Federal Reserve has already started QE3, says investor Jim Rogers

He hasn't been wrong so far, so I doubt he's wrong about this.

Mr Rogers, who co-founded the Quantum Fund with George Soros, believes that America's central bank is secretly printing money to avoid "getting egg on their face again" after previous attempts to kickstart the faltering economy with $2 trillion of QE failed.

"I do not know if they [the Fed] will announce it," he told India's Economic Times. "I know they are going to print more money. They already are. If you look at their balance sheets, you will see that something is happening, assets are building on their balance sheets and they are not coming from the tooth fairy.

Bernanke Fails To Deliver As Chairman Checks To Congress

For every action there is an equally opposite reaction.
Hit the link and check the chart

The market is not amused...

•*BERNANKE SAYS STAGNATION IN LABOR MARKET IS `GRAVE CONCERN'
•*BERNANKE SAYS FED WILL BOOST ACCOMMODATION AS NEEDED FOR GROWTH
•*BERNANKE SAYS HE WOULDN'T RULE OUT FURTHER ASSET PURCHASES
•*BERNANKE: QE `SIGNIFICANTLY LOWERED LONG-TERM TREASURY YIELDS'
•*BERNANKE SAYS IMPACT OF QE IS `ECONOMICALLY MEANINGFUL'
•*BERNANKE: BIG BOOST IN QE MAY REDUCE CONFIDENCE IN SMOOTH EXIT
Those are the headlines. Here is the disappointing conclusion , which promises nothing new at all:

Friday Humor: Gold Is A Barbeque Relish

Inn the senseless world, of the Keynesian cult, Mark McHugh, gives us a delightful parody into the ultimate of understanding.
Or in other words I laughed so hard I cried lol.
Do yourself a favor and take a De-stress break and partake of the delightfully divine "Gold is a Barbeque Relish"
You'll be glad you did


by Mark McHugh of Across The Street,

My Doctor’s an idiot. A few years ago, he started expressing concerns about my weight, pointing at this chart supposedly showing how much a man of my height should weigh. One glance at his stupid chart and it was clear to me that he had completely misdiagnosed my condition. There was nothing wrong with my weight, I just wasn’t tall enough. Clearly I needed to grow my way out of this. So I went home and googled “how to stimulate growth.” Once I got past the all the baldness cures and penis pumps (it’s not my bag, baby), I found hundreds of papers so incredibly boring I knew they had to be true. In no time, I was able to design and implement my own stimulus plan based on the irrefutable scientificky principles of Nobel prize winners and other people so smart they never had to do an honest day’s work in their lives. Despite the difficulty climbing stairs, I was feeling pretty good about things until my last check-up….

“Hi, Doc.”

“Hi,” he said, examining my file. He looked up, “You’ve put on twenty pounds since the last time I saw you”

“Thanks for noticing,” I beamed.

He frowned. “I remember now. You’re the guy on the diet designed to make you grow. What’s that called again?”

“The Keynesian Plan.”

“Is that the one where you eat bacon and cheese, but not

Jon Stewart Destroys Bernanke In Four Minutes

http://market-ticker.org/akcs-www?post=174362



Thanks for the laugh of the day Karl.

It not only the truth on the running of the financial system, but it also gives a pretty good look at what "our" so called "Law and Order" system looks like.
And at this point, I can't surmise anything, but bought.
Where is the FBI?
Where is the Attorney General?
He's looking into Wiki, who leaked without a condom.
Personally I think he's a plant, the big look away,and if that doesn't get your attention, they're pushing the ET thing again.
They do NOT want you to look at what is happening in the Financial world, and will spin anything to draw your attention away from it.
The whole Financial system has lost any shred of credibility it had.
It's now become a big joke and John proves it right out of Bernanke's own mouth.
The banks lying, cheating, and stealing,as well as their arrogance about doing it, for rewarding themselves for cheating not only "You" the taxpayer
but 'You" the consumer and "OUR" government paves the way for them to do it.
Non acceptable kids
This is not a look away moment.
This is the time to understand.
"WE" DO NOT have to accept this shameful excuse for a system.
It's not "OUR" system, it's their crapped out interpretation.
See, this is why I don't play games.
Because people cheat and when you catch them you have a choice to make.
You either stay silent and play on,
Or you call them on their crap, and end the game.
It's time to end the game
"OUR" country depends on it.
They do know what they're doing.
It's called stripping this country dry
Right in front of your face.
If not the FBI, would have already moved in.

