Ben Bernanke

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Ben Bernanke

Innlegg Panther 10 Feb 2011, 19:45

http://www.capitalismmagazine.com/markets/6264-%EF%BB%BFthe-two-faces-of-ben-bernanke.html

The Two Faces of Ben Bernanke
10 February 2011 Peter Schiff

It is this type of attitude from our top monetary policy maker - to either deny inflation or to lay blame elsewhere - that will accelerate the day of reckoning for the dollar.

Based on his recent public comments, Fed Chairman Bernanke seems determined to give the U.S. dollar the reputation of Egypt's Hosni Mubarak: an unwanted relic of the past that everyone agrees must go, but stubbornly clings to a privileged position. The dollar is currently the world's ruling currency, but, as with Mubarak, I believe that growing public discontent will spur regime change quicker than most pundits expect.

Clearly, the most significant problem facing central bankers around the world is the recent eruption of inflation, which is sparking unrest in Asia and the Middle East. With respect to this issue, Bernanke is alternating his responses through two different personas.

Sometimes he chooses to act like Baghdad Bob, the Iraqi Information Minister who, in the opening days of the 2003 invasion of Iraq, continued to deny the presence of American troops even as U.S. tanks rumbled behind him. The parallel to Bernanke's testimony to Congress today is striking.

Speaking to the House Budget Committee, Baghdad Ben not only claimed that there is no evidence of overall inflation in the U.S., but that even food and energy prices are rising less than 1% annually. This is simply not true. He then claimed that the Fed's massive QE purchases of U.S. Treasuries do not distort the yield curve, despite the fact that he has stated repeatedly that the program was specifically designed to lower long-term rates.
Ken-G. Johansen.
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Re: Ben Bernanke

Innlegg Panther 14 Mai 2011, 13:49

http://www.capitalismmagazine.com/economics/money/6416-ben-bernanke-is-the-chief-architect-of-dollar-destruction.html

Ben Bernanke is the Chief Architect of Dollar Destruction
14 May 2011 John Browne

Indeed, Bernanke is the Chief Architect of Dollar Destruction. It seems that everyone in America understands this except the Chairman. Even the European Central Bank has expressed its deep concern at America's weak dollar policy. In the private sector, the University of Texas has invested $1 billion in physical gold. This represents an unprecedented vote of no confidence in this Administration's stewardship of fiscal and monetary policy.
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It Ain't Money If I Can't Print It!

Innlegg Panther 15 Jul 2011, 13:06

http://www.capitalismmagazine.com/economics/money/6488-it-ain-t-money-if-i-can-t-print-it.html

14 July 2011 Peter Schiff

By claiming that gold is not money,Fed Chairman Ben Bernanke demonstrates his ignorance of monetary history.

I have been forecasting with near certainty that QE2 would not be the end of the Fed's money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke's semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new round of inflation would be launched, and the latter re-emphasized - in case anyone still doubted - that Mr. Bernanke has no regard for the principles of a sound currency.
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Re: Ben Bernanke

Innlegg Vegard Martinsen 15 Jul 2011, 16:05

http://www.cnbc.com/id/43739458

"Bernanke: Fed May Launch New Round of Stimulus," Jeff Cox, CNBC, July 13

Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing....
"Once the temporary shocks that have been holding down economic activity pass, we expect to again see the effects of policy accommodation reflected in stronger economic activity and job creation," he said

"However, given the range of uncertainties about the strength of the recovery and prospects for inflation over the medium term, the Federal Reserve remains prepared to respond should economic developments indicate that an adjustment in the stance of monetary policy would be appropriate."

Markets reacted immediately to the remarks, sending stocks up sharply in a matter of minutes. Gold prices continued to surge past record levels, while Treasury yields moved higher as well....

Bernanke maintained that temporary factors, such as high food and gas prices, have slowed the economy. He said those factors should ease in the second half of the year and growth should pick up. But if that forecast proves wrong, he said the Fed is prepared to do more.


Så grunnen til at Bernankes pengeopptrykking ikke har gitt vekst er at prisene på "food and gas" er gått opp ????????????

Og The Fed er villig til å "do more" - dvs. til å trykke enda mer penger ???????????
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Re: Ben Bernanke

Innlegg QIQrrr 15 Jul 2011, 16:53

Vegard Martinsen skrev:Så grunnen til at Bernankes pengeopptrykking ikke har gitt vekst er at prisene på "food and gas" er gått opp ????????????

Og The Fed er villig til å "do more" - dvs. til å trykke enda mer penger ???????????

Det høres veldig riktig ut. Og når vi i tillegg vet at global oppvarming er årsaken til at matvareprisene stiger, ja da ... ja da vet jeg egentlig ikke, for Kunnskapsministeren hevder at problemene skyldes de høye lederlønningene. Det kan uansett ikke skade å drysse flere penger over situasjonen. Hva dette betyr er det umulig å si noe sikkert om:

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"Atlas was permitted the opinion that he was at liberty, if he wished, to drop the Earth and creep away; but this opinion was all that he was permitted" - Franz Kafka
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Re: Ben Bernanke

Innlegg QIQrrr 15 Sep 2012, 02:25

Peter Schiff om Bernankes seneste sprell — via ARIs Laissez Faire Blog:

Børge Svanstrøm Amundsen

"Atlas was permitted the opinion that he was at liberty, if he wished, to drop the Earth and creep away; but this opinion was all that he was permitted" - Franz Kafka
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Re: Ben Bernanke

Innlegg nico 17 Feb 2013, 17:05

http://cnsnews.com/news/article/fed-has ... has-issued
Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued
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(CNSNews.com) - So far this calendar year, the Federal Reserve has bought up more U.S. government debt than the U.S. Treasury has issued.

On Dec. 31, the total debt of the U.S. government was $16.4327 trillion and then-Treasury Secretary Tim Geithner announced that the government had hit what was then the legal debt limit. Last week, however, Congress enacted a law to suspend the federal government debt limit until May 18, 2013, and allow the administration to resume increasing the debt.

By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion—an increase of $47.2 billon for the calendar year.

At the close of business on Jan. 2, the Federal Reserve had owned $1.661 trillion in U.S. Treasury securities. By the close of business on Feb. 6, it owned $1.7172 trillion—an increase of $51.1 billion for the calendar year.

Thus, the Federal Reserve’s purchases of U.S. government debt in this calendar year have exceeded the Treasury’s net debt issues by about $3.9 billion.

Also last week, the Federal Reserve announced that it “will continue purchasing additional … longer-term Treasury securities at a pace of $45 billion per month.”

If the Fed continues to purchase $45 billion in additional federal debt each month in 2013 it will buy up another $540 billion in federal debt this year alone.

The CBO currently estimates that the federal deficit for fiscal 2013 will be $845 billion. If the Fed were to buy debt at a pace of $540 billion a year, and the Treasury were to issue it at $845 billion per year, the Fed would be buying the equivalent of about 64 percent of all debt the government issued.

As recently as calendar year 2007, the total debt of the United States increased by only about $549 billion, or roughly equal to the amount of debt the Fed plans to buy this year.
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Re: Ben Bernanke

Innlegg -Henrik- 17 Feb 2013, 18:33

Digging the hole, haha.
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