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Ben Bernanke: "The ECB Is Well Capitalized"

Tyler Durden's picture





 

This will be one of those "one picture is worth a thousand words" posts.

A quick preface:

During Congressional testimony, Ben Bernanke defended the Fed's FX swap lines by saying that the ECB was "well-capitalized." So instead of spending countless words explaining why that may not be quite so, we will merely show the bank's total assets (net of LTRO 2) and its capital and reserves (link). The adjusted balance sheet is pro forma for today's LTRO 2, which we noted earlier will add at least €311 billion in net assets to the ECB's balance sheet, and potentially much more. Assuming the minimum, it means the ECB's balance sheet will now hit €3 trillion. The capital backing these assets is €82 billion across the entire Eurosystem. In other words, the ECB's leverage is 36.6x. This according to Ben Bernanke is "well-capitalized."

And visually.

 


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Wed, 02/29/2012 - 13:55 | Link to Comment trav7777
trav7777's picture

Not if they own silver today LOL LOL

Wed, 02/29/2012 - 14:01 | Link to Comment nope-1004
nope-1004's picture

Ya, especially if they bought it yesterday at 8PM and sold it today at 9:25AM.

Only a 7 year old would do that, and an even less astute adult think of doing it, eh trav?  I've heard about the less sophisticated investors who have a 13 hour investment horizon.  Never met one, though.  NTMY.  LOL.

 

 

Wed, 02/29/2012 - 14:07 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Wait a minute.   You mean Trav is wrong and you don't buy when the price is going up and sell when it goes down?

 

Why, that would mean that you would sell into strength and buy when there are corrections!   Who the heck does that?

Wed, 02/29/2012 - 14:25 | Link to Comment JW n FL
JW n FL's picture

 

 

Bernake Lends Against the Stock Purchases!

The Money is Rolled over into new Purchases of yet more stock!

The .25% that is paid on money barrowed?? that was raised from JUNK!! Collateral! to begin with? means NOTHING!!

 

Bernake Does NOT Need QE-3 outright where everyone can see it!

He has been printing every day of every week for YEARS! to push the market this much higher!

 

But becuase YOU FUCKING PROPOGANDA LOVING TOOLS DONT HAVE A WHITE PAPER ON HOW TO DO IT??? YOU ARE FUCKING BLIND??

 

It is days like today that I believe you fucking stupid fucks deserve what is happening to you.

Now down arrow for your ego becuase of your ignroance!

Wed, 02/29/2012 - 14:39 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Say it with me.

"Serenity now, serenity now, serenity now..."

Keep going. You're doing fine.

Wed, 02/29/2012 - 14:59 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Yes, with Trav here we need to keep our "bagholding" wits about us. LOL. What a clown.

Wed, 02/29/2012 - 16:44 | Link to Comment Hard1
Hard1's picture

ECB should IPO with facebook, the last bubbles of the so called civilized world in 22nd century history books

Wed, 02/29/2012 - 15:00 | Link to Comment steve from virginia
steve from virginia's picture

I saw the headline of this article and I had to laugh out loud.

Bernanke wouldn't recognize capital if it hit him over the head with a chair.

Wed, 02/29/2012 - 14:09 | Link to Comment Troll Magnet
Troll Magnet's picture

and barack obama is a great president as ronald reagan was a great president.  our country is very sound financially.  debt is money.  paper is worth more than some hard, shiny metal.  hell, paper rules!  oh yeah, americans are smart!

Wed, 02/29/2012 - 14:16 | Link to Comment ShankyS
ShankyS's picture

Wait, wait, wait a minute, will someone plese remind me how we got into this financial crisis in the first place? </sarc>

Wed, 02/29/2012 - 14:19 | Link to Comment carbonmutant
carbonmutant's picture

You didn't question authority... :-)

Wed, 02/29/2012 - 14:40 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Because he is a Patriot.

Wed, 02/29/2012 - 14:52 | Link to Comment disabledvet
disabledvet's picture

I know this may sound strange to humans but we are in fact an Alien race from the planet Aarghforyedmoin. In our world "everything is in fact the exact opposite of what we say." when we landed here we immediately in your "Wall Street" for only there did we find we find kindred spirits of a sort. things went great until your human year...2008 (known in our world as time zorplutta) then people uttered words like "trillions" and "easings" and quite frankly the strain of our ways became tiresome. We now habitate in your island world with your sandy beaches and your women. Thank you.

