The dominant status of U.S. dollar is probably the primary fruit of U.S. winning the WWII and the Cold War. If U.S. loses that status by inflating the Dollar, it is a cheap price to pay for other nations even they lose all the value of their dollar reserves.
Thanks for admitting you were wrong. First you said we should all shut up because these "highly-trained"experts at the Fed know exactly what they're doing...while the rest of us mere traders and mortals don't. When confronted with the evidence of all the Fed's blunders, you throw your hands up and say I should apply for a job there and be a lier (sic) just like one of them. I'd like to see these guys audited then abolished, so there's no need for me to apply. But even if I could, I lack the political connections to get the job.
Why, do you want the printing press in the hands of politicians? I din't know you are out of your mind when I started the conversation.
is an actor a thief because he played a thief? Too many young people like you noawdays cannot distinguish TV paid drama from reality.
Out of my mind? Pot calling kettle... I said nothing about wanting to run a printing press. I've been critical of the Fed for doing that. Now run along now. Your meds are calling.
Einstein defined insanity as doing the same thing over and over yet expecting a different result. If in a reasonable time frame (say by the next presidential election) significant improvement has not occurred I would say the fair thing to do would be to take another direction in monetary policy.
You are missing the big picture. If there is no inflation, the USA will surely default. It is gaurenteed. The USA NEEDS to devalue the dollar, and NEEDS to create inflation, in order to avoid default. I am not a USA citizen, but feel for those who are. It's true, many ordinary folk will get fucked over in this process. But it is better than a USA default. USA default would be absolute chaos. Not only for the USA but for the entire world. Dollar devaluation/inflation is the one and only option for the USA. Accept it, and you will begin to understand the Fed's policies.
I've got a lot of respect for Rogers, and I know he disagrees with printing more money. Printing more money has its drawbacks, obviously. It sucks for a lot of reasons. My thinking, though...Bernanke has a better grasp of the state of the US economy than Rogers. Bernanke studied the Great Depression quite a bit; what went wrong and what could have been done to alleviate, rather than exacerbate the situation. QE is a necessary evil. All of you Bernanke critics: do you really expect us to believe that Bernanke is stupid? Or is he just evil...He's doing this intentionally to bring the country down?