RBS Tells Clients To Prepare For 'Monster' Money-Printing By The Federal Reserve -- The TelegraphAs recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve.
Entitled "Deflation: Making Sure It Doesn’t Happen Here", it is a warfare manual for defeating economic slumps by use of extreme monetary stimulus once interest rates have dropped to zero, and implicitly once governments have spent themselves to near bankruptcy.
The speech is best known for its irreverent one-liner: "The US government has a technology, called a printing press, that allows it to produce as many US dollars as it wishes at essentially no cost."
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More News On The Financial Crisis
The Third Depression -- Paul Krugman, New York Times
Krugman's Depression -- IBD Editorial
Obama says he's serious about tackling deficits -- Reuters
G-20 Calls for Higher Bank Capital to Avert Financial Crisis -- Bloomberg Businessweek
Gargantuan financial reform bill: It's not just for banks -- Christian Science Monitor
Report Warns That Many Banks Still Vulnerable to Crises -- New York Times
Fragile global economy 'at risk of new crisis' -- ABC News (Australia)
US state budget crises threaten social fabric -- Financial Times
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