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 Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)

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silkysand
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PostSubject: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Wed Jan 11, 2012 9:26 pm

Published: Wednesday, 11 Jan 2012 | 5:13 PM ET Text Size
By: Margo D. Beller
Special to CNBC.com

(Follow link below for video coverage)
http://www.cnbc.com/id/45960932

The world's central banks are "printing money like gangbusters," which could revive the threat of inflation , Pimco founder Bill Gross told CNBC Wednesday.



By putting "hundreds of billions" in currency in circulation, the central banks "can produce reflation—that's why we’re seeing the pop in oil, gold" and other commodities, he said in a live interview.

At the same time, "there’s the potential for deflation if the private credit markets can’t produce some sort of confidence and solvency going forward," Gross said. "So we’re at great risk here, not only in the U.S. but on a global basis."

Gross has previously predicted a "paranormal" market in 2012 characterized by "credit and zero-bound interest rate risk" and fewer incentives for lenders to extend credit.

He said stock and bond investors must lower their expectations when it comes to returns, with 2 percent to 5 percent as good as they get this year.



He also told CNBC he expects the Federal Reserve will keep interest rates "exactly where it is at 25 basis points for the next three to four years."

Gross's Total Return Fund, the world's largest bond fund, had over $10 billion in outflows in 2011, but Gross stressed the fund "started 2011 at $240 billion and ended it at $244 billion."

He said he will run the Pimco Total Return Fund ETF , which starts March 1, the same way he runs the bond Total Return Fund, adding, "They're twins."

—Reuters contributed to this report.
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PostSubject: Re: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Wed Jan 11, 2012 9:34 pm

I don't see how continuing to expand the the money supply would cause the oil and gold bubble to pop. Would it not cause a continued inflation of the currencies, in return causing the prices to climb?
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PostSubject: Re: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Wed Jan 11, 2012 9:40 pm

I didn't know this but.....

Reflation, which can be considered a form of inflation (increase in the price level), is contrasted with inflation (narrowly speaking) in that "bad" inflation is inflation above the long-term trend line, while reflation is a recovery of the price level when it has fallen below the trend line.

copied from wikipedia http://en.wikipedia.org/wiki/Reflation

but oil and gold have not fallen bellow the trend line they have been way above. Thus the bubble. Right? or am I reading this wrong?
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PostSubject: Re: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Thu Jan 12, 2012 4:44 pm

It would seem that biggest offender is the US.

http://www.washingtonpost.com/politics/congress/obama-asks-congress-for-12-trillion-increase-in-nations-borrowing-limit/2012/01/12/gIQA7QT7tP_story.html

Obama asks Congress for $1.2 trillion increase in nation’s borrowing limit

By Associated Press,
WASHINGTON — President Barack Obama asked Congress Thursday for another $1.2 trillion increase in the nation’s debt limit, a request that is largely a formality but which carries election-year implications.
It was the third and final such request the president was allowed under a deal the White House reached with lawmakers in August to prevent a government default.

Congress has 15 days to reject the president’s request. Majority House Republicans, eager to criticize the president’s spending policies, immediately announced they would hold a vote next week on a resolution of disapproval.

But such a resolution would not clear the Democratic-led Senate, and the White House says Obama would veto an objection, anyway, in order to avoid default.
Obama originally planned to make this request in December, but with Congress on vacation until mid-January, lawmakers asked the president to delay his request so they could vote on the matter when they returned.

“Washington’s mounting debt is a drag on our economic recovery, and this request is another reminder that the president has consistently punted on the tough choices needed to rein in the deficit and protect important programs for American seniors from going bankrupt,” said Brendan Buck, spokesman for House Speaker John Boehner, R-Ohio.
The increase would boost the debt limit to $16.4 trillion, which should be enough to allow the government to keep borrowing until the end of 2012, or just after the presidential election.

The debt limit is the amount the government can borrow to finance its operations. It has soared because the government has run record deficits over the past decade. In August, Congress and the administration agreed to raise the borrowing limit by $2.1 trillion in three steps. The deal was reached hours before a potential default on the nation’s debt.
Congress agreed to raise the debt limit by $400 billion in August and by another $500 billion in September.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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PostSubject: Re: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Thu Jan 12, 2012 4:46 pm

Why would Pres O be asking for this if the US hold trillion of dinar if it was RVing soon ??
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PostSubject: Re: Central Banks 'Printing Money Like Gangbusters': Gross (CNBC/Reuters)   Thu Jan 12, 2012 4:48 pm

To the good folks in DC, enough is never enough.

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