Bernanke rate Oxymoron: 0% Rates Needed for Market Recovery
Of course, it is the way to steal wealth from many around the world by "Freezing" the fund circulation by the greenspan gang short funds - e.g. greenspan/paulson colluded funds with big hedge funds.
Super money and power is stealing wealth from many around the world over the decades -- savings, home equities, and now the final 401k nest eggs.
Bernanke is playing "DUMB" doing not-much compared to the financial melt down to steal money using short gang, obviously. BIG IDEA - BIG ROBBERY of AMERICANS, US, and many around the world using financial boom/bust theories and money machine turn on/off.
Big Idea - NWO - e.g. 911 and Bailout scam
First, it was 911 terror, and now, it is financial terror.
May God deliver US from the evil power.
0% Rates Needed for Market Recovery: Strategist
INTEREST RATES, ECONOMY, US, EUROPE, JAPAN
| 17 Oct 2008 | 07:59 AM ET
U.S., European and Japanese interest rates need to be slashed to practically zero if there's any chance of a market recovery, Roger Nightingale, strategist at Pointon York, told CNBC Friday.
"I'm not talking about 50 basis points … we really have to take rates down to effectively zero," Nightingale said, pointing out that U.S. rates "got down to one percent in the last recession and that wasn't a bad one."
"The Europeans have to go to zero, the Brits have to go very close to zero, the Japanese of course haven't got much room, they certainly have to go to zero," Nightingale said, adding that even zero might not be low enough for the U.S. to escape a deep, protracted slump.
Many of the world's major central banks cut their base rates by 50 basis points last week in a coordinated move. The cuts were designed to help the global economy deal with the fallout from the credit crisis, but stock markets have remained highly volatile since then.
(Watch Nightingale's views on the government bailout plans above).
A base rate near to zero would help start a recovery in the bond market and ultimately in equities as well, Nightingale said.
If central banks leave it too long before cutting rates, they will be too late, according to Nightingale, who citied the protracted recession in Japan during the 1990s as an example of how bad things could get.
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