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Live Webcast Of Politician Bernanke Explaining Open-Ended QE Two Months Before The Election
This is the last Bernanke conference that people will actually pay attention to, as we now know going forward everything that the FOMC will do. He better make it count.
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Where is Graham Summers now Bitchez??
GOTTO LOVE THIS DUDE! MY PM's LOVE HIM AND SO DO I!!!
YEEEHAAA!
I just checked again, and I can confirm: You cannot print gold, silver, or oil.
- November 15, 2010, 12:01 AM
Open Letter to Ben BernankeThe following is the text of an open letter to Federal Reserve Chairman Ben Bernanke signed by several economists, along with investors and political strategists, most of them close to Republicans:
We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued...
http://blogs.wsj.com/economics/2010/11/15/open-letter-to-ben-bernanke/
Come on guys, can't you all see that today's market ramp is pure evidence that the Obama Administration's policies are working? Chances of hearing this tonight on TV...100%. (sarc a la MDB)
And surprise surprise Steve LIESman gets the first question, again.
What a complete dud this guy is spewing.
I 100% guaranteed QE3 to all my clients so they could get filthy rich too, or they could put a bullet in my head should I fail.
Thank the Creator I'm off the hook now.
"The other accomodative tool we have is communication. We can better communicate to the public our intentions, and therefore better educate the public as to our goals, which will facilitate further investment and growth."
WTF??????
"I am a tool that jawbones"
That's my translation.
That Rothschild peeking out from behind the blue curtain is one hell of a ventriloquist, I don't even see his lips moving!
"I am Jabroni"
What a whore this guy is. Romney comes out tells the World if elected, Ben is done. So he uses the printing press to try and save Obama's job.
To steal a phrase from the kneejerk libs: "But what about the children Ben? You just increased the cost of milk, and formula, and all that birth control that walking cum dumpster Fluker needs. You are just being cruel to the little people, crushing them with inflation."
The good news is, I don't think even this will save Obama's job. He is finally showing the World that he is in way over his head.
Bernanke's Royal Mess!
http://www.youtube.com/watch?v=8DsSmMBWBdE
LIESman should just fellate him and get it over with
Actually, Steve Liesman a very good question about the inflation mandate.
Ben Bernanke is making a much riskier bet than most people realize. He really didn't squarely address Liesman's question about the inflation mandate and inflation targeting, but only talked in generalities about inflation remaining stable... which apparently helped justify the move toward even more QE.
When one looks backwards, the inflation picture has been quite benign. However, the market's measure on FORWARD inflation expectations have been heading north for about a year now-- and have spiked again in a significant way on this current move. Bernanke can explain away food and energy inflation as "temporary hazards"-- he can't counter what the market EXPECTS inflaiton to be over the next 5 years. And it's moving north of 3%...
In actuality, it's very apparent at this stage that the Fed is providing lip service to the inflation mandate-- and have locked into the terribly misguided belief that even more fuel on the liquidity fire will adequately address the employment picture. If the cause of high unemployment is even partially structural-- as more and more evidence suggests-- then Bernanke is pushing on a string. The key here is that Ben will DO EVEN MORE QE if he doesn't like what he sees on the employment picture.
I just think it's terribly dangerous and terribly foolish policy, as they're doing things they've never done before-- and have bought into the belief that they can reverse it with nominal consequence. They can't-- but they've just upped the ante a few hundred $ billion anyway.
I agree with what you are saying. I would like to add that, having stated that the FED's policies are working on the employment front, if things do not improve or they get worse (which I think they will), he has opened himself to take the blame. These are acts of desperation. When inflation gets out of control and unemployment goes to double digits there will be no recourse and the FED's raison d'etre will be called into question. Bernanke will be seen as the world's biggest fraud and huckster since John Law (which of course he is).
It never ceases to amaze me how we learn nothing from history.
