confuse reality with perception. Haven't you been watching enough msm?

Attitude_Check's picture

Remember food price rises "don't count" as official inflation!

alexwest's picture

# could view Japan as an imperfect but relevant precedent for further #quantitative easing.


WHAT A FUCKED MORON... he seems need a place to chill.. i think
there's free cell next to DSK..


I am a Man I am Forty's picture

no shit, using japan as a fucking guide post is dumb, japan is his fucking monetary mentor, lmao

NOTW777's picture

"What would be Mr Bernanke’s motivation to endure the political fallout of QE3? The same motivation for QE1 and QE2: namely, stimulating growth to help employment recover."

except that more and more people are waking up to the reality that the ponzi does not help them.  i think the experts who keep preaching more QE is a slam dunk may be the ones in for a surprise.  QE has not helped employment recover.

RobotTrader's picture

PM's are pricing in an immediate end to QE2.

LNKD, well, that's another story.  Looking very strong.

Maybe we should see which stock closes higher by the end of the year:

Newmont Mining, or LNKD???

firstdivision's picture

LNKD will act as GM did, just with a shorter timeframe.  GM levitates by gov't mandate.  LNKD will go up 50% then fall like a rock.

I am a Man I am Forty's picture

was looking to purchase some put options for LNKD this morning but couldn't find any

SheepDog-One's picture

Well Robo maybe we should hear YOUR position youve taken in these cherry picked equities youre preening over! How many shares/price of LNKD do you have?

lizzy36's picture

I look forward to a future post (2012) about how Kermit the Frog, The Ruler, and a Straight line predicted S&P 2800 (by 2013).

reload's picture

The same motivation for QE1 and QE2: namely, stimulating growth to help employment recover.




probably right though in that QE to infinity/destruction is still the agenda - there is no plan B. The last fork in the road has been passed. 

SheepDog-One's picture

This is all BS, when EVERYONE has already factored in QE 25 as a done deal, Im betting we dont see any more of this crap we'll see nation wrecking events soon instead. 

bigwavedave's picture

Tyler, with the utmost respect, there is only 1 reason for QE past and future. The fiscal abdication of responsibility by this and previous administrations. Way too much of your time (and other commentators) look at the data de jour instead of realizing what QE achieves.... negative rates to rob savers + a buyer for no longer bid treasury paper. The 'Economy' has nothing to do with it because the economy is transitory.

Temporalist's picture

Hey BWD good to see you here Hangin' 10.

Boston's picture

Unless, of course, the Fed serves up more of its monetary elixir, which is why I believe the end of QE2 in June is nothing more than a pause to watch what happens in the real economy.

Exactly.  The point is that the Fed will at least PAUSE.  And during this pause, the most markets will have a heart attack, except for ONE market---the US Treasuries, which could rally hard right up until Bernanke drops the QE3 hint.

Look for the 10 year T-note to got sub-3.0% by July.

kito's picture

just not true. markets are forward looking. end of qe is next month, fed will have finished up its puchases 200 billion under, and markets have shrugged it off. the drop, which we all thought was happening last week, didnt happen.

Boston's picture

QE1 ended March 31, 2010, and the shit hit the fan in late April and early May (eg Flash Crash).

So we need to wait a bit more.

Attitude_Check's picture

The FED will use the economic "slow-down" due to a "pause" of QE and all the dust-up over debt-ceiling issues to play-out this summer.  Then use the bad numbers to justify a direct QE 3 this fall.

trainrobbery's picture

At some point the name "QE#" will become unpopular because people will relize that it just doesn't work.  I think they will soon call it, "Ben's pathway to Freedom" or something like that.  Then he will run for President so that he can increase stimulus...First Fed Chairman/President of the United States!  Hail the king...

Tuco Benedicto Pacifico Juan Maria Ramirez's picture

How about "Patriot Easing"!


Tuco Benedicto Pacifico Juan Maria Ramirez

Re-Discovery's picture

Get the thesis.  Think it's sound, and given that Fed (knuckle) heads love the "wealth effect", I think that there is little chance they risk cashing the equity markets.  Just look at the ES margin requiements in relation to commodities.  There will be information that trickles out (already has) that Fed will be very active with other mechanims that keep the cash flowing.

