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Watch Today's 2:15 pm FOMC Press Conference Live And Interruption Free Here
While today's 2:15 pm FOMC press conference is still some time away, it is never too late to reserve your seats: the conference will be presented below live. We will liveblog the event in the off chance Bernanke says something that may be even modestly unexpected, such as the truth.
In case anyone is still confused about what is going on:
Chairman Ben S. Bernanke will hold press briefings four times per year to present the Federal Open Market Committee's current economic projections and to provide additional context for the FOMC's policy decisions.
In 2011, the Chairman's press briefings will be held at 2:15 p.m. following FOMC decisions scheduled on April 27, June 22 and November 2. The briefings will be broadcast live on the Federal Reserve's website. For these meetings, the FOMC statement is expected to be released at around 12:30 p.m., one hour and forty-five minutes earlier than for other FOMC meetings.
The introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve's monetary policy communication. The Federal Reserve will continue to review its communications practices in the interest of ensuring accountability and increasing public understanding.
Live link. We have picked a green frame border for obvious reasons.
Updates:
- FED RAISES ESTIMATES FOR 2011 CORE INFLATION TO 1.3%-1.6%, WAS 1.0%-1.3% BEFORE
- FED REDUCES GROWTH OUTLOOK FOR 2011, SEES TRANSITORY INFLATION
- FED POLICY MAKERS SEE 3.1% TO 3.3% ECONOMIC GROWTH FOR 2011, WAS 3.4%-3.9% BEFORE
- FED FORECASTS HEADLINE INFLATION OF 2.1% TO 2.8% THIS YEAR
The Chairsatan speaks.
Supposedly, despite the drop in the economy, Bernanke still sees strength in the employment trend.
Bernanke's voice sounds like a Stradivarious tremollo.
Bernanke remains confident he can tighten whenever needed. When the tie for tightening comes, he will consider both parts of his dual mandate. Nothing about the third mandate.
Bernanke expects Q1 GDP of under 2% but believes slowdown is
"transitory", factors are the "weather", weaker construction, and "less
momentum"
On how Bernanke's policies are destroying the middle class: we care about low inflation and attracting foreign capital to boost the dollar. Pinocchio is spinning in his grave.
What will the Fed do on surging fuel prices? A.Gasoline prices have risen quite significantly. This is a bad development (and an understatement). All of the increase in demand for oil has come from emerging economies. On supply side we have disruptions in MENA, which has driven gas prices up. All of the increase in the inflation forecast comes from the jump in gas prices. Nothing the Fed can do about surging gas prices without detailing growth. "The Fed does not print oil." But Fed will try to stop pass through costs from rising (whatever that means).
How is Fed working to create sustained job creation? A. Labor market is improving. Must make sure it is sustainable. Is encouraging to see improvement in recent months, although pace is quite slow.
Is there anything the Fed can do to prevent the public from believing higher inflation is coming? A. The inflation expectations we are worried about are medium term. In the indexed bond market see near-term inflation expectations rise significantly, but "for the most part" it is fair to say medium term expectations have not moved very much, and "indicate confidence in the Fed." In the short run can communicate what our policy is attempting to do, and what steps we are willing to take. If inflation persists, there is no substitute for action.
What will be the impact on the economic recovery when QE2 ends? How long with the Fed continue reinvestments? A. Will complete program without tapering. End of program is unlikely to have effects on market or economy. We hope to have telegraphed what we are planning to do. We subscribe to a stock view of securities purchases, which means that what matters is not the pace of ongoing purchase, but size of portfolio of Fed holdings. The amount of securities will remain constant so we don't expect an adverse effect from halting QE2. As for ending reinvestments will base decision on evolving outlook.
