March 18, 2008

Will Ben Bernanke and the Fed just say "f*ck it" and take rates down to 0% today?

He's gonna get there anyway, so might as well do it in one shot. They'll be calling him "ZIRPpy Ben" soon.

The dollar is f*cked. It's screwed. It's FUBAR. It's toast. It's dead.

Thank you Ben Bernanke. But at least
we were warned.

So what do you think Ben's gonna do today?

34 comments:

Anonymous said...

Dollars tough to sell on streets of Amsterdam
Monday March 17, 12:17 pm ET

AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.

"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."

That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.

The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.

Anonymous said...

He's going to pull a 75 pointer, followed by a good dosage of PPT pumping, along with its bootlicker CNBC as a shill, to make the conmen cheerleaders on Wall Street fake excitement. Then a huge nosedive will follow a few days later to fleece the sheep.

Anonymous said...

Bernanke is trying to keep his puppet master-conmen bankers alive as long as he can while they try to create the next bubble. However, it's been tough to find a bubble so the secret society may pull another fake war.

Afterthought said...

No they have to do this in stages or else they will run out of playing field real quick!

The dynamic at work is they are loaning money to cover loans from others issues at higher interest rates; if they go to zero to quickly they cannot drag this thing out till after the election which is what they are trying to do.

Keith please add to you run-on-the-bank story that if your money is sitting in the bank at 0 to 2% you might as well take it out in this environment, and have some ready cash at home.

The problem is gold is that it doesn't have a low value denomination. Can I bribe someone with a 10 or 20 dollar spec of gold? Or give them a damn whole coin!?!

Luckily I live close to the border and have safe houses abroad in case the Abu Ghraib nation takes its mask off completely.

Thanks for looking out!

Ed said...

75 and then another 75 next when today's 75 doesn't do shit

Anonymous said...

Why wouldn't they time it with the next domino in line bailout?

tangelo mozilo said...

75 bps.

Stock market struggles for direction for a few days and turns decisively downward by Good Friday.

The Mighty Tangelo has spoken.

david faber said...

He will cut rates to satisfy jim cramer.They are bed buddies.Cramer serves ben wheaties in bed.They have a special relationship now that cramer's ratings are tanking.I wonder how much cramer got paid by bear sterns to pump the stock?

Anonymous said...

Listen to the Mighty Tangelo for he is orange....and mighty.

Man are we screwed.

Anonymous said...

If he does that, than the market will definetely collapse in a matter of weeks. Why? Because there's nothing else to look after. There will be no hope. That is when shit will REALLY hit the fan.

I don't think the dollar is fucked as you guys think. For some reason I think the dollar will rally soon. I would not be betting against the dollar here.

Dny

Anonymous said...

Cut rates again! Maybe a point or even rumor of a point and a quarter. Can the fed not see the major problem right now is food and energy prices. Both which will continue to go up if rates are cut. Dow Chemicals CEO investing $60 Billion over seas due to high energy prices in America. Another company saying good bye to the once great USA. Why cut rates to save the stock market when the major problem is the falling dollar.

LauraVella said...

My guess is 1 full point!

Plus, lots of PPT.

Anyone's guess when the rates will start going up? I've read more and more people are putting their monies in CD's even though the rates are lousy.

Its better to earn just a little - than lose principal.

This is the environment we're in right now...

Mammoth said...

Hey Ben!

Will you quit picking at that festering sore already? Don’t you know that the best way to get this mess to heal is by just leaving it alone and allowing it to take care of itself?

Sure it will hurt for a while, but it will never get better if you don’t just leave it alone!

-Mammoth

Anonymous said...

It won't help as you can see from the BSC implosion.

Anonymous said...

Anonymous said...

Bernanke is trying to keep his puppet master-conmen bankers alive as long as he can while they try to create the next bubble. However, it's been tough to find a bubble so the secret society may pull another fake war.

Cheney and McCain are both in the Middle East this week to alert them that we will be bombing Iran about a month before the elections. McCain follows Cheney around singing Bomb, bomb, bomb... bomb, bomb Iran to the Beach Boy's Barbara Ann. The Shrub was there a few weeks earlier begging and kissing the King to produce more petrol for the poor USA. They told him to shut up and go home and get his economy in order and quit running around the world begging for handouts and freebies.

