• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Bill Gross To Bernanke: "Thanks Chairman! Got Any More?"

Tyler Durden's picture




 

What can one add to a tweet that is the best flashback to the peak bubble days of summer 2007:

"There is no bubble.... There is no bubble... There is no bubble...."

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Tue, 05/07/2013 - 10:04 | 3537373 chumbawamba
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Do not bite the hand that feeds.

I am Chumbawamba.

Tue, 05/07/2013 - 10:16 | 3537393 hedgeless_horseman
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"...got any more?"

That's what she said.

So let me hold it up
 Just one more go
 Holding it up for just once more
 One more time to fill it up
 One more time to kill
 But whatever I do
 It's never enough
 It's never enough.

Tue, 05/07/2013 - 10:22 | 3537423 Cult_of_Reason
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Were they clapping to Miss Reality returning to NYSE floor this morning?!

Tue, 05/07/2013 - 10:23 | 3537427 camaro68ss
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Am i the only one that thinks its scary that we are still QE'ing and we're at an all time high!

Tue, 05/07/2013 - 10:29 | 3537443 Cult_of_Reason
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I think they will announce QE tapering in June (watch Hilsenrath writing about it within a few weeks) -- currently almost nobody expects it.

Tue, 05/07/2013 - 10:33 | 3537458 valley chick
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 <-------thinks that they will taper QE

 <------thinks that they will increase QE

Tue, 05/07/2013 - 10:45 | 3537506 mayhem_korner
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Who's the troll who voted for tapering?  Did you see the market go into code brown when it was leaked that certain members of the FRB were even considering backing off???  No prominent official - elected, appointed, whatever - will allow the securities markets to crash on their watch.  Accordingly, there is NO CHOICE but to keep printing, and accelerating it.  To even grip the end of the punchbowl will cause the markets to go into free fall.

Res ipsa loquitur 

Tue, 05/07/2013 - 10:53 | 3537524 camaro68ss
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Need MOAR punch

Tue, 05/07/2013 - 10:58 | 3537540 mayhem_korner
mayhem_korner's picture

 

 

...and MOAR HOAP

Tue, 05/07/2013 - 11:04 | 3537561 old naughty
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Com'on Bill,

Ben was just doing, as told.

And when Timmy replaces him...

Tue, 05/07/2013 - 12:15 | 3537781 redpill
redpill's picture

Yeah Bill, because the worst part about what Bernanke has done is the impact on the share price of one of your shitty bond funds. 

Tue, 05/07/2013 - 10:38 | 3537473 Stoploss
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That would mean rates would have to go up.

If rates go up, US can't service the debt and defaults.

QE can never end, and rates, especially, can never ever go up.

Tue, 05/07/2013 - 10:47 | 3537504 Cult_of_Reason
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Not to end QE, but to announce a symbolic QE tapering, so they can say (pretend), "we are carefully weighing the risks and benefits of QE at each meeting".

Tue, 05/07/2013 - 10:51 | 3537486 Dr. Richard Head
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The uproar of the population was so intense during the $860 million in TARP that the politicians realized that in order to expand the Fed's balance sheet, as well as the US debt, the Fed would have to do it alone and under cover of bullshit.  Furthermore, the common nomenclature of the Fed's balance sheet expansion is either $45 billion or $85 billion a month, depending on how in-depth the sheep look at this, instead of the $4 TRILLION expansion that this actually represents.  Add that to whatever other ZIRP and bailouts in secret and you have TENS OF TRILLIONS of debt creation to fund anemic groth at best or the slow deteriation of the economy at worst.  This is ALL at the hands of the Fed and it's banking masters.

To taper any QE is absolute suicide of the Fed, as the bond bubble will pop, the stock bubble will pop, the student loan bubble would further pop, the mortgage bubble would pop (again), and interest rates for government debt would absolutely surge.  The only firms buying this shit debt are the ones that are merely recycling the Fed debt in a circle jerk dog and pony beastiality show that would make Tijuana's Juicy "Donkey Girl Show" Lucy blush. 

