Ben Bernanke

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Jim Bianco Warns "The Risk Of An 'Accident' Is Very High"





"Not only do the five largest financial institutions in the US have a higher concentration of assets than they did before the financial crisis but it’s the largest concentration ever. So we’ve made the too-big-to-fail-problem worse because we have bigger, more systemically important financial institutions now than we did in 2007 – and nobody seems to know what to do about it... [EU banks] are acting irrationally. They’re not acting that way because they don’t believe it or they don’t understand it. So we’re still all trying to feel around in the dark as to what this means. And that means that the chance of an accident is very high."

 
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Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards





James Rickards, economic and monetary expert, joined Bloomberg’s Francine Lacqua on Tuesday to discuss the gold “chart of the decade”, his new book “The New Case for Gold,” why gold is money and why gold is going to $10,000/oz in the coming years.

 
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Central Bankers To The Masses: "Let Them Eat Rate"





A new generation of revolutionary central bankers must be called to arms for all of our sake. Their battle cry: We commit to never returning rates to zero or below again, to never let be money be free and forever ensure there is a true cost associated with borrowing. Release the markets to set interest rates now and forever! Will it work? Stranger things have been known to succeed in capitalistic economies with competitive and freely functioning markets.

 
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In 1 Out Of Every 5 American Families, Nobody Has A Job





If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told.

 
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While America Debates The $20 Bill, China Moves Closer To Gold





In spite of Ben Bernanke’s assurances to the contrary, it is clear that China still sees gold as money. Along with bolstering their gold holdings, China has reformed its banking system to be friendlier to gold trading.

 
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Albert Edwards Finally Blows Up: "I'm Not Really Sure How Much More Of This I Can Take"





"I'm not really sure how much more of this I can take. So here we are 5, 6 or is it now 7 years into this economic recovery and it still remains pathetically weak. And so it should in the wake of one of the biggest private sector credit bubbles in history. The de-leveraging hangover was always going to be massive and so it is. Quick-fix monetary QE nonsense has made virtually no difference to the economic recoveries other than to inflate asset prices, make the rich richer, inequality worse and make Joe and Joanna Sixpack want to scream in rage."

 
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Pimco Economist Has A Stunning Proposal To Save The Economy: The Fed Should Buy Gold





"In the context of today’s paralyzed political-fiscal landscape how silly is it to suggest the Fed purchase a significantly large quantity of gold bullion at a substantially greater price than today’s free-market level, perhaps $5,000 an ounce?  Admittedly, this suggestion is almost too outrageous to post under the PIMCO logo, but NIRP surely would have elicited a similar reaction a decade ago. But upon reflection, it could be an elegant solution since it flips the boxes on a foreign currency “prisoner’s dilemma”. Most critically, a massive gold purchase has the potential to significantly boost inflationary expectations, both domestic and foreign."

 
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Keynesian Central Bankers - Wrong From The Beginning, But No One To Stop Them





"They really don’t know what they are doing. They never have. And nobody stops them."

 
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"This Is Catastrophic" - Thousands Of Gallons Of Radioactive Waste Leak At Nuclear Site





Thousands of gallons of radioactive waste leaked from the Hanford Nuclear Reservation Site in Washington State, as workers pumped sludge from the tank during the weekend. "This is catastrophic. This is probably the biggest event to ever happen in tank farm history. The double shell tanks were supposed to be the saviors of all saviors (to hold waste safely from people and the environment),” said former Hanford worker Mike Geffre.

 
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What Is The Worst-Case Outcome Of Helicopter Money: Deutsche Bank Explains





"A “successful” helicopter drop may therefore be easier said than done given the non-linearities involved: it needs to be big enough for nominal growth expectations to shift higher and small enough to prevent an irreversible dis-anchoring of inflation expectations above the central bank’s target. Either way, the behavior of the latter is the key defining variable both for the policy’s success as well as the asset market reaction.... under the assumption of policy “success” without fears of hyperinflation, we would conclude that bond yields rise."

 
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Absurdity: When The Con Believes The Con





There are many infamous con games that have been foisted upon the public for millennia. As with any con game the perpetrator knows it’s all a con. In other words, “Duh!” Yet, if you listen closely to both past as well as present Fed. members you can’t help but notice by way of their current arguments, as well as, proposals for future monetary policy. The one’s who’ve truly bought into “the con” is: themselves!

 
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How To Trade The Coming Helicopter Money: Deutsche Bank Explains





"At one extreme, if the market perceives the policy as a failure, credit risk and demand/supply imbalances are likely to dominate, putting even further downward pressure on yields. At the other extreme, if the policy is perceived as a loss of monetary discipline, inflation expectations would spike, leading to an aggressive re-pricing of yields higher."

 
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Weekend Reading: Sagacious Discombobulation





So what do you do? Play the short-term chase the market game or the longer-term wealth devastation game. The choice is yours to make, the consequences will be for all to share. “I will tell you my secret: I never buy at the bottom and I always sell too soon.” – Baron Nathan Rothschild

 
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