Wed, 02/29/2012 - 14:43 | Link to Comment disabledvet
disabledvet's picture

I skipped the "mathy thing" myself.

Wed, 02/29/2012 - 14:26 | Link to Comment ryanseventyfive
ryanseventyfive's picture

MDB would like a word with you.  Somthing about gimmick infringment or something.

Wed, 02/29/2012 - 14:13 | Link to Comment true brain
true brain's picture

Everyone is ignoring the elephant in the room: US debt. Of course Bernanke is going to print, he has no choice. Interest rate is going to be flatline beyond 2014. Why because of US debt; he will monetize all US debt as far as the eye can see. Even if the interest rate creeps up to 2-3%; US is in deep trouble. Once the interest rate payment exceeds 30% of revenue, which will happen to US government this year, the US is toast. He is only saying that QE3 is not on the way to bring down gold and oil to pave way for Obama re-election; he can't let gold and oil skyrocket and wake up the sheeple. All media circuit analysts are clueless. I'll buy more gold on the dip.After that more printing, print the debt away; no way out.

 

Secondly, i'm sick and tired of reading idiotic posts by morons who got nothing  intelligent to say. either make me laugh or educate me. otherwise shut the fuck up.

Wed, 02/29/2012 - 14:18 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Agree with what you said EXCEPT the interest rate stuff.   Fed will buy any and all government paper - they 'give back' the interest every year.   Treasury has no fears of paying interest.   The ponzi won't unravel because of interest payments.   They've got that base covered

Wed, 02/29/2012 - 15:20 | Link to Comment AlaricBalth
AlaricBalth's picture

I'm inclined to agree with true brain and respectfully disagree with you concerning interest rates. Net foreign holdings of Treasuries has increased in the past year by $296.5 billion. Although China and Russia have been net sellers, Japan, Canada and the U.K. have more than made up for it. As interest rates rise you will see greater foreign participation. 

Wed, 02/29/2012 - 14:23 | Link to Comment A Lunatic
A Lunatic's picture

Feeeeed meeeeee!

Wed, 02/29/2012 - 14:30 | Link to Comment lotsoffun
lotsoffun's picture

when they decide to take the chips off the table - pm's will be down also.  i'm long term not a 'trader'.  long term you want pm's.  but the dow, sp, rus 2000 are going to drop 50% and so will commodities.  then the hyperinflation kicks in and the stocks won't go up this time.  the commodities will

 

Wed, 02/29/2012 - 22:09 | Link to Comment StychoKiller
StychoKiller's picture

The Asian PM whipsaw continues, Au up $21 and Ag up $0.44, currently.  The Chinese luuv the Bernank and his Ponzi wayz! :>D

Wed, 02/29/2012 - 14:38 | Link to Comment jtg
jtg's picture

You are right, there is no way out, we are boxed in. Most think that if only the Republicans or Democrats push the right buttons all will be well again. We are entering the last bubble, pushed by the central banks monetizing debt and debasing currency. The antidote is physical gold and silver, and staying out of the way of the statist steamroller and social discord to come. We will not be out of this until the early 2020's.

Wed, 02/29/2012 - 14:46 | Link to Comment Melin
Melin's picture

A caller on Peter Schiff's show talked about finally finding the hidden treasure in a Polish home.  The family knew their grandparents had hidden all their wealth during WWII and had searched for years to find it.  They were certain they'd find silver and gold. 

They found long-dead fiat instead.

Wed, 02/29/2012 - 14:48 | Link to Comment collon88
collon88's picture

By my calculations, interest payments as a % of federal tax revenues for 2011 was 20.9%.  This is based on $454 billion in interest payments and $2.173 trillion in tax receipts.  It is likely your 30% figure for 2012 is way out of line.  What are you basing this number on?

Wed, 02/29/2012 - 14:59 | Link to Comment Obaminator
Obaminator's picture

You Dare challenge da TRU BRANE(sic)? now now.

 

Wed, 02/29/2012 - 15:40 | Link to Comment true brain
true brain's picture

It's not out of line because this is only feb/2012. You have to estimate what the deficit will be, what gdp will be (I'm betting flatline to recession toward end of year), what tax revenue will be.  And if they do iraq redux in iran, then of course it's going to hit 30%. Even if it does not hit 30% this year, and it hits that next year; tell me what the difference is. the equation and the prognostication have not changed, only delayed a year, not a bit deal. the big picture will still be the same: indefinite printing.