Inflation is already out of control; unemployment is already double digits; it is being hidden and everyone is still begging the FED to print (MOAR!). It will continue until it can no longer, and Bernanke will be seen as an uninteresting footnote to the largest economic collapse in history which swept him along and left him no choice but the actions he took. Eventually history will point the finger of blame right where it belongs, in the face of the American people. The American people were handed a simple and humble but brilliant republic which required nothing more than that they follow the rule of law and live by the principle of subsidiaridy. They got lazy and greedy. The end.
Welcome to Bernankistan. I will personally make sure everyone here is truly happy. How do we do that you say, well its quite simple, we will have you Bernanketized into our system. If you are good, you get a job and get paid in Bernanke Bucks. Bernanke Bucks are a wonderful thing that you must use very quickly because they lose value as time goes on. So buy things as soon as you get them and help stimulate growth. Dont forget to vote for either Bernankabama or Bernankomney. Thank you and may God Bless Bernankistan
Wheres Kito at? Come on out you fucking little weasel!
LMAO. GOLED & SILVER bitchez...
http://www.zerohedge.com/news/bernanke-unleashes-path-new-all-time-highs-precious-metals#comment-2790611
He's taking it like a man.
Thx. Good one on him. Turkey sammiches all around...
Oh yeah, and FUCK YOU BERNANKE!
Sky rockets in flight. Afternoon delight. Afternoon delight.
but wait, ben just said i fixing to benefit from negative interest rates on my savings for years to come...
and ben said, they aint spending like the gubment, but they buyin shit with money they got stored somewhere in the basement....
he just said, aint no inflation, and not to trip...
and sale all ya'ls "tradition" u might be a hiding somewhere in the cabin........
so, knock off all that Gold and Silver buyin you hethens....
NOT!!!!!!!!!!!!!!!!!!
He always knew what he wanted to do even as a small child...
http://panzner.typepad.com/.a/6a00d83451591e69e2017c31b4fcf8970b-pi
When I was a young lad studying Economics and Finance in College things like this would make us cringe. The thought that comes to mind now is "why would an administration want to destroy an economy, and more so the Country".
Apparently they must know something that the Main Stream does not. We all know that across the globe, Central Banks are literally puking cash, the only outcome of this being won "is by somebody refusing to PAY, or somebody to refuse to BUY someone else's debt".
Who I wonder will win this game of straws?
The only outcome of this will be that NOBODY will want that cash anymore, least of them the people who work for a living and producers of commodities or food.
When CONFIDENCE is gone and PERCEPTION is that money is essentially worthless, you have hyperinflation. We are at that point.
Why accept FIAT for anything anymore? My skills, my labor and my products are worth more to me than the value of the number on the bills it supposedly represents.
Living in the USSR with a worthless rubel was no picnic. Just ask the Russians. If you wanted anything better than GREY, you better had tangible assets to barter with or "HARD" currency.
Today we're out of hard currency. So all that's left are tangible assets. Stock up because everyone else will.
This is also a good point on confidence, but I have to disagree that we are at that point. You,I, and others "educated on current events" may be to "that point". Don't forget that part of the equation that is most important...
The SHEEPLE factor!!
Sheeple, do not have a clue what money is, as long as they live paycheck to paycheck, and the MSM tells them it is all good. The bad thing is they will never know "UNTIL IT HAPPENS".
Stay thirsty, and pray for a better day!
3/4 of all dollar holders are outside the US. The American sheeple don't need to recognize what's happening for thing to go out of control, just the rest of the world who have not been quite so throughly indoctrinated by the FED.
#41
all the people I know are broke. This latest stupidity only helps those who already own gold or silver. Or who have enough money to speculate on its future. Real producers of actual things people need to live and enjoy life are fuked. Sure its fun holding a gold coin but how often do you do it. It also has been really tiresome listening to zhedgers waiting for this mans bullshit on a monthly basis. My first post but I have been reading zhedge for 2 years. I still am amazed that alot of people still do not know what the real hidden agenda is which is playing out quite brazenly now. Even I am a little embarrassed that I only learned the truth in the last 5 years. I would like to express my appreciation for zhedges and all the commenters too. I have learnedmuch and the links are fantastic. So thank you all.
