1:1 In the beginning, Ben Bernanke hath said, let there be liquidity.
1:2 And so didst the Federal Reserve reduce the cost of money to zero, and increase its balance sheet four-fold, buying one third
of the US Treasury market.
1:3 And for one thousand days and seven hundred, so didst the Federal Reserve keep short term interest rates at zero, depriving
the moneylenders of their profit.
1:4 The cheapness of money made all the stocks in the land, whether beast or fowl, look attractive to the people. And so didst
the equity markets rise by 100% since December 2008, bringing joy to all investors who hath owned them.
1:5 And when the people studied prior recessions and recoveries, they discovered that the stock market’s current rise could not
be fully explained by improvements in corporate profits, manufacturing surveys, interest rates and inflation, as in the past. They
believed that a higher power hath watched over them.
1:6 And so each among them sayeth the following benediction: “May the Fed bless you and keep you; may the Fed extend its
balance sheet to shine upon you; and may the Fed lift up asset prices and protect you from harm”.
(copiado, sem autorização, do Eye on the Market)