Bernanke
Shocker: “No Rate Normalization During My Lifetime”
Forget
all talk about “dots“,
“6
months”,
or any other prognostication from the Fed’s new leadership about
what will happen in the near and not so near future. For the real
answer prepare to shelve out the usual fee of $250,000 for an hour
with the Chairsatan, or
read Reuters’ account of
what others who have done so, have learned. The answer is a stunner.
“At
least one guest left a New York restaurant with the impression
Bernanke, 60, does
not expect the federal funds rate, the Fed’s main benchmark
interest rate, to rise back to its long-term average of around 4
percent in Bernanke’s lifetime.
“Shocking
when he said this,”
the guest scribbled in his notes. “Is that really true?” he
scribbled at another point, according to the notes reviewed by
Reuters.”
To
think one could have read Zero Hedge for
free for
the past 5 years and gotten the same answer (time for a pop quiz:
pumping liquidity into a closed system in perpetuity is i)
inflationary or ii) deflationary?). But no, one would rather pay
Bernanke’s former annual salary in less than an hour to get the
answer from the same person who infamously
stated that
“subprime was contained”, that “there is no housing bubble”,
and that he doesn’t buy the premise of house price declines as
there has never been a “decline
of house prices on a nationwide basis.”
John Williams Of Shadow Government Statistics – Fed Will Prop Up The System Until It Falls Apart
http://usawatchdog.com/dollar-on-the-… John
Williams of Shadowstats.com
predicts an explosion of U.S. debt. He says, “All the projections
on the budget deficit are based on positive economic growth going
forward. With the ongoing contraction, you’ll see a much worse
budget deficit. It’s going to do bad things to the banking system.
The Fed is going to be easing, and they’ll say they are easing to
stimulate the economy; but in reality, they’ll be doing this to
prop up the banking system. The rest of the world sees this and they
don’t want to hold the dollar, and they will sell off the dollar.
The Fed is going to have to come in and prop up the system until it
falls apart.”
Join
Greg Hunter as he goes One-on-One with economist John Williams,
founder of Shadowstats.com.
“No
Rate Normalization During My Lifetime”
US debt and unfunded debts are $147 trillion
today and rising at $8 trillion a year. There is no chance that
US rates can normalize. I could have saved you that $250,000.
Or put it another way – US debt and unfunded
liabilities are $1,265,000 per taxpayer and rising at $69,000 per
taxpayer per year.
Kotlikoff claims that US debt and unfunded
liabilities exceed $230 trillion and growing at $11 trillion a year.
132 Nations Want Out Cabal Banking System
The secret cabal’s control over international
markets is becoming less of a mystery as increasing numbers of
markets reveal themselves so obviously to be fixed. The cabal cheats
the 99 percent with Libor interest rates, foreign exchanges, &
Gold,…
Combatting the Crunch: ECB
Plans Negative Rate on Bank Deposits
When
it meets on June 6, SPIEGEL has learned, the European Central Bank
may implement a negative interest rate for financial institutions
seeking to park their money at the Frankfurt powerhouse. The move is
aimed at spurring loans.
European Central Bank executive board member
Peter Praet of Germany is expected to recommend that the bank cut its
main refinancing rate from the current 0.25 percent to a record low
of 0.15 percent when the bank’s Governing Council meets on June 5.
In addition, the bank also wants to introduce a
negative rate on bank deposits of -0.1 for the first time in its
history. The ECB’s deposit rate is currently at zero, and a further
cut would mean that banks would effectively have to pay a fee to park
their money. Normally they would be paid interest to do so. Under the
new punitive rate, if a bank were to deposit €100 million in a
central bank account, the ECB would withhold €100,000. The measure
is aimed at encouraging banks to lend money rather than park it at
the ECB. It is hoped the move will prevent the kind of credit crunch
and freeze in lending seen during the height of the euro crisis, when
private and corporate loans all but dried up.
SGT REPORT NEWS BRIEF: BANK ACCOUNTS TARGETED,
INFLATION SOARING, SILVER FIXED
In this episode:
- UK Prime Minister David Cameron Targets Bank
Accounts
- Fascist US Oligarchy Installs Offspring & Family Friends on Board of Ukraine’s largest Gas Co.
- Food Price Inflation in the U.S. SOARS
- California Burns
- London Silver Fix Folds as Deutsche Bank Flees
- CPM’s Jeffrey Christian Spins the News, Proposes COMPUTERIZED Silver Price Fix
- Fascist US Oligarchy Installs Offspring & Family Friends on Board of Ukraine’s largest Gas Co.
- Food Price Inflation in the U.S. SOARS
- California Burns
- London Silver Fix Folds as Deutsche Bank Flees
- CPM’s Jeffrey Christian Spins the News, Proposes COMPUTERIZED Silver Price Fix
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