Except he talks too much . . . the more he does, the more the questions come up.
They would do better on 'communications' if they just made their announcement and shut up.
Where is Graham Summers,
Sucking Bernank Dick and taking QE3 up the ass, along with his subscribers.
I was surprised how emotional, even manic, Graham was recently while claiming the Fed would do nothing.
Emotion is a trader's/investor's worst enemy, even worse when dealing with the cold calculated (and blatant) manipulation of late.
The illusion of prosperity has once again been lit.
And once again to prove that pigs have started flying here is an article about Ron Paul being the most corrupt member of Congress: http://www.usnews.com/news/blogs/washington-whispers/2012/09/12/ron-paul-one-of-the-most-corrupt-members-of-congress-report-finds
recycled article to try and unseat an honest man. Elizabeth Flock wrote the article and guess what?....
http://www.huffingtonpost.com/2012/04/17/washington-post-elizabeth-flock-resigns_n_1431005.html
Aptly named!
Total b.s. - -
Ron Paul isn't even taking his Congressional retirement after leaving office.
An amateurish hit piece.
You'd think they would have been satisfied with their changing party rules and losing Paul voter ballots.
Do you really think Ron Paul fills out his own expense report? Most likely a clerical mistake being completely blown out of proportion.
Shut up fucking sheep. The article is apolitical hit job originating from one flase source. Follow the linky and read the whole thing then STFU.
http://optimiskeptic.com/2012/09/12/u-s-news-world-report-crew-blow-it-b...
Further evidence that journalists are just pawns of the political agendas of our leaders
Elizabeth Flock recently published an article on her Washington Whispers blog on U.S. News & World Report titled, Ron Paul One Of The Most Corrupt Members Of Congress, Report Finds. After investigating these allegations, I have found that not only is this headline wildly inaccurate, but Elizabeth Flock and the citizens watchdog group, Citizens for Responsibility and Ethics in Washington (CREW) have missed a huge opportunity to report on actual corruption in Washington – which I myself managed to uncover in less than two hours.
This article caught my eye because former Presidential candidate Congressman Ron Paul (R-TX) has a reputation for being one of the most honest, consistently principled, and frugal members of congress. As Ms. Flock reports, Ron Paul has been accused of requesting reimbursements for travel expenses for the same flights both from the U.S. government and from Libertarian leaning non-profit groups. Even Ms. Flock notices the implied irony:
The revelation would be ironic in part because Paul made fiscal responsibility a central tenet of his 2012 presidential campaign. The congressman celebrated a major victory in July when his bill to audit the Federal Reserve for greater transparency passed the House.
Ms. Flock even states that all of these non-profit groups are, “under his control or his campaign committee,” thus implying a very nefarious level of corruption indeed.
This implication seems very fishy, however. Why would a politician worth $4.9 million nickle and dime charities (in amounts such as $230.50, $323.60, $403.70, & $646.50) over a period of 10 years while simultaneously returning $100,000-$140,000 of his office’s budget to the U.S. Treasury on a near annual basis?
This isn’t the first time Congressman Paul has been accused of improper dealings regarding his Congressional travel. At first glance, I thought this article was a reference to the previously debunked claim made back in January that Ron Paul was making lavish first class airline flights on taxpayer dollars (Jan. 17, 2012). I thought this might be related.
So, I carefully researched Flock’s two sources for her article: CREW’s Most Corrupt report and an article published in Roll Call titled, Records Show Ron Paul Trips Paid Twice (Feb. 6, 2012) by Jonathan Strong. As it turns out, this story was unrelated to the January article, however the timing seemed very strange. Further investigation was warranted.
