Liesman: "The Fed Gets To Print Dollars"; Bullard: "Indeed We Do"

Tyler Durden's picture

Fed mouthpieces Bullard and Lacker are out in force this morning talking the market back from the edge of yesterday's FOMC Minutes and reassuring us that the economy is going to be weak enough for a lot longer to justify the Fed's actions. However, right at the end of Jim Bullard's interview with CNBC's Steve Liesman, we got a glimpse of the reality behind the curtain as the St. Louis Fed president threw Bernanke under the purge-ry perjury bus... Following a discussion of fiscal policy uncertainty and the need to carefully spend what money we have, Liesman jokingly commented to Bullard that it is "Easy for you to say, you have a lot of dollars to spend; you get to print them!" To which the now foot-in-mouth Bullard replied, "Aaahh; indeed we do." This seems a little different from what Bernanke previously told Congress.


Forward to around the 7:45 mark (though the early discussion is worthwhile as Bullard talks the economy down)...


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kliguy38's picture

Just wants to make me puke........blah blah blah........when these chickens come home to roost the chicken shit will bury us all

Pool Shark's picture



"Indeed, we do."

Many a truth is said in jest...


nope-1004's picture

You mean Bernocchio is full of shit?  Huh..... who woulda thunk that the head of a private cartel (Fed) bailing out it's insolvent members in the name of "economic stimulus" would lie.

Asshats, all of 'em.


Banksters's picture

After a fair trial, of course!   

ZerOhead's picture

A trial at a County Fair is a tad unorthodox... but what the hey... it's sure to be a crowd pleaser.

walküre's picture

They will simply play the insanity defense card and possibly get away with it...

What gets me is how they bicker and posture and discuss their "options".

There are no options. They're broke and need to go in to BK. Any system that relies on creating its own ficticious wealth to sustain itself is at the end. When you're creating almost half of what your running budget needs, then you're broke. When you're pretending that the other half you need to operate and which is created from thin air is supposed to have the same nominal value, then you're simply a shyster. Good luck trying to bamboozle the world going forward.

The fuckers are all so pretentious.

EnslavethechildrenforBen's picture

The Fed is a front for the U.S. Military.

The dollar isn't just a weapon, it's their ONLY weapon.

Without the Dollar the U.S. Military would be nonexistant.

The Juggernaut's picture

See!  Its all perception of the dollar not what its real shitty value is.  Wait till the Fed unloads all its Treasuries.  End Game because no one will want it.  Unless they just transfer it to a GSE.  Then you know the world is fucked.

NotApplicable's picture

Unload? Why would they ever do that?

One does not construct such elaborate traps merely to set the prey free. As long as the military backs the validity of the Fed's claim on assets, there is but one path.


Michaelwiseguy's picture

DHS Buys 200,000 More Rounds of Ammunition

While the Obama administration sets out to eviscerate the gun rights of American citizens in the aftermath of Sandy Hook, earlier this week it was announced that the Department of Homeland Security has awarded a company a contract worth over $45,000 dollars to provide the DHS with 200,000 more rounds of bullets.

This new purchase adds to the staggering figure of 1.6 billion rounds of ammunition already secured by the DHS over the last 9 months alone.

Democide: How many people will government kill this year?

In the 20th century, the greatest unnatural killer of human beings was not plague, cancer, or accidents. It was democide: death by government.

Governments murdered more people in the last 100-plus years than any other killer in existence on record. Statistics vary between 250 and 300 million dead depending on the source, but these counts typically only include civilian casualties and are underestimated. With military deaths added, the numbers soar much, much higher.

knukles's picture

"Indeed we do" is another incantation of "yes we can".

yo bitchez

ZerOhead's picture

To be completely honest the killer drones get me a touch nervous at times...

unrulian's picture

no need to worry....if your house is targetted for your ZH posts... it will be quick

Matt's picture

On the up side, the government will give you 40 pounds of silver, express delivered right into your living room.

awakening's picture

Win if it's a dud, bonus points if you were not home at the time (remote net con from work/elsewhere)  :P

grid-b-gone's picture

They don't need the military. All they need is a court ruling stating that senior debt status transfers to a derivative when it is created. Why else would the large banks hold onto the vast majority of derivatives and resist a public trading market for them if the instruments have as little intrinsic value as most of us assume?

Just a tool to get around capitalization rules? Maybe, but I'm not betting my house on it.

The average person who believes they will be paying back their debt with inflated dollars once the Fed is successful at igniting inflation, may wish they had owned their stuff before the reset.

Own it if you want to keep it.


Bunga Bunga's picture

After a fair trial hanging would be far from fair punishment.

smlbizman's picture

who dah a thunk george costanza, lord of the idiots liesman would blow this thing up...

Darth Rayne's picture

To be fair to the bankers, they can't create money without us promising to pay it back with interest. Without our signature there is no money.


To be fair to the politicians, you didn't vote Ron Paul in so you must like the crap the others feed you.


300 million Americans with more than 300 million guns. Who is gonna argue with you?


wake up and grow a pair



Michaelwiseguy's picture

And this is why the Federal Reserve Corporation and their employees are less trustworthy to manage US monetary policy than the American peoples elected congress critters. Going back to a Gold standard will further cut down on the miss-management of our nations money supply.

pods's picture

The Federal Reserve corporation serves many purposes.  One, to backstop banks who are over leveraged. Two, it allows unlimited deficit spending to be undertaken by a government to keep the debt moving upwards.

