Thursday, June 2, 2011

Michael Pento: QE3 is Inevitable

Michael Pento is Senior Economist at Euro Pacific Capital. He has daily economic blog "Pentonomics" : Bernanke is on record saying that he could stop inflation without a doubt one hundred percent all he has to do is sell all those assets , what will happen when he start dumping mortgage backed securities he got 1.8 trillion dollars of mortgage backed securities and GSE debt , what happened to the value of that debt , guess what the balance sheet would run so fast that he would not have any assets left to sell and the money will be left in perpetuity in the system , so he is laughing , he cannot aggressively drain his balance sheet period end of the story , says Pento ...

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