More Fed Shenanigans: TILA

http://market-ticker.org/

Lol the time has now come to question:
WHERE THE FUCK DO "WE" LIVE!
And just who the hell is running the joint!
Obviously it's the FED'S FOLLIES, where everything is a set up and if there are set rules they're implanted in a Jello mold, so that they can be jiggled and moved, if not in fact removed all together.

So it's obvious at this point that "Bennie's Bastards" are up to their nose in shit and can no longer stand the smell, so once again Bennie has come running to the rescue and proposed this time to make it virtually impossible, unless your Warren Buffet, to nail their lying asses to the wall.
I guess the Attorney General of the UNITED STATES is to busy trying to plug Wiki's leaks to actually pay attention and do his own job.

AMERICA IT'S TIME TO ASK
WHAT THE HELL HAS BENNIE DONE FOR YOU LATELY!




Under the radar I'm sure The Fed would like this to stay..... no dice jackasses.

First, some background: The Truth in Lending Act from 1968 gives borrowers the “right of rescission,” the ability to undo a home refinancing or home equity loan within three years of the closing if the lender did not make proper disclosures — generally of the loan amount, interest rate and repayment terms. The law makes allowances for mere mistakes by the lender, but otherwise requires strict compliance, as well it should: disclosure is the main — often the only — consumer protection in the mortgage market.

...

The Fed proposal would change all that. Citing concern over banks’ compliance costs, it would require a borrower to pay off the remaining principal before the lender gives up its security interest. That would be clearly impossible for troubled borrowers. So the Fed’s proposal would benefit the creditor who violated the law rather than the borrower, paving the way for foreclosures that otherwise could be avoided.

In short, what this means is that if the bank violated black-letter law in making a loan to you the change would require you to pay off the entire principal before you could assert your rights and remedies.

This is like requiring someone who was robbed to somehow come up with the money to repay the owner of the property that was stolen before the robber can be held to account for his criminal act.

Yeah.

No wonder The Fed doesn't want this one out in the public eye.

Sorry BerScrewTheCommonMan - now there's 300,000+ people who know about it.

Spread the word.

Timmy Lies Again

http://market-ticker.org/akcs-www?post=172845

Timmy actually thinks he or big Ben has credibility?...For real?
Coz from what I can see no one else does anymore, of course their change of tune might be just a simple case of CYA, which I'm pretty sure it is, due to the fact that a great many of them lined their own pockets off of the crap that Timmy, Hank, and Ben were and have been doing to lead the way back to safety for their bestest buddies at the investment banks.

How does the FED think it's going to create jobs? The only things I can see they're doing by monetizing the debt is
1)Trying to keep their own job,(If nobody buys Gov debt, there's not much left for them to do) as well as holding their bestest buddies heads above water so they don't drown in their own insolvency.
2)By monetizing the Gov debt it keeps all of those defense contractors working,( hey without them how would we be able to participate in the wars)
God knows our Military can't take care of itself anymore, and they even admit it. Which by the way is down right embarrassing, as well as a huge waste of money. It seems to me like it a double dip at this point, one or the other has to go. "WE" can only afford to keep one.
On a personal note I wonder, (because Timmy just shot his mouth off in talking down to the Republicans) how long he will get to keep his title?
You can't call it a job, because he takes no salary from the Treasury position. Which kind of has to make you wonder why the hell the government would allow him to make any decisions at all doesn't it?
It ain't like he works for us and can be held responsible.

Timmy Lies Again

You knew he couldn't keep his mouth shut, right?

U.S. Treasury Secretary Timothy F. Geithner said the Obama administration would oppose any effort to strip the Federal Reserve of its mandate to pursue full employment and warned Republicans against politicizing the central bank.

“It is very important to keep politics out of monetary policy,” Geithner said in an interview airing on Bloomberg Television’s “Political Capital with Al Hunt” this weekend. “You want to be very careful not to take steps that hurt our credibility.”

You have to have something in order to lose it.

No Inflation? Grocery Stores, Gas Prices Tell Different Story

http://finance.yahoo.com/news/No-Inflation-Grocery-Stores-cnbc-1559291069.html?x=0&sec=topStories&pos=1&asset=&ccode=

America, have you figured out Ben and the Federal Reserve as well as the government doesn't work for you yet?
Because if you haven't,
Here's your proof!


