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Bernanke Warns It Will Be "Very Difficult" For The ECB To Do QE

Tyler Durden's picture




 

Speaking at Schwab's IMPACT conference in Denver this evening, Ben Bernanke may not have earned his $250,000 but did unleash some uncomfortable truthiness - not unlike his predecessor's comments last week. As CNBC reports, the ex-central bank chief warned all those front-runners out there - just as we have explained numerous times - The ECB faces significant political barriers to enacting a sovereign bond purchasing program (let alone a corporate bond buying binge).

Via CNBC's Jeff Cox,

"The barriers to doing it are not really economic," Bernanke said. "The legal and political barriers being thrown up are going to make it very difficult to do that."

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As we noted earlier, here are the best "disappointment" trades ahead of tomorrow's announcement.

 

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Wed, 11/05/2014 - 20:53 | 5417530 Bloppy
Bloppy's picture

Seems like the ECB does whatever the hell it wants.

Wed, 11/05/2014 - 20:59 | 5417546 jcaz
jcaz's picture

Not so much,  Benny-  1) pour ink into printer  2) press "print"-

You seemed to handle it just fine....

Wed, 11/05/2014 - 20:59 | 5417562 kliguy38
kliguy38's picture

We paid you 250k for THAT info......???

Wed, 11/05/2014 - 22:02 | 5417823 TruthInSunshine
TruthInSunshine's picture

Fuck you, Bernanke!

When the revolution comes, your death will be slow & painful, and we will get you to spill your secrets and evil deeds, bitch.

We will not forget about you and we will find you.

Thu, 11/06/2014 - 08:06 | 5418865 Gordon Freeman
Gordon Freeman's picture

You really need to get out of your parents' basement...STFU

Thu, 11/06/2014 - 16:39 | 5421010 Its_the_economy...
Its_the_economy_stupid's picture

"Baseball been very, very good to me"

Wed, 11/05/2014 - 21:16 | 5417626 SuperVinci
SuperVinci's picture

Freegold bitchez!

Thu, 11/06/2014 - 00:49 | 5418380 runningman18
runningman18's picture

A stimulus announcement from the ECB is the only thing left that could keep stocks levatating at this point.  It doesn't seem like it's going to happen.  Time for markets to enter heart attack mode. 

Wed, 11/05/2014 - 20:54 | 5417538 lordbyroniv
lordbyroniv's picture

Whatver man

 

whatever

Wed, 11/05/2014 - 20:57 | 5417549 Last of the Mid...
Last of the Middle Class's picture

What the hell? They can't just jump in with $85billion a month for MBS"s and such just to save some rich bankers ass? Wow, man that sucks. Guess they'll have to pay the bill and start over. These guys have no clue and don't even have an idea of what they have done to the economy here in the U.S. Yeah, that QE was just the ticket!.

Wed, 11/05/2014 - 20:59 | 5417560 Vooter
Vooter's picture

HANG.

Wed, 11/05/2014 - 21:03 | 5417561 khakuda
khakuda's picture

What?  A central bank that can't crap all over it's own currency?  Say it isn't so Ben.  It's like having a one trick pony that can't do its trick.

Wed, 11/05/2014 - 21:00 | 5417571 Yen Cross
Yen Cross's picture

 You should know "Chairsatan".

  You're the one that handed repo's and reverse repo's, and interest rate swaps out like candy, to the sociopathic banksters to use at their  discretion.

 

Wed, 11/05/2014 - 21:07 | 5417597 SillySalesmanQu...
SillySalesmanQuestion's picture

Ben & Janet stole Draghi's printing presses and helicopters...?

Wed, 11/05/2014 - 21:03 | 5417572 Keltner Channel Surf
Keltner Channel Surf's picture

Yeah, just like Jack Nicklaus said it'd be tough for Tiger Woods to break his record -- Bennie's tryin' to ice him and reserve all the future Britannica encyclopedic glory for himself.

Wed, 11/05/2014 - 21:03 | 5417574 seek
seek's picture

<- the ECB breaks the law and does it anyway

<- They re-write the law to make it legal to do and Germany screams in mock protest.

Wed, 11/05/2014 - 21:02 | 5417575 kowalli
kowalli's picture

ECB can't print more and crash their currency and their economics, jeez what a stupid people.

I thought that Japan style is good, oh... wait...

Wed, 11/05/2014 - 21:05 | 5417588 silverer
silverer's picture

They've been listening to the US now for 40 years or so. Time to think different. But we also know that running the printing presses when you are not the world's reserve currency will produce fast results. Think Zimbabwe.

Wed, 11/05/2014 - 21:06 | 5417589 IronShield
IronShield's picture

Duh; this is news???  It's widely known that the ECB has severe restrictions in this regard, and while not a perfect currency, it will be the one with swagger at the end of all this.

