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Bernanke Signals Fed Is Ready to Prop Up Economy (QE2 On the Way - Rev Up the Printing Presses)
Wall Street Journal ^ | 8/27/2010 | Sewell Chan

Posted on 08/27/2010 11:36:27 AM PDT by mojito

JACKSON HOLE, Wyo. — The Federal Reserve chairman, Ben S. Bernanke, said Friday that the central bank was determined to prevent the economy from slipping into a cycle of falling prices, even as he emphasized that he believed growth would continue in the second half of the year, “albeit at a relatively modest pace.”

To help sustain the economy, Mr. Bernanke gave his strongest indication yet that the Fed was ready to resume its large purchases of longer-term debt if the economy worsened, a move that would add to the Fed’s already substantial holdings.

“We have come a long way, but there is still some way to travel,” Mr. Bernanke said.

“I believe that additional purchases of longer-term securities, should the F.O.M.C. choose to take them, would be effective in further easing financial conditions,” Mr. Bernanke told a Fed policy symposium here. He was referring to the Federal Open Market Committee, the panel that sets interest rates, which Mr. Bernanke leads; some members have expressed unease over the prospect of the Fed pursuing any further monetary accommodation.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Front Page News; Politics/Elections
KEYWORDS: benbernanke; federalreserver; quantitativeeasing
If this happens, the dollar will drop like a stone. And it sounds like its about to happen.
1 posted on 08/27/2010 11:36:31 AM PDT by mojito
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To: mojito
Helicopter Ben is on my list of traitors.

Economic sabotage is going to be a capital offense.

Blindfold, Ben?


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

2 posted on 08/27/2010 11:38:37 AM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: mojito

Apparently, this is what the market was hoping.


3 posted on 08/27/2010 11:41:43 AM PDT by Perdogg (Nancy Pelosi did more damage to America on 03/21 than Al Qaeda did on 09/11)
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To: mojito; freekitty; 70th Division; Nachum; Free ThinkerNY; gonzo; TXRed; Piquaboy; flat; unkus; ...

All these “enemies within” must be fired before they destroy our country and steal our freedom and end our future.

American traitors abound! What a national disgrace. Is it November 2nd yet?


4 posted on 08/27/2010 11:41:57 AM PDT by ExTexasRedhead (Take back our country on November 2, 2010.)
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To: Perdogg

Not really hope, but if you are holding US dollars, soon to turn into crap, what would you do with them? Gold?, US Stocks,
US Land? Only so many ways to go. At some point dollars will be worth more as toilet paper than any thing you could trade them for.


5 posted on 08/27/2010 11:58:17 AM PDT by updatedscreenname
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To: mojito

Ben and his banking buddies want deflation. Don’t be fooled by his rhetoric.


6 posted on 08/27/2010 12:04:14 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
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To: updatedscreenname

Silver has been a rocket lately. People want commodities Oil, Silver and Gold for a good reason.


7 posted on 08/27/2010 12:05:04 PM PDT by Orange1998
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To: ExTexasRedhead

Is it November 2nd yet?

Can’t wait Grrrrrrrrrrr!


8 posted on 08/27/2010 12:10:00 PM PDT by Bitsy
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To: mojito

The yield on the ten-year note is up sharply today.


9 posted on 08/27/2010 12:11:18 PM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: mojito

What are they buying? They are already committed to backing mortgage backed securities. Wiil they buy credit card derivatives? Auto derivatives?

The “deflation” fear is pseudo intellectual tinsel.


10 posted on 08/27/2010 12:12:39 PM PDT by Shermy (Q: Who is John Galt?! A: Alan Greenspan's father.)
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To: Orange1998
Silver has been a rocket lately.

What's it up to? I remember crying the blues when I was paying 9 dollars an ounce for it.

11 posted on 08/27/2010 12:12:50 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: mojito

Every Republican should include in their platform the removal of this Chairman at the earliest legal opportunity.


12 posted on 08/27/2010 12:20:57 PM PDT by Mariner (USS Tarawa, VQ3, USS Benjamin Stoddert, NAVCAMS WestPac, 7th Fleet, Navcommsta Puget Sound)
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To: Lurker

Silver futures shine as gold loses steam
Silver posts best week since early April

http://www.marketwatch.com/story/gold-inches-up-before-another-read-on-economy-2010-08-27?siteid=yhoof


13 posted on 08/27/2010 12:28:09 PM PDT by Orange1998
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To: mojito
A Benny for the Old Guys?


Not with a bang but a whimper.
 
The.... Horror...

14 posted on 08/27/2010 12:38:10 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: mojito

They’re going to pour money into the economy, thus diluting its purchasing power and causing INFLATION. The rising prices will cause larger numbers all around, which they will claim is renewed prosperity.
Inflation is easily confused with economic growth.