An announcement of tappering will only be found in some bullshit talk of non-voting board members, but nothing more. 

Then again, I could be completely wrong as they have kept the music playing way longer than any math would anticipate.

 

Tue, 05/07/2013 - 10:30 | 3537448 valley chick
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don't be distracted...keep stacking!  It will implode soon enough.

Tue, 05/07/2013 - 10:38 | 3537472 mayhem_korner
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It will only seem "soon" after it happens.

Tue, 05/07/2013 - 10:41 | 3537485 valley chick
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+1 MK    and I am taking advantage of every day.  Even a valley chick gets it.

Tue, 05/07/2013 - 10:48 | 3537513 mayhem_korner
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Are "valley chicks" the next generation of "valley girls"...or are they unrelated?  Inquiring minds want to know...

Tue, 05/07/2013 - 12:32 | 3537839 valley chick
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a new hybrid..valley girl goes prepper chick = valley chick

Tue, 05/07/2013 - 12:33 | 3537843 BeaverFever
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Valley Girls have turned into Valley MILFS. Valley Chicks are their offspring.

Tue, 05/07/2013 - 10:39 | 3537476 Dr. Engali
Dr. Engali's picture

Yeah...fucking great thrill ride isn't it? The crash is going to be spectacular!

Tue, 05/07/2013 - 10:44 | 3537501 Dr. Richard Head
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Unfortunately, I have been turing purple and have liver damage from holding my breath and over-drinking in the wait for it to happen.  I'm not saying it would by any means, but the tricks they have pulled to keep the appearance of levitation going is astounding and defies logic.

"We don't need no printer let the father fucker burn.  Burn father fucker, BURN!" - Dr. Richard Head

Tue, 05/07/2013 - 10:49 | 3537514 mayhem_korner
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+1 You just dated yourself.

Tue, 05/07/2013 - 10:52 | 3537520 Dr. Richard Head
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You could tell I was 35 from that?  HAHAHA

Tue, 05/07/2013 - 10:57 | 3537530 mayhem_korner
mayhem_korner's picture

 

 

No...just that you are >30.

Tue, 05/07/2013 - 11:27 | 3537631 Vince Clortho
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You are not the only one.  The Exchanges at all time highs; the Central Banks printing at all time highs; the economic data heading South.

It is insanity. And very scary.

We are watching the death of the financial ponzi scheme.

Writhing and squirming like a dying snake.

The worst is yet to come.

Tue, 05/07/2013 - 10:26 | 3537432 Meat Hammer
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+1 for The Cure reference HH.  

Funny story - After their concert in 1992, my friends and I followed their tour bus to see which hotel they were at and as we kept up with them on the highway, we pulled alongside the bus and saw Robert Smith watching ballet and drinking Bud Light.  When we finally got to the hotel, Smith gets off the bus wearing sweats and Air Jordans, but still has his hair all spiked up and all of his makeup on.  He reeked of cheap beer and was stumbling and slurring his words.  My buddy asked him to sign his guitar, but instead of signing his name, Smith drew a picture of a spider looking out a window.  Crazy shit.

Sherriff, why did you tell me that?

I don't know.  My mind wanders.  

Tue, 05/07/2013 - 10:41 | 3537475 hedgeless_horseman
hedgeless_horseman's picture

 

 

Similiar story - After Jackson Hole in 2012, my friends and I followed Bernanke's limo to see which hotel he was at and as we kept up with them on the highway, we pulled alongside the car and saw The Bernank watching CNBC and drinking Bollinger. When we finally got to the hotel, Ben gets out of the limo wearing sweats and Air Jordans, but still has his beard all groomed and all of his makeup on. He reeked of printer ink and was stumbling and slurring his words. My buddy asked him to sign his toner cartridge, but instead of signing his name, The Bernank drew a picture of a SPDR wearing shorts looking up at a falling piano. Crazy shit.

Tue, 05/07/2013 - 11:12 | 3537583 Temporalist
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Ben is a maestro which is why he has "Special Drawing Rights"

Tue, 05/07/2013 - 10:06 | 3537376 GetZeeGold
GetZeeGold's picture

 

 

Careful Ben Shalom.....I sense a trick here.

