Finance·Money, Ben Bernanke

The Fed has the authority to buy foreign government debt ... this class of assets offers huge scope for Fed operations because the quantity of foreign assets eligible for purchase by the Fed is several times the stock of U.S. government debt.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (6) Execute a de facto depreciation by buying foreign currencies on a massive scale.

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Finance·Money, Ben Bernanke

This devaluation and the rapid increase in money supply ... ended the U.S. deflation remarkably quickly.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (5) Depreciate the U.S. dollar. Referring to U.S Monetary Policy in the 1930s under Franklin Roosevelt, he states that.

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Finance·Money, Ben Bernanke

A central bank should always be able to generate inflation, even when the short-term nominal interest rate is zero ...[this] more direct method, which I personally prefer, would be for the Fed to announce ceilings for yields on all longer-maturity Treasury debt.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (3) Lower interest rates – all the way down to 0 per cent.

Bernanke observed that people have traditionally thought that, when the funds rate hits zero, the Federal Reserve will have run out of ammunition. However, by imposing yields paid by long-term Treasury Bonds.

He noted that Fed had successfully engaged in "bond-price pegging" following the Second World War.

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Finance·Money, Ben Bernanke

The U.S. government is not going to print money and distribute it willy-nilly ... although there are policies that approximate this behavior.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (2) Ensure liquidity makes its way into the financial system through a variety of measures.

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Finance·Money, Ben Bernanke

Under a paper-money system, a determined government can always generate higher spending and, hence, positive inflation.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (1) Increase the money supply (M1 and M2).

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Finance·Money, Ben Bernanke

The U.S. government has a technology, called a printing press, that allows it to produce as many U.S. dollars as it wishes at no cost.

- Ben Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002

Bernanke doctrine (1) Increase the money supply (M1 and M2).

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http://en.wikipedia.org/wiki/Bernanke_doctrine
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
http://finclip.blogspot.com/2002/11/remarks-by-governor-ben-s-bernanke.html

Economy, Ben Bernanke

A money-financed tax cut is essentially equivalent to Milton Friedman's famous "helicopter drop" of money.

- Ben Bernanke, [Remarks by Governor Ben S. Bernanke, Before the National Economists Club, Washington, D.C., November 21, 2002]