The Patriot Act will be invoked for national security purposes (Bush took care of this a year ago) and the election will be postponed indefinitely.

$100 Euros anyone? (Make that gold)

Anonymous said...

Watch for a crash when the Fed doesn't give wall street a full point

Anonymous said...

The Fed should lower the rate to negative 25 percent, then there will be more money and we Americans can live happily ever after.

I was being sarcastic. But such is the mentality with most of our countrymen. I was having dinner with seven of my coworkers and all of them and the two waitresses have this 100% total blind faith on the Federal Reserve and Uncle Sam. The gist of their argument was "oh, they will lower rates again tomorrow and in a few months time our economy will be healthy again" and "America is the biggest economy, we are too big to fail".

Most of my family members think the same way too. I try to reason with them and sometimes they will get angry and say "well, why don't you go move to Mexico or Africa if you hate this country so much?".

Anonymous said...

Controlling Interest.

Consider the meanings, applications and ramifications of these two words.

The truth will set you free.

devestment said...

I buy distressed undervalued assets. Todays distressed VALUE asset is the dollar.

Euros are overvalued paper, oil will drop by 50% when they open the US reserve or open up the Arctic.

This is all more of the big Ponzi scheme that pulls the masses back into servitude.

Don’t bet against the house (US Gov) you will loose.

Anonymous said...

1 full point!

Stocks rebound!!

Panic over!

Anonymous said...

BWA HA HA HA HA HA

DOW UP 300

IDIOTS

Andrew Hac said...

I think Ben will go and roast a live snapper turtle on a bed of white hot charcoal with juice sizzling out, fat dripping from the succulent flesh of the crawly creature. Then he's gonna top it off with a 6-pack of Red Dog manufactured in the Land of The Skunk.

#####

The Americano nation and its pitiful occupants's fate has entered a dark age, an ominous age filled with peril and uncertainty. An age of unimaginable stench emanating from the fart of the Housing Bubble. Who do you have to blame but yourself when you bough a $700K house on a $40K annual salary as a low-life telemarketer, a StarBuck cashier, a convenient store sales associate ? Add in a fat-ass, lazy, couch potatoes, hoity-toity wify, a couple of redneck, foul breath, rotten-teeth kids and you now have a perfect storm for the crashing of not only the Americano economy but the Americano family value as well.

Thus, with all due respect, I will ask you these $69,000 Americano-going-down-the-toilet-dollar-currency questions:

IS THE AMERICANO roasted nicely yet like a grilled snapper turtle ?

WILL THE AMERICANO ever find a shred of WMD in Iraq, the little Islamic nation that the Americano president DUBYA SHRUB and his side-kick PENIS SHOOTER had decided to invade few years ago ?

WILL THE AMERICANO take on the role of the world leader: Invade Red China ?

WHAT IS INSIDE the tummy of most Americano ? Greedy Worm and Sh*ts mostly, perhaps ?

WILL the famous Snapper Turtle outlive the obese, pigeon-brain, pompous Americano Australopithecus ?

WHEN WILL THE AMERICANO "Gone With The Wind" ?

Anonymous said...

Keith, plz just fold this blog and leave! Nothing is happening! Ben is on top of things and the herds are following the leader. And to be sure, here's a praise to Ben from a real expert. I found the thing on Bloomberg.com:

Bernanke Will `Get on Top' of Credit Crisis... Ben S. Bernanke has the skills to guide the U.S. economy through a credit squeeze, now in its eighth month, said Bank of Israel Governor Stanley Fischer.

Anonymous said...

Why does Andew Hac hate America so much? The man is obsessed with trashing America. He spends way too much time hating us. He should spend more time worrying about his own people.

Anonymous said...

Just like I said (see my post above):

1. 75 bp cut

2. PPT pumps the market (see the graphs around 3 PM)

3. Bootlicker and corrupt CNBC helps with the fake excitement to fool the sheep

4. All the crook or fool cheerleaders celebrate, acting like this humongous crisis is over

5. Huge nosedive follows in the next few days to fleece the sheep and erase today's phoney rally


Any questions?