On another point, I think your typo "econom" has real potential as a descriptive title for pundits who discuss economics without being economists.

"Liesman, CNBC's resident econom"

"Cavuto, Fox's econom"



slewie the pi-rat's picture

if we study the econom to learn about human behavior [ourselves] thru experiment, then the conventional wisdom would seem to indicate that we aren't learning much, at all. or, we keep changing, and wrecking the experiments, no matter what.

when we answer a poll or a survey, our conventional anarchy causes us to reject any norm as bias.

so, people now invariably lie on polls and surveys.

we want to beat the goobermint to the falsehoods.

this leads to what we have now---advanced galbraithian econom miZ-be-havin.

slewie's corollary states that if we were to just stop trying to avoid pain, suffering, and death, the conventional wisdom regarding econom downturns would give our investments a chance to perform more teleologically.

Dreadker's picture

Modelling the US future on Japan is like comparing yourself to Hitler and saying you're a good person...


WTF mate!

Arius's picture

the rise in PMs might reflect other issues such as geopolitics, unstability, the role of PM as monetary instruments...which means the case for more QE can be made even in environment of rising PMs...

in reality - at the end, i suppose QE to infinity is needed to buy all the paper, which is irrelevant to how one justifies it existence and continuation...i am just throwing some ideas on how to justify it... 

firstdivision's picture

Wow, to say that our Fed should act more like BOJ is rather hilarious.  I guess Mr. Minderd would like us to have three decades (with still no end in sight) of stagflation with periods of deflation.  In reality I would say the BOJ is a good example of how not to act.

SilverDoctors's picture

This is what will result from QE3, 4, 5, ^n..

Living Through a Currency Devaluation

Tense INDIAN's picture

I think the ULTIMATE battle is in the FX kingdom......their Ultimate GOAL is to devalue all the that they can bring in their OWN one world currency ....and the people holding these worthless shits of paper will become so desperate that they will do anything commanded by the QE to infinity looks more th case...



Fortunes Favor's picture

The QE3 debate is just a head fake. Here is the set up for Fed Three Card Monty come June @

SheepDog-One's picture

Did any of these experts now factoring in QE 3,4,5 etc ever guess there would be a QE1? No, none of em did. Theyll all be snatched upside down in a trap real soon. World events are about to spin out of control.

SheepDog-One's picture

I dont buy it, the perpetual QE done deal nonsense. Looking at other things, we're about to see waves of false flag attacks, weather disasters, etc all over the country markets will just be shut down and the doors to the casino will be locked.

Temporalist's picture

You don't think all those "events" you mention will bring about more magical mystery money?

SheepDog-One's picture

No, people will just be separated from their paper 'assets'.

RobotTrader's picture

Another new high for AXP and COF.

Chris Whalen must be pulling his hair out.

RobotTrader's picture

Another new high for Starbucks.

Hard to be bearish when consumer stocks keep making new highs.

I wonder how Gerald Celente feels.  Probably getting even angrier.

Problem Is's picture

Every day the Bernanke Buck is devalued... it takes more Bernanke Bucks to buy a share of Starbucks or a gallon of gas...

Gerald Celente laughs at twats like you that cannot distinguish that obvious fact...

Seacap81's picture

It is now a huge mistake for "conventional wisdom" to believe all upward pressure on grains is transitory and only a result of QE,.....we now have strong fundamental reasons to see grains moving higher.  I can only imagine the gasoline thrown on this fire being QE3.  Lookout!!! 

youngman's picture

Philly Fed just crashed...more on unemployment..more on Foodstamps...billions for Egypt and Lybia....someone has to print the cash...the question is when will it break....what moment or incident will send the dollar crashing...and hyperinflation in full speed....people are playing Lynkdin today...playing is the key Rome is surreal...

Franken_Stein's picture



You nailed it, man.

Imminent Collapse's picture

+1 youngman. 

One other thing - the financial debacle is racing to be the first collapse, but any number of other things could expode first.  We teeter on the brink.

Not to worry, though.  Nothing changes until you hit the wall.  Then everything does.