From grocery stores to gas stations and most other consumer stops in between, price inflation is shaping up to be the biggest economic story ahead.



Whether it's how much you'll pay for home heating oil or a loaf of bread, don't believe the non-hype: Even if traditional measures of consumer prices aren't yet showing major increases, consumers know what they see.

"It's not good news from a whole variety of perspectives," says Nicholas Colas, chief investment strategist at BNY ConvergEx in New York. "Food inflation is getting very bad and that's just bad news for the majority of consumers who are still stretched. It's bad news for the 42 million people who are on food stamps."

Price inflation is coming primarily from upward global pressure on commodities like the multiple grains that go into food production as well as heating oil and gasoline that power the world's growing economies.

It's also being driven by a weak dollar, which has continued to fall in value as the Federal Reserve has printed more and more money to pay for programs it hopes will stimulate growth.

Dallas Fed Admits "For The Next Eight Months, The Nation’s Central Bank Will Be Monetizing The Federal Debt", Opens Door To Bernanke Impeachment

http://www.zerohedge.com/article/dallas-fed-admits-next-eight-months-nation%E2%80%99s-central-bank-will-be-monetizing-federal-debt-op

It's time for a change America.
The interests of the "PEOPLE" are not being served, they are being denied by those who should have NO SAY in the choices "WE" decide.


Time to begin the Chairman impeachment proceedings. It is one thing for blogs like Zero Hedge to argue (rightly) for the past 1.5 years that the Fed's actions in the Treasury space are nothing but direct debt monetizations. After all, one can always argue semantics, as some peers have enjoyed doing in the past. Yet when an actual Federal Reserve Fed President, in this case Dallas Fed's Dick Fisher states it without any trace of hiding the underlying intent, then things get a little serious. To wit: "For the next eight months, the nation’s central bank will be monetizing the federal debt." It gets worse: even though Fisher realizes that what he is doing is unconstitutional, he also admits that the Fed's actions are now is effectively a policy tool: "Here is the message: The Fed is going out of its way to be a good citizen. It is time for the Congress to do the same." In other words, the myth of the Fed's political independence is now destroyed. All pretense has now gone out of the window as the Fed realizes this is the last "all in" bet. If this fails, it is over. Yet maybe someone in power can precipitate this much needed reset. After all it was Ben Bernanke who testified under oath that the "Federal Reserve will not monetize the debt." It is time he is impeached and prosecuted for this lie.

Bernanke's Lies - Impeach Him Now

http://market-ticker.org/akcs-www?post=171483


"WE" can't afford any more of Ben's lies America
Because the repercussions from them carry on for life times.

If You Believe It, Wear It

http://market-ticker.org/akcs-www?post=171362


It's time to fire Ben as well as get rid of the FED.
America you can't afford to pay the middleman any more.
I's time to get rid of cost plus.

Grayson To FCIC: Increase Reserves

http://market-ticker.org/akcs-www?post=170995


Well it's a good thing Karl has such an excellent memory, coz I forgot all about that one.

Yeah, ok..... may I ask what reserves, given that Bernanke was given the ability to set them to zero in the TARP bill?

SIGTARP Calls Out Tim Geithner On Various Violations Including Data Manipulation, Lack Of Transparency, "Cruel" Cynicism, And Gross Incompetence

http://www.zerohedge.com/article/sigtarp-calls-out-tim-geithner-various-violations-including-data-manipulation-cruel-cynicism

Little Timmy got his report card
Lets just say it wasn't up to par
And his conduct grade was even worse

SigTarp Neil Barofsky has just released the most scathing critique of all the idiots in the administration, with a particular soft spot for Tim Geithner.

On the failure of TARP to increase lending:

Foreclosure Mess Under Review, Report Looms: Bernanke

http://www.cnbc.com/id/39828633

Here comes Ben to save the day!
No, not for you.
But for his banking buddies.
You see the FED is in a fix,
That crap is sitting on their books to and it makes them look very stupid for forking over money (yours) for a title they can't even transfer.
It's either that or collusion, either way it's bad for the FED.
The stupidity factor, means Ben's not fit to make economic decisions that effect this country.
And the collusion factor, means Ben should be tried and imprisoned like the rest of the big investment banking industry, after all he does take violations of proper procedure seriously.


Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclose on people's homes, Federal Reserve Chairman Ben Bernanke said Monday.

