Bernanke Is "Very Concerned" About Europe, Won't Bail Out European Banks
Just a headline for now, but the last time Bernanke was "very concerned" about something, the presses were already in motion.
- SENATOR HATCH SAYS BERNANKE `VERY CONCERNED' ABOUT EUROPE - BBG
And the kickers:
- BERNANKE TELLS SENATORS NO FED RESCUE OF EUROPE BANKS: GRAHAM - BBG
- BERNANKE `VERY CLEAR' FED HAS NO EUROPE BANK AID PLANS: CORKER - BBG
Unless, of course, he has no other choice...
(9 votes)
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Well, just put up a no-fly-zone in Europe and you get rid of those money-copters... and drones
still say it was fishy that qe was not even alluded to yesterday's announcement.
had to be a reason.
He's just now getting "very concerned"? That Bernankster, right on top of the situation.
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To be honest I don't think Benny has much room to print. People in America keep giving creditors promises that they won't duplicate any more dollars, and then they just go back on it.
Eventually the creditors (who also export to America all their stuff) are gonna say "fuck this shit." Benny must tread lightly.
Especially given the fact that almost all American post-90s military hardware is all compromised by Chinese semiconductors with hackable backdoors.
http://azizonomics.com/2011/12/14/americas-military-weakness/
Kill Gold... Check
Kill Oil... Check
Kill Middle Class... Check
OK Team Ben Shalom, Print Away!
"" * BERNANKE TELLS SENATORS NO FED RESCUE OF EUROPE BANKS: GRAHAM - BBG ""
Hey, why not???
We OWN Iraq, Afghanistan, why not own all the EURO BANKS also ???
Bernanke will sit on his thumbs. His policy dictates not to intervene in markets. The Federal Reserve has stayed out of the finance this long, they will not change policy and fund entities such as the European Banking system, that is certain.
"......won't bail out European Banks"
The independent Fed works in secrecy. These idiot senators won't even know when it happens.
He should be worried , when the last time Oil was down 5% and the SPX down 1%...1929, 1934, 1987, 2000, 2008...ect....whatever
Flash crash imminent.
Well a Flash Crash and maybe the Fed intervens; maybe.
Agreed. He's going to need serious cover fire in the US if he wants to socialize a big ole' European bailout. Will have to make it look like a US bailout(with the commensurate implicit guarantees) and swap the bejeezuz out of his balance sheet. I can't see it happening without a panic dump as a screen.
Coordinated action, bitchez
It pisses me off that an unelected individual is now going to arbitrarily dilute our currency in accordance with his econo-religious beliefs in order to "save" a foreign continent because our previously bailed out domestic banks have too much exposure to the sovereign debt of said foreign continent. Meanwhile they still charge average Americans $2.95 for withdrawing their own funds from a "non-Bank ATM."
Can someone please explain how we wouldn't have been better off letting these corrupt financial syndicates fail in 2008 like they should have?
I wish I could, but there is no explanation.
"we have to save the banker because if we dont they wont give us any more money"...
MarketWatch blogger...
just another example of why this country is doomed.....but hey, at least he answered ur question.....
Let's see at the end of this quarters financing report by BHO if he now has $1.2B so we'll know where the MFG money went.
It's not about us.
It's a big club and we ain't in it.
"........ unelected individual"
You seem to imply that "elected individuals" are working in our favor which they are sooooooooooooo not.
Maybe Bernanke can bail out the banks. I hear he's a multi-billionaire. Surely he'd be willing to put his money where his mouth is?!?!?!
-John
http://www.youtube.com/CarMarketer
+1 too funny...and sad...and unfortunately true! Oh and I want to thank MF Global for putting PMs on sale, heading down to the coin shop.
Not me, I'm selling mine and letting it all ride on JEF.
Booyah!
BOOYAH
Anyone else noticing more Emergency Broadcast System "Tests" lately?
Sounds like Bernank has been taking lessons from Noda.
Funny choice of words, Corzine was 'deeply concerned' about what happened with his company...
FLight to safety is the dollar.. I think gold is over done though - http://hedge.ly/shWwRh
The Bernank is very concerned as he threads the needle, watching money pour into negative real interest rate USTs, which is the only way the U.S. can service it's month to month, minimum monthly payment credit card like, essentially interest only debt installment payments.
In the short to medium term the dollar will be fine but we are in terrible shape as well, the comex is in trouble you could call it a fractional reserve system...get some physical sleep at night.
Is he 'watching closely'? nooooo ddaaaaaa
But didn't Obama urge the Eurocrats to take "decisive and forceful" action? Why worry?
***chuckle*** reminds me of this story about the Chicago Olympics....
Yea well, I'm very concerned about the Excrement Pile Bernank
http://vegasxau.blogspot.com
Today's 3:30 rumor could be a whopper!!!
memo said no rumor today
I heard a rumor there might be a rumor.
They say the rumor might be a tumor.
Place your bets* on the afternoon rumor of the day!
*Winners receive fiat money that is not be backed by any tangible assets
Screw the damn rumors, ANYONE that knows ANYTHING already understands how amazingly bullish this is!!!! /sarc off
Hatch is only concerned about his royalties on rap recordings and the wrap parties he gets invited to. In the temple.
