QE3?

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Iron
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In 2008, Nick Clegg was in favour of an EU referendum: http://www.guardian.co.uk/world/2008/fe ... ldemocrats

Yet now, he's instructing his MPs to vote against such a referendum.

Strangely enough, I can't find any mention of that u-turn on the BBC news website...

BTW, the email the BBC sent me has been published: http://biased-bbc.blogspot.com/2011/10/ ... ining.html

They've also sent me a follow-up email: http://biased-bbc.blogspot.com/2011/10/ ... laint.html

Jeff
superfrank wrote:
Ferru123 wrote:Believe it or not, they emailed me today to tell me that any further complaints I make about left-wing bias in the next 2 years won't be considered!
like they considered any of them anyway!
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superfrank
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Bank of Japan increases stimulus and keeps rates low
http://www.bbc.co.uk/news/business-15472839

Japan prints more in attempt to weaken the Yen.

Texas governor Rick Perry recently described stimulus and QE as “generational theft”. He was right - it's all for the benefit of the baby-boomer generation, who've already had a charmed financial life (and are the generation in power), at the expense of everyone else and future generations.
Iron
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Jim Rogers thinks QE3 is already under way and calls Bernanke a liar! :lol:

http://www.fool.com/investing/general/2 ... r-way.aspx

Jeff
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superfrank
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Great clip.

Jim Rogers is a top man and it's good there are a few around - the average economist is a sheep that believes all rubbish fed to him by central banks etc.
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superfrank
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Because Central Banks Just Aren't Enough: G-20 Will Ask IMF To Print Reserve Currency
http://www.zerohedge.com/news/because-c ... e-currency
Iron
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:lol:
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superfrank
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I sent Mystic Merv a letter a couple of weeks ago and received a reply yesterday (signed by him but no doubt written by a helper, but nonetheless a reply).

The frightening bit for me is the last sentence and the assumption of recovery achieved by stimulus/QE... many others (e.g. Peter Schiff) believe this action is actually preventing any chance of a real recovery.
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Iron
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Looks like QE3 may be on its way:

St Louis Fed chief James Bullard: "Federal Reserve can reopen liquidity facilities if the situation in Europe deteriorates"

Chicago Fed chief Charles Evans: "Federal Reserve should be acting as if there is a very big problem, the economic problems are much larger than the Fed had expected."

Jeff
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superfrank
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or roughly translated: "...our share prices aren't going up, quick print some more money".

QE is part of the cause of the problems because it is delaying the necessary restructuring of economies.

They are still in denial, thinking that they can return to a busted economic model based on cheap credit, consumerism and housing.
Iron
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S&P downgrades bank credit ratings - http://www.bbc.co.uk/news/business-15955173

You know things are serious when Goldman Sachs have their credit rating cut!

Jeff
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superfrank
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A Reminder Of The EURUSD's Response To The Historic Announcement At 2:00 PM On March 18, 2009
http://www.zerohedge.com/news/reminder- ... ch-18-2009
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superfrank
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Deutsche On QE3, It's $800bn Or Bust!
http://www.zerohedge.com/news/deutsche- ... bn-or-bust

suggests that the market has $800bn of new funny money priced into bonds.
Iron
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Gilt yields fall on double-dip fears - http://www.ft.com/cms/s/0/6ee261f2-2d86 ... z1hOyyBPNj

'The government’s benchmark long-term borrowing costs fell to their lowest level since the 1890s, reflecting investor fears that the economy is heading for a double-dip recession.'
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superfrank
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it's mad really. a country's risk to honour its debts surely increases when they are in recession and have to borrow more and receive less in tax.

the only reason yields are falling is obviously because it means more bond buying with printed money.

according to the BBC (http://www.bbc.co.uk/news/business-16315355)...
The low level reflects market expectations that the UK economy is likely to experience years of low growth and low inflation, with the Bank of England holding short-term interest rates close to zero.
the first and last parts are almost a given, but the low inflation part is far from guaranteed (especially if investors lose confidence in the UK and the £ depreciates even further). ponzi economics imho.
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superfrank
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what to buy ahead of QE3 (expected in March) by Soc Gen...
http://www.zerohedge.com/news/complete- ... -ahead-qe3
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