I agree with Marc, he should resign as soon as possible, what BUBBLE ben bernanke did yesterday is just the beginning to a continued crisis. I have no clue why markets are cheering this news, everyone should know that BUBBLE ben bernanke is creating the next great collapse, its slowly building, it doesnt look like there is a problem today, but in near future there will be. As he says QE only helps the rich people and no one less than that, as you can see commodities are booming once again as oil touches $100 today, this isnt helping the guy who lost his $62,000 a year job for a new one that pays half that, everything is so fucking out of touch now that there is no stopping what has happened and what will continue to happen. This is nothing, but trillions and trillions of worthless money printing, you will see how bad this is going to get once people wake up and realize that what BUBBLE ben bernanke has done was the wrong way of going about fixing this greatest crisis that has ever touched this economy. Marc Faber: If I Were Bernanke, I Would Resign CNBC.com | September 14, 2012 | 07:04 AM EDT Central bankers are âcounterfeit money printersâ and Federal Reserve Chairman Ben Bernanke should resign for messing up the U.S. economy so badly, Marc Faber, author of the Gloom, Doom and Boom, told CNBC on Friday. He said Bernanke was one of the main proponents of an ultra-expansionist economic monetary policy that was to blame for the latest financial crisis. âIf I had messed up as badly as Bernanke I would for sure resign. The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous â it doesnât work that way. Itâs a temporary boost followed by a crash,â Faber said. Faber, who rose to prominence after predicting the 1987 financial crash report and dubbed "Dr Doom" for his negative predictions, said: âThis unlimited QE (quantitative easing) , buying mortgage-backed securities (MBS) and continuing operation twist has the implication of simply having asset prices go up and the money flows down to the Mayfair economy,â Faber said. A Mayfair economy is one which benefits the wealthier and better off in society. Faber said this latest round of QE would not help the âman on the streetâ. âQE helps rich people whose asset prices go up and whose net worth then increases but it doesnât flow to the man on the street who is faced with higher costs of living with price rises. You just have a small economy that is booming but the majority of the economy is damaged by QE,â he said. Bernanke announced on Thursday that the Fed would buy $40 billion a month in MBS, giving the impression that this time around there would be no time limit to the program, which would only stop once a sustained uptick in employment is visible. âThe money printers are responsible for this crisis. If we continue with this expansionist monetary policy we wonât be facing a fiscal cliff it will be a fiscal grand canyon,â he added. Mike Konczal, fellow at the Roosevelt Institute disagreed claiming that this latest round of QE â aggressive as it was â would expand the scope of Federal Reserve policy and was âgreat for main streetâ. Crucially, he said, it tackles the issue of employment which would underpin future wealth. âIf anything, monetary policy has been too tight in recent years. Weâve seen a collapse in GDP growth, no wage growth and huge rises in unemployment. Wealth is collapsing because of a collapse in the housing market and prolonged, mass unemployment ,â Konczal said. Faber poured scorn on the notion that QE helps the economy, declaring that commentators like Konczal would have said the same in 2001 when low interest rates led to the biggest housing bubble in the United States. That in turn led to the financial crisis of 2008. âIf we have an economic crisis in the Western world itâs because the government makes up 50 percent or more of the economy. This is a cancer that is taking away peopleâs freedom,â he said.