Fed fell on own "Sword!" Pleas it warn't nothing. "Fight Back!"Submitted by Mark Twain on Fri, 02/18/2011 - 15:49
Fed won't fall on its sword, Bernanke says [after the fact that it did]. - Feb 2011, "Sword Fight Speech."
February 18, 2011
WASHINGTON (MarketWatch) -- The Federal Reserve isn't going to fall on its sword to save the world economy, Ben Bernanke said Friday.
The Fed... this weekend's meetings of the Group of 20 [central banker] finance ministers.
If emerging markets have a problem with too much capital flowing into their economies, they should fight back...
with their own monetary policies, rather than demand that the Fed do their dirty work, he said...
...Fed's easy money policies are having bad unintended consequences in emerging markets. They [those foreigners] say that all those dollars being created by the Fed are flowing into commodity markets and emerging markets, creating inflation, currency imbalances and asset bubbles. They insist that the Fed stop trying to reinflate the U.S. economy. [They are correctly cited.]
Bernanke's response: The Fed... doing... U.S. economy [in]. If China, or India, or Egypt have a problem with that, it's up to their authorities to recalibrate their own policies. It'd be really good, for instance, if China would allow its currency to appreciate [relative to US "legal tender" becoming the toast of National Cash!]
Bernanke spoke from his own painful experience. The Fed... failed... The result was a global disaster.[Seriously!]
... he owned [& loaned] up to his share of responsibility for the disaster: "The primary cause of the breakdown was the poor performance of the financial system [... his loans of your cash,] and financial regulation in the country receiving the capital inflows, not the inflows themselves." [Foreigners not blamed. IMF not blamed.]
But... cooperation is easier said than done. - Uncle Ben, w/o reserve, 2011
Système d'apport de Liquidité, 1913!
Toast! Everyone, drink up! Toast! To System of Liquidity!, 1913
- Bernanke defends QE2 as G-20 gathers in Paris - MarketWatch
Vive la France et les pommes de terre frites ! (French Fries?)
Feb 18, 2011 ... (MarketWatch) -- Stung by criticism about the [sword]...
- Bernanke defends QE2 on global stage The Fed - MarketWatch
Feb 18, 2011 ... Bernanke urged his G-20 colleagues to work together to ...
- Show more results from marketwatch.com
Twain Summary: Working & stumping for a foreign corporation, the Immaculate Money Fountain (IMF), Uncle Ben tours France with a whistle stop in Paris.