Bernanke Tells Nation This Sunday: More QE Coming

For those wondering why the market leaked higher in the last hour, it is because someone got an advance copy of the transcript (or advance notice) that in this Sunday's latest attempt at faux transparency on 60 Minutes, the bearded mutant-cum-supreme genocidal overlord says that more QE is coming. From Reuters: "The euro rose to a session peak against the dollar in late afternoon New York trade on Friday after a report on the CBS website that Federal Reserve Chairman Ben Bernanke did not rule out buying more than $600 billion of bonds in further quantitative easing." It also explains why the euro is back to 1.34, and is right in line with our expectations that the EURUSD is only weak so long as the market realizes that much, much more QE is coming. How much? See the chart below for our ongoing expectation of what the Fed's balance sheet will look like soon. And yes, the $7 dollar jump in gold late in the day may be multiplied 10-20x on Monday after the world realizes that the US economy is as fucked as always.

Perhaps it is time for Goldman to revise its 48-hour old "alles gut" call?

This is what we projected a few months back. Looks like we may accidentally be spot on as usual.

Of course, if that happens, look for every other bank to go apeshit in tandem (and that certainly includes the BoJ and the ECB which will join the fray):

And lastly, here are the Senators who voted Yay or Nay on Bernanke's most recent renomination. Who would have thought only 30 Senators gave a rat's ass about what happens to this country's middle class.

State↓ Senator↓ Party
Jan. 28
Ben Bernanke official portrait.jpg
Ben S.

Fed Chair
Hawaii Akaka, DanielDaniel Akaka D Yea
Tennessee Alexander, LamarLamar Alexander R Yea
Wyoming Barrasso, JohnJohn Barrasso R Yea
Montana Baucus, MaxMax Baucus D Yea
Indiana Bayh, EvanEvan Bayh D Yea
Alaska Begich, MarkMark Begich D Nay
Colorado Bennet, MichaelMichael Bennet D Yea
Utah Bennett, RobertRobert Bennett R Yea
New Mexico Bingaman, JeffJeff Bingaman D Yea
Missouri Bond, KitKit Bond R Yea
California Boxer, BarbaraBarbara Boxer D Nay
Ohio Brown, SherrodSherrod Brown D Yea
Kansas Brownback, SamSam Brownback R Nay
Kentucky Bunning, JimJim Bunning R Nay
North Carolina Burr, RichardRichard Burr R Yea
Illinois Burris, RolandRoland Burris D Yea
West Virginia Byrd, RobertRobert Byrd D Yea
Washington Cantwell, MariaMaria Cantwell D Nay
Maryland Cardin, BenBen Cardin D Yea
Delaware Carper, TomTom Carper D Yea
Pennsylvania Casey, BobBob Casey D Yea
Georgia Chambliss, SaxbySaxby Chambliss R Yea
Oklahoma Coburn, TomTom Coburn R Yea
Mississippi Cochran, ThadThad Cochran R Yea
Maine Collins, SusanSusan Collins R Yea
North Dakota Conrad, KentKent Conrad D Yea
Tennessee Corker, BobBob Corker R Yea
Texas Cornyn, JohnJohn Cornyn R Nay
Idaho Crapo, MikeMike Crapo R Nay
South Carolina DeMint, JimJim DeMint R Nay
Connecticut Dodd, ChrisChris Dodd D Yea
North Dakota Dorgan, ByronByron Dorgan D Nay
Illinois Durbin, DickDick Durbin D Yea
Nevada Ensign, JohnJohn Ensign R Nay
Wyoming Enzi, MikeMike Enzi R Yea
Wisconsin Feingold, RussRuss Feingold D Nay
California Feinstein, DianneDianne Feinstein D Yea
Minnesota Franken, AlAl Franken D Nay
New York Gillibrand, KristenKristen Gillibrand D Yea
South Carolina Graham, LindseyLindsey Graham R Yea
Iowa Grassley, ChuckChuck Grassley R Nay
New Hampshire Gregg, JuddJudd Gregg R Yea
North Carolina Hagan, KayKay Hagan D Yea
Iowa Harkin, TomTom Harkin D Nay
Utah Hatch, OrrinOrrin Hatch R Yea
Texas Hutchison, Kay BaileyKay Bailey Hutchison R Nay
Oklahoma Inhofe, JimJim Inhofe R Nay
Hawaii Inouye, DanielDaniel Inouye D Yea
Georgia Isakson, JohnnyJohnny Isakson R Yea
Nebraska Johanns, MikeMike Johanns R Yea
South Dakota Johnson, TimTim Johnson D Yea
Delaware Kaufman, TedTed Kaufman D Nay
Massachusetts Kerry, JohnJohn Kerry D Yea
Massachusetts Kirk, PaulPaul Kirk D Yea
Minnesota Klobuchar, AmyAmy Klobuchar D Yea
Wisconsin Kohl, HerbHerb Kohl D Yea
Arizona Kyl, JonJon Kyl R Yea
Louisiana Landrieu, MaryMary Landrieu D Yea
New Jersey Lautenberg, FrankFrank Lautenberg D Yea
Vermont Leahy, PatrickPatrick Leahy D Yea
Florida LeMieux, GeorgeGeorge LeMieux R Nay
Michigan Levin, CarlCarl Levin D Yea
Connecticut Lieberman, JoeJoe Lieberman Ind. D Yea
Arkansas Lincoln, BlancheBlanche Lincoln D Yea
Indiana Lugar, RichardRichard Lugar R Yea
Arizona McCain, JohnJohn McCain R Nay
Missouri McCaskill, ClaireClaire McCaskill D Yea
Kentucky McConnell, MitchMitch McConnell R Yea
New Jersey Menendez, BobBob Menendez D Yea
Oregon Merkley, JeffJeff Merkley D Nay
Maryland Mikulski, BarbaraBarbara Mikulski D Yea
Alaska Murkowski, LisaLisa Murkowski R Yea
Washington Murray, PattyPatty Murray D Yea
Florida Nelson, BillBill Nelson D Yea
Nebraska Nelson, BenBen Nelson D Yea
Arkansas Pryor, MarkMark Pryor D Yea
Rhode Island Reed, JackJack Reed D Yea
Nevada Reid, HarryHarry Reid D Yea
Idaho Risch, JimJim Risch R Nay
Kansas Roberts, PatPat Roberts R Nay
West Virginia Rockefeller, JayJay Rockefeller D Yea
Vermont Sanders, BernieBernie Sanders Ind. Nay
New York Schumer, ChuckChuck Schumer D Yea
Alabama Sessions, JeffJeff Sessions R Nay
New Hampshire Shaheen, JeanneJeanne Shaheen D Yea
Alabama Shelby, RichardRichard Shelby R Nay
Maine Snowe, OlympiaOlympia Snowe R Yea
Pennsylvania Specter, ArlenArlen Specter D Nay
Michigan Stabenow, DebbieDebbie Stabenow D Yea
Montana Tester, JonJon Tester D Yea
South Dakota Thune, JohnJohn Thune R Nay
Colorado Udall, MarkMark Udall D Yea
New Mexico Udall, TomTom Udall D Yea
Louisiana Vitter, DavidDavid Vitter R Nay
Ohio Voinovich, GeorgeGeorge Voinovich R Yea
Virginia Warner, MarkMark Warner D Yea
Virginia Webb, JimJim Webb D Yea
Rhode Island Whitehouse, SheldonSheldon Whitehouse D Nay
Mississippi Wicker, RogerRoger Wicker R Nay
Oregon Wyden, RonRon Wyden D Yea
  vote by party D