Wed, 02/29/2012 - 14:56 | Link to Comment Obaminator
Obaminator's picture

How the Fuck do we make you Laugh?  AHHHH AHHHH AHHHH

 

SILENCE!

Wed, 02/29/2012 - 16:19 | Link to Comment true brain
true brain's picture

I'm laughing already.

Wed, 02/29/2012 - 14:59 | Link to Comment disabledvet
disabledvet's picture

"what do you mean my math formula was the entire planet's financial system?"

Thu, 03/01/2012 - 01:28 | Link to Comment Elvis is Alive
Elvis is Alive's picture

"Even if the interest rate creeps up to 2-3%; US is in deep trouble. Once the interest rate payment exceeds 30% of revenue, which will happen to US government this year, the US is toast."

On one hand, I agree. If we hit 4 to 5% interest rates on our debt, we likely will have to default.

However, we "only" paid $200+billion in interest this year, and that is "only" 10% of the total budget. The interest rate averaged around 1.5%. To get to your 30% amount, we'd have to be at 4.5%

The real thing is if you have growth, you get inflation, and then you have to raise rates. Well, if we have that, we default, so the government is going to squash any growth.

I think people misunderstand the debt issue thinking that we MUST suffer from inflation from all this supposed money printing. What we really are going to suffer from is no growth just like Japan has.

Nobody is thinking long term anymore. We needed to deleverage, raise taxes a little, balance the budget, and cut entitlements. We could have sacrificed short term pain for long term gain, but we did the opposite.

I think if a president came out and asked that everyone cut back it would be doable. Reagan was the last president who was honest and said that to fix things there would be pain. No one dares say anything like that today. Well, Obama said it and then didn't do it.

I don't think we default as much as have twenty years of no growth. At 1.5% rates, this country can handle $25 billion of debt, and guess what? We are going to be there in five or six years.

Wed, 02/29/2012 - 13:59 | Link to Comment idea_hamster
idea_hamster's picture

.

Wed, 02/29/2012 - 13:58 | Link to Comment JumpinJonnyK
JumpinJonnyK's picture

keep an eye on the gold price and silver prices and buy when it's down (like today).  Just keep buying small amounts every month because you are going to need protection!!

Wed, 02/29/2012 - 14:01 | Link to Comment SRVDisciple
SRVDisciple's picture

I've got some SPDR GLD, but do you recommend physical gold and silver?

Wed, 02/29/2012 - 14:20 | Link to Comment LowProfile
LowProfile's picture

Depends on whether you prefer paper promises or the actual thing in your pocket.

Wed, 02/29/2012 - 14:29 | Link to Comment Piranhanoia
Piranhanoia's picture

Live in Canada?

Wed, 02/29/2012 - 13:59 | Link to Comment battle axe
battle axe's picture

Wasn't Lehman and Bear Sterns well CAPITALIZED also BENNY?

Wed, 02/29/2012 - 14:04 | Link to Comment nope-1004
nope-1004's picture

+1.

Why should the Fed only lie once or twice?  Their existence is a lie, so that's their MO.

 

Wed, 02/29/2012 - 14:06 | Link to Comment A Nanny Moose
A Nanny Moose's picture

So were Fanron and Fredron

Wed, 02/29/2012 - 14:09 | Link to Comment Nothing To See Here
Nothing To See Here's picture

I think the Greek banks are well capitalized too if I follow my central bankster textbook correctly.

Wed, 02/29/2012 - 14:14 | Link to Comment Manthong
Manthong's picture

"The ECB Is Well Capitalized"

It depends upon what the meaning of the word "well" is.

                       Now if you take "well" to mean deep hole with toxic sludge at the bottom, he is entirely correct.

Wed, 02/29/2012 - 14:24 | Link to Comment SAT 800
SAT 800's picture

Correct. Perfectly well capitalized. Approved by the regulators, etc. everything was fine. Until it wasn't. One of the main tells for a major stage in the present de-fuckafication having passed, will be the death of the Euro. And, I mean, death. not one to one, not "a problem", death. this is one of the things that will have to happen before we can start to get things straightened out. The Euro was a giant mistake; it will be corrected.

Wed, 02/29/2012 - 14:41 | Link to Comment SoCalBusted
SoCalBusted's picture

LEHMAN and BEAR STERNS are now well capitalized.

Wed, 02/29/2012 - 14:08 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Trav, you own silver.

Wed, 02/29/2012 - 15:02 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Cut your nose off to spite your face?

