QE3: Ben Bernanke tells Congress he’s going to devalue the dollar some more by printing a lot more money
Get set for Carter-style inflation
Hey, isn’t Bernanke flipping us the bird in this photo?
CNBC: 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.
Bernanke said in prepared remarks that the economy is growing more slowly than expected, and should that continue the central bank stands at the ready with more accommodative measures.
“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.”
Gold surges to record highs on news Bernanke plans to print more money
REUTERS: Gold futures rose to a record settlement above $1,585 on Wednesday, as the possibility of
more Federal Reserve stimulus coupled with Europe’s deepening debt crisis fueled bullion’s longest winning streak in five years.
Spot gold [XAU= 1579.11 13.86 (+0.89%) ] last rose 1.2 percent to $1,584.39 an ounce.
U.S. gold futures [GCCV1 1585.40 23.10 (+1.48%) ] for August delivery rose $23.30 to settle at $1,585.50 an ounce .
Bullion prices added to early gains after Federal Reserve Chairman Ben Bernanke said the central bank is ready to ease monetary policy further if the economy weakens and inflation moves lower. Silver rallied nearly 6 percent, moving in tandem with commodities, U.S. stock markets and risk assets.
Is Bernanke a lunatic, or just completely incompetent?
THE ECONOMIC COLLAPSE: Did you see Ben Bernanke’s testimony before the House Budget
Committee on Wednesday?
It was quite a show. Bernanke seems to believe that if he just keeps on repeating the same mantras over and over that somehow they will become true.
Bernanke insists that the economy is getting much better, that quantitative easing will lower long-term interest rates, that all of this money printing by the Federal Reserve is not causing inflation and that the Fed knows exactly what needs to be done to dramatically reduce unemployment inside the United States.
So is anyone out there still actually buying what Bernanke is selling? Sure, a handful of people in the mainstream media still have complete faith in Bernanke. But for the rest of us, it is becoming increasingly clear that there is something really “off” about Bernanke. So just what is going on with him? Is he lying to all of us on purpose? Could he be insane? Is he just completely and totally incompetent?
Video That Explains What Ben Bernanke and President Obama Are Doing To You in Layman’s Terms
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