Anonymous said...

They're waiting untill there are thousands of children starving in the streets, just like they did in pre WW2 Germany.

Anonymous said...

Bernanke Will `Get on Top' of Credit Crisis... Ben S. Bernanke has the skills to guide the U.S. economy through a credit squeeze, now in its eighth month, said Bank of Israel Governor Stanley Fischer.

Sure. Nobody here doubts that Bernanke will save all his Zionist puppet masters from Wall Street. Ask Schwartz, who was dumping his BSC shares all the way to December, Mozillo style, and didn't have to give them back because Bernanke didn't let BSC go bankrupt. Schwartz is probably going to the Chabad this weekend, after closing on his new $26 million Manhattan Penthouse.

However, it doesn't mean that this economy will turn around or this gigantic crisis will be avoided. Let me ask you, genius, how are the banks planning to create earnings without bubbles, without risky hedge games, without consumers spending? Just with ATM fees? All that Bernanke is doing is pushing the mess all the way after elections, while the crooks on Wall Street try to find a new bubble for their little bitch at the Fed push forward. Good luck finding a new one without consumers!

So the Israelis don't have to worry about it, since they run the show on Wall Street and control the Fed anyway. That's why comments like that, coming from the Bank of Israel, shouldn't be taken seriously by people with a working brain. Just the usual Zionists passing the Kool-Aid.

Anonymous said...

Why does Andew Hac hate America so much?

I find Andrew Hac's comments refreshing like a Turtle toasting on a George Foreman's grill, open from mouth to a$$, juices drilling...

Steve said...

Interest rates on short term Federal government issues are already so low that they threaten the functioning of money market funds that specialize in those types of issues. The annualized rates on 3 month to 2 year Treasuries are bumping around in the 1 to 1 1/2% range. Once the various expenses of the money market funds are subtracted, there is virtually nothing left for the depositor in those types of funds, much less any hope of staying even with inflation which currently is around 4%. All of which makes for a great disincentive to save and a greater propensity to spend, which I expect is not entirely coincidental.

The Bruiser said...

So, if the market demanded a 100bps cut "or else" and the Fed gave them 75bps, and the market rallied, did the market really need a rate cut in the first place?

Anyone else believe that the pigmen are trying to lure in fresh money before they & the rest of the insiders dump equities at the end of the week?

Anonymous said...

Taking a close look at this week’s trading chart on Wall Street should be enough to understand what’s happening. The choppy, seesaw chart--it looks more like the seismograph of a severe earthquake in Japan-- is an indication of how crooked our financial system has become.

The reason is that there are lots of sharks out there who know exactly the point in which panic would hit BBB (Bush & Ben Bernanke). They sell and sell and sell, then they pull back and watch the market nosedive.

Just at the critical PP (Point of Panic), and just at the point in which the sharks know BBB would intervene, they start buying back those stocks at a much lower price.

The stocks end up regaining much of their losses or may even gain some points. The sharks end up making more money in one session than a normal sheep would make in a year. The same scenario is then repeated over and over again.

This is happening because BBB have pretty much displayed their cards and have become so predictable that any moron in Wall Street should be able to know what those idiots are up to in any given situation.

Bygone are the times when the Fed’s integrity and independence were so jealously protected that no outsider could predict its future actions with the high degree of certainty we see today.

MAX

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Anonymous said...

Why stop at 0%? Go to -1%, pay people to take that trash off your hands.
With the number of foreclosures out there it's just a matter of time unitl some other financial institutions go bust. WaMu, Countrywide and even Citibank are likely candidates.

Big Cheese said...

I think Ben will go and roast a live snapper turtle on a bed of white hot charcoal with juice sizzling out, fat dripping from the succulent flesh of the crawly creature. Then he's gonna top it off with a 6-pack of Red Dog manufactured in the Land of The Skunk.
---------------

Andrew Hac, the last sentence is by far the funniest thing you've ever written. Keep it up, I think you've got a job as a talking head once Kramer gets the hook.

BC