Wed, 02/29/2012 - 14:11 | Link to Comment johnQpublic
johnQpublic's picture

the ECB is well capitalized

in fact, all the letters "ECB" are capitalized

Wed, 02/29/2012 - 14:27 | Link to Comment SAT 800
SAT 800's picture

An extremely stupid comment.

Wed, 02/29/2012 - 14:30 | Link to Comment Banksters
Banksters's picture

Trav, was your first menses traumatic?   

 

 

Wed, 02/29/2012 - 14:32 | Link to Comment SAT 800
SAT 800's picture

LOL.

Wed, 02/29/2012 - 14:59 | Link to Comment tmosley
tmosley's picture

You own silver you hypocrite. 

Wed, 02/29/2012 - 17:20 | Link to Comment GCT
GCT's picture

ROFLMAO sold my PM's yesterday.  Did you get stuck holding the bag, come on it is another fed public meeting day with Ron Paul there.  They had to make a point to him.  The dipsticks.  Cannot have Ron Paul correct today about silver!

Wed, 02/29/2012 - 13:55 | Link to Comment prains
prains's picture

looks like it could ruin a few marriages

Wed, 02/29/2012 - 14:08 | Link to Comment BlackholeDivestment
Wed, 02/29/2012 - 14:33 | Link to Comment prains
Fri, 03/02/2012 - 02:47 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

Peains, I can't stop laughing http://www.youtube.com/watch?v=pOMqqI-kzHY

Wed, 02/29/2012 - 14:02 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The Golden rule.

Someone in author-ity must speak the lie in order to make it the 'truth' for those who wish (or are desperate) to believe the lie.

Ben Bernanke: "The ECB Is Well Capitalized"

Besides. Based upon the (ever changing) rules of the levered credit based fiat game, they really are well capitalized.

Wed, 02/29/2012 - 14:07 | Link to Comment Thamesford
Thamesford's picture

thought that was the Hypocritic oath ?

Wed, 02/29/2012 - 14:28 | Link to Comment Miles Kendig
Miles Kendig's picture

Cog, there is a chance Bernanke actually believes all the shit he's shoveling which makes him a perfect agent of shit promulgation.  Perhaps he fails to fully appreciate what being the Director of Intensity Programming, Special High Intensity Training is all about ... and perhaps he doesn't

http://www.fortunecity.com/campus/books/845/shit.htm

Wed, 02/29/2012 - 14:41 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"Cog, there is a chance Bernanke actually believes all the shit he's shoveling which makes him a perfect agent of shit promulgation."

I tend to agree. The patsy must always believe what s/he is doing is correct, righteous even (or just God's work).

The very best patsies are those who are extremely intelligent, self assured and (dare I say it) egotistic. Can't have the captain of the Titanic wavering just before plowing into the iceberg......now can we?

Wed, 02/29/2012 - 14:49 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Are you saying that the captain of the Titanic....with all those Robber Barons on board.....???

Wed, 02/29/2012 - 14:55 | Link to Comment agrotera
agrotera's picture

No way Miles...although in my opinion he might have been an "innocent" before he took his position as chairman-- and then later when he likely got the instructions of what he WOULD do to play out the bail outs and the other ponzy scams that have been executed on our country via the worlds largest privately owned corporation that runs our country...for a while, he looked heavily medicated and like someone who was speaking under duress...he may have accomodated to his own prison of lies out of necessity for the sake of his existence, in my opinion.  SO in a way, i can be sympathetic toward him for what he might be having to endure as a indentured puppet servant for the owners of the private company for which he is figurehead.

Wed, 02/29/2012 - 15:32 | Link to Comment Miles Kendig
Miles Kendig's picture

Oh, I by no means am attempting to say he is somehow innocent my dear agrotera.  Just a believer in the rightness of his action.  As Cog and I well appreciate, a true believer of his theology.  Much like Heydrich in his day Bernanke is a brilliant and very destructive man.  Increasingly I am of the opinion that the guy is criminally insane and belongs safely ensconced within the confines of the ADX in Florence CO for the remainder of his days.

Wed, 02/29/2012 - 16:17 | Link to Comment agrotera
agrotera's picture

MK -- Your theory that he is criminally insane fits my observations better than my theory--thank you for your keen insight MK!!! 

Wed, 02/29/2012 - 17:18 | Link to Comment Council of Econ...
Council of Economic Terrorists's picture

"Is the Fool actually a Magician?"  - Robert Anton Wilson

Wed, 02/29/2012 - 13:55 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Something is going down soon, this ain't the usual rhetoric. ISDA, someone going BK, or geo-political.

