{"id":863,"date":"2011-03-02T14:38:22","date_gmt":"2011-03-02T14:38:22","guid":{"rendered":"http:\/\/gold-silver.biz\/sk\/?p=863"},"modified":"2011-03-04T21:56:12","modified_gmt":"2011-03-04T21:56:12","slug":"bernanke-vymyva-mozgy-komentar","status":"publish","type":"post","link":"https:\/\/investicnyblog.sk\/gsi\/sk\/bernanke-vymyva-mozgy-komentar\/","title":{"rendered":"Bernanke vym\u00fdva mozgy (koment\u00e1r)"},"content":{"rendered":"

Fed vymyslel neidentifikovan\u00fd mechanizmus, ako pomocou po\u010d\u00edta\u010dov a \u010d\u00edsiel v\u0161etko zvr\u00e1ti\u0165.<\/strong><\/p>\n

\"BenZ \u010dasu na \u010das sa \u010dlovek zastav\u00ed. Na\u010do sa ob\u00e1va\u0165 bud\u00facnosti, ve\u010f mnoho probl\u00e9mov sa naozaj d\u00e1 vyrie\u0161i\u0165 za ve\u013emi kr\u00e1tky \u010das? A celkom bezbolestne.\u00a0\u00a0Sta\u010d\u00ed p\u00e1r zasadan\u00ed Fedu a vl\u00e1dy a prija\u0165 p\u00e1r z\u00e1konov a mnoho nerie\u0161ite\u013en\u00fdch probl\u00e9mov zmizne. Nem\u00e1me sa \u010doho ob\u00e1va\u0165. Pr\u00e1ve preto n\u00e1m neu\u0161kod\u00ed, ak si zrekapitulujeme, ak\u00e9 \u00faspechy maj\u00fa vl\u00e1dy a monet\u00e1rne autority za sebou za posledn\u00e9 tri roky.<\/p>\n

\u013dudia sadli na lep<\/strong><\/p>\n

<\/strong>Napr\u00edklad kedysi si \u013eudia mysleli, \u017ee ceny domov m\u00f4\u017eu len r\u00e1s\u0165. Banky si to mysleli tie\u017e. Preto po\u017ei\u010diavali ka\u017ed\u00e9mu, napr\u00edklad jedn\u00e9mu zbera\u010dovi jah\u00f4d dali 700-tis\u00edcov\u00fa hypot\u00e9ku. Ro\u010dne v\u0161ak zarobil iba okolo 14-tis\u00edc dol\u00e1rov. P\u00e1r \u013eu\u010fom to bolo \u010dudn\u00e9, ale to boli v\u0161etko \u010dud\u00e1ci, alebo ak\u00fdsi teoretick\u00ed ekon\u00f3movia. A my sa predsa z teoretick\u00fdch re\u010d\u00ed nikdy nenajeme. Banky potom spravili z t\u00fdchto hypot\u00e9k bal\u00ed\u010dky. Nikto nevedel \u010do v nich je, ale koho by to tr\u00e1pilo, ve\u010f ceny domov mali iba r\u00e1s\u0165. Zrazu padli. V\u0161etci spanik\u00e1rili. Prepadli sme sa do depresie a v\u0161etci si zrazu mysleli, \u017ee ceny domov u\u017e asi nikdy nebud\u00fa ako predt\u00fdm. \u013dudia vyberali peniaze z b\u00e1nk. V\u0161etko\u00a0vyzeralo\u00a0na krach.<\/p>\n