QE2 appears to have been ineffective. Can you end the program in June with unemployment rate still at 9%? A. I do believe QE2 was effective: we saw that first in the financial markets: we saw increases in stock prices, and reduced spreads. You would expect that based on decades of economic data that easing financial conditions would lead to easing economic conditions [but have not]. The conclusion that QE2 has been ineffective is wrong as it did the things it set forth to do. The trade offs are getting less attractive at this point. Unclear we can get improvements in payrolls without additional inflation risk, and if we are going to do a sustainable recovery, we need to keep inflation under control.
Can Fed effectively reduce long-term unemployment? A. LT unemployment is the worst it's been in the post WWII world. More people are unemployed for over 6 months than ever. Blah Blah Blah.
Do you think the US will be downgraded? A. This event [S&P warning] will provide one more incentive for congress to resolve the fiscal US problem. It's constructive.
Isn't it possible that the Fed's policies could be providing the reason for inflation? A. We don't view our policies as different from ordinary monetary policy. Problem is chosing the appropraite path of tightening, we have lots of experience in doing so? [Oh really, how many times has the Fed actually tightened under Bernanke's control].
What do you think will happen to the dollar? A. It will eventually rebound. Next question.
Some question about Rogoff and America's imminent bankruptcy. Same worthless answers.
This whole conference has been a complete and utter disappointment, and a disgrace for the jouranlistic profession. All the "reporters" who were there and asked the completely irrelevant questions they did will not be forgotten.
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As a quick aside, it was funny to hear this morning on CNBC that Kernen has referred to Liesman as "Yuri," considering Steve's seven years spent in the former Soviet Union. Yuri has certainly improved upon his Pravda-esque propaganda dissemination skillset.
Yuri Liesman. It has a certain ring to it.
This long winded nonsensical explanation of a currency he's hell bent on destroying. Thanks for the nonstatement asshole.
Transitory inflation! Is that what my health insurance reflects - a 22.9% premium increase just received on a $7000 deductible policy?
That increase is indeed transitory - - wait until next year's!
Tyler, You should be there asking questions. Particularly after the Reuters guy.
~Misstrial
Q3
we believe the world is fucked and needs the us dollar.
we, the fed, your masters, creators, and controllers will pursue our dual mandate of fucking you in the ass and not giving you a reach around, respectively.
to emblazon this paradigm - i now coin (and merriam webster knows this only after me) the 'safe haven effect', much like the wealth effect.
we know central banks are more powerful than the free market, and now you do too.
Did he use the term "You people" ????????
Regarding using gas to drive ??
LOL
I heard it!!!
Yup, you people.
Ben's helicopter is hydrogen powered.
The Ben Bernank sounds like a second hand car salesman trying to sell a HUGE piece of junk.
"The fluctuations (in the Dollar) are caused by the "safe haven effect." Hahahaha!
LOW INFLATION!!! where Benny?? been watching too many british model's breasts??
Not sure why Jon Hisenrath had to identify himself to Bernanke given his role as the official mouthpiece for the Fed?
Ben: "Higher gas prices add to inflation"????? WTFOVER?
Mr. Chairman...
Thanks, Steve
(Steve Liesman - whose economic credentials consist of a one year journalism program at Columbia, preceded by a 3 year arts degree at Buffalo State College.)
The peasants are upset that their most basic needs are being jacked in prices and now Benocide is trying to explain very poorly that it's not his fault. Awwww how cute he almost is trying to empathize with the peasantry that he's trying to kill off economically it's almost like Hitler feeling a little pain for those Jews he slaughtered.
"you people need to drive to get to work".... Who you calling 'you people' lol
The WSJ outs the elitist Chairsatan...
"you people" need to drive to get to work.....Amazing.
And absolutely no correlation between the weak dollar and oil prices but......if the dollar is weak, talk to Tiny Tim as it's not my problem...
What a fucking charade.
.
I just heard this man, with a straight face and in utter conviction, project inflation rates in 2012 and 2013.
Be very, very afraid.