Tue, 05/07/2013 - 10:17 | 3537411 the grateful un...
the grateful unemployed's picture

success is the same as death for a fed chairman. once you fill the punchbowl, you can never take it away. bernanke's best career move will be to leave his position when his term expires, but hubris will prevent that from happening. after he is cheered on for a second term, thats when things will get real ugly

Tue, 05/07/2013 - 10:06 | 3537377 Rory_Breaker
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Sorry, OT...but...

India Post to offer 7% discount on gold coins:

http://economictimes.indiatimes.com/markets/commodities/india-post-to-of...

Bitchez bitchez!

Tue, 05/07/2013 - 10:28 | 3537437 Motley Fool
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http://www.thehindubusinessline.com/money-wise/post-office-discount-is-n...

 

"The price (after discount) offered by the postal department was higher than the quote of most banks and gold retailers. "

Tue, 05/07/2013 - 10:36 | 3537465 Rory_Breaker
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bummer! :-(

My bank offers me a discount too and barely matches the price at my jeweller. The jeweller takes cash and doesn't ask questions and that's why I've never bought from anyone else.

Tue, 05/07/2013 - 10:43 | 3537495 Motley Fool
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Gold does not sell at a discount.

 

Btw, did not downvote, but consider looking a bit deeper next time. :)

Tue, 05/07/2013 - 14:14 | 3538151 Rory_Breaker
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Don't care about the downvotes. I'm just here to learn. Thanks mate. I'm just sticking to my jeweller, my dad's been buying from him for 20+ years. Cheers.

Tue, 05/07/2013 - 10:45 | 3537502 Quinvarius
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At these prices, a few percent doesn't matter--Unless you are buying gold by the ton.

Tue, 05/07/2013 - 14:16 | 3538166 Rory_Breaker
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When you're a little short of cash you want to save every rupee [or dollar]. Cheers.

Tue, 05/07/2013 - 10:07 | 3537384 krispkritter
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Fick Dich Herr Chairman! 

Tue, 05/07/2013 - 10:11 | 3537395 Bearwagon
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Couldn't he just drop dead?

Tue, 05/07/2013 - 11:10 | 3537577 krispkritter
krispkritter's picture

Vampires are already dead...

Tue, 05/07/2013 - 11:17 | 3537603 Bearwagon
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Not dead enough!

Tue, 05/07/2013 - 10:08 | 3537386 Dr. Engali
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Moar will be coming, but first another smack down in precious metals is needed.

Tue, 05/07/2013 - 10:28 | 3537388 Cognitive Dissonance
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"I will serve no wine pop no bubble before its time." - 'Bubbles' Ben

Tue, 05/07/2013 - 10:31 | 3537444 MilleniumJane
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I guess he's just waiting until he gets the thumbs-up from the Masters of the Universe that they have placed their bets on the downside.  Until then, it's turn up the heat.  Frogs (middle class) are boiling everywhere...question is, how many will jump out of the pot?

Tue, 05/07/2013 - 10:10 | 3537391 Bay of Pigs
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ITS TRADITION!

Tue, 05/07/2013 - 10:11 | 3537394 dcohen
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Benjamin Shalom Bernanke, the prophet of the market, thy shall print, so says the lord.

Tue, 05/07/2013 - 15:00 | 3538359 Go Tribe
Go Tribe's picture

Because water,from a stone just wasn't good enough.

Tue, 05/07/2013 - 10:15 | 3537396 Shell Game
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SAVERS

@SAVERS

'Dow hits 15,000 & CD and bond yields at all time lows. Spanked by Chairman #Bernanke. May we have another?' #FuckTheFed #EndTheFed

Tue, 05/07/2013 - 10:16 | 3537408 Craxi
Craxi's picture

Why does Bill Gross continue to not accept that the Fed will backstop all ..or as ZH has suggested...this is reverse, reverse, reverse psychology at play.

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