Wed, 02/29/2012 - 13:59 | Link to Comment Everybodys All ...
Everybodys All American's picture

what makes you think that ... just because Bernanke needs buyers of his paper?

Wed, 02/29/2012 - 14:22 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Timmy Geithner and the U.S. Treasury need the buyers...Bernanke merely needs congress to keep borrowing and to renew the Fed's charter next year.

Want to understand how this intentionally comples system works?  Read The Creature From Jekyll Island.

 

Wed, 02/29/2012 - 14:36 | Link to Comment Comay Mierda
Comay Mierda's picture

"Something is going down soon"

I agree. 3/6/12. something will happen. the nwo is obsessed with numerology and the number 21. 3+6+12=21 and its 21 years to the day of bush's nwo speech. (also 9/11/01 = 9+11+01 = 21)

Wed, 02/29/2012 - 14:43 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Neon" Deion Sanders also wore the number 21.  He must be an Illuminari.

Wed, 02/29/2012 - 14:46 | Link to Comment trav7777
trav7777's picture

yes, this is why that apocalypse happened on 2/7/12...or was it 1/8?  Fuck, I am still recovering from it so I can't remember.

Wed, 02/29/2012 - 14:49 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

12/21/12 Trav, c'mon.

Wed, 02/29/2012 - 14:58 | Link to Comment unrulian
unrulian's picture

right...if i have sex with your mom 7 times x 3 inches = 21 total inches taken...if i do it on 3/6/12 =21 at 9pm that is 21st hour of 3+6+12= 21...who gives a fuck...GWB couldn't add 2+6 it's all fuzzy math to him

Wed, 02/29/2012 - 13:56 | Link to Comment youngman
youngman's picture

Hey...its Banker speak....

Wed, 02/29/2012 - 13:56 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

Tyler look - "ECB".. spelled with all caps.. ergo, it is well capitalized.

Wed, 02/29/2012 - 14:00 | Link to Comment Thamesford
Thamesford's picture

Yes! That and the "well" of toner cartridges at their disposal

Wed, 02/29/2012 - 14:00 | Link to Comment economessed
economessed's picture

Interesting.  I thought he omitted some punctuation in his delivery:

The ECB is, well,......"capitalized."

Wed, 02/29/2012 - 14:39 | Link to Comment Thamesford
Thamesford's picture

It's hard to distiguish his intonation so could have been.

"The ECB is well. Capitalized?"

Wed, 02/29/2012 - 15:55 | Link to Comment Calmyourself
Calmyourself's picture

He was misquoted he said "capsized" not capitalized..

Wed, 02/29/2012 - 13:56 | Link to Comment oogs66
oogs66's picture

But their assets always pay par. Because they keep lending until they do :D

Wed, 02/29/2012 - 13:56 | Link to Comment DIEKeynesianEco...
DIEKeynesianEconomics's picture

My favorite is when he said the Fed doesn't own gold.

 

Don't you people reailze this HAS to happen for Bernanke to QE? The market is essentially forcing him to do it. Just buy the dips, don't listen to the trolls.

Wed, 02/29/2012 - 13:57 | Link to Comment EmileLargo
EmileLargo's picture

One could write a book about all of Bernanke's quotes and what happened after he said those things. Would make for fun reading.

Wed, 02/29/2012 - 14:16 | Link to Comment SAT 800
SAT 800's picture

Well, maybe; If you had a really sick sense of humor.

Wed, 02/29/2012 - 14:02 | Link to Comment wee-weed up
wee-weed up's picture

No shit! The ECB is well funded - they're backstopped by him and OUR money!

Wed, 02/29/2012 - 13:58 | Link to Comment samwell
samwell's picture

Berkacke is a new muppet character.  his specialty is he doesn't know how to tell the truth--ever.  and this pathetic liar supposedly graduated from MIT with a Ph.d?

Wed, 02/29/2012 - 14:00 | Link to Comment JPM Hater001
JPM Hater001's picture

Evil Muppet.

Wed, 02/29/2012 - 14:24 | Link to Comment lotsoffun
lotsoffun's picture

anybody seen geithner or corzine lately?  at least bennie seems to be 'clean'.

 

Wed, 02/29/2012 - 13:58 | Link to Comment The trend is yo...
The trend is your friend's picture

Thanks Germany....you rock. 

