Dollar Falls as Fed Announces Possible QE3

[Lumi]

Dollar Falls as Fed Announces Possible QE3
<!-- | http://madjacksports.com/forum/#comments_controls
-->Steven C. Johnson
Reuters
July 13, 2011

The dollar fell against most major currencies on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank could resort to more monetary stimulus if a sluggish U.S. economy weakens further.

That pushed the euro near $1.42, moving it further from the prior session?s four-month low beneath $1.39 and on track for its best day since mid-January.

Surprisingly swift Chinese growth data also helped divert attention, at least temporarily, from a worsening euro zone debt crisis after Fitch Ratings said an ambitious Italian deficit reduction plan would help stabilize its credit rating.

Read more

 

[ssd]

Fricking idiots.

Bernanke is a tool. Listening to his testimony makes my head spin.

Talks about the high cost of food and fuel dampening consumer spending ability?

His accomodative policy is the direct reason for the high cost of food and fuel!!!!

Friend of mine in London told me that when QE1 was initiated that it would all end in disaster as they would have to continue with QE2, QE3 ad infinitum until everything blew up.


Currency war is on. Fed v China and the ECB.


Gold and silver probably popped on the news? Haven't looked at PMs today.

 

[Lumi]

Bernanke Says Fed Would Consider New Stimulus Effort

Bernanke Says Fed Would Consider New Stimulus Effort

Bernanke Says Fed Would Consider New Stimulus Effort

<!-- | http://madjacksports.com/forum/#comments_controls
-->BINYAMIN APPELBAUM
The New York Times
July 13, 2011

WASHINGTON ? The Federal Reserve chairman, Ben S. Bernanke, gave a subdued account of the economy?s health Wednesday, saying that he expected the economy to grow at a moderate pace during the rest of the year, with unemployment declining ?only gradually.?

The unexpected weakness is forcing the Fed to reconsider its determination early this year to refrain from new efforts to stimulate growth.

While no additional actions appear imminent, Mr. Bernanke said in congressional testimony Wednesday that the Fed would be prepared to act if necessary.

He described options including an explicit commitment to maintain its stimulus efforts for a longer period, the resumption of asset purchases or steps that would encourage commercial banks to use the reserves they current keep on deposit with the central bank.

Read more


On the comments page, of the first 25, One comment is pro Berne...

http://community.nytimes.com/commen...n-face-of-moderate-outlook-bernanke-says.html

 

[Lumi]

Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011

Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011

Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011

<iframe width="425" height="349" src="http://www.youtube.com/embed/2NJnL10vZ1Y" frameborder="0" allowfullscreen></iframe>

 

[Duff Miver]

Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011

Is gold money? Maybe, depends on who wants it and in what circumstances.

When the SHTF, a few grams of antibiotics might be worth a sack of gold.

SHTF, a box of .45 might be worth more than a lump of gold.

There are places in the world today where a bag of rice is more valuable than a bag of gold.

The Japanese recently thought iodine tablets were very precious.

Gold is just another commodity, and the price goes up and down with demand. Over the last year, corn has done better than gold.

A lump of gold is easier to transport than a bushel of corn, or a drum of oil, but a lot of gold is more difficult to transport than an equal value of diamonds.

 

[Lumi]

Is gold money? Maybe, depends on who wants it and in what circumstances.

When the SHTF, a few grams of antibiotics might be worth a sack of gold.

SHTF, a box of .45 might be worth more than a lump of gold.

There are places in the world today where a bag of rice is more valuable than a bag of gold.

The Japanese recently thought iodine tablets were very precious.

Gold is just another commodity, and the price goes up and down with demand. Over the last year, corn has done better than gold.

A lump of gold is easier to transport than a bushel of corn, or a drum of oil, but a lot of gold is more difficult to transport than an equal value of diamonds.

you are right, you are always right...

damn, gold was worth what today?

I'm sure in your WORLD you think you can take on Ron Paul in a debate? :142smilie

 

[Duff Miver]

you are right, you are always right...

damn, gold was worth what today?

I'm sure in your WORLD you think you can take on Ron Paul in a debate? :142smilie

Today an ounce of gold was worth 214 bushels of corn, or a half days dose of the anticaner drug Avastin,or 16 barrels of oil, or one itsy-bisty diamond, or a set of high performance tires, or a medium quality shotgun, or 1/75th share of Berkshire-Hathaway.

Why do you ask?

Tomorrow it will be worth more or less.

I don't need to take on Ron Paul. Bernanke kicks his ass just fine.

 

[ssd]

Any asset class can be viewed as 'money' - it is valued in USD or Euros and therefoer is equated to a value.

If you do not view it as money because it's value fluctuates, then you also do not see any fiat currency as money as those values fluctuates daily as well.

Anything that can be used in a barter system can be viewed as a currency.

 

[Lumi]

QE3 Off? Bernanke Says Fed Not Prepared To Take Action At This Point

QE3 Off? Bernanke Says Fed Not Prepared To Take Action At This Point

QE3 Off? Bernanke Says Fed Not Prepared To Take Action At This Point

<!-- | http://madjacksports.com/forum/#comments_controls
-->Zero Hedge
July 14, 2011

When in doubt, baffle them with male cow manure: Bernanke Says Fed Not Prepared to Take Action at This Point, but, Bernanke Says Recovery ?Still Rather Fragile?. Is Bernanke finally channelling his inner Greenspan. Oh, and just in case the Moody?s threat was missed, Bernanke adds that a US default would trigger a crisis and would lead to ?chaos.? Will someone just give the president a three-page termsheet already.

 

[Lumi]

Allow me to post for Sally diver

Tyler Durden :142smilie :142smilie

A character from a movie...

This coming from a guy/girl/tranny? :shrug:

Who calls itself Duff Miver? :SIB