So let us retrace the events here:
Please buy all dips and TAKE DELIVERY.
This is the moment you've been waiting for where you can buy with impunity.
http://www.tfmetalsreport.com/blog/4182/qe-infinity
I bought with impunity a month ago.
Impunity is my middle name.
Winter is coming. He is checking to see if he has enough newsletters to heat his shed this year.
Wish I was there to throw one of my shoes at him!
Hell, I'd volunteer to tote his cross if they would crucify his ass.
On vaudeville this was known as taking a Brodie...jumping off a bridge to keep an audience.
Haha, Graham Summers got open ended!
MANBERNKRUG!
Ignore that clown in front of the microphone. I am the all powerful Wizard of Oz.
<And my name is Gold and Silver.>
Bernanke the Short Killa.
New highs in AMZN and AAPL. So homebuyers don't pay their mortgages, the banks don't take the loss and everyone shops for smart phones and other e-toys online. Wow, America, City on the Hill and all that, showing the rest of the world how to live with dignity. /s
enjoying the AMZN ride, CMG has been good too - thanks Ben, but you're still a Bitch
gjp: LOL! TOO fucking funny!
BERNANKRUPTCY!
O- ppression
Is President Obama's Depression Coming Our Way?
Barack Obama: Dictator of the Left
He wants to control the economy, but leave ownership in private hands.
Spain is not Uganda, but the US is Japan.
In ya dreams.
Starts at 2:15PM EST?
His voice is waivering more than I've ever heard prior. That fucking treasonous crook is lying. This is nothing more than the largest ponzi transfer of wealth in human history!
Madoff should get his Eagle Scout badge compared to this fucking criminal!
Fuck You Bernanke, Bitchez!
This is so much fun can I get off now before I puke some more. To infinity and beyond!! Long wine and spirits.
Well it's a downward spiral from here. I hope everybody is tying up the loose ends, events will start accelerating now as we prepare for the big fiat supernova.
"...to boldly go where no fiat has gone before."
"...to boldly go where all fiat has gone before."
Food check. Water check.
You just said it all, DR. E. The fed just showed it's hand. The PTB know it's all over but the final loot, now.
And so it begins.
2% inflation forecast? What are they counting as inflation? Can't be anything people actually use and need.
They are counting diamond rings, jenga giftsets, car fresheners in the shape of fruit, and cheez wiz. That's about as much sense as 2% makes.
Ah cheez wiz is food...well mostly so I don't think they count that.
Anyone recognize the score being played? Muffy, Biff, Tad, and I are three sheets to the wind 12 miles out and having some difficulty placing it... It isn't 'Taps' is it?
Ride of the Valkyries. (?)
Helicopter Ben strikes again! To infinity and beyond, bitchez!!
I don't know about you guys, but I'm just loving this wait music. Man this is some groovy shit.
This must be FED rape music.
I was thinking the same thing...This is kind of like the music when the credits are running at the end of a sci-fi movie.
http://www.youtube.com/watch?v=JuedGDhkQKg
Bernanke is buying shit-paper. The shit-seller is quite like a pig in shit, ATM.
ZeroHedge BiTcHeZ
Edit: Fuck you ben bernanke!
iPhone 5 didn't impress the market...send in the QE!
Can't somebody hack into a live stream and put a sign above his head that says "I'm A Shithead"
No, but we CAN paint a 'smiley face' on the front of the Eccles building!
Remember Rick Perry on Ben printing money? Don't go to Texas Ben..
http://www.youtube.com/watch?v=Zd7hbr3VP4k
I care about what Rick Perry thinks about economics about as I much as I care what Zoolander thinks. Perry is a bimbo.
Doesn't Bernake understand that his actions are exacerbating the (un)employment situation?!
DavidC
Wrong question DC, the real question is: Does he care?
Listen to his voice; I am not sympathetic, but public speaking isn't easy at the best of times, let alone when the entire planet is scrutinizing the minutae down to the last syllable. It's not quite so bad if you believe what you're saying, of course...