Q4
i will now demagogue the gas price issue and throw in some catch phrases like 'double whammy' to make you feel comfortable and relate to you.
we, the divine few, despite knowing gas prices are at a record low, know you do not know this and will act like we can maybe do something but will end up demagoguing for a few more minutes until the next question.
Boy, is he nervous, listen to his voice quiver.
And...he's passing the buck (pun intended).
He's getting worse as well with every questions... maybe he'll implode by the end of it all... we can but hope lol
print more oil please
"the fed can't create more oil" hahhahahahhahaha
What a douchebag.
So what is it O'banke (Obama + Bernanke)?
Are high gas prices because of speculators or strong global demand? Or should we take our pick on any given day?
Whatever it is, it can't be monetary/fiscal policy? NNNoooo way. Can't be that stuff.
Great observation....mirrors aren't allowed at Court.
There is no inflation. Read my lips "No Inflation". Go eat less and stop driving so much and let me save the world.
Q5
'as we stated'
'that being said'
'clearly'
'right direction'
'continue'
Barbara Walters told him to use You People instead of The Little People
"The labor market is improving gradually, as we report in our statement..."
What statistics is he reading? What about the millions who have dropped off the unemployment calcs because they've run out of UE payments ("99-ers")?
Apparently, no part of this FED is securely wired to reality - their signals are scrambled, no wonder they're acting as they are.
"Is there anything the Fed can do to prevent the public from misconstruing inflation is higher than it is?"
Was that the fucking question?
Cover the price tags.
"We do not print oil, but we sure as hell the print the stuff it is denomiated in-- so in effect we are creating higher oil prices but I don't care about the peasants they don't buy my books, nor will hire me later for consulting jobs and so how productive and necessary are these peasants to the overall economy? I'm doing them a favor by removing them from being 'counted'."
YET NO FUCKING QUESTION ABOUT BUDGET DEFICIT / DEBT LIMIT
JUNK JUNK JUNK
ALX
Nothing but softballs... what a joke.
After watching the first 20 minutes, my recommendation is to: buy gold, silver and lead.
"for the most part"
"reasonable"
"consistent"
"our policy is attempting to do"
wallet in your mouth here it comes...
Who was that little girl with the big schnoz.
She was running the Treasury's bake sale and they grabbed her to read a softball question
The Bernank sounds nervous. I don't blame him. He just said gas prices are not going to continue going up. He also said that gas prices are a necessity because people like us need to drive to work. What does he do to get there? Maybe he meant that we have to PAY for the gas we use to drive to work.
- 04-27 14:40: McDonald's (MCD) to hire 50,000 employees in China, Shanghai Daily reports
SweetQ6
the mcl, or mandated consistent level, is something only we know how to calculate with our abacusses, and inflation is essential for your survival; so long as the mcl is respected and bowed down to you will be spared.
"the markets have well anticipated our continued put writing, don't worry, thank you".
just a sudden end to bond purchases
It's the SIZE of your portfolio.. not how you use it...
The Bernank has scrambled eggs for brains, listen to the guy.
'Ceasing monetizing everything in sight will have no effect on monetized markets'
One for the future most hillarious quotes of all time!
What?? monetary easing to continue from June. ? Did I hear that ???
Freudian slip !
This is a train wreck !
This is just another extension of the same old bullshit-- what non-event if I wanted to hear the same lies and bullshit I could've read this a long time ago.
Listening to this idiot you have to feel sorry for those who actually believe he's doing the right thing. May they soon wake up to the bullshit that is being spewed out of his retarded mouth. Otherwise, they do no better and deserve to fall with the chairsatan.
HAHAHAHAHAHAAAAAAAAAAA
Monetary easing will NOT remain constant based on MBS repurchases based on the falling USD you've caused, you fucktard.
Q7
pertaining to our (in)securities holdings, nobody is allowed to know what we intend to do, except the market, which can anticipate our actions fairly well.
here i present fluff shrouded in ambiguity with delicate terms like 'approximately' and 'i suspect'.
whether you suspect i am suspect, i do not care since lightning bolts shoot from my nose.
