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Old 12-01-2011, 07:53 AM   #1
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Jim Willie: Perpetual QE Without the Billboard

Quote :
The US Federal Reserve has fooled a lot of people into believing that the grand monetary pump and debt monetization project has been put on hold. The only thing that changed was their talking publicly about it. The money press has been working to the limit, never stopped. The discussion has been kept quiet, but the machinery still makes a lot of shrill noise. The proof is not movement of lips by central bankers, but the data from the monetary aggregate. The data is compelling in calling them out. ...



Always trust Ludwig, our reliable patron saint of money whose epistles combat the evil forces of fiat money. VonMises said that inflation always has been a matter of money growth. It always will be. Notice in the yearly monetary aggregate chart, where ticks are full years, that the 2010 and 2011 years show a steady linear growth. The money supply never stopped growing in summer 2011. The June deadline came and went, and nothing changed, only the words from the increasingly desperate central bankers, led by the hack economist professor Ben Bernanke. ...

The money supply is still growing. The data contradicts the premise that the QE program was terminated. Easily explained. The initiative turned global to produce Global QE. The USFed has been accommodating the Europeans and Wall Street banks, so that the broken insolvent big Euro banks can be propped with more phony money. The Euro Central Bank is printing money heavily or else borrowing in heavy volume from the USFed Dollar Swap Facility. Without bond market buyers, the EuroCB has reluctantly filled the void and has been buying the Italian Govt Bonds. Recall that big Euro banks are huge sellers of sovereign bonds. The USFed never stopped printing money to buy USTreasury Bonds, which ramps up each month as USGovt debt piles up each month. Recall that foreign creditors are net sellers of USTBonds. The USTBond auctions have not failed, and for a reason. The USFed is buyer of last resort. Where the bids came from has been kept quite secretive. It is the USFed, which never stopped QE. In fact, Global QE is the mainline policy nowadays, and it has turned into hyper-inflation under the sleepy eyes of both investors and the financial press. Why the investment community relies upon the central bank liars and the financial press dimwits is proof of national stupidity in my view. Intelligent people are wondering if QE3 will emerge when QE never ended!!

THE ONLY THING THAT CHANGED SINCE JUNE 2011 WAS THE USFED DOES NOT TALK ABOUT THEIR VAST MONEY PRINTING AND DEBT MONETIZATION. THE DULL MENTAL CAPACITY OF THE MASSES IS ASTONISHING.
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A lot more: http://news.goldseek.com/GoldenJackass/1322686800.php

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