Of course he understands that silly
Bernanke "The Cookie Monster" dispenses sugar cookies to investors creating a sugar rush. The economy needs protein, and The Fed doesn't distrbute that.
http://confoundedinterest.wordpress.com/2012/09/13/fed-pulls-the-trigger...
Why can't Benny pull a QE to pay for mining costs for gold/silver to add to the fed's inventory, and not bonds/troubled assets? It makes 100000000x more sense at least if you're going to print money.
Listen to his voice quiver....he knows he is full of shit and he just hammered the last nail in the coffin of the U.S dollar.
at times he sounds like he may start whimpering.
lol just misread your comment as "at times he sounds like my cat whimpering" - both true!
Can Vol go to zero?
QE to Infinity
Jim Sinclair
Did I just hear that we've enjoyed price stability since the 1990's?
The Bernaks lips sound like they are "bouncing off a scrotum sac"!
Like I keep saying on this board, you know they are going to print, so you better be all in something other than cash. ANR up 48% in a week and half....LMAO
Prudent..he used the word prudent....open ended is the key words today....that means it will never stop until it does....he should end with a reading of his resume...he is going to need it...
I like in the intro that Congress makes him do it....a CYA...
Inflation, hyperinfation, war => Idiocracy.
You guys will benefit from ZIRP! Hahaha what a joke
"We're aware that we're screwing savers because the economy in general will pick up eventually." Bitch.
This jackass has seriously boxed himself in. When SHTF he will be crucified!
Drawn and Quartered!
Bernake and Judge Roberts will retire to Malta.
He has obama protecting him and his bankster buddies from mobs with torches & pitchforks
"Since everything we tried hasn't worked up to this point, the obvious solution is to do more of what hasn't worked." Asshole.
What a chin-quivering moron.
"We know low interest rates cause some hardships"
F U LIESman!
The ECONOMY CAN NEVER RECOVER as long as QE continues. Therefore, Bernanke has just promised to destroy the world. Oh how brilliant is central planning!
this is surreal.....screw it, im in
hey BEN, SUCK MY DICK
is it as big as my QE to infinity?
Will it levitate up as high as my WS asset pump?
Personally I doubt it.
Nothing compares to my huge...ummmm....Qe-to infinity; awesome testimony and I hope eloquent inspiration for the epitaph placed on my career plaque as Czar of the FED.
Will they make me a Big BEN memorial like they did for Lincoln?
Where the people come and admire me sitting above the mortals as the Man who saved the West; not just the country and federation.
The FED under me was not the Federation, it was a small step to global QE and a giant step for humanoid humanity.
Our mid 2015 projections don't include any inflation ... HAAAAAA!
The third world food prices will lead to many more facebook revolutions! Thanks Bernank.
benjamin shalom....the face and voice of a jewish counterfeiting crime syndicate.
He just made your food and gas much more expensive, and your savings worthless, bitches.
Ben to savers: "Suck my dick!"
Nope, his message is spend your savings because I am going to destroy your capital.
It's like doublmint gum two for the price of one
Progress? You butthead, have you tried to re-fi a 3.6M loan lately?
What a stupid question...it's not about providing benefits to the economy. I wish these well placed "investigative reporters" would get past that train of thought and push the questions of derivatives, shadow bank deflation, banks, and government spending. But alas that is too much to ask.
I think three average zero hedgers asking him questions would blow things wide open.
I agree..I haven't had the opportunity to associate with a knowledge base this large any place else than on the Hedge. There are a lot of smart people here.
Wow. The bastard did it. I am shocked.
Guess I will fill-up the tank while gasoline *only* costs $3.99.
So the worse the economy becomes, the more money the FED will pour over the Banks? Are you F**KING kidding me?