Bens voice quivering wildly like a geek surrounded by the football team in the locker room.
Actually he sounds like Paulson in the waining days of his tenure...
ive been playing this clip http://www.youtube.com/watch?v=7sei-eEjy4g&feature=related
and streaming the berstank at the same time
it matches like dark side of the moon and the wizard of oz
awesome
Q7
pertaining to our (in)securities holdings, nobody is allowed to know what we intend to do, except the market, which can anticipate our actions fairly well.
here i present fluff shrouded in ambiguity with delicate terms like 'approximately' and 'i suspect'.
whether you suspect i am suspect, i do not care since lightning bolts shoot from my nose.
If anyone knows someone who is a professional at reading body language please get them to watch this and give us their opinion. Is he lying his ass off or is a sniper in the back of the crowd waiting to take him out if he says something wrong.
LOL! +100.
I am watching those eyebrows !
Wow !
Policy tightening coming...
Key words in the entire press conference
The benefits of securities purchases are starting to outweigh the gains as inflation from monetary policy will begin to curtail job growth.
Basically what I have been saying. The Fed does not lie about the dual mandate inflation and employment.
Potential dead cat bounce on silver
61.8 % Fib retracement from 49.87 high to 44.80 low.
Going to watch the price action but I'm considering hedging my physical position again with a paper short of 500 oz somewhere around the 61.8% retracement 47.60 to 47.80.
The future is golden, as in goldilocks.
Oh no here comes T Mopey and akthefuckingak to junk me.
here comes the qe3 answer
Total powderpuff questions from the sychophantic lapdog FED adoring press...just disgusting.
Buy gold, silver, food, and lead.
And some land. 5-10 acres of fertile stuff should do nicely.
And seeds... and start farming your land (if you have it... ) This is just a real farce of a press conference... I think Gaddaffi's conferences were more believable than this... at least Gaddaffi lies well lol
Mr. Chairman, remember in 2007 when you assured us the sub-prime housing crisis wouldn't spread to the wider economy? Could you comment on that?
Wrong, wrong, and wrong. 0 for 3, Bennie.
POMO part 3 a, b, c, d, e?
POMO Part Duex Thru InfiniTimmy and Beyond! was a GREAT THING Per The Ben-O-Cide!
Freaking A, the market has gone up because of your endless money printing!
it's Chinas move next
put up or shut up
I agree, China threatening to dump dollar debt, well go ahead what are you waiting for now?
At the moment, RGLD is up $0.91 / sh, SLW is up $2.21, SSRI is up $1.59; looks like the market thinks Ben will keep printing, at least for now.
Just RESIGN Ben!
No Ben, you lie, you DID say 'Give us TARP, and we will see return to full economic force within a couple months'.
Now trying to say this ALL was only a bit of a small step, not guaranteed to solve much of anything. Well except to make the world bankster cabal whole again.
He's going to raise rates soon.
Uh Oh.
Benzebubbles is caught obsessing over what he's admitting are INFLATION RISKS.
Uh oh.
Benzebubbles...what to do, Robo?
The Bernanke Bungee.
http://youtu.be/JXmJIxgJaoI
Q(n+1)
at this point ladies and mens, the atp stockpiles in my frontal lobes have declined about as fast as the dollar since the inception of this speech, and now i revert to what organisms do in times of severe stress and repeat things i have stated earlier for you today.
while words like 'panacea' come from my thunder lips, they are out of context and parsed with so many 'uhhs' that the memory traces from my previous sentences will decay and you will be unable to integrate my current words with my previous ones.
my anticipation is this is not a concern for you or us.
Whenever you hear DUAL mandate buy ammo, PMs, seeds, etc., i.e GET OUT OF US DOLLAR!!!
The Soviet Union had a full employment mandate, and did quite well meeting it.
PMs will EXPLODE tonight. Chinese don't give a shit about our dual mandate.
