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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Cohibia on November 08, 2010, 11:31:30 AM

Title: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Cohibia on November 08, 2010, 11:31:30 AM
 
 
Palin Lashes Out At Bernanke, Urging Him To 'Cease And Desist' Purchase Of Treasuries


 
NEW YORK 11- 8-10 -- In an unusual detour, Sarah Palin waded into monetary policy Monday, lashing out at Federal Reserve Chairman Ben Bernanke and urging him to "cease and desist" his attempt to jumpstart the economic recovery by committing to buy up to $900 billion in U.S. government debt.

In prepared remarks to be delivered to a trade association in Phoenix, the former Alaska governor and vice presidential candidate said she is "deeply concerned" with the Fed's plan, announced last week, arguing that the nation's central bank would be "printing [money] out of thin air" and that it is "far from certain" to "even work." The argument was unusual in that monetary policy is supposed to be immune to political pressure.



Palin-Bachmann 2012









Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 11:33:15 AM
She is dead right on this blacken. 

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 240 is Back on November 08, 2010, 11:41:21 AM
to be clear - TARP was okay but this isn't?  Right guys?
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 11:44:46 AM
to be clear - TARP was okay but this isn't?  Right guys?


 ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 08, 2010, 12:00:24 PM
doesn't she have any coloring books to color :D :D :D :D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 12:01:58 PM
doesn't she have any coloring books to color :D :D :D :D

This subject is far beyond your comprehension. 

QE2 is going to be a disaster. 

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: BM OUT on November 08, 2010, 12:02:51 PM
to be clear - TARP was okay but this isn't?  Right guys?

This isnt close to TARP.This is moniterising the debt.Look it up and see anytime this has happened in the past,what the outcome was.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 08, 2010, 12:06:24 PM
This subject is far beyond your comprehension. 

QE2 is going to be a disaster. 



ooooookkkkk mr. 200 million a day :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 12:08:00 PM
ooooookkkkk mr. 200 million a day :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D

Do yourself a HHHHUUUGGGEEEEEEE  favor and go read these two books. 

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 08, 2010, 12:12:40 PM
now lets get this straight, do you think she even thought about the monetary policy Monday or is she just repeating what someone told her to say
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 12:14:46 PM
now lets get this straight, do you think she even thought about the monetary policy Monday or is she just repeating what someone told her to say

I could care less less.  Helicopter Ben is killing us. 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 240 is Back on November 08, 2010, 12:17:01 PM
now lets get this straight, do you think she even thought about the monetary policy Monday or is she just repeating what someone told her to say

these were carefully writeen and read statements.

i'm sure when she's riffing off the cuff in the 2011 gop primary debates, she'll give us more depth and demonstrate a greater understanding
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Kazan on November 08, 2010, 12:17:56 PM
now lets get this straight, do you think she even thought about the monetary policy Monday or is she just repeating what someone told her to say

Who are you and what did you do with Blacken700?
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 225for70 on November 08, 2010, 12:21:55 PM
This isnt close to TARP.This is moniterising the debt.Look it up and see anytime this has happened in the past,what the outcome was.

check your spellinG.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 08, 2010, 12:28:39 PM
Who are you and what did you do with Blacken700?


He's watching Glen Beck, so he can lower his IQ 30 points ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 08, 2010, 12:33:13 PM

He's watching Glen Beck, so he can lower his IQ 30 points ;D

Stop posting and start reading. 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 08, 2010, 12:37:31 PM


WHAT, SO I BE AS WELL INFORMED AS YOURSELF :D :D :D :D :D :D :D :D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Kazan on November 08, 2010, 12:46:30 PM
There we go, for a second there I thought you had an original thought.