There is no way in hell that the FED do not understand the implications of their policy. The volatility of money is going to plummit as a consequence of this policy. Would not be supprised at all if they even increase the remuneration rate at this point
We can work with communication tools - WTF?!
DavidC
He keeps repeating his escape clause: "monetary policy is not a panacea." 'Don't blame me when things blow up. The politicians didn't do their part!'
he meant "monetary policy is not a conundrum"
He actually telegraphed that the shit will hit the fan very soon, but I did my part!!! and washed his hands as any good religious asshole would do.
You fucked it up you moron, along with the Obummer and Geithner!!!
I am now 1/2 short the market and 1/2 long PM's....
What A complete joke. Did we realy need it? Is there larger problems Tyler has missed? I thought the economy was just fine according to BAMBAM.
Is it just me or does there seem to be a lack of conviction in his responses?
"...that we're making progress towards more acceptable levels of unemployment..." Exactly what IS an acceptable level of unemployment Ben?
I tell you what mine is; when you, Geithner, and Obammy are all unemployed...
Will this short squeeze ever end?
<squished ball-sack to infinity>
So, he and Barry take their orders from the same guy(s).
Coupla cretins.
What this idiot doesn't get is that if people aren't borrowing at 3%, they're not going to borrow at 2%.
Oh he gets it; this is a program for institutions to off-load their MBS into so FHA can pretend that it's healthy.
Makes me ill to see Stolper get one for once.
When Bernanke says "maximum employment," does he mean bank-run labor camps?
yes - they are going to privatize fema camps. They are planning to produce chevy volts there that run on 5 solyndras. Mitt Romney did the business case. Approval in congress just a formality
The Ben Bernank speculation economy....hey Ben people don't have money to put into a 401k ...or to pay their mortgage in hopesthat they feel wealthier as their "house price appeciates."
i quit the system today, that's it no more work for fiat, no more debt payments, no more taxes call me John
I'm just waiting on the announcement of open ended margin hikes on "real" assets that should occur sometime over the next few days - the last of my $US will be used at that time. Before this abortion is over, Bernake or his replacement(s) will be having daily press conferences to reveal the day's infusion levels.
What a contrived mess.
bullshitstreamlive.com
Is it just me? Bernanke has spoken more about the stock market, in the last 10 minutes than the last 4 years!
Tyler, you just solidified what every sane trader already knows! Bernanke is all about " funny money" inflation!
Ben the coward.
Off to the Hamptons everyone...
Ben just said that if he can get housing prices to go up again, that i will feel mo' rich again like i did back in 2010 when i lost it...
says, all i need to do is feel richer and i 'll go out and spend money i dont have...
i believe him too....he a PHD aint he.....
I love when Bernanke says he wants people to feel wealthier by raising stock and house prices so people spend more. What an idiot.
You're not actually wealthier in a sustainable way, we just want you to feel that way so you stupidly spend money you don't have once again.
He should pass out Brad and Angelina masks so we can wear them and feel pretty, too. We won't be, but damn, we'll feel that way and who cares about reality anyway.
Yay, feel wealthier with more zeroes in the currency. Hope he mentions Gross National Hapiness too.
Hey Magpie, you were spot on with your comments Re; shorting the euro /via xau,cad,aud...ect the night before last. ( German court ruling) . I just didn't want to fight the Italian Stallion, at that point in time. You were very intuitive with that post. ;)
I hope you got some. I faded "Cable twice" last night.
Memo to Chairman Bernanke:
A market that has a painful erection for more than 12 quarters is at high risk for permanent damage.
Dr. Reality
And it should contact it's doctor immediarely
I bet the Chinese and other holders of our debt start to dump it.....I would...I would try to surrond us with purchases of commodities...mines, oil fields, ports, things.....other than our paper...on the other hand..I bet the Japanese, the EU, Britain, and the USA....all play the circle jerk of I buy yours if you buy mine...
The UK is the 4th largest holder of US Treasuries, despite being broke.
DavidC