They turned out big time for Fed Chairman Ben Bernanke's speech before the National Press Club in Washington D.C. I counted television cameras from at least 15 different outlets, and just as many still photographers. The Fed has the full text of his prepared remarks here.
Of note, twice Bernanke mentioned September '08. Once during his prepared remarks and once in the Q&A. I believe I have uncovered a serious government panic in September 2008 and you will soon see my full report on what went on during the period and how the government reacted, so it was very interesting to me that Bernanke mentioned this specific period twice.
Of further note, it continues to amaze that Bernanke thinks he will be able to shrink the monetary base, when banks start loaning again."A significant shrinking of the balance sheet can be accomplished relatively quickly," he said.
He clearly has little concern for inflation right now and reemphasized that the Fed will start buying in conjunction with the Treasury, auto loan paper, student loan paper and consumer credit paper.
Thus, as far as I can see it is full steam ahead with the money printing. I think he is trapped, the minute he stops the printing the economy will crash, if he keeps printing the inflation will eventually be Tsunami like.
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