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Tuesday, September 18, 2012


The unleashing of QE3–unlimited money-printing in support of the financial Status Quo– is proof the Fed has failed, failed, failed. If anything the Fed has done in the past four years had actually had a positive consequence in the real economy, Bernanke would have identifed that policy and expanded it in a measured response.

Instead he went all-in, emptying the Fed’s toolbox in one big dump: unlimited money-printing, unlimited propping of the mortgage market, unlimited support of low Treasury rates and three more years of zero-interest rate policy (ZIRP). Here is the translation of the Fed Chairman’s public comments: whatever. Did you see any of his testimony? It was painfully obvious that either 1) he was sky-high on Ibogaine or 2) he was just going through the motions, duly enunciating PR “cover” that he finds tiresome to repeat and impossible to say with any sincerity or conviction.

His body language and delivery said: “You think I believe this canned shuck and jive? Get real, chumps.”



Anonymous said...

So now the banks buy money at 0% and lend to anyone because they have no risk.This has collapse written all over it.

Anonymous said...

12:17....I believe you are more correct than most people know. This is in fact the "we're all in. We have nothing else to use" tool. The last one in the tool box. This will fail. It will fail with a run in hyper-inflation and a collapse of the market. Sure the market will rise sharply initially. That is the design. But when it comes down it will all come down...hard. The market will collapse when those in the know sell everything and take all the wealth with them as they go. Then everyone else will take whatever crumbs are left and the economy will be over. Those in power will have everything. There will be no middle class. The rest of us will be so poor we will literally have to scavenge for food. You think the streets are violent now? We haven't seen anything yet. There is no limit to what a parent will do to feed their family.

Anonymous said...

Waiting for the train...

Anonymous said...

Come on