This earned 'Helicopter Ben
' moniker for Bernanke, who became US Fed Chairman in 2006.
And those who refer to present Fed Chairman Bernanke as "Helicopter Ben
" are already calling his nominated successor "Helicopter Janet." They are referring to when Bernanke quoted Milton Friedman about using a "helicopter drop" of money into the economy to fight deflation; and also to his note that "people know that inflation erodes the real value of the government debt and, therefore, that it is in the interest of the government to create some inflation."
These economies, including Turkey's -- which has one the highest current account deficits relative to GDP in the world benefited from short-term capital inflows during the previous period, when almost $3 trillion was scattered by "helicopter Ben
" (as Fed Chairman Ben Bernanke is called by his critics) over the American banking system.
Is the US, with the PCE at only 1.1%, real rates for Uncle Sam debt across the yield curve have actually risen, hence the Helicopter Ben
angst in the FOMC.
Ben Bernanke, chairman of The Fed (the US central bank), who is nicknamed "Helicopter Ben
" because of his association with the policy of printing money, backs the concept of putting more cash into the economy.
I believe the Fear Trade will continue buying not only gold but also gold stocks, as the group is driven by (http://www.usfunds.com/investor-resources/frank-talk/how-helicopter-ben-helps-jobs-and-inadvertently-gold/#.UIr5S1KJlI4) Helicopter Ben
's quantitative easing program .
is now supersonic Ben, with his $2.9 trillion money gifts.
The dollar tanked against the euro as the 10.2 per cent October jobless rate horrified the gnomes of the FX bazaar, who now believed that Helicopter Ben
and the eminence crises of the FOMC conclave would act as the Eomommy dearestEo of Wall Street, the lenders, insurers, guarantors and fantasy weavers of the last resort.
"Most troubling is the fact that Ben Bernanke was a chief advocate of easy money in the Greenspan-led Fed, earning the nickname Helicopter Ben
for his threat to throw cash from helicopters to boost spending," said Browne.
showering Wall St with billions of freshly printed bucks should drive the value down, but it's up.
That speech earned Bernanke the sobriquet "Helicopter Ben
" for its casual endorsement of the idea--originally suggested in a sarcastic comment by Milton Friedman--that the Fed and federal government could stave off deflation by printing bales of money and dropping them randomly from helicopters.
Most traders this morning are sitting on their hands waiting for Helicopter Ben
Bernanke to release their minutes from the last FED meeting which took place on April 27<sup>th</sup>. April 27<sup>th</sup> also marked the day that Chairman Bernanke gave the first unprecedented press conference by a FED chairman after deciding on interest rates.