I had thoughts of old school and frank the tank

Dean Pritchard: Ladies and Gentleman, please welcome, the co-host of CNN's Crossfire, famed political consultant, the raging Cajun, Mr. James Carville
James Carville: Thank you, Thank you Dean Pritchard. It's an honor and a pleasure to be here sir.
Dean Pritchard: Topic number one. What is your position on the role of government in supporting innovation in the field of biotechnology?
James Carville: Well Dean, I'm? I'm glad that you asked that question...
Blacken700: Uhhh... Actually, I'd like to jump in and take that one Jimmy, If you don't mind.
James Carville: Have at it, Hoss.
Blacken700: [Frank takes a drink of water, makes a funny face and grunts] Recent research has shown that empirical evidence for globalization of corporate innovation is very limited and as a corollary the market for technologies is shrinking. As a world leader, it's important for America to provide systematic research grants for our scientists. I believe strongly there will always be a need for us to have a well articulated innovation policy with emphasis on human resource development. Thank you.
Blacken700: [Frank grunts, makes a face and goes limp]
[audience applauds]
Blacken700: What happened? I blacked out
Dean Pritchard: That was interesting. ha ha. Thank you very much. And, uh, your rebuttal? Mr. Carville.
James Carville: Oh... It... We... have no response. That was perfect.
Blacken700: That's the way you do it! That's the way you debate!
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: BM OUT on November 08, 2010, 12:57:34 PM
these were carefully writeen and read statements.

i'm sure when she's riffing off the cuff in the 2011 gop primary debates, she'll give us more depth and demonstrate a greater understanding

Thank God we have brilliant minds like Pelosi and Obama to look through her statements...as long as Soros is on the other end of the teleprompter.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 09, 2010, 04:40:19 AM
Palin is living proof that they have made humans with fully functioning mouse brains :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D
 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 09, 2010, 04:43:20 AM
Palin is living proof that they have made humans with fully functioning mouse brains :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D :D
 


She owned the WSJ reporter you fucking douche. 

Please - just off yourself.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Straw Man on November 09, 2010, 08:46:22 AM
This isnt close to TARP.This is moniterising the debt.Look it up and see anytime this has happened in the past,what the outcome was.

LOL

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 09, 2010, 09:09:35 AM
Obama & Fed impose 20% tax on all Americans
http://toddkinsey.com/Obama-Fed-impose-20percent-tax.html ^




President Obama defended the Fed’s decision to implement a second Quantitative Easing (QE2) amidst disagreement by fellow G20 countries China and Russia. Both countries stated that they believe the G20 should have been consulted before the United States followed through with plans to print more money and begin purchasing its own debt.

A little over a year ago Fed Chairman Ben Bernanke swore under oath that he would not monetize America’s debt. For those that don’t quite grasp the concept, we are essentially borrowing the money from ourselves by issuing bonds (IOU’s) and then printing money to purchase the bonds from ourselves. By printing billions of additional dollars the Fed is purposefully causing inflation, which, by Chairman Bernanke’s own admission, is a tax increase. That’s a neat trick, maybe I’ll pay my mortgage with Monopoly money next month. I could use a Quantitative Easing just in time for Christmas.

Many top economists believe this second massive printing of dollars by the Federal Reserve will cause a dramatic decrease in the value of the dollar on the world market. Bill Gross who manages the world’s largest mutual fund asserted that the Fed’s move will ‘devalue the dollar by as much as 20%.”


(Excerpt) Read more at toddkinsey.com ...
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 09, 2010, 09:13:39 AM
Chinese Credit Rater Downgrades U.S.
Wall Street Journal ^ | Tuesday November 9, 2010 | Matt Phillips


________________________ ________________________ ________________________ _____


Dagong Global Credit Rating Co., the Chinese rating company that was recently rejected in its bid to be an officially recognized bond rater in the U.S., just downgraded the entire U.S. The always objective Xinhua has the “scoop.”



The United States has lost its double-A credit rating with Dagong Global Credit Rating Co., Ltd., the first domestic rating agency in China, due to its new round of quantitative easing policy.


(Excerpt) Read more at blogs.wsj.com ...
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 10, 2010, 01:53:35 PM
SARAH PALIN 1       -              TEAM KNEEPAD 0     

________________________ ________________________ ____



Opinion Journal: Palin vs. Bernanke 11/9/2010 12:30:27 PM

Editorial page editor Paul Gigot scores round one for the former Alaskan Governor.  Also, Columnist Daniel Henninger analyzes the Speaker's bizarre reaction to an electoral shellacking. Allysia Finley responds to reader comments about the miserable fiscal state of the Golden State.


http://online.wsj.com/video/opinion-journal-palin-vs-bernanke/6A8B3973-6069-464E-B48B-4D4564C96DE5.html


Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 12:37:32 PM
doesn't she have any coloring books to color :D :D :D :D


YOU & TEAM KNEEPAD = OWNED ON THIS ISSUE. 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 01:31:34 PM

YOU & TEAM KNEEPAD = OWNED ON THIS ISSUE. 

your the one that believes palin had a intelligent thought, braaaaaaa, she's just a dumb ass parrot,but you believe her so whats that make you ;D ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 01:32:35 PM
your the one that believes palin had a intelligent thought, braaaaaaa, she's just a dumb ass parrot,but you believe her so whats that make you ;D ;D

Paul Gigot from thew WSJ, Peter Schiff, both said she was dead right on this.   Do you claim yo know more than them? 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Fury on November 11, 2010, 01:33:03 PM
Paul Gigot from thew WSJ, Peter Schiff, both said she was dead right on this.   Do you claim yo know more than them?  

