Submitted by Tyler Durden on 08/24/2012 11:23 -0400
Ben Bernanke
Ben Bernanke
Bond
European Central Bank
Federal Reserve
Germany
Monetization
recovery
Reuters
It is Friday, and the market is in danger of posting its first weekly loss in months. Which means it is time for everyone's favorite Fed mouthpiece, Jon Hilsenrath to hand over the podium to his true superior, Ben Bernanke, by posting the Chairsatan's response letter to Republican Darrel Issa in which he defends QE and leave in the following: "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery." And just to make sure that as Hilsenrath is to the Fed, so Reuters is to the ECB, we get the following tried and now simply pathetic regurgitation of the Spiegel rumor from this Sunday (which was since denied at least two times for the simple reason that Germany will never agree to open-ended debt monetization until global stock markets are literally collapsing) via Reuters: "ECB considering setting yield band targets under new bond buying programme according to sources." Of course, neither Ben has said anything new, nor the ECB has said something that is on the margin either credible or actionable (recall that earlier today the ECB explicitly said its hands are tied until the Kardinals of Karlsruhe make their decision in 3 weeks), but the market doesn't care, and surges. Sadly for the programmed market ramp, the non-news was leaked too early, and should have been released at 3:30 pm at the earlier. Look for a full German denial shortly.
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Boilermaker
Boilermaker's picture
SURPRISE!!!!
Cognitive Dissonance
Cognitive Dissonance's picture
It hammered Gold and Silver.
Too funny the games TPTB play.
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Fri, 08/24/2012 - 11:38 | 2734028 AlphaDawg
AlphaDawg's picture
Keep talking wankers
Its all you got, print now or later, the system is *ucked
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Fri, 08/24/2012 - 11:53 | 2734075 flacon
flacon's picture
Yeah, that was retarded - announce more printing and silver takes a punch in the gut. Let's hope the buying absorbs these punches.
http://www.zerohedge.com/news/bernanke-rescue-there-scope-further-action-federal-reserve?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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