I always believe this is the guy that brings the US stock market back from her death in 2009 due to subprime mortgage crisis! I always believe if not for him, we would most likely have a double dip recession like THE GREAT DEPRESSION in 1929.
It is amazing that in 2002, he already advocated printing continuous money as a solution to recessions like 1929 Great Depression and 2001 Internet Bubble burst.
Below is what he said in 2002:
"In 2002, following coverage of concerns about deflation in the business news, Bernanke gave a speech about the topic. In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money and to maintain market liquidity. Control of the money supply implies that the government can always avoid deflation by simply issuing more money. He said "The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost."
I am sure in years to come, he will be remembered as the VISIONARY.
If you want to know more about the bull and bear market psychological cycles, please watch our website www.danielloh.com to check out the Free seminars for next year!
Below is what he said in 2002:
"In 2002, following coverage of concerns about deflation in the business news, Bernanke gave a speech about the topic. In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money and to maintain market liquidity. Control of the money supply implies that the government can always avoid deflation by simply issuing more money. He said "The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost."
I am sure in years to come, he will be remembered as the VISIONARY.
If you want to know more about the bull and bear market psychological cycles, please watch our website www.danielloh.com to check out the Free seminars for next year!
I will be starting my holidays soon.... next year, till we meet!
Below is marketwatch interview with him on the recent interest rates issues...
Merry Christmas!
Daniel