Ale potom z ni\u010doho ni\u010d, FED vymyslel doteraz neidentifikovan\u00fd mechanizmus, ako\u00a0pomocou\u00a0po\u010d\u00edta\u010dov a \u010d\u00edsiel v\u0161etko zvr\u00e1ti\u0165. A \u013eudia mu okam\u017eite sadli na lep, v\u0161ak sme v tis\u00edcro\u010d\u00ed po\u010d\u00edta\u010dov a modern\u00fdch technol\u00f3gi\u00ed. Ve\u010f predsa ke\u010f to rastie, tak to rastie. Nem\u00f4\u017eeme predsa spochyb\u0148ova\u0165 \u0161tatistiky a nie to e\u0161te \u013eud\u00ed, ktor\u00ed rozhoduj\u00fa o\u00a0tom, ko\u013eko pe\u0148az\u00ed bude beha\u0165 v obehu. Vl\u00e1dy si vyd\u00fdchli. P\u00e1r bankrotov im predsa aj tak narobilo dos\u0165 probl\u00e9mov. Ale podarilo sa im preda\u0165 v\u0161etko zn\u00e1rodnen\u00e9 so \u201eziskom\u201c. Tak \u010do im e\u0161te vyt\u00fdka\u0165?<\/p>\n

„Bernanke na to m\u00e1“<\/strong><\/p>\n

<\/strong>V\u0161etko sa zabezpe\u010dilo. Banky boli zabezpe\u010den\u00e9 vl\u00e1dnymi financiami. A fungovalo to dokonca aj vtedy, ak boli vl\u00e1dne financie takmer v bankrote. Ka\u017ed\u00fd si toti\u017e vymenil p\u00e1r \u010d\u00edsiel medzi n\u00e1rodn\u00fdmi centr\u00e1lnymi bankami. Swap sem – swap tam, ak\u00fd probl\u00e9m s\u00a0likviditou? Banky predsa nem\u00f4\u017eu bankrotova\u0165, sn\u00e1\u010f nie sme v\u00a0stredoveku?<\/p>\n

\u013dudia s\u00edce u\u017e p\u00e1r rokov nevedia n\u00e1js\u0165 pr\u00e1cu, ale tak to u\u017e dnes tie\u017e netreba. Soci\u00e1lny syst\u00e9m predsa nie je pre z\u00e1bavu, tak\u017ee kto m\u00e1 probl\u00e9m, d\u00e1vku ur\u010dite dostane. Okrem nieko\u013ek\u00fdch \u013eud\u00ed, ale to s\u00fa asoci\u00e1li a t\u00ed si u\u017e za svoj osud m\u00f4\u017eu sami. Nevad\u00ed, \u017ee u\u017e pracuje v pomere k\u00a0star\u0161ej popul\u00e1ci\u00ed iba zop\u00e1r \u013eud\u00ed. To nevad\u00ed. Zo \u0161tatist\u00edk a demografie sa predsa e\u0161te nikdy nikto nenajedol. Proste ak treba, peniaze sa n\u00e1jdu.<\/p>\n

To, \u017ee tieto magick\u00e9 postupy vraj vyvol\u00e1vaj\u00fa infl\u00e1ciu, je inak tie\u017e u\u017e „otrepan\u00e9“. Ja \u017eiadnu infl\u00e1ciu nevid\u00edm. Ve\u010f Bernanke povedal, \u017ee za 15 min\u00fat dok\u00e1\u017ee zv\u00fd\u0161i\u0165 \u00farokov\u00e9 sadzby. A t\u00fdm p\u00e1dom aj\u00a0rozhodnutia\u00a0investorov na nieko\u013eko rokov… on na to m\u00e1. Ve\u010f kto in\u00fd, ak nie on, m\u00f4\u017ee lep\u0161ie vedie\u0165 \u010do robi\u0165? Jeho akademick\u00fd v\u00fdskum sa s\u00fastre\u010foval pr\u00e1ve na Ve\u013ek\u00fa hospod\u00e1rsku depresiu minul\u00e9ho storo\u010dia. Dokonca s\u00fa niektor\u00e9 z\u00e1ujmov\u00e9 skupiny tak\u00e9 \u0161kodn\u00e9, \u017ee \u017eiadaj\u00fa od Fedu aby vykonal audit. Ja sa tomu \u010dudujem. Ve\u010f nesta\u010dil jeden audit pred 50 rokmi? Netreba predsa mrha\u0165 \u010dasom.<\/p>\n