ECB

Wed, 02/29/2012 - 13:58 | Link to Comment YesWeKahn
YesWeKahn's picture

I think he was referring to a "relatively" well capitalized ECB comparing to the US FED which is probably 50:1 leveraged.

Wed, 02/29/2012 - 13:58 | Link to Comment RobotTrader
RobotTrader's picture

Bernanke is the "Greatest of All Time"

 

No other central banker in history has been able to:

1) Rally stocks 100% in the midst of the worst recession in 75 years

2) Crash Treasury market yields to 45-year lows at the same time

3) "Whip Inflation" by uttering a few words that sends commodities crashing

4) Engineer multiple bailouts and rescues, all with resounding success

And the whole time, he remains unflappable in the face of constant criticism from the Tea Partiers and verious members of Congress

Wed, 02/29/2012 - 14:00 | Link to Comment YesWeKahn
YesWeKahn's picture

Merry him then.

Wed, 02/29/2012 - 14:06 | Link to Comment Tsar Pointless
Tsar Pointless's picture

It would be a merry marriage, right?

Hey Robo - been to a grocery store lately? How about a gas station?

"Whip inflation". Kind of like Gerald Ford did, eh?

https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcST599gXnK7WD33FzHQ-...

Yeah. Inflation is "whipped" - just like Robo's mom each and every night in his basement, right Robo?

Wed, 02/29/2012 - 14:02 | Link to Comment Everybodys All ...
Everybodys All American's picture

Loses US AAA credit rating and reserve currrency status in the process.

Wed, 02/29/2012 - 14:06 | Link to Comment surf0766
surf0766's picture

Causes 2008 food riots across the globe leading to the Arab spring from easy money

Wed, 02/29/2012 - 14:59 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

Surf0, that's right! Count Suicide Vampire Squid of the Great Wal Mart of China does not like it if there are no sheep to fill the Fed Head in the bed he made, he just can't sleep if he's not at least screwing somebody. http://www.youtube.com/watch?v=RP_az7U7YjI&feature=related

Wed, 02/29/2012 - 14:08 | Link to Comment kito
kito's picture

we lost reserve currency status? has the sdr been implemented? did i miss something??? 

Wed, 02/29/2012 - 14:10 | Link to Comment Everybodys All ...
Everybodys All American's picture

No you didn't miss anything ... just a matter of time though.

Wed, 02/29/2012 - 14:02 | Link to Comment DIEKeynesianEco...
DIEKeynesianEconomics's picture

No other central banker has pressed CTRL+P that much.

Don't give him too much credit. It's simply his ability to press CTRL+P coupled with scared EUROS coming here.

 

Wed, 02/29/2012 - 14:07 | Link to Comment bbq on whitehou...
bbq on whitehouse lawn's picture

Dont worry youll see 14k on the dow by the end of the year. The year after you will see 10k so keep your hats at the ready.

Wed, 02/29/2012 - 14:21 | Link to Comment lotsoffun
lotsoffun's picture

won't be the same this time.  it won't come back.  more like 6 or 8 k.  seriously.

 

 

Wed, 02/29/2012 - 14:52 | Link to Comment HarryM
HarryM's picture

Wouldn't be surprised to see the market tank 1-2 months before the election - LOL

Wed, 02/29/2012 - 14:06 | Link to Comment SAT 800
SAT 800's picture

I liked your pink Satin Bra better, that you used to wear. I'm not reading any of your posts until you put my favorite bra back on; so there.

Wed, 02/29/2012 - 14:08 | Link to Comment taniquetil
taniquetil's picture

Isn't the fact that he can both rally stocks and crush Treasury yields a bad thing?

Wed, 02/29/2012 - 14:20 | Link to Comment lotsoffun
lotsoffun's picture

bernake is a genius.  what's bad for you might not be bad for his clients.  he works for lloyd and jamie.  as does obama.

 

Wed, 02/29/2012 - 14:10 | Link to Comment Sophist Economicus
Sophist Economicus's picture

You're almost as funny as China-bot AnAnonymous...

Wed, 02/29/2012 - 14:18 | Link to Comment lotsoffun
lotsoffun's picture

robo - everybody likes to try to take you down - but you are right.

(for now).  and that's the whole point.  take advantage of it all now while you can, because it's only a small number of people that can take advantage of it.  get on the bus.  there will be one stop and one stop only and then everyone else that stays on the bus gets to have lotsoffun.

