Bernanke insanity : no inflation, QE2 will finish on time, will not raise interest rates

Bernanke is nuts. And so are his crew.

FED statement

Information received since the Federal Open Market Committee met in March indicates that the economic recovery is proceeding at a moderate pace

Economic recovery? Ha!

Inflation has picked up in recent months, but longer-term inflation expectations have remained stable and measures of underlying inflation are still subdued.

Longer term inflation expectations are stable? Are you nuts?

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.

Bunch of liars. Price stability? Commodities skyrocketing by hundreds of % is price stability? But I guess people don't need food or oil...

The Committee expects these effects to be transitory, but it will pay close attention to the evolution of inflation and inflation expectations. The Committee continues to anticipate a gradual return to higher levels of resource utilization in a context of price stability.

Yeah anticipate that the tooth fairy will give you a BJ too Bernanke... it's sure to happen!

To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. In particular, the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and will complete purchases of $600 billion of longer-term Treasury securities by the end of the current quarter. The Committee will regularly review the size and composition of its securities holdings in light of incoming information and is prepared to adjust those holdings as needed to best foster maximum employment and price stability.

Basically will end QE2 on schedule... and is opening the door for QE3.

The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.

Rate artificially low : dollar going down, carry trade continuing, commodities will continue to go up.

And they ALL voted for it!

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Richard W. Fisher; Narayana Kocherlakota; Charles I. Plosser; Sarah Bloom Raskin; Daniel K. Tarullo; and Janet L. Yellen.

All of those people are openly destroying America. And they were NOT elected.


Now with this BS going on, real investors will get the hell out of the US markets, and China will put their threats to execution. They will sell their US dollars and US treasuries. And if the rating agencies were doing their job, they would downgrade the US right now, following this insanity by Bernanke.

Well, we know what to do with our wealth to protect it, don't we? Better make sure we know what real money is. Only buy and keep things that are real.

I don't think it's so much that Bernanke is 'nuts', as what else is he going to do?

If I were in charge of the Fed, I'd say QE will end as scheduled in June, go to the President and Congress, and tell them to cut government spending to the bone. There would be a lot of short term pain, but I think that is the smarter route in the long term.

That was a steaming pile. why dont they just tell us the truth

I liked how he kept saying alot of things were "transitory".

This is transitory, that is transitory, and bears no long term issue.. blah blah blah.

Basically, they don't know which way things will go. (I watched the press conference. )

waste of 30 minutes.

What I find interesting is how unsteady Bernake's voice is. It's like he's on the very of running from the room in panic.

Gold jumped 22 dollars.wow

Since bernanke statement the price of silver went from over a dollar down to nearly two dollars up. Connection?

The dollar is just getting HAMMERED...

Down to 73.29!

That is insane.

If it breaks below it's support level, there's no bottom... I think the support level is around mid 72.

As I was watching 'B.S.' Bernanke, all I could think of was the parrot sketch from Monty Python.

Me: "This parrot (economy) is dead."

Ben: "No it's not, it's just resting."

Me: "I know a dead parrot (economy) when I see one and this one is definitely dead."

Ben: "No, it's just resting, it will wake up soon."

And on, and on, and.......

Except, it's not funny anymore.

what in the world is "maximum employment"????

since, I am finding myself interpreting it as meaning that everyone who wants a job, has a job...no unemployment........ and, he can't mean that...they don't want that....it would cause wages to increase!!!
or....is it just a case of picking out words that sound good, regardless of what is true or not...since well, alot of the rest I think falls into that category.....sounds real good, ya no inflation!!! ummm.....we need to have a law that insists that the people we have running the economy do their own grocery shopping, would prevent them from sounding like idiots to those of us who can't afford to hire someone to do it for us....

well, guess I'll go back to watching silver climb it's ladder.

So the FED decides to have a press conference and then basically comes on and says the same thing they said last time and many times before that.

What confuses me about this is the very fact that Bernanke is having a press conference. Is it just me, or is he trying to distance the FED from the government. Does the FED expect the two will be in conflict in the future?

Hm...why do i get the feeling the Dollar is gonna crash tomorrow...or Friday...when everyone is watching a Royal Wedding...

Timing People,timing...

Originally posted by Shenon
Hm...why do i get the feeling the Dollar is gonna crash tomorrow...or Friday...when everyone is watching a Royal Wedding...

Timing People,timing...

Could very well happen. Everyone will be watching either the space shuttle launch or the royal wedding or too busy drinking friday night...

The only way to ``save`` the US dollar is for the euro to crash... which might very well happen because of the PIIGS.