Preliminary results of the in-depth review into the practices of the nation's largest mortgage companies are expected to be released next month, Bernanke said in remarks prepared for delivery to a housing-finance conference in Arlington, Va.

"We are looking intensively at the firms' policies, procedures and internal controls related to foreclosures and seeking to determine whether systematic weaknesses are leading to improper foreclosures," Bernanke said. "We take violation of proper procedures seriously," he added.

Let's Face Facts: America Doesn't Want Tea

http://market-ticker.org/akcs-www?post=170167

Ben actually came out and said, The loans needed to be made in the right way?
OMG....Busted.
Was that his idea of regulation? A little reminder to do right?
Now think Ben and Hank lying to congress about what they were going to do with the money.
Hank made it real clear and made sure of the fact that he couldn't be held personally responsible for actions that needed to be taken.
Coz he knew he was covering up a crime, and odds are the Senate knew to.
Else why would they give the money to him when the people had already made it clear that the consideration was off the table and the House voted it as such and the motion was killed.





All these "Fancy Schmancy Financial Products" - remember this quote?

Ben Bernanke, 5/18/2006:

"Our assessment at this point ... is that this looks to be a very orderly and moderate kind of cooling," Bernanke said.

"We're not saying you shouldn't make these loans. What we're saying is that they be done the right way," Bernanke told the banking conference.

What was Citibank's Chief Underwriter saying at the same time?

“In mid-2006, I discovered that over 60 percent of these mortgages purchased and sold were defective,” Bowen testified on April 7 before the Financial Crisis Inquiry Commission created by Congress. “Defective mortgages increased during 2007 to over 80 percent of production.”

He also reported this up the chain to senior Management.

The Federal Reserve, and The Federal Reserve Bank of New York, are the primary regulators for these large banking institutions.

They - including Ben Bernanke personally - knew full well what was going on with "these loans" AND THEY LIED TO CONGRESS AND THE AMERICAN PEOPLE. WORSE, THEY'RE STILL LYING!

Let me be plain about this:

This entire mess - all of it - the entire housing bubble and subsequent collapse, along with the unemployment, poverty, privation and loss - occurred due to the intentional blindness and refusal to regulate by the people entrusted by YOU to keep your money, your credit, and our economy safe and sound.

Instead of doing their jobs they literally gave these financial institutions a license to rob you blind and then assault you from the rear for good measure.

These executives and the regulators knew full well what was going on. They were fully aware of the defective nature of these loans. They did nothing - on purpose - to stop it.

And now, more than three years into this mess, not only have they done nothing but neither political party has addressed the problem nor has there been

Bernanke And 'Remedies' For Foreclosuregate

http://market-ticker.org/akcs-www?post=169158

How did you fix deliberate and willful fraud?
You don't!
Unless your helping to cover it up.
So what Ben is saying is that it was not only OK to fuck over a nation of individual people doing business with the banks but it was actually OK to fuck over the investors of the products the banks were selling.
Only in America folks.
A criminal investigation needs to be started now and not by those that would help to cover it up!

"Chairman Bernanke informed us that they have in fact discussed the issue with the major lenders, and that they are meeting with other regulatory agencies to review the problems associated with foreclosures; that they will pursue appropriate remedies relative to document signing and MERS issues," National Community Reinvestment Coalition President John Taylor said in a statement.

This from the regulator that allowed all these hinky securities to be assembled by the very institutions he oversees, who stuck his head up his ass while they were being packaged and marketed, who has done nothing about the apparent refusal of these firms to actually adhere to the quality standards under which they sold these things to investors, and who now seems to think that national banks hiring a gang of thugs to literally break into someone's house meets the standard of a firm that should have a banking license.

John Dillinger had nothing on these guys.

Bernanke Deals Drugs, Then Admonishes Users

http://market-ticker.org/akcs-www?post=168256

The head spin Ben is trying to play get handed back to him on silver platter by Karl Denninger.
Check out Karl's chart
Big Ben keeps using the credit card and making sure that the United States so buried under the debt, that "WE" can never crawl out.
Every country in the world is doing this in one form or another, because you have to break the old before you can implement the new,
Which is a one world government. Run by the elite.


The astounding hubris of this ******* to make statements of this sort....

