Chicago Fed’s Evans Calls for Immediate OPEN-ENDED MBS Purchases

August 27, 2012 By 4 Comments

MOPE continues as the Chicago Fed’s Charles Evens in a speech today called for OPEN-ENDED MBS purchases.
Let that sink through for a moment.  Is the Fed preparing to announce open-ended and UNLIMITED QE??

Gold and silver are still MASSIVE BUYS in this QE to INFINITY environment.

 

WASHINGTON (MarketWatch) — In a speech in Hong Kong, Chicago Fed President Charles Evans said the central bank should make open-ended purchases of mortgage-backed securities until the economy shows clear signs of improvement, such as a steady drop in unemployment for two or three quarters. The dovish Evans isn’t a voting member this year. “Given the risks we face, I think it is vital that we make such moves today. I don’t think we should be in a mode where we are waiting to see what the next few data releases bring. We are well past the threshold for additional action; we should take that action now,” he said.
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Comments

  1. Avatar of Sumkid Sumkid says:
    August 27, 2012 at 8:48 PM

    Unlimited QE? Silver to the moon! Up, up and away! Stack the smack! I’ve heard that motto ever since I found SilverDoctors which was about 10 months ago.

  2. Avatar of ricin3000 ricin3000 says:
    August 27, 2012 at 8:54 PM

    Hmmm, QEWAN? (… with another name). More like the Twist 3.0 perhaps. There too they inflated M3 but made sure it never got into M1 by design. No wonder they like to call themselves “technocrats” by way of the MSM.
     
    And come to think of it, and all-to-fitting in this still deflationary environment (for immovable assets and savings), it in the end takes away valuable land from private small hands into private huge hands and/or the gov itself.
     
    Remember how Mussolini defined corporatism/fascism, the merger of state and big business, especially the financial sector. Well the rotten egg gave birth to a rotten creature and its one and only raison-d’etre seems to be swallowing the people’s wealth in every aspect, be it earnings, possessions, savings, talents, ideas, beauty, their individuality. It’s no different from communism, the only difference is in the eye/ear of the beholder. Only difference is rhetoric. Not substance. It works exactly the same way.
     
    Anyway logically, mathematically speaking, once you do QE it can be nothing else than QE to infinity, and eventually the rubber will hit the road and it will seep into M1. Those “trickle down” shamster economists will in a twisted way be right for once in their miserable life. And then they will seek shelter under a bridge.
     
    IMHO,
     
    R3K
     

  3. Avatar of Citizen Citizen says:
    August 28, 2012 at 9:20 AM

    If this does happen… and i believe they have no choice, be aware that the price appreciation of bullion will be short live.

    There is a “latency” period where bullion prices will surge and other asset classes, real estate, farm land and commodities will follow quickly.

    Thus if you intend to ”profit” from the surge in bullion values, you will have to convert into other asset classes to utilize that gain effectively for capital preservation.

    Good Luck       

    • Avatar of RocketsRedGlare RocketsRedGlare says:
      August 28, 2012 at 10:11 AM

      Pms are most likely the asset classes of last resort. Everything else is either a part of the ponzi, can be stolen, nationalized, non transportable or subject to degradation.

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