They're not the only ones. A number of countries at the G20 are pissed at the USA for doing it as well, including Germany. Fiscally conservative Germany that has come out of the economic crisis pretty well. Maybe we should be listening to them.  ::)
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 01:36:57 PM
They're not the only ones. A number of countries at the G20 are pissed at the USA for doing it as well, including Germany. Fiscally conservative Germany that has come out of the economic crisis pretty well. Maybe we should be listening to them.  ::)

According to the far left - Obama/Bernake now know more than Germany, China, Schiff, Korea, Rubini, Stiglitz, the G20, Brazil, and everyone else in this crazy scheme.   ::)  ::)  ::)
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: BM OUT on November 11, 2010, 01:41:17 PM
your the one that believes palin had a intelligent thought, braaaaaaa, she's just a dumb ass parrot,but you believe her so whats that make you ;D ;D

And you believe Obama actually isnt a racist despite being best freinds with Rev. Wright and sitting in his church for twenty years.

Lets see,Palin,a mayor,governor and vice presidential candidate.Blacken,skinny ass pussy posting on a weight lifting web site.Hmmmm,wonder who I would believe ?
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 01:44:41 PM
And you believe Obama actually isnt a racist despite being best freinds with Rev. Wright and sitting in his church for twenty years.

Lets see,Palin,a mayor,governor and vice presidential candidate.Blacken,skinny ass pussy posting on a weight lifting web site.Hmmmm,wonder who I would believe ?


billy= team palin :D :D :D :D :D :D :D :D :D :D :D :D :D :D should have known
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 01:47:23 PM

billy= team palin :D :D :D :D :D :D :D :D :D :D :D :D :D :D should have known

Team Palin has a lot more credibility than the Obamatanic.

She was right on the Stim Bill
She was right on ObamaCare
She was right on KSM Trials 
She was right on inflation and the Fed. 
She was right on Arizona law suit


etc etc.   
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 01:50:17 PM

billy= team palin :D :D :D :D :D :D :D :D :D :D :D :D :D :D should have known

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 01:51:50 PM
i hope you dummies run her :D :D :D :D :D :D :D :D :D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 01:54:31 PM
i hope you dummies run her :D :D :D :D :D :D :D :D :D

1.  What has she been wrongabout?

2.  Why don't you respond to Arnolds' thread calling you out to be a little bitch and punk? 

3.  Can you refute this video? 

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 02:01:17 PM
if you read my post you will see i said she doesn't have any original thoughts just what someone tells her to say, but your so  in love with her looks you can't get pass that ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Fury on November 11, 2010, 02:03:09 PM
if you read my post you will see i said she doesn't have any original thoughts just what someone tells her to say, but your so  in love with her looks you can't get pass that ;D

Hahaha, the irony in this post is awesome.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 02:08:54 PM


hows that 200 million a day treating you :D :D :D :D :D :D :D :D :D :D :D :D :D :D you betchaaa, Berzerkfairy= team palin
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Fury on November 11, 2010, 02:13:17 PM


hows that 200 million a day treating you :D :D :D :D :D :D :D :D :D :D :D :D :D :D you betchaaa, Berzerkfairy= team palin

Nope. Not Team Palin. Doesn't mean I don't think she's correct here, though. See, unlike you, I don't follow party lines like an ignorant sheeple.

Then again, you've never had an original thought of your own and take your marching orders from HP/DU so I can't blame you.
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 02:17:52 PM
if you read my post you will see i said she doesn't have any original thoughts just what someone tells her to say, but your so  in love with her looks you can't get pass that ;D

Remind us again how many times you have been busted stealng others' posts and masking them as your own? 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 02:29:15 PM
how many lies have you posted just in the last week :D :D :D :D :D :D :D :D :D :D :D :D :D team palin
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 02:32:00 PM
how many lies have you posted just in the last week :D :D :D :D :D :D :D :D :D :D :D :D :D team palin

So far - not one.  Obama still wont release the cost of his world KNEEPAD tour and so far we don't know the total tally of this extravagence and prolifigate theft of the taxpayer.   
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 02:38:50 PM
how many lies have you posted just in the last week :D :D :D :D :D :D :D :D :D :D :D :D :D team palin

Its coming jackass - the worse your messiah fails - the closer she gets - get your packs packed- Canada is waiting. 

