British Monarchy Deploys to Ram Through Hyperinflationary Bailouts
August 30, 2012 • 10:11AM

The next two weeks will be decisive in the British Monarchy's drive to ram through a new round of deadly hyper-inflationary bailouts of their bankrupt system. It is clear that the policy fight around this is by no means settled.

* August 31: Federal Reserve Chairman Ben Bernanke will speak at Jackson Hole, where some say he will announce a new round of "quantitative easing," or QE3. But Mohamed El-Arian, the CEO of Pimco, the world's largest bond-trading company, said that Bernanke will not provide any new specifics there: "The minutes [of the last FOMC meeting] were consequential, and we don't expect Bernanke to take it further than what the minutes said," according to El-Arian. "It's highly probable that he will outline the options that the Fed has available and the commitment to do more if needed" — but no more than that.

* September 6: The ECB will meet to hear Mario Draghi's presentation of his plan for ECB bond-buying and other novel bailout gambits. An August 28 New York Times article opens by reporting that Draghi, merely by putting the option of bond purchases on the table as a live option, "has helped the euro zone survive the month of August. But can he save September?" In other words, so far Draghi has talked the talk; but next he will have to walk the walk. Will he be able to push the policy through, given German and other opposition?

* September 12: What everyone is waiting for: the German Constitutional Court will meet to issue its finding on the ESM.

* September 12-13: The Fed's FOMC will hold its next meeting, where QE3 will be on the table. Will they pull out the "big bazooka" yet again, this time on the eve of the U.S. elections?