Fed Chair Ben Bernanke Plans to Quit RIGHT After He Makes Final Decision on ending QE

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BarryDonegan

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"Will the Fed jerk rates up on banks, freezing credit markets during the holiday shopping season and causing a recession? If the central bank chooses not to, will investors fear inflation and rush to commodities, thus crushing the dollar? Ben Bernanke apparently doesn’t want to find out, because the word on the streets is that he plans to quit his job as Chairman of the Federal Reserve on January 31st of 2014, allowing him to quietly slip out of the exit right before the consequences of his fiscal mistakes become apparent to the general public."

http://silverunderground.com/2013/07/bernanke-plans-to-quit-before-the-feds-house-of-cards-falls/
 
Do we know he plans to stop QE? I haven't heard he planned to, but rather planned to keep pumping money. Ben has put himself is a spot where he can't stop QE, as it would collapse the banks.
 
Instead of doing his last press conference in person, he will be doing it via skype from an undisclosed location.
 
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Intoxiklown said:
Do we know he plans to stop QE? I haven't heard he planned to, but rather planned to keep pumping money. Ben has put himself is a spot where he can't stop QE, as it would collapse the banks.
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He has been dithering back and forth between saying he'll end it and implying maybe he won't, but if he's quitting in Feb 2013, even if he doesn't, then around December the markets are going to assume QE is going on forever and gold would skyrocket, so either way there has to be an unwinding around Christmas because that's the latest point Bernanke set everyone to look towards.
 
Pure speculation is all this is...

But what is the Fed's role any longer with such low interest, flooding money rates?

Where is the average American saving? The stock market, housing market? Not the savings market. It's clear we are finished with this currency. From watching price dislocations from wages, and living standards.
 
News that Bernanke won't be seeking another term and leaving the post in January has been reported now for many months. Speculation is that Janet Yellen is favored to replace him by Federal Reserve insiders and bankers while Larry Summers is favored by the Obama administration.

Thread title is silly. Bernanke won't be making the "FINAL" decision on anything. His successor may or may not continue whatever policy / direction Bernanke has set.

The crux of the issue remains though. The Fed is between a rock and a hard place. They can't afford to stop QE without crashing the economy and they can't continue it indefinitely either.
 
Wait a second, I thought the captain was suppose to go down with his ship?
 
Who doesn't understand this? If you're helicopter Ben and you're term is up in 1/2 year why would you want to rock the boat? Nothing will happen with QE infinity before the end of the year. Ben's got a lot of books to sell and lots of insider trading to be done before they "make the move"
 
Nothing new. He has been talking about not wanting another term for a couple years now.

Policy is set by the Board of Governors- not just the Chairman.
 
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Bern said:
News that Bernanke won't be seeking another term and leaving the post in January has been reported now for many months. Speculation is that Janet Yellen is favored to replace him by Federal Reserve insiders and bankers while Larry Summers is favored by the Obama administration.

Thread title is silly. Bernanke won't be making the "FINAL" decision on anything. His successor may or may not continue whatever policy / direction Bernanke has set.

The crux of the issue remains though. The Fed is between a rock and a hard place. They can't afford to stop QE without crashing the economy and they can't continue it indefinitely either.
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I believe that failure to act by the specified time will also be perceived as "making a decision" and will result in the dollar plunging in value. This is why he has trapped himself in a position where he has to announce something on the policy right before he leaves, whether to end it or whether to not end it at that time, not ending it being one of the decisions that could be made and thus have a devastating consequence on the dollar. One can theorize that his failure to end the program after telling the markets he probably will for so long would have no effect on the market, but it could also have a major effect (likely will, IMO).
 
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Zippyjuan said:
Nothing new. He has been talking about not wanting another term for a couple years now.

Policy is set by the Board of Governors- not just the Chairman.
Click to expand...

who are the people that make up the Board of Governors? specifically.
 
torchbearer said:
who are the people that make up the Board of Governors? specifically.
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That would be: http://www.federalreserve.gov/aboutthefed/bios/board/default.htm

Board Members

Ben S. Bernanke, Chairman
Janet L. Yellen, Vice Chair
Elizabeth A. Duke
Daniel K. Tarullo
Sarah Bloom Raskin
Jeremy C. Stein
Jerome H. Powell
Members since 1913


The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.

The Chairman and the Vice Chairman of the Board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chairman or Vice Chairman.
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RATS jumping the sicking ship ... Great guy that Bernanke .... He and his banksters shelter billions in the Caymen Islands ... then cry to the Federal Mafia they need bail-outs to avoid bankruptcy. I heard today, if the average Joe Blow files for bankruptcy and shelters maybe 5,000. or so in someone else's bank account ................. the Feds go balistic and look for 20 or 30 year prison sentences.

There is no longer a United States of America... so what is this former republic more akin too now. We now have a dictatorship, so are we more like Iraq .... Cuba .... Venezuela? Not sure.. Would love to know what your opinion is to which dictatorship the former USA belongs too. Communist Red China? Your thoughts?
 
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