A gold standard will fail every time if we allow fractional reserve lending.  Even if the government "pegs" a dollar to gold it merely means that it will have to devalue it some time in the future.

If we were to think in terms of weight of metal, then we could start to get somewhere.

Like a TV that costs 8 grams of gold.  So you pull out 8 1 gram gold coins, etc.


walküre's picture

Print away! It's all bullshit from here on out.

What happens when the Fed prints and nobody cares?

Got gold?

The biggest all out game changer of recent history is upon us! For many it is apocalyptic, for some it is a relief.

Get 'er done. Print, print, print all you want! The more and the faster, the better! Hallelujah!

fuu's picture

If I had a printer
I'd print in the morning
I'd print in the evening
All over this land
I'd print out Dollars
I'd print out Euros
I'd print out bonds for all my fat cats
All over this land

If I had a chopper
I'd drop cash in the morning
I'd drop cash in the evening
All over this land
I'd drop out Dollars
I'd ring out Euros
I'd ring out bonds for all my fat cats
All over this land

If I had an algo
I'd front run it in the morning
I'd front run in the evening
All over this land
I'd front run Dollars
I'd front run Euros
I'd front run all the bonds for my fat cats
All over this land

Well I've got a printer
And I've got a chopper
And I've got an algo
All over this land
It's the printer of Bernanke
It's the chopper of Timmah
It's the algo of William Dudley and all his fat cats
All over this land

francis_sawyer's picture

joo confetti... [all over this land]

geekgrrl's picture

That's awesome! I'd love to see a video of someone performing this song.

Next best thing: the basis for the melody ... from Trini Lopez.

ZerOhead's picture

It is all bullshit... but don't expect them NOT to attempt to make a killing off of the inevitable collapse.

The CEO of the Federal Reserve Banking Cartel will be rewarded precisely the same as all other corporate CEO's...

Namely by maximizing shareholder net worth.

(Yes I am serious)

walküre's picture

They can "attempt" as you so succinctly put it. When it all comes unglued, their hubris and pretention is not going to earn them any medals.

ZerOhead's picture

To hell with the medals... just look at this payola AND where it came from...

Bill Clinton after signing the Financial Securities Modernization Act for Wall Street and leaving office in 2001 ($31 MM)


Tony Blair hooking up a convicted South Korean criminal with an Iraqi Oilfield contract... thank god he had marketable connections in that war that was NOT about oil... (Est $20MM)

walküre's picture

Modern day bribery. These "elected" officials are working their own gravy train the minute they're "elected".

Nothing new unfortunately. Why is Tony Blair not on trial? Because he knows too much.

silverserfer's picture

only problem is the bankers have accumulated most of the gold for cash. you cant have a gold monetary system when its all concentrated by banker fucks. the masses have been fooled and fleeced. Its unfortunate gold concentrates in the hands of the powerful and does not circulate freely among the masses like we would all like in a gold standard.

chubbar's picture

Everyone who would like to tell Congress to lay off the gun ban routine, please follow this link to the "take action" center and there is an already filled out email if you fill in your area code and personal info. Please inundate these assholes trying to circumvent the constitution!

NotApplicable's picture

Fuck Congress!

Anybody who would go begging to criminals for permission to live deserves the hell it creates. Why do you have to be so damn evil? All you're doing is FURTHER empowering them.

Have you no decency?

El Oregonian's picture

Yes it's true, every ass gets wiped when you have endless printed toilet paper... But, you won't be able to buy the food to put in your mouth to create the shit that your ass will need to wipe itself because you'll not be able to afford it.

stocktivity's picture

So what did he say that we didn't already know....blah, blah, blah...It's all Bullshit!

Lets_Eat_Ben's picture

I'm OK with CNBC making my news (ZH). I just don't want them making up my news.

tom a taxpayer's picture

Breaking News: Bullard hospitalized after Liesman interview.

San Diego: Just minutes after an interview with Steve Liesman, St Louis Fed President Bullard was rushed to La Jolla Hospital for the Filthy Rich suffering from a bowel obstruction. After a two hour surgery, Bullard is in the recovery room and as comfortable can be expect after removal of the anal obstruction: Steve Liesman's nose. 

Chief Surgeon Dr. Noh Fee Noh See said he tried many conventional and unconventional surgical procedures but could not dislodge Liesman's nose from Bullard's behind. At the last minute Bullard was saved by a Tweet from Treasury Secretary Geithner to Leisman, promising Liesman an exclusive interview with Geithner…something about a bank holiday. Immediately, Leisman's nose popped out of Bullard behind like a champagne cork. 

Stock Tips Investment's picture

The size of the U.S. debt is large enough to support an increase in interest rates. Even when the economy is reactivated, it will take time before it can successfully withstand an increase in interest rate. They can say many things on TV, but in reality, we will see rates low for much longer.

Snakeeyes's picture

Bullard: Sure, we will just print trillion dollar coins for the elites. The rest can eat cake.

buzzsaw99's picture

the bernank sez: IXNAY on the INTPRAY ALKTAY!!

HoofHearted's picture

The next line from Bullard, if he gets the chance: "And we have a cool fleet of helicopters, too."

Conax's picture

My spelling detector went off on 'purgery' bus- then I realized you might be doing a word play on the old commie purges.

I saw what you did there..

DavidC's picture

Saw yours appear just after my post sent!