________________________ ________________________ ________________________ ________________________ _______

Emergence of Palinomics hints at populist 2012 run
Reuters ^ | 11-11-10 | Staff



With U.S. midterm elections over, it’s now the start of the U.S. presidential campaign for 2012. That may explain why Sarah Palin is suddenly opining on monetary policy and the dollar. The emergence of Palinomics suggests a run by the 2008 Republican vice-presidential nominee could feature critiques of banks and the Federal Reserve, as well as of President Barack Obama.

In a speech and a pair of Facebook postings this week, Palin unexpectedly warned her followers about the inflationary dangers of the Fed’s “pump-priming addiction” — a reference to the latest round of bond-buying by the U.S. central bank, known as quantitative easing. That’s hardly a novel critique. Many conservatives, and even some Fed officials, share Palin’s unease. It’s the politics and timing rather than the substance that is raising eyebrows. Avid Palin-watchers see her move into economic commentary as further evidence of a run for the White House. Indeed, the campaign team for putative Republican frontrunner and former banker Mitt Romney is assuming she will be in the race. And her upcoming, much-hyped reality television show, “Sarah Palin’s Alaska,” will no doubt play like an extended campaign commercial.

If Palin does run, her views leave her — not for the first time — well positioned to exploit the zeitgeist. Voters right now seem dubious of Big Anything, be it Government, Business or Money. In her 2009 book, “Going Rogue,” Palin offered a rehash of 1980s Reaganomics — low taxes, less government spending, strong dollar. That’s in sync with her recent Fed-bashing. But she also attacked “corporatism” in which government and business conspire against entrepreneurs and consumers. This view fuels Palin’s critique of Obama’s financial reform plan, which she portrays as a creation of Wall Street designed to perpetuate bank bailouts.


(Excerpt) Read more at blogs.reuters.com ...
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 02:49:24 PM
 with a dummy like you around she's guaranteed one vote ;D ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 02:51:49 PM
with a dummy like you around she's guaranteed one vote ;D ;D

Guess what - after the debacle last teusday, she has a chance, not as good as Thune or Christie, but after the crappola Obama is doing, even spongebob or tickle me elmo would have a chance.   
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: blacken700 on November 11, 2010, 02:55:51 PM
if the repubs want to win they better run a real candidate,if they run her that's a recipe for failure
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 24KT on November 11, 2010, 03:05:02 PM
333, I know you are a fan of Palin's, but despite her comments on Fed spending, I wouldn't trust the woman further than I could throw her. When the mainstream press comes out with a statement that Sarah Palin has made the harshest critique of Fed policy than any other politician ignoring Ron Paul, my red flags go off in much the same way as they did in August 2008 prior to the election. Something is up there. I consider her to be a media whore, who will get in bed with anyone to get press. For one, Palin isn't a politician, and deflecting attention AWAY from Ron Paul, who has always been consistent in his message tells me there is an agenda afoot. I am very reluctant to sing her praises... even when she does say something spot on. It's like what OzmO once said "Every once in a while, even a blind squirrel can find a nut." In this case, ...I can't help but to think, she was handed a carefully scripted nut.  To what ends... we'll only have to wait and see. :-\
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 03:06:50 PM
333, I know you are a fan on Palin's, but despite her comments on Fed spending, I wouldn't trust the woman further than I could throw her. When the mainstream press comes out with a statement that Sarah Palin has made the harshest critique of Fed policy than any other politician ignoring Ron Paul, my red flags go off in much the same way as they did in August 2008 prior to the election. Something is up there. I consider her to be a media whore, who will get in bed with anyone to get press. For one, Palin isn't a politician, and deflecting attention AWAY from Ron Paul, who has always been consistent in his message tells me there is an agenda afoot. I am very reluctant to sing her praises... even when she does say something spot on. It's like what OzmO once said "Every once in a while, even a blind squirrel can find a nut." In this case, ...I can't help but to think, she was handed a carefully scripted nut.  To what ens... we'll only have to wait and see. :-\

sorry - you aint throwing shit.  She probably would mess you up real good. 



Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 24KT on November 11, 2010, 03:08:44 PM
sorry - you aint throwing shit.  She probably would mess you up real good.  


I doubt it would ever come to that, ...but if it did, ...she'd need a gun to do it. lol.  ;D

ps: I hate when people quote me before I get a chance to correct my typos.  :-[
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 03:10:08 PM
I doubt it would ever come to that, ...but if it did, ...she'd need a gun to do it. lol.  ;D

ha ha ha ha.   
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 24KT on November 11, 2010, 03:15:29 PM
Ooooh... I'm shaking in my Jimmy Choos.
With that scope, ...she could probably see me in Ontario, ...all the way from Wasilla.  ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 03:16:43 PM
Ooooh... I'm shaking in my Jimmy Choos.
With that scope, ...she could probably see me in Ontario, ...all the way from Wasilla.  ;D

Nah - that does not look like it has much magnification, more for target aquisition as distances of 100 yards or less. 
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: 24KT on November 11, 2010, 03:39:45 PM
Nah - that does not look like it has much magnification, more for target aquisition as distances of 100 yards or less. 

Ya, ...but we're talkin' Palin-vision here.  ;D
Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 11, 2010, 07:46:25 PM
U.S. Wields Less Clout at Summit
Obama Sees Diminished Heft in Seoul Due to Slow Economy, Election Setback.Article \
   By JONATHAN WEISMAN and DAMIAN PALETTA



SEOUL—President Barack Obama headed toward the close of the Group of 20 summit, weakened by an anemic economic recovery and an election drubbing that have left world leaders questioning U.S. authority.
 
President Obama gestured at the start of Thursday's dinner at the National Museum of Korea in Seoul, where G-20 leaders opened their meeting.

In private meetings with Mr. Obama on Thursday, Chinese President Hu Jintao resisted his pressure on currency revaluation. Mr. Obama also failed to secure a free-trade agreement with South Korea by a deadline he set for Thursday, a blow to a president who has pledged to double U.S. exports over the next five years.

The summit of the Group of 20 industrial and developing nations is expected to conclude with a communiqué that papers over differences on fiscal and monetary policy that had been exposed in the run-up to the gathering.

Undersecretary of the Treasury Lael Brainerd said currency policy dominated a meeting between Messrs. Obama and Hu after the U.S. president raised it. Mr. Hu told his U.S. counterpart that China will push forward on revamping the yuan exchange-rate mechanism—a longtime goal of U.S. policy—but that such a move requires "a sound external environment" and can proceed only gradually, according to state television and a government spokesman.

He also told Mr. Obama that China is paying attention to the U.S. Federal Reserve's decision to pump $600 billion into the U.S. economy over the next eight months, which critics say is driving down the value of the dollar. Mr. Hu urged the U.S. to consider the interests of emerging markets, according to Chinese state TV.

"The major reserve-currency issuers, while implementing their monetary policies, should not only take into account their national circumstances but should also bear in mind the possible impacts on the global economy," Zheng Xiaosong, director general of the Ministry of Finance's International Department, reiterated at a pressbriefing.

White House press secretary Robert Gibbs pushed back on the notion that Mr. Obama's authority has diminished. China was not responding to currency pressure when the U.S. president was far more popular, he noted, and critics of US economic policies, like the outgoing president of Brazil, remain helpful on other fronts, from Iran to climate change.

That China was emboldened to lecture the U.S. on its currency, a notable reversal of recent meetings, underscores how it and other countries, including Brazil and Germany, have emerged from the global economic crisis faster and more strongly than the U.S.

Domestic politics may also be at play. An aide to South Korean President Lee Myung-bak blamed the trade pact's failure in part on the U.S. elections, which he said distracted the White House at a key time. White House aides said Mr. Obama could not accept the deal on the table because it could not get through the new Congress.

Mr. Obama found himself in the odd position of having to defend the U.S.'s independent central bank. He was also unable to quell concerns that the U.S. government is deliberately trying to weaken the dollar to boost exports.

Brazi's President Luiz Inácio Lula da Silva said Thursday he would press Mr. Obama to explain the Fed's move. President Lee demurred when asked about it. "I think that kind of question should be asked to me when President Obama is not standing right next to me," Mr. Lee answered.


