Fisher also worried about that what appears to be a global tilt toward greater central bank action via asset purchases could be problematic. Citing "the specter of competitive quantitative easing," Fisher said "such a race would be something of a one-off from competitive devaluation of currencies, a beggar-thy-neighbor phenomenon that always ends in tears."Fisher's comments mean absolutely nothing until 2011, when he is voting member of the FOMC, but shows that there are a few people not happy with Zimbabwe Ben's kamikaze attitude towards monetary policy and the dollar. If you want to get inside Bernanke's thought process check out Bernanke Explains How To Escape The "Liquidity Trap", where he lectures the BOJ on how to produce inflation. The general premise is that if money printing fails, just print more. It is a win-win scenario, either you successfully produce inflation or the central bank buys up the world's financial assets. It is truly a statement by a madman/criminal. This is the current Chairman of the Federal Reserve. No surprise gold is hitting new all time highs.
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