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On This Day, 138 Years Ago, The Idea Of QE Was Born
From Art Cashin
On this day in 1876, a group of influential, yet irate, Americans met in Indianapolis. Their primary purpose was to send a message to Washington on how to get the economy moving again. America at the time was going through a difficult and unusual period. Several months earlier, the stock market had begun to plunge violently. Soon there were layoffs and business closings and the economy was having a tough time getting back in gear. And for months now, strange things were happening, the money supply seemed not to be growing, real estate values were stagnant to slipping, and commodity prices were heading lower. (How unusual.)
So this group decided that what was needed was re-inflation (put more money in everyone's hands, you see). The method they proposed was to issue more and more money. Cynics called them "The Greenback Party". And on this day, the Greenbacks challenged Washington by running an independent for President of the United States. His name was Peter Cooper. He lost but several associate whackos were elected to Congress.
To celebrate stop by the "Printing Press Lounge". (It's down the block from the Fed.) Tell the bartender to open the tap and just keep pouring it out till you say stop. Reassure the guy next to you (while you can still talk) that now we have more enlightened people in Washington. Try not to spill your drink if he falls off the stool laughing.
There wasn’t much raucous laughter on Wall Street Monday, but the bulls were beaming with smiles as they managed to continue their string of bull runs.
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Woodrow? Darling? Light, of my life. I'm not gonna hurt ya. You didn't let me finish my sentence. I said, I'm not gonna hurt ya. I'm just going to bash your brains in.Ahahaha, I'm just gonna bash 'em right the FUCK IN!
https://www.youtube.com/watch?v=zn-Cab0XRlw
QE, in the form of money printing, has been around a long time. Medieval China was (perhaps) the first to hyperinflate with paper. Rome debased their silver coins to nothing.
As well as holders of coin shaving the silver and gold off the sides of their coins before passing them on. Which is why I guess mints started reeding their coins.
Gold up $50 last couple minutes???? What is going on???
huh? u looking at the same charts i am?
http://www.goldseek.com/
Now $60???? Now up $90?? WTF??? Is this site broken....or seeing it early??
http://www.kitco.com/
kitco shows no such moves.
Perhaps next year once the dollar's, ahh, intrinsic worth is finally recognized...
EDIT:
http://www.24hgold.com/english/home.aspx
is showing gold up $143.00 WTF?
...and the Keynesian/Trojan Horse you rode in on. Supposed to be a reply to Aeternus.
Indeed...
Happy Thanksgiving Art.
QE4 coming soon, got to keep up with the nips and chinks,
And Europe. And Russia.
Few governments will "just let this one go".
I think stealth QE.
They are probably worried that publicly showing they have QE going on is limiting its effectiveness, so we will have stealth QE until that fails miserably also at re-inflating the economy, at which time they will announce QE4
I give it 5~6 Months of stealth QE before they announce the next round.
“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The Rothschild brothers of London writing to associates in New York, 1863.
"We will have world government whether we want it or not." James Paul Warbug, 1950.
They were planning this debt slavery system before WW1 intending to enslave us all through the currency scam. They were and still are so obsessed with control of the world that they spent their lives locking various systems into place even though they knew they would not live to see its completion.
Jimmy boy Warburg said that in 1950. And he should know. He was spawned by Paul Warburg who wrote the charter for the Federal Reserve. Can't you just imagine the sociopathic conversations in that house at the dinner table.
"We may need to debt serf some folks" -Nelson W. Aldrich-
Can't Putin do something about these pricks?
Note how the tenticles are not violating the small bank branch, but rather hugging it snugly in a blanket of warmth.
Because at the end of the day, The Central Bank is the king, and the Local Branch (your bank with your deposits) is an enforcement agent, as is the Capital.
"(put more money in everyone's hands, you see)." This clearly is not what QE is doing.
And the beauty of the whole thing is if a tentacle or two get chopped off, new ones grow back. Though I am a bit confused. Is this the Creature from Jekyll Island business model or the Great Vampire Squid (government-Sachs) business model?
Zero hedge propaganda.
Qe was not about money printing but about sustaining a stock of debt.
If a rich person can stop the stock and flow dynamics from happening then he can remain rich relative to the poor.
A industrial economy needs more then gold to absorb the huge surplus
Otherwise the wealth gets highly concentrated.
It best to produce interest free cash.........
The cash is as good as the bond or are yee lads in favour of usury............
Whoever drew that drawing may just walk on water, or at least could win a lot betting on sports.
An American, not US subject.
Guillotine the Fed!
extract from ' Sociopaths have Feelings Too '
Ehh, the Greenbackers weren't "whackos." Many were ex-farmers who were (recently) crushed in the Panic of 1873 when a lack of currency in circulation had drove down the prices of their goods, and forced many of them to forfeit their lands to banks and speculators (many wound up becomming tenant farmers on the same lands they once owned). Seems to me like their idea of "QE" was natural over-reaction/over-correction to a calamity still freshly smoldering in their minds.
It's also interesting to note that Peter Cooper was a proponent of the "Supply and Demand" theory of money, where an excess of money in the economy (inflation) leads to a general increase in prices, and a scarcity of money (deflation) causes a general decline in prices. Wonder how many here believe the same? He also wasn't afraid to call out the fractional reserve banking system as a scam and a root of financial panics. Defenitely a whacko if I ever heard of one.
Things are never as cut and dry as people make them appear...
The horns and the triangle shaped tails give away the real beast
My eyes welled up as I saw that octopus' tentacles grabbing up our nation. Now that's the country I know and ...love?!