Federal Reserve President: ‘QE Was A Massive Gift Intended To Boost Wealth’

So sayeth Richard W. Fisher, President and CEO of the Federal Reserve Bank of Dallas, according to Tyler Durnden writing at Zero Hedge:

With Bernanke gone, the remaining Fed members knowing full well they will be crucified, metaphorically of course (if not literally) when it all inevitably comes crashing down, are finally at liberty with their words… and the truth is bleeding out courtesy of the president of the Dallas Fed, via Bloomberg.

FISHER SAYS QE WAS A MASSIVE GIFT INTENDED TO BOOST WEALTH
Which incidentally coincides with Bernanke’s heartfelt “admission” that “my natural inclinations, even if it weren’t for the legal mandate, would be to try to help the average person.” As long as helped to boost the wealth of the non-average billionaire., all is forgiven. “The result was there are still many people after the crisis who still feel that it was unfair that some companies got helped and small banks and small business and average families didn’t get direct help,” Bernanke said. “It’s a hard perception to break.” The truth, as again revealed by Fisher, will not help with breaking that perception.

We wonder how President Obama, that crusader for fairness, equality and all time Russell 200,000 highs, will feel about that? In the meantime, just like the Herp, QE is the gift that keeps on giving.. and giving… and giving… to the 0.001%…

Perhaps the most revealing part of the story is this chart, attributed to Bloomberg:

QE effect on shoppers

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  • Cortacespedes

    “Perhaps the most revealing part of the story is this chart, attributed to Bloomberg:”

    Are we to assume that Tiffany’s, Coach and LVMH represent the upper classes whilst Macy’s, Kohl’s and J.C.P represent the middle income “common man”?

    I don’t think I could afford any of them and I am about as “common” as you can be.

    I do take “solace” in the fact that many a Tijuana tianguis is swimming in Louis Vuitton, Rolex and Gucci. Please don’t call them “counterfeit” as I am sure the same hands that made them are the same ones who produce the so called “bona fide” product.

    Well, we should perhaps give the rich what they want; a “dignified”(traditionally blue-blood) and designer end.

    Monogrammed Hermès’s “headcatchers” optional.

    • makayli verran

      my Aunty Sienna recently got a year old Jaguar only from
      working off a home computer… Recommended Reading C­a­s­h­D­u­t­i­e­s­.­ℂ­o­m

      • http://americancannibal.org/ American Cannibal

        Yo, I want that guillotine. Ya Aunty get that for me? I gotta chop some heads off in dey flash crash. April, you heard? you get delivery by April, Cash Doody? Holla at yo boy.

  • Oginikwe

    “With Bernanke gone, the remaining Fed members knowing full well they
    will be crucified, metaphorically of course (if not literally). . .”

    I’d pay big money to watch if they did it literally, bring the banksters, too. The MSM would make big bucks as we all tuned in to watch–I’d even restart television just to see that. While revenge can never be sated, it can be damn satisfying.

  • http://americancannibal.org/ American Cannibal

    Sell High/Buy Low

  • trompe l’oiel

    There is nothing more humanitarian on this planet than generating a paradigm of debt induced slavery and false scarcity. These people are saints, anyone who disagrees is a commie.

    • http://americancannibal.org/ American Cannibal

      Agreed.

      • trompe l’oiel

        ahhhh…. greed.

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