The recent deep recession and the subsequent slow recovery have created severe budgetary pressures not only for many households and businesses, but for governments as well. Indeed, in the United States, governments at all levels are grappling not only with the near-term effects of economic weakness, but also with the longer-run pressures that will be generated by the need to provide health care and retirement security to an aging population. There is no way around it--meeting these challenges will require policymakers and the public to make some very difficult decisions and to accept some sacrifices. But history makes clear that countries that continually spend beyond their means suffer slower growth in incomes and living standards and are prone to greater economic and financial instability. Conversely, good fiscal management is a cornerstone of sustainable growth and prosperity.

This is the reason, of course, that Ben Bernanke has driven short rates to zero with unprecedented liquidity actions, and then beyond that, monetized over $1 trillion dollars worth of continually spending beyond the means of The Federal Government.

Fed boss: More securities buys could help economy

http://finance.yahoo.com/news/Fed-boss-More-securities-buys-apf-596531551.html?x=0&sec=topStories&pos=main&asset=&ccode=

Gee I wonder if Ben is talking about picking up the tab for all those foreclosures that the AMI (American mortgage investors)wants bought back by the banks. Isn't it nice of Ben to do that on "our" dime? The timing seems perfect doesn't it?
Coincidence? I doubt it.


Federal Reserve Chairman Ben Bernanke said Monday that the economy could be helped by another round of asset purchases by the central bank.

Bernanke's comment reinforces analysts' beliefs that the Fed is likely to take action at its next meeting Nov. 2-3.

The Fed is considering launching a new program to buy government debt, a move aimed at driving down rates on mortgages, corporate loans and other debt. It's wrestling with how much it should buy.

"I do think the additional purchases -- although we don't have the precise numbers for how big the effects are -- I do think they have the ability to ease financial conditions," Bernanke said during a town-hall style meeting here with college students.

During the recession, the Fed ended up buying a total of roughly $1.7 trillion of mortgage securities and debt, as well as government bonds. Bernanke called that "an effective program."

Fed to look into insurance contracts on Greek debt

http://finance.yahoo.com/news/Fed-to...70230.html?x=0

What a joke. The FED rather than the FBI is going to "look into" what Sachs and the others have pulled.



Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is looking into Goldman Sachs and other Wall Street firms' use of a sophisticated investment instrument to make bets that Greece will default on its debt.

Bernanke said the Fed is looking into companies' use of credit default swaps, a form of insurance against bond defaults. Bernanke made the comments at the start of a Senate Banking Committee hearing, where the Fed chief delivered his twice-a-year economic report to Congress.

"Obviously, using these instruments in a way that intentionally destabilizes a company or a country is counterproductive, " Bernanke said, adding that the Securities and Exchange Commission probably will be looking into this matter as well.

Financial terrorism?... You decide

http://market-ticker.denninger.net/archives/1895-Financial-Terrorism-You-Decide.html

Let the market roll
American taxpayers don't need Ben to continue to screw us over.
Wall Street is able to do that just fine all by itself, and has proven that it can do so quite effectively


Watch this video clip first, and pay careful attention to the implied threat: do this or the market will blow up.



Let's cut the crap - this isn't the first time that this sort of raw threat has been made.

I will remind people that in September of 2008 when Bernanke and Henry Paulson demanded $700 billion for EESA/TARP, and threatened that "if this doesn't pass the market will blow up."

Well, The House initially refused to pass the bill, if you remember.

Do you remember what Ben Bernanke was doing behind the scenes at the time?

I'll show you - once again

Off with the head of the FED

http://www.ft.com/cms/s/0/3831df1c-0780-11df-915f-00144feabdc0.html

How can the FED be independent, when they're playing with "OUR" money?


Economists warned that a rejection of Mr Bernanke could be seen as a threat to the central bank’s independence. US Treasury yields were little changed but stocks fell more than 2 per cent.

If you would check the record Mr Dodd, you will see that Ben's way is not working,
Paul Volcker does have the know how and experience to handle the situation.
We "The People" are tired of watching our country die.
We're in pain now, whats a little more if it rights our direction.
"WE" demand the best in breed, and that's Paul Volcker!

Chris Dodd, the chairman of the Senate banking committee, said a No vote would send the economy into a “tailspin”.

Ask your self why does the President have to FIGHT for Wall Street regulation.
Common sense says it should already be in place.

Mr Obama Friday made a defiant speech in Ohio at the end of a week in which he promised to fight for healthcare reform and Wall St regulation