 

Wed, 02/29/2012 - 14:36 | Link to Comment SAT 800
SAT 800's picture

The "short bus"? thanks, anyway. you can have my seat.

Wed, 02/29/2012 - 15:13 | Link to Comment Vergeltung
Vergeltung's picture

why, oh why, must this idiot continue to post here.....

Wed, 02/29/2012 - 14:00 | Link to Comment Racer
Racer's picture

Sub-prime is well contained

Wed, 02/29/2012 - 14:01 | Link to Comment reload
reload's picture

36.6 x leverage is bad enough, but consider the real value of the rubbish on their books and its VERY bad and probably more like 60 x levered if the rubbish was valued correctly.

Wed, 02/29/2012 - 14:01 | Link to Comment bbq on whitehou...
bbq on whitehouse lawn's picture

if the red area was her stuff and the green was his stuff that could be a closet.

Wed, 02/29/2012 - 15:59 | Link to Comment Calmyourself
Calmyourself's picture

If red was my desire for bunga-bunga and green was hers, it would be reality..  damn..

Wed, 02/29/2012 - 14:02 | Link to Comment Christoph830
Christoph830's picture

"Mission Accomplished"

Wed, 02/29/2012 - 14:02 | Link to Comment Dick Darlington
Dick Darlington's picture

But but but the classic consensus voodoo jungle economics rule of thumb says more debt/leverage is more growth!

Beard Monkey truly is the best of comedians. It would be even more fun to listen to this guy if it wasn't so TRAGIC...

Wed, 02/29/2012 - 14:03 | Link to Comment Flakmeister
Flakmeister's picture

You missed the typo...

He said "well crapitalized..."

Wed, 02/29/2012 - 14:11 | Link to Comment falak pema
falak pema's picture

lol, all we are saying is...that we be at par!!!

Is what Ben and Jerry (of ECB)  now sing.

With a D/E ratio of 36 they beat all other banks hands down. But that is the exorbitant privilege of Ben and Jerry. 

Wed, 02/29/2012 - 14:03 | Link to Comment DB Cooper
DB Cooper's picture

Next head of the ECB will be Jon Corzine - his kind of leverage.

Wed, 02/29/2012 - 14:03 | Link to Comment bania
bania's picture

define "well"

Wed, 02/29/2012 - 14:21 | Link to Comment Flakmeister
Flakmeister's picture

A deep hole in the ground...

Wed, 02/29/2012 - 14:04 | Link to Comment SAT 800
SAT 800's picture

Well Capitalized !  Well Capitalized ! Bwa-haa-haa ha, har, har, har. Oh, G od, stop; it only hurts when I laugh. Well capitalized, OMFG, that is funny. What a Joke.

Wed, 02/29/2012 - 14:05 | Link to Comment lolmaster
lolmaster's picture

PPT was heavily shorting PMs today

Wed, 02/29/2012 - 14:06 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yes.  Bernanke leased a tonne of his "Gold certificates", that's all.  Move along....

Wed, 02/29/2012 - 14:47 | Link to Comment MoskovietMosquito
MoskovietMosquito's picture

Yes...Lack of knowlege of whether there are any gold holdings and then a mention of "gold certificates" keeps bouncing around in my head.  What kind of "gold certificates" is Benny sitting on anyway? 

Wed, 02/29/2012 - 14:51 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The kind that says, "Get out of jail free".

Wed, 02/29/2012 - 14:05 | Link to Comment azzhatter
azzhatter's picture

almost fell off my chair when he said that. The man is clearly sick and delusional

Wed, 02/29/2012 - 14:06 | Link to Comment Moneyswirth
Moneyswirth's picture

Laughing. My. Fucking. Ass. Off.

Wed, 02/29/2012 - 14:06 | Link to Comment Seasmoke
Seasmoke's picture

everyone is well capitalized........that is , until they aren't

Wed, 02/29/2012 - 14:10 | Link to Comment SAT 800
SAT 800's picture

Yes, that's the new normal alright. It's horrifying to realize that this was run by their psychologists first, and they expect that it will go down alright, with "the majority". Groan.

Wed, 02/29/2012 - 14:06 | Link to Comment ebworthen
ebworthen's picture

No QE3?

The markets are so stupid.

What, $2 Trillion in Europe isn't QE?

Non-stop currency swaps to Europe via the FED isn't QE?

Ben says no QE in word therefore there is no QE.  "Just don't throw me in that there briar patch."

Oy Vey!

