"And now Ben Bernanke, as is promised by 'targeting inflation' and heralded by the spooky sound of ravenous wolves howling in the distance and getting closer and closer, is going to bury us in price inflation and destroy us all, but that is the only thing he can do, as there is literally nothing he can do, for if there was, someone else in all of history would have thought of it, and tried it, when their stupid experiments with fiat currencies destroyed them, and believe me when I tell you that they tried everything, and they all failed. ... 'Stephen Cecchetti, professor of international economics at Brandeis University, and a former research director at the New York Fed', ... said, 'Nothing leads me to suggest that there's an inflationary pass-through from dollar depreciation.' Hahahahha!," The Mogambo Guru at http://www.gold-eagle.com/, 27 November.
I agree. Helicopter Ben's raining money down on the banks did not address the problem: what are the bank's assets worth? The models will be revealed to be optimistic to say the least.
I read Cecchetti's piece at http://www.voxeu.org/, 26 November, and thought it preposterous. It was so preposterous, I didn't think it worthy of comment.