German Chancellor Angela Merkel and South Korean President Lee Myung-bak "stressed their common concern" over the U.S. Fed's move in their bilateral meeting, a German official said.

The U.S. says the policy is designed only to boost U.S. domestic growth, which is critical to the global economy. It also argues that the dollar's value is correlated to confidence in the U.S. and global recovery, , and some other countries have rushed to the Fed's defense.

"Those who are criticizing the policy of the Federal Reserve, I'm not sure what alternative they're suggesting," Canadian Prime Minister Stephen Harper told reporters in Seoul. "I'm not sure anyone else has provided any compelling argument as to what alternative policy they would pursue, at least in the short term."

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Associated Press
 
President Barack Obama met with China's President Hu Jintao on the sidelines of the G-20 summit.

.The meeting of world leaders in Korea kicked off in earnest Thursday evening with a dinner and closed-door meetings focused in part on disputes over currency valuations and trade imbalances. The leaders are expected to reach severalagreements before they adjourn Friday, namely on financial regulation and the role of the International Monetary Fund. But the issues that divide them have led officials to quash expectations of a breakthrough on the top issues of currencies and trade.

"When you see the final communiqué, it will reflect a broad-based consensus about the direction that we need to go," Mr. Obama said. "There may be at any given moment disagreements between countries in terms of particular strategies."

The communiqué won't include a numerical target for trade surpluses or deficits, which the Obama administration had pushed. Nor is it likely to explicitly pressure China to accelerate increasing the value of the yuan, to make Chinese exports more expensive and to empower Chinese consumers. Similarly, it also isn't expected to level direct criticism at the Fed's recent decision to buy bonds. However, the U.S. and China could be criticized indirectly for running big current-account deficits and surpluses, which underlie and reflect exchange rates.

Mr. Obama and German Chancellor Angela Merkel agreed to play down the sniping from officials that dominated the run-up to the summit. Both resolved to pick up the phone before going public with their frustrations.

"They both agreed that it's not ideal in the run-up of a meeting like the G-20 to be reading attacks on specific economic or financial policies in newspapers from Germany or the U.S.," a German official said. "There was an agreement that in the future, perhaps, there could be better consultation."

—Ian Talley
and Patrick McGroarty contributed to this article.
Write to Jonathan Weisman at jonathan.weisman@wsj.com and Damian Paletta at damian.paletta@wsj.com

Title: Re: Palin Lashes Out At Bernanke, 'Cease And Desist' Purchase Of Treasuries
Post by: Soul Crusher on November 15, 2010, 06:31:39 AM
Looks like everyone who has a clue agrees with Sarah -not dumbo.

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Huge List Of Investors And Economists Pen Open Letter To Ben Bernanke Slamming QE
The Pragmatic Capitalist | Nov. 15, 2010, 4:34 AM | 1,504 |  12


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The Wall Street Journal ran this open letter to Ben Bernanke from many noted economists, professors and fund managers.  The list is a who’s who of Wall Street and the general message is not dissimilar to what Sarah Palin and Glenn Beck (not exactly the people you want to be next to when making economic prognostications) have been saying – in essence, cease and desist Chairman Bernanke.  While I agree with the general message of the letter (that QE should not be allowed to go forward) it also shows the great level of sheer misunderstanding when it comes to QE.  This one policy has generated more misunderstanding than any policy measure I can remember.

Many of the people on this list have been warning about bond vigilantes while also comparing the USA to Greece for several years now.  Of course, they’ve been terribly wrong and it is entirely due to the fact that they do not understand how the US monetary system works.  Their general fears of inflation and a crashing dollar have been far off the mark for reasons I have discussed in great detail here. What’s unfortunate is that these are many of our best minds.  These are the people driving the economic bus.  It’s no wonder this country is in such an economic hole.

The full letter is attached with some commentary:

“We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued.  We do not believe such a plan is necessary or advisable under current circumstances.  The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed’s objective of promoting employment.”

The LSAP should be discontinued, but not because it causes inflation or currency debasement.  In fact, it will cause no such thing as QE involves no printing of new money (Chairman Bernanke explicitly stated as much) and has a marginal deflationary bias.  In addition, its impact on interest rate is questionable at best as we’ve seen in Japan, the UK and the USA during QE1.  As I have shown, the early evidence shows that the program is counterproductive.  This program should be ended so as to maintain the credibility of the Federal Reserve and stop all market distortions that are occurring due to the sheer misconception surrounding the policy.