USD, JPY?  We'll be lucky if they still exist.  Prepare accordingly.

Wed, 11/05/2014 - 21:11 | 5417612 Ms No
Ms No's picture

Oh they will be doing QE.  They will be shoving a gargantuan inflationary two by four up all are arses both here and there, make no mistake about it. 

Wed, 11/05/2014 - 21:19 | 5417638 Yen Cross
Yen Cross's picture

 Cue that reptilian Soros, trying to use Ukraine as camouflage to scare the EU back in line.

Wed, 11/05/2014 - 21:43 | 5417748 seek
seek's picture

Yup. I'm not a believer in the reptilian conspiracy theory, but if someone said Soros was one, I'd accept it with very little additional evidence.

YI think McMolotov's "Fuck off, Satan" comment about Soros on the other thread is the highest I've ever seen a comment upvoted, ever. Current score is +312.

Wed, 11/05/2014 - 23:34 | 5418202 Yen Cross
Yen Cross's picture

 McMolotov is a good poster... He comes up with some good ones.

Thu, 11/06/2014 - 16:55 | 5421084 XitSam
XitSam's picture

Tyler, end of year summary should include highest rated comment, highest rated unopposed comment, and most negative rated comment.

Wed, 11/05/2014 - 22:07 | 5417861 hairball48
hairball48's picture

I had snakes for pets growing up. Reptiles are never to be trusted; their bites can be deadly.

Wed, 11/05/2014 - 21:45 | 5417719 RaceToTheBottom
RaceToTheBottom's picture

ECB QEn?

Really, the US FED QEn has gone much to European Banksters.  

Since turnaround is fair play, maybe the ECB should do the US QEn?  And this time more than just Belgium.... 

That gives the @ssHat Fed some cover as they go on to QEn and as they gut Financial regulations, give TBTF Banksters more money and let the MIC have as much money as they can think of spending....

Wed, 11/05/2014 - 22:15 | 5417888 hairball48
hairball48's picture

I'd like to see the ECB try QE in the form of direct monetization of sovereign bonds.

Maybe Germany(Deutsche Bundesbank) will finally get off the mark and take a stand? Tell Dragi to fuck off?

Wed, 11/05/2014 - 22:17 | 5417915 hairball48
hairball48's picture

I know it's not as simple as I put it above. I was just "supposing" for the hell of it

The ECB can't buy sovereign debt as I understand it's charter. Right? Not that that would stop those bankster thieves.

:)

Wed, 11/05/2014 - 22:29 | 5417956 q99x2
q99x2's picture

I hope he didn't unleash his Bernanke.

Wed, 11/05/2014 - 22:43 | 5418024 venturen
venturen's picture

How many shows a night does Benny do? Does it end with New York, New York?

Thu, 11/06/2014 - 01:43 | 5418472 Clowns on Acid
Clowns on Acid's picture

It should end with someone from the audience storming the stage and splitting open the side of his head with a Riedel wine glass (filled with expensive French Burgundy prior to ....).

I have seen this happen in Rock concerts in Zmbabwe when the crowd doesn't agrre with the music... so y'konw.... kinda the same thing... definitely the same message.... and it was a beer bottler... there is no Burgundy in Zimababwe... maybe some South African pinot noir

Thu, 11/06/2014 - 00:08 | 5418298 AdvancingTime
AdvancingTime's picture

The euro-zone is in a far bigger mess than recent headlines and figures suggest. Most of the growth in the Euro-zone over recent years has been in Germany and that bright spot is now under pressure. Italy has been in recession for two years; France’s economy has been stagnant for months. Now that Germany is in trouble, many economist think the chances of a Japan-style deflationary spiral have risen sharply.

What it all boils down to is Germany can’t keep buying Greek bonds and other bad debt with German taxpayer money until the end of time. The article below looks at the corner Central banks have painted economies into by attempting to paper over reality and how these polices will hinders growth for as long as the eye can see.

 http://brucewilds.blogspot.com/2014/10/global-economic-malaise-due-to-debt.html

Thu, 11/06/2014 - 01:38 | 5418465 teslaberry
teslaberry's picture

ecb is most definitely going to announce something that sounds bullish tomorrow, regardless of what it actually is. it will be positive sounding for market consumption. 

 

personally i think its' nonsense. i'm more looking forward to sundays catalonian vote----they will show the ecb that the ecb can print bullshit money to the moon , it will only succeed in tearing europe apart. pehraps putin was right. war is coming to europe . CIVIL WAR. 

Thu, 11/06/2014 - 06:15 | 5418740 Panic Mode
Panic Mode's picture

His whole life and PhD nappy thesis are all one big lie.

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