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Tuesday, August 23, 2011

Bernanke May Have To Go For 'Shock And Awe'

"If the Fed really is going to go down the route of another round of unconventional policy making, I think they've got to go in for, what I called, shock and awe," Russell Jones, Global Head of Fixed Income Strategy at Westpac Institutional Bank told CNBC on Monday....The recent stock market rout has already wiped out more than 10 percent from major indices. ... "If we really are in trouble at the end of the week, I think they'll have to respond," Jones said. ... Frankly, Bernanke and the Fed are desperately trying to keep a big secret from the American people. The US has been in a depression since 2009 with the collapse in real estate and the dollar. Only their manipulation of the stock market has kept the American people from seeing, in their portfolio and retirement plan statements, how bad the situation really is. – CNBC

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