Wed, 02/29/2012 - 14:15 | Link to Comment Chimerican
Chimerican's picture

There is no further need for liquidity injections. All major banks have sufficient capital to withstand any downturn in the European economy. As currencies stabalize, it is time to sell precious metals which will underperform going forward.

Wed, 02/29/2012 - 14:07 | Link to Comment oogs66
oogs66's picture

Well capitalized or can print their way out of any hole?

Wed, 02/29/2012 - 14:07 | Link to Comment dwdollar
dwdollar's picture

"I am not a crook."

"Read my lips; no new taxes"

"I did not have sexual relations with that woman."

Wed, 02/29/2012 - 14:08 | Link to Comment oogs66
oogs66's picture

"Mission accomplished"

Wed, 02/29/2012 - 14:10 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Except Georgie Boy wasn't lying; they accomplished their mission.

Wed, 02/29/2012 - 14:44 | Link to Comment roadhazard
roadhazard's picture

"Is are children learning".

"I am the Decider."

Wed, 02/29/2012 - 14:09 | Link to Comment Bullish Bear
Bullish Bear's picture

:O

Wed, 02/29/2012 - 14:10 | Link to Comment Benjamin Simon
Benjamin Simon's picture

We can only hope the Bernank will be "well hung" for his deeds.  Back off Bawney, I didn't mean it that way.

Wed, 02/29/2012 - 14:11 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

Is that bad? My kid has more money in his account.

Wed, 02/29/2012 - 14:11 | Link to Comment Miles Kendig
Miles Kendig's picture

Balance sheet considerations should not seriously constrain central bank operations - Ben Bernanke

http://www.federalreserve.gov/boarddocs/speeches/2003/20030531/default.h...

Wed, 02/29/2012 - 14:14 | Link to Comment surf0766
surf0766's picture

I'll chip in to have this printed in a full page ad ...

Wed, 02/29/2012 - 14:15 | Link to Comment kaiten
kaiten's picture

If I had ability to print money, my leverage would be at least 100x.

Wed, 02/29/2012 - 14:14 | Link to Comment PaperBear
PaperBear's picture

I am sure that everyone one of the ZH readers will scoff at this statement.

Wed, 02/29/2012 - 14:17 | Link to Comment Chimerican
Chimerican's picture

Most ZH readers have their heads up their arses. Central bankers know what tyhey are doing. The readership of this blog appears to be comprises of school boys and conspiracy nuts.

Wed, 02/29/2012 - 14:40 | Link to Comment haskelslocal
haskelslocal's picture

Sad but true and Tyler knows it too. Two years ago this place was pumping with intelligence and good thought provocing discussion. Now? It's apparant most comments are moronic and infantile and thus mostly derive from trolls.

YET IT'S STILL MY NUMBER ONE SOURCE FOR GREAT INFORMATION! Thanks Zero Hedge!

It's just that the readership is mostly depressing and living in fear.

Wed, 02/29/2012 - 15:42 | Link to Comment simone
simone's picture

There is a wonderful script that lets one block asinine users.  It's not too user friendly, but well worth the effort to get it running.

http://userscripts.org/scripts/show/124836

Wed, 02/29/2012 - 14:15 | Link to Comment chinaboy
chinaboy's picture

ECB is well capitalized but gold and silver (especially coins and bars)  are not.

Wed, 02/29/2012 - 14:15 | Link to Comment delacroix
delacroix's picture

ecb   oh wait,  ECB   there,  recapitalized, just like ben does.

Wed, 02/29/2012 - 14:16 | Link to Comment Bastiat009
Bastiat009's picture

If gold was up 3%, I am sure it would on top of your page. But since it's crashing, you won't talk about it. (I understand that the reason for the gold crash is murky at best but still ... )

Wed, 02/29/2012 - 14:26 | Link to Comment Miles Kendig
Miles Kendig's picture

Actually it was on top until it rotated.

http://www.zerohedge.com/news/europe-closes-lows-stigma-trade-ramps

The EUR tumbled over 100pips towards 1.3350 as the USD rallied back to the week's highs. Silver (and Gold) crashed into the European close (down over 7% on the day at one point) while Treasuries sold off and European sovereigns leaked wider (except Portugal which crashed and Italy which compressed modestly). Quite a day - Tyler Durden

Ever try actually reading botboy?

Wed, 02/29/2012 - 14:41 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

PWNED!

(whatever pwned means lol)

Do NOT follow this link or you will be banned from the site!