JPM is robocalling Bernanke's cell phone right now.
"Sit Down and Shut Up!! Shut Up!!! It's not working!!!"
How many ways can these stupid reporters ask the same question?
WHO owns the FED?
WHY has the money supply increased over 300%?
Hardly confidence inspiring to anyone at all, sounds more like a guy in a police station being questioned about the string of robberies hes comitted.
Wow, inflation is caused by rising oil prices not by the falling dollar...???
Right, like how a hot air balloon rises due to the basket being made of wicker.
"Blah, Blah, Blah........We try to devalue your money by 2% a year....blah, blah, blah".........
So, re-investment (so well predicted here on ZH) will end and the Fed will keep there balance sheet balanced until they don't, which is probably never, and we will run 100 Billion short paying our bills each month, and the majical fairies will write majical checks, and this is all going to be fine, we are stable, blah, blah, blah.
DXY faliing fast already and gold hitting new highs.
30 minutes into speech, time for plan "B".
Finally The Bernank mentions the third mandate.
04-27 14:47: Fed's Bernanke says i do believe QE2 was effective, reduced volatility and boosted stock pricesHe's exasperated that the Quantitative excriment is not working. He's showing some signs of cracking here.
The Bernank is a laxative, softening the bad stool that is the TBTF banks, so that it can be eased out onto the heads of individuals and families.
Does he seem sad? Perhaps we should ask Krugman to lend the Bernank his kitten. Bernank looks like he could use something nice and furry to pet.
Like this?
http://afterdark.icanhascheezburger.com/2011/03/03/funny-pictures-kitten...
This one hasn't given a fark all day either: http://2.bp.blogspot.com/_SSUbVSG_KVY/TM7k1aeo7-I/AAAAAAAAAO0/1LVB-56ioZk/s1600/Paul-Krugman-with-Cat.jpg
STFU he might start stroking his beard !
Yikes !
LOL
http://www.streamtext.net/text.aspx?event=FRB
This asshole can't even properly lie about the benefits of QE-- he just talked in circles and it was nonsensical-- he says it turned the economy into the right direction. Let's look at the facts: imbalances have grown as a result, corporations continue to become more productive (by laying off a huge portion of expenses i.e. labor), purchasing power for Americans outside of the top 2% has been destroyed, unemployment is not improving relative to the amount that was used to 'help boost' employment as per a mandate, the banking system is still prone to the same shocks and if anything they have become bigger and more levered to a flawed system-- in sum things have become progressively worse as now the democratic process in this country is all but dead and any real public discourse of society's greater problems is left to a circus shit show of birth certificates and eliminating benefits for those who need it the most while boosting the benefit to those who don't really need more.
This guy says those who have been unemployed for sometime may be atrophied in their skills, but look at this idiot in charge of the US central bank-- proof positive that labor and employment is not based on any real skill or intelligence but rather through crony capitalistic ways.
Exactly.
His actions are doing wonders for his banking and political cronies.
I think he was referring to Volcker.
Silver yesterday touched 44 and change... today this idiot speaks and we are back up to 47 +, so much for any buying today.. Ben-O-Cide to the rescue!
Gold Up!
Silver Back Up!
Laff of the day, Steve Lie sman sitting in the front row as if he's a reporter and not one of Binny's Boyz.
Yeah, and little Stevie kissed Bernanke's ass, asking his question with an apologetic tone while smiling and bowing like some kind of lap dog.
every question he answers causes metal to go up. When do they bring out the hook and drag him off stage?
Keys thus far:
Fed WILL complete QE2!
Fed WILL continue maintaining its balance sheet.
(and by corollary):
Inflation WILL continue to build. It's no wonder that crude oil has spiked $2.70 from the bottom so far!
I wanna send Bernocchio a toupee' or a hat for his head and a trellis for his growing nose.
do not understand the USA government etc etc.FED. It is like Greece.
