Tag Archives: William H. Gross

AmericanKabuki – William H. Gross – Money For Nothin’ – Writing Checks For Free – 30 January 2013

12-1238_Image[Bill Gross is the founder of PIMCO the world’s largest trader of bonds – AK]

It was Milton Friedman, not Ben Bernanke, who first made reference to dropping money from helicopters in order to prevent deflation. Bernanke’s now famous “helicopter speech” in 2002, however, was no less enthusiastically supportive of the concept. In it, he boldly previewed the almost unimaginable policy solutions that would follow the black swan financial meltdown in 2008: policy rates at zero for an extended period of time; expanding the menu of assets that the Fed buys beyond Treasuries; and of course quantitative easing purchases of an almost unlimited amount should they be needed. Continue reading