“We subscribe to your statement in the Washington Post on November 4 that “the Federal Reserve cannot solve all the economy’s problems on its own.”  In this case, we think improvements in tax, spending and regulatory policies must take precedence in a national growth program, not further monetary stimulus.”

Yes, in a balance sheet recession monetary policy becomes quite ineffective.  If the government is going to provide aid to Main Street (not Wall Street!) it should do so via fiscal policy.  A tax cut (such as a payroll tax holiday) is not only politically feasible, but would do a great deal in combating the debt problems that American households currently confront.

“We disagree with the view that inflation needs to be pushed higher, and worry that another round of asset purchases, with interest rates still near zero over a year into the recovery, will distort financial markets and greatly complicate future Fed efforts to normalize monetary policy.”

Inflation does need to be pushed higher, but it needs to be pushed higher by an increase in aggregate demand.  This will not occur because the Federal Reserve decides to provide the banks with more reserves.  Since QE does not increase the money supply this policy will not cause inflation. Just as it did not cause inflation in QE1 and in Japan earlier in the decade.  IT IS NOT MONEY PRINTING!

The Fed’s purchase program has also met broad opposition from other central banks and we share their concerns that quantitative easing by the Fed is neither warranted nor helpful in addressing either U.S. or global economic problems.

Cliff Asness
AQR Capital

Michael J. Boskin
Stanford University
Former Chairman, President’s Council of Economic Advisors (George H.W. Bush Administration)

Richard X. Bove
Rochdale Securities

Charles W. Calomiris
Columbia University Graduate School of Business

Jim Chanos
Kynikos Associates

John F. Cogan
Stanford University
Former Associate Director, U.S. Office of Management and Budget (Reagan Administration)

Niall Ferguson
Harvard University
Author, The Ascent of Money: A Financial History of the World

Nicole Gelinas
Manhattan Institute & e21
Author, After the Fall: Saving Capitalism from Wall Street—and Washington

James Grant
Grant’s Interest Rate Observer

Kevin A. Hassett
American Enterprise Institute
Former Senior Economist, Board of Governors of the Federal Reserve

Roger Hertog
The Hertog Foundation

Gregory Hess
Claremont McKenna College

Douglas Holtz-Eakin
Former Director, Congressional Budget Office

Seth Klarman
Baupost Group

William Kristol
Editor, The Weekly Standard

David Malpass
GroPac
Former Deputy Assistant Treasury Secretary (Reagan Administration)

Ronald I. McKinnon
Stanford University

Dan Senor
Council on Foreign Relations
Co-Author, Start-Up Nation: The Story of Israel’s Economic Miracle

Amity Shales
Council on Foreign Relations
Author, The Forgotten Man: A New History of the Great Depression

Paul E. Singer
Elliott Associates

John B. Taylor
Stanford University
Former Undersecretary of Treasury for International Affairs (George W. Bush Administration)

Peter J. Wallison
American Enterprise Institute
Former Treasury and White House Counsel (Reagan Administration)

Geoffrey Wood
Cass Business School at City University London

A spokeswoman for the Fed responded:

“As the Chairman has said, the Federal Reserve has Congressionally-mandated objectives to help promote both increased employment and price stability. In light of persistently weak job creation and declining inflation, the Federal Open Market Committee’s recent actions reflect those mandates.  The Federal Reserve will regularly review its program in light of incoming information and is prepared to make adjustments as necessary.  The Federal Reserve is committed to both parts of its dual mandate and will take all measures to keep inflation low and stable as well as promote growth in employment.  In particular, the Fed has made all necessary preparations and is confident that it has the tools to unwind these policies at the appropriate time. The Chairman has also noted that the Federal Reserve does not believe it can solve the economy’s problems on its own.  That will take time and the combined efforts of many parties, including the central bank, Congress, the administration, regulators, and the private sector.”

The Chairman should cease and desist, but not for reasons expressed in the above letter.  The Federal Reserve has placed its credibility at risk while also creating market distortions due to misconceptions surrounding a policy that very few people actually understand.  This is not only unhelpful in solving the actual cause of the current crisis, but creates extreme disequilibrium in markets that only makes matters worse.

Source: WSJ



Read more: http://www.businessinsider.com/huge-list-of-investors-and-economists-pen-open-letter-to-ben-bernanke-slamming-qe-2010-11#ixzz15MSFvMUt