I thought it is more responsible , with some work ethic, like Northern Europeans. It seemed a successful country which had a crisis to get over with. Like many other countries have done.
How can anyone be so afraid of internal reforms as to debase the world reserve currency intentionally?
For those who are happy with silver , would you not be happier without silver and with normal currency and debt situation? Or is that not possible in principle?
New learning every day. I would invest in weapons manufacturers, perhaps European, since Europe is underarmed in the situation when the USA goes bust. And weapons will be needed.
I don't mean to sound condescending, but you're starting to get it.
Bernanke will have to be removed and a Volcker brought in to stem the trend.
The only thing better about the european situation is that the numbers are quite alot less than in the U.S. in terms of bailouts and debt, however, you have Ireland, portugal, spain, italy, greece to contend with in the long run. The whole problem with both of these situations is endless, and I mean cradle to grave, entitlement spending on healthcare, retirement, welfare, public sector employee pensions etc... There will come a time when governments around the world are forced to back off entitlement spending and have to let people fend for themselves in alot of areas of life just from the mere fact there is not a large enough tax base for it to be paid for any longer.
Because we americans have become a bunch of whining, frightened, lazy pussies.
Sorry guy. America aint what it used to be.
"I have to monetize, it's the politicans' fault"
SILVER !
Bang, BTFD on Tuesday --> up and away today
Anyone who's been here for a few weeks would know that was going to happen.
Most of these journalists think the fed is doing a great job. A few look like they have been drinking.
ALL SHALL BOW DOWN TO THE GREAT BERSTANKY
sorry i got a little giddy, i feel like ive been shooting fish all day
im so fucking on in the last two weeks i've been legging the may jun silver roll back and forth at .50 in my favor every time just so my broker will laugh
He was starting to calm down and then the Japan (Yen) intervention stuff came up.
Back to quivering........................
Modern day robber barron at it's finest. This asshole is now trying to drive concerns about food prices going up, but hmmm didn't China with one of the biggest amounts of population relative to the world just have problems with the oversupply of food and now prices have dropped as a result. This evil son of a bitch has no shame in creating an illusion even if it means hysteria in the wrong areas that can certainly lead to unnecessary human behavior-- he wants to see greed bleed into every orifice of the human psyche. It's not a problem of scarcity, but now further proof a problem of centrally planned economic terrorism.
"Monetary tender". . . How about monetary napalm?
French reporter, Ben voulez vous coucher avec moi ce soir
He just said the fundamentals are necessary to creating a solid dollar, but so far the policies he's enacted have not and he just flat out lied-- he's getting to the point where he can't explain economic semantics and alchemy to describe the illusion-- he's just resorted to flat out lying.
That "strong and stable dollar" response should cause a drop below 73 DXY.
Ben said that passed June, the Fed will keep its balance sheet at constant level, meaning that they will reinvest the proceeds of maturing Treasuries and MBS. Now what if they sell back to the financial system the toxic MBS and re-invest those proceeds into more treasuries? That would in fact be QE3 by the back door, pushing the excess leverage back into the financial system. But that doesn’t matter as FASB allows mark to fantasy model. If this is to happen, what will happen with those toxic MBS that the financial system would absorb? Where will they stuff them? Will they sell them to Pension Funds? Where’s that vomit bucket by the way?
Markets love the lies!
Bernanke is "sure that the Fed's policies will lead to a stong and stable dollar in the medium term."
I guess that means that the dollar is going to break hard here, folks.
Please keep the Bernark talking. The more he talks the higher the price of silver.
its official. the fed has lost control.
"Short term fluctuations"
Flucyou white people to!
Did they pass out donuts?
"Thanks Mom" hahahahahahaha good one nackster, lets have some fun here, why not? Silver is up, I wonder if perhaps he owns a little bit himself, someone should ask him about conflict of interest. Mr Chairsatan, what assets did you purchase right before starting this meeting?
ROFLMAO!
