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QE Whistleblower Warns “We Are Eerily Similar To 2008″

Posted By admin On November 14, 2013 @ 5:54 am In Money Watch | Comments Disabled

Zero Hedge [1]
November 14, 2013

Following his inconvenient truthiness yesterday, Andrew Huszar appeared [2] on Bloomberg TV today (having dismissed the comic-book-written discussion he faced in CNBC’s Fast Money yesterday). As usual Bloomberg gave him more time to speak, listened, and challenged some of what he said, but we were struck by the man-who-ran-the-Fed’s-mortgage-book’s points that “we are eerily similar to 2008.” Simply put, he implores, “the structure of our economy has not changed,” and his apology (on behalf of the Fed), is because the Fed “helped squander an opportunity to see change in America.” The fact of the matter, this was folly, “The Fed does not have the ttols to help the economy.”

What else could Bernanke have done?

QE1 at the time was defensible… but as we progressed, very quickly we began to see it was not working

So why wasn’t a decision made then to change course?

That’s a very good question and why I felt compelled to write this apology to America…

This was a program that was devised to help mortgage lending in America… mortgage lending decreased in that time…

Instead what we saw was massive Wall Street earnings

When should the Fed have stopped?

The Fed should have stopped after QE1 - when it was clear it wasn’t working – instead it has bought $2.5 trillion more bonds and put itself in a position where the exit is very uncertain

Ultimately the tools [the Fed] has at its disposal don’t work, and what it has done instead is enable a “crisis-driven” political system

Must-watch follow-up to his Op-Ed… [2] Ensure you listen to the last 60 seconds… “What the US needs is reform and change – not more easy money.”


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URL to article: http://www.prisonplanet.com/qe-whistleblower-warns-we-are-eerily-similar-to-2008.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-11-13/qe-whistleblower-warns-we-are-eerily-similar-2008

[2] inconvenient truthiness yesterday, Andrew Huszar appeared: http://www.zerohedge.com/news/2013-11-12/former-fed-quantitative-easer-confesses-aplogizes-i-can-only-say-im-sorry-america

[3] Climate Similar to the 1800s Within the Next 15 Years: First Stage of Global Cooling During 2008/09: http://www.prisonplanet.com/climate-similar-to-the-1800s-within-the-next-15-years-first-stage-of-global-cooling-during-200809.html

[4] BofA Warns Upcoming “Desperate Measures” By Authorities Will Result In Another 2008 Market Collapse: http://www.prisonplanet.com/bofa-warns-upcoming-desperate-measures-by-authorities-will-result-in-another-2008-market-collapse.html

[5] Stockman Warns of Crash Of Fed-Fueled Bubble Economy: http://www.prisonplanet.com/stockman-warns-of-crash-of-fed-fueled-bubble-economy.html

[6] Former Hitler Youth Whistleblower Warns Of America’s Nazi Future: http://www.prisonplanet.com/former-hitler-youth-whistleblower-warns-of-americas-nazi-future.html

[7] Dollar Set for Biggest Monthly Loss Since 2008 Versus Euro on U.S. Economy: http://www.prisonplanet.com/dollar-set-for-biggest-monthly-loss-since-2008-versus-euro-on-u-s-economy.html

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