CTRL P; Strong Dollar Policy; CTRL P; Strong Dollar Policy; CTRL P; Strong Dollar Policy
Tell a lie long enough and it becomes the truth.
-Joseph Goebbels
Yes, the irony is thick
And how well did that work out for Germany when the reality of Russian tanks showed up?
This was already said yesterday in the fomc minutes. Why spout bs rumors.
he was just on the hill
Yes, he was and they are telling him that his options are limited.
Europe will die if Bernanke is not allowed to print. That is why he is very concerned.
That is also why he really is printing.
Fuck Bernanke and the Hatch he rode in on.
Nice BB sound byte to flash crash on . I am "very concerned."
Fuck Bernanke!
Ah now we have senators spreading the 3 o'clock rumors.
rumors about what?
After they call their brokers...of course!
Thank God modern printing presses need no ink or paper, just electrons.
I am thinking to myself ... How was bankrupt Weimar Germany able to afford the ink and paper to print all those bundles of worthless cash?
The ink and the paper must have been worth more than the worthless print on it? Children were using the stacks as building blocks, women were firing their stoves with it.
Just at what point are paper and ink worth more than the value of the bill?
Damn, that's some observation!!! And the labor too!
"Just at what point are paper and ink worth more than the value of the bill?"
from memory, the old consensus was at 50'000% price inflation per year - 1'000% stopped robbers from lifting banknote transports - inbetween some get this strange compulsion of spending time writing zeros on a piece of paper
In the last days of the Weimar death spiral, they only printed on one side of the paper. 50% ink savings, and 50% engraving savings. Still burned just as good in the stove.
Sheer lunacy! All because THEIR world doesn't function without FIAT.
How do you burn 0s and 1s?
I dunno, maybe that's why Large Hadron Collider was built.
Thats easy. They buy more inks/papers and ladors with worthless papers, circuraly.
They printed some money, then thought: "shit, we can't afford the ink and paper now"
So, they printed some more.
Tell you what, this printing money lark is a bitch of a vicious circle.
heard there's a bill proposing the taxing of electrons on the horizon.
they've run out of things that they can visually see to tax - so it's the next logical step.
and i hear tell there are lots and lots of electrons.
So THAT'S why copper dropped....
And, here, I thought they were going to vote on rounding everyone up that's on sites like this, and CTRL-P to infinity to fight inflation....
Matters not. Even electrons don't move fast enough to save this thing. See you on the other side.
somewhere in the basement (or penthouse?) of the FED there is a real live person sitting at a keyboard typing our money into existence.
remember three weeks ago when (one of the) Tylers noted the big drop in bank reserves and corresponding big increase in the FED's 'other' liabilities.
while there may have been momentary benefits to the possessor of the asset side of the 'other liabilities' by the next week the Fed's Big Typist typed down 'other' liabilties and typed up the Treasury's checking account at the FED.
last week, the Treasury wrote checks on its account which the FED's Big Typist covered by typing bank reserves back up.
So perhaps the 'other' liabilities thing was just a misdirection to cover the FED's current form of monetization.
It is no longer at the FED, the job has been outsourced to India.
lol
theory duly modified
you are the son of Gutenberg I believe...? Yes, the world has changed since the days of your father.
He's worried because he doesn't know wtf to do.
Is there something wrong with Europe?
I am there, a bit windy here in Europe, but nothing wrong! Bernanke must suffer from hallucinations.
It's a bit chilly in London but then it's that time of year.
my spidey sense has been off the charts today. something big is happening, they may keep a lid on it til after consumermas though. the rehypothecation breakdown is beginning, MF global may have been the spark. my gold is looking extra shiny today, even though the spot prices are collapsing. hmmm.....
Price action in the issues I follow is odd today no doubt. I think end of year rebalancing must be going on full force.
well with all the US corp money invested there after 08 crisis in the US, it will hit back hard if they fall, remember this is the second largest economy in the world as a zone.
http://www.ecomm-unity.com/group/financial-crisis-worldwide/forum
http://www.ecomm-unity.com/group/financial-crisis-worldwide/forum/topics...
UR UP!
if hes worried then he obviously hasnt stocked up on canned goods and medicine, fortified his walls, acquired small calibre weapons and alternate sources of energy.....he really shouldve paid more attention to zh............
PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN....
Ben is clueless...just let it go and seek it's fair value dumbass
That's not his job. In fact that is the antithesis of his job description.
HBO SPECIAL TBTF part II?
Gold slam before QE announcement?
Ha! People who know what's actually going on are very concerned about Bernanke.
No problem: Let's just get the S&P downgrades done, let Greece default, and then start up the printing presses. Problem solved. /sarc.
Seriously, I think thats the plan. But not before a few good days of market tanking to force some selling.
Whenver politicans get involved, you can bet its a test balloon. I should know, I watched every episode of the West Wing.
Conclusion ... QE3 ... Bernanke learned his lesson with Lehman, he's getting set to throw Europe a big ass life line
George ... The Greek ... From Canada
ZERO HEDGE SAYS EVERYONE SHOULD BE `VERY CONCERNED' ABOUT BERNANKE - PT
Considerably less scary than the real thing, but you tried.
I was shooting for stupid looking. ;-)