Did you see Benny tell Habib, "I just said RISK ON motha fucka, what part of that do you not understand?
HAHAHA
I see you speak fluent fed also.
NO QEIII? Well Rickards was right with how it looks like for now. This is QEII+
Keiser Report: Banking XXX with Jim Rickards - April 12th, 2011 (Rickards from 12:30 min) http://youtu.be/V3NdUU1wWa4
Treasurys, dollar fall: Bernanke to reinvest debt http://www.marketwatch.com/story/treasurys-dollar-fall-bernanke-to-reinvest-debt-2011-04-27?link=MW_story_morecolumn
He also said the Fed would continue reinvesting maturing Treasury and mortgage-related holdings in its portfolio.
Fed to maintain balance sheet after QE2 end http://www.marketwatch.com/story/fed-to-maintain-balance-sheet-after-qe2-end-2011-04-27?link=MW_story_morecolumn
Federal Reserve Chairman Ben Bernanke said the Federal Reserve would continue to maintain its balance sheet by reinvesting proceeds of maturing mortgage-backed and Treasury securities once the bond-buying program ends in June.
He said that to stop reinvesting proceeds would be an early, tightening step.
KWN Special Sunday Release: Jim Rickards, 17 April 2011, by Eric King (King World News) http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/4/17_Jim_Rickards.html Download MP3 from site (right click -->--> save link as)Jim Rickards: "QE Forever" - Rickards says that even if they won't do QEII explicit the FED's balance sheet is so wide that in practice QE is going forward implicit.
LISTEN TO: KWN Special Sunday Release:Jim Rickards Sunday, March 27, 2011 http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/27_Jim_Rickards.html
Jim Rickards - “QE is dead, long live QE!”, 11 March 2011, by Eric King (King World News) http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/3/11_Jim_Rickards_-_QE_is_dead,_long_live_QE!.html
"... gives the Fed about $750 billion per year of buying power without expanding the balance sheet."
silver is up 2 and a half dollars since noon gawwwwdamn
Rogoff beat Bernake's ass in chess. Color me shocked...
Bernanke keeps looking down at the market reaction on his iPad.
no, he is beta testing the new iCash app that everyone will be able to download and print all the money they want
providing the meeting minutes JUST 3 weeks after the meeting is essentially a prodxn lag. Are they short ink and paper? I thought they did all this digital like nowadays, "print money" and email.
silver 47.55 $
clown farts...
Keep talking shit Ben, Silver just might hit $50 before your finished.
slow recovery (good)
housing bubble (good)
high oil prices (good)
high unemployment (good)
no structural problems (ooops)
dynamic economy it always was?
double post
WTF... was THAT?
Gold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Silver!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Well that was brief, considering it all sounded like bullshit. I'm surely much relieved.
Did the Bernank just confirm Rickards' hypothesis that QE never ends...it just goes on with reinvestment of maturing investments!?!?! And we need a lip-reader to fill in the five or ten second blank, where Bernank was censored?!?!? Did he accidently slip off message and give away something we are not meant to know?
The only point I'm getting is that he blames oil/gas prices on supply/demand and MENA unrest and completly ignores any question on food inflation. He did not address food at all. Also, no mention of the royal wedding.
No need to mention food anymore. FED made it clear a looong time ago that people shud eat iPads.
Funny,noone asked him how the govt was going to pay the interest on its debt if he put up interest rates,but there is of course no answer to that one since he ain't never going to put them up!!
What an empty suit.
Bernanke: "This financial crisis was triggered by a crisis in the housing market."
No it wasn't you ASS - it was triggered by allowing TBTF banks to gamble with the solvency of the world!
Then, the TBTF banks were bailed out by the working people of the world.
Then, we have to listen to your corrupt clap trap from the podium of pestilence and hegemony.
DISGUSTING
that is the best the press could do??? with all the more probing questions written here...really...sad. But alas I expected as much based on passed behaviour...bowing before ben for the most part