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.

연방은행은 외국 국채를 매입할 권한을 가지고 있습니다. 연방은행이 매입할 수 외국 자산군은 미국의 정부부채 보다 몇배나 되기 때문에 이 자산군은 연방정부의 정책운영 범위를 넓힙니다.

- 벤 버냉키

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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.

미달러화의 평가절하와 급격한 통화량 증가는 미국의 디플레이션을 매우 빠르게 종결시켰습니다.

- 벤 버냉키

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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.

중앙정부는 언제나 인플레이션을 유발할 수 있어야 합니다. 단기 명목금리가 0%인 상황에서도. 개인적으로 선호하는 직접적인 방법은 연방은행이 모든 장기 국채의 금리 상한을 발표하는 것입니다.

- 벤 버냉키

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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.

미국 정부는 그 행동과 가까운 정책이 있다하더라도, 닥치는대로 돈을 찍어내지는 않을 것입니다.

- 벤 버냉키

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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).

종이돈 시스템 하에서는 정부는 결심만하면 언제나 높은 소비와 인플레이션을 유발할 수 있습니다.

- 벤 버냉키

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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).

미국 정부는 인쇄라는 기술을 가지고 있습니다. 이 기술은 미국이 비용없이 원하는 만큼의 달러를 찍어낼 수 있도록 합니다.

- 벤 버냉키

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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]

감세는 기본적으로 밀튼 프리드먼의 유명한 "돈을 헬리곱터에서 뿌리기"와 같은 효과를 나타냅니다.

- 벤 버냉키