Sunday, September 23, 2012

Quotable Quotes on QE3 – from financial newsletters

Two plus = five, etc.
The Fed's 'kamikaze' attack on the dollar - the floggings will continue until...
At this point all the pieces are in place for the inflationary spike and currency crisis I've been predicting for 2014. We now have open-ended QE that is tied to economic output and unemployment. But since debasing currencies has historically never been the cure for the bursting of a credit bubble, all the Fed is going to produce is spiraling inflation. So as this progresses we are going to see the Fed printing faster and faster as the result they are looking for never materializes. This is what will ultimately drive the currency crisis at the dollar's next three year cycle low in 2014.

At this point, watch the price of oil if you want to know when the next recession is going to begin. As I've pointed out many times in the past, recessions (well, at least since World War II) have all been preceded by a sharp spike in the price of energy. - “The DailyCrux” (click)

Mark LeVine, Professor of Middle Eastern history at U.C. Irvine, writes:

Americans and Europeans are no doubt looking at the protests over the "film", recalling the even more violent protests during the Danish cartoon affair, and shaking their heads once more at the seeming irrationality and backwardness of Muslims, who would let a work of "art", particularly one as trivial as this, drive them to mass protests and violence.

Yet Muslims in Egypt, Libya, and around the world equally look at American actions, from sanctions against and then an invasion of Iraq that killed hundreds of thousands of Iraqis and sent the country back to the Stone Age, to unflinching support for Israel and all the Arab authoritarian regimes (secular and royal alike) and drone strikes that always seem to kill unintended civilians "by mistake", and wonder with equal bewilderment how "we" can be so barbaric and uncivilised.

All of these things (and many more) have contributed to Muslim and Arab anger toward the United States and the West. Yet the underlying fact of all of these historical threads has been the United States' oil-driven foreign policy.

Very simply, the United States has for over half a century pursued a foreign policy in the region geared toward maintaining the flow of oil out of the region at any cost – even at the cost of inflaming the irrational and psychopathic religious elements that have long existed in the region. - Azizonomics - (click)

"It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that Bernanke has not achieved and it frustrates him, I can tell – is he gets no economic growth. He doesn't do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time..." - Ron Paul (click)

The Federal Reserve's latest stimulus effort will drive the dollar "through the floor," Peter Schiff, CEO of Euro Pacific Capital, told CNBC.

"This is a disastrous monetary policy; it’s kamikaze monetary policy,” Schiff told CNBC “The dollar index is going to go down to 40, it might even go to 20 - I mean this is going to be in free fall at some point … ultimately there’s going to be a currency crisis.” - Money News

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