The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Skeeter Bug who wrote (296434)	12/8/2010 6:17:38 AM
From: Giordano Bruno	Read Replies (2) of 306849

Hey, China gives us 12 months. At that time, U.S. Treasury bonds and the dollar will experience considerable declines." reuters.com So what on earth was Ben Bernanke thinking when he talked to Scott Pelley on CBS’s “60 Minutes” Sunday night? ...In defending himself, Bernanke said some things that left critics and admirers scratching their heads. For example, take his contention about money printing. Here’s the comment in full to provide context: “We’re not printing money. The amount of currency in circulation is not changing. The money supply is not changing in any significant way. What we’re doing is lowering interest rates by buying Treasury securities. And by lowering interest rates, we hope to stimulate the economy to grow faster.” Of course the central bank prints (definition: manufactures or produces out of pixie dust) money. Bernanke invoked that power in 2002 to reassure the public that the Fed has the means to prevent deflation, or a decline in the price level: a “technology known as a printing press that allows it to produce as many U.S. dollars as it wishes at essentially no cost.” ~Caroline Baum Plan B

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