13:13 09Nov10 RTRS-CHINA FX REGULATOR PUBLISHES RULES TO CURB SPECULATIVE CAPITAL INFLOWSMr. President: Get that ******* out of office NOW.
13:14 09Nov10 RTRS-CHINA FX REGULATOR SAYS IT WILL STRICTLY MANAGE COMPANIES' SHORT-TERM FOREIGN DEBT QUOTAS
I, and a few others, warned you in advance - when you re-nominated this jackass and even before, based on his bald-faced lies to Congress and you, along with his near-perfect record of being dead flat wrong about damn near everything.
He now has multiple Fed Governors who disagree with him along with major nation-states on not only the advisability of QE2, but their willingness to tolerate it.
This is going to get out of control very, very quickly unless you put your boot on his neck and make this crap that is coming out of his mouth and fingers stop.
If you approved of this with the idea that it would allow you to continue to deficit spend, you need to understand that you're not in control of the decision. Our trading partners are, and they're saying "stop it right now or you're done."
Brazil - and others - will follow this lead. If China does what I think is next - the creation of a Pan-Asian exchange mechanism by which to clear trading obligations - the United States dollar hegemony is ****ed.
Yes, I know, Europe is in trouble again. I get it. I understand that Ben thinks he has margin to play with as a consequence. He's wrong, because while this may be about Europe from his point of view, it's not from the Asians nor from the Brazilians.
Bernanke has not been right about anything since 2005. That's documented.
If you keep listening to him you're running the risk of being the last President of this nation.
That's not a joke - or an exaggeration.