Enkele collega’s van mij zijn er zich over aan het verbazen dat de FED en Treasury Department enquêtes hebben gestuurd richting dealers om te vragen hoe veel QE2 ze willen hebben van Sinterklaas.
Ze suggereerden de volgende vragen:
Do you think that QE2 is necessary to lift the US economy out of its current funk?
A) yes I do, I just read the latest Nomura research and I feel really depressed
B) naturally! Its the purpose of the Fed to put copious amounts of free money into the market and then claim it does not cause bubbles
C) are you kidding me?? My bank stock just went down three percent, without my 100 million shares doubling from here we will never get inflation!
How much QE do you think is necessary?
A) at least USD 500 billion, what is a dollar worth anyway, so the amount should be adjusted for the fall of the dollar versus that bloody yen
B) lets start with a trillion a month and work our way up until we bought all the outstanding US debt and then start buying European paper, I hear that Greek debt is still really cheap
C) a gazillion dollars pls, nothing less would really work anyway otherwise we would all have to learn Japanese...
At the Fed we have a practical problem: we are running out of space for our printing presses, can you help us with that?
A) sure, I just had to move some of my finest prop traders to a different building with another name on it to meet new Fed requirements (thanks for that!!!) So plenty of space available.
B) of course, we can rent all that excess office space that was left over as a result of the previous bubble, how much do you need?
C) perhaps I can install some at home? It’s close to Xmas again and my wife was really annoyed that she did not get a yellow Rolls for her birthday, so I have to make up for that as well. These are really hard times...
Do you think that QE2 will cause inflation?
A) nahhh... Perhaps food prices will double, but hey.. Americans are way too fat anyway
B) not really, but I am a bit worried that those bloody alien foreigners (who are stealing our jobs) will not accept the US dollar when i go out to spent my hard earned dollars at some exotic place where there is suddenly a sign saying: "we only accept gold or renminbi"
C) inflation, inflation, we can always fix the US CPI numbers a bit further, that way no one will notice and the US treasury does not have to pay that much inflation compensation to the brainiac holders of TIPS
That was the last question on Ben's list and with a "thank you, you have been a great help" he hands over a bag that upon further inspection holds a million dollars in freshly printed bills.
Men heeft overigens echt enquêtes rondgestuurd.
De foto is door een Engelse collega ingezonden, die de FED veel te slap vindt met QE2.
Zijn ervaringsdeskundige had de volgende opmerking over QE2:
“There’s nothing wrong with printing money to stimulate your economy and if you disagree I will have you beaten up”
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