15 posted on 08/27/2010 12:41:28 PM PDT by Leftism is Mentally Deranged (Annoying liberals is my goal. I will not be silenced.)
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To: mojito
“We have come a long way, but there is still some way to travel,” Mr. Bernanke said

Thats the most honest statement I have heard from him

16 posted on 08/27/2010 12:41:36 PM PDT by winodog
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To: updatedscreenname

I thought if things fell apart there would be only so many physical dollars and cash would be king untill they figured something else out.

What the heck would we use for money?


17 posted on 08/27/2010 12:44:57 PM PDT by winodog
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To: The Comedian

One day firing squads will be busy... if we survive this crap.

LLS


18 posted on 08/27/2010 12:51:12 PM PDT by LibLieSlayer (WOLVERINES!)
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To: Leftism is Mentally Deranged

“In the college of Kings, Inflation 101 is a required course”

Bert, August 2010


19 posted on 08/27/2010 12:52:06 PM PDT by bert (K.E. N.P. N.C. +12 ..... Greetings Jacques. The revolution is coming)
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To: Leftism is Mentally Deranged

I want to get in line fore one of those checks.
I bet you have to be unemployed or employed by the state


20 posted on 08/27/2010 12:55:35 PM PDT by winodog
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To: mojito
Eliminate the USA by collapsing the economy. Printing more money is exactly the thing that will expedite the collapse.
This is no mistake they are making, these people and the three administrations before them are all traitors and should be treated as such.
21 posted on 08/27/2010 12:56:11 PM PDT by drypowder
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To: Shermy
The “deflation” fear is pseudo intellectual tinsel.

I use the bucket-with-a-hole-in-it model. No matter how much water you put into the bucket, it won't fill. The Fed may moderate the pace of deflation but it can't really stop it anymore.

22 posted on 08/27/2010 12:56:30 PM PDT by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: LibLieSlayer
One day firing squads will be busy... if we survive this crap.

I'm going to survive strictly out of spite.

When these evil woodchucks pop their heads up after the collapse, I want to personally educate them on the advantages of staying permanently out of sight.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

23 posted on 08/27/2010 1:08:10 PM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: The Comedian

I am prepared also... we will all work together to restore what once was... before communism and sharia infected our Republic. I will survive along with you so that we may enjoy that spite!.

LLS


24 posted on 08/27/2010 1:27:32 PM PDT by LibLieSlayer (WOLVERINES!)
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To: mojito


25 posted on 08/27/2010 1:32:43 PM PDT by paulycy (Demand Constitutionality Now: Islamo-Marxism is Evil.)
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To: mojito
All of this is posturing on The Fed and Bernanke’s part. The Fed in reality is out of bullets. There is really nothing from any kind of practical or otherwise standpoint to do.
They blew Trillions of $ and have basically nothing to show for it.
Yes the market bought all of this BS$ today but that will prove to be illusory, I believe the market is on a downward track and will resume that course in due time.
26 posted on 08/27/2010 1:36:25 PM PDT by Captain Peter Blood
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To: LibLieSlayer
I will survive along with you so that we may enjoy that spite!.

Justice is coming...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

27 posted on 08/27/2010 1:41:24 PM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: The Comedian

Yeah buddy!

LLS


28 posted on 08/27/2010 1:45:37 PM PDT by LibLieSlayer (WOLVERINES!)
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To: Perdogg

More free money. Yip Yip Yahoo! Bernake is Obamas enabler in chief.


29 posted on 08/27/2010 1:46:41 PM PDT by screaminsunshine (m)
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To: The Comedian

DITTO!


30 posted on 08/27/2010 2:02:21 PM PDT by mojitojoe ("The Arabic call to prayer is one of the prettiest sounds on Earth at sunset." punk in chief)
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To: The Comedian

Heh. Bump that +1.


31 posted on 08/27/2010 3:04:21 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: garbanzo

So then, are you looking at us repeating Japan’s lost 2 decades, or a deflation with more economic contraction than Japan?


32 posted on 08/27/2010 3:46:30 PM PDT by Freedom_Is_Not_Free ("I am pessimistic and fighting become despairing," Thomas Sowell to Walter Williams, 8-24-10.)
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To: mojito

Just send us each $6000 and see if THAT will boost the economy.

Kidding.


33 posted on 08/27/2010 4:02:05 PM PDT by madison10
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To: The Comedian

Bump for great justice.


34 posted on 08/27/2010 8:05:59 PM PDT by GVnana (I'm a Mama Grizzly)
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To: Freedom_Is_Not_Free

I won’t make a prediction on how long it will last, but printing more money won’t change US demographic trends or the jobless rate by much.


35 posted on 08/28/2010 5:26:46 AM PDT by garbanzo (Government is not the solution to our problems. Government is the problem.)
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