Val proti \u0161pekulantom<\/span><\/strong><\/p>\n

<\/span><\/strong>Aj tak po tom volaj\u00fa hlavne bl\u00e1zni nakupuj\u00faci zlato, ako keby sa bl\u00ed\u017eila nejak\u00e1 pohroma. T\u00ed \u013eudia ur\u010dite zaspali dobu. Sn\u00e1\u010f si nemyslia, \u017ee budeme chodi\u0165 znova s me\u0161cami na boku? Ale nevad\u00ed, aj ke\u010f im v\u00f4bec nerozumiem, tak je potrebn\u00e9 ich tro\u0161ku pou\u010di\u0165. Pr\u00e1ve preto sa sem tam dej\u00fa veci, v priebehu p\u00e1r dn\u00ed prudko pad\u00e1 cena zlata aj striebra, niekedy pr\u00e1ve vtedy ke\u010f Fed skupuje dlhopisy vyd\u00e1van\u00e9 vl\u00e1dou vlastnej krajiny. Ale \u010do tam po zlate? Hlavne, \u017ee rast\u00fa akcie, s\u00fa nezastavite\u013en\u00e9. Od\u00a0dna\u00a0kr\u00edzy sa zhodnotili u\u017e o 100%. Zase sa \u013eudia stra\u0161ili a ni\u010d sa nestalo.<\/p>\n

Tro\u0161ku n\u00e1s s\u00edce znepokojuje, \u017ee \u0161kodcovia za\u010dali\u00a0hovori\u0165\u00a0o mo\u017enom bankrote niektor\u00fdch kraj\u00edn. A dokonca niektor\u00ed aj o rozpade mien. Vraj m\u00e1me prep\u00fa\u0161\u0165a\u0165 vo verejnom sektore a \u0161etri\u0165. Verejnom, ten \u010do jedin\u00fd chr\u00e1ni to, aby bolo v\u0161etko v poriadku. A pr\u00e1ve preto, \u017ee sa neprep\u00fa\u0161\u0165a vo verejnom sektore, tak je v\u0161etko v poriadku. E\u0161te\u017ee p\u00e1r \u013eud\u00ed m\u00e1 s\u00fadnos\u0165 a nepanik\u00e1ri. Pre istotu sme vymysleli aj nejak\u00fd val. Val proti tomu, aby \u0161pekulanti neohrozovali na\u0161u v\u00fdborn\u00fa finan\u010dn\u00fa situ\u00e1ciu.\u00a0\u00a0Napr\u00edklad sa vytvor\u00ed val krajinami, ktor\u00e9 nemaj\u00fa peniaze na financovanie svojich deficitov. Chvalabohu, nie sme v stredoveku, finan\u010dn\u00fd syst\u00e9m je u\u017e tak sofistikovan\u00fd, \u017ee peniaze sa musia predsa niekde n\u00e1js\u0165. Sn\u00e1\u010f nedost\u00e1vaj\u00fa t\u00ed bank\u00e1ri tie stovky mili\u00f3nov dol\u00e1rov len tak pre ni\u010d za ni\u010d. Musia vedie\u0165, \u010do robia a e\u0161te pritom dok\u00e1\u017eu myslie\u0165 aj na be\u017en\u00fdch \u013eud\u00ed. A aj na politikov a ich kampa\u0148.\u00a0Inak pam\u00e4t\u00e1te si, \u017ee ratingov\u00e9 agent\u00fary boli probl\u00e9m? U\u017e nie s\u00fa. A okrem t\u00fdchto vec\u00ed je v\u0161etko ostatn\u00e9 tie\u017e v poriadku. Long zdrav\u00fd rozum.<\/p>\n

\"brainwash\"<\/p>\n

 <\/p>\n

 <\/p>\n

Autor: Michal Ma\u0165ov\u010d\u00edk, analytik Trim Broker\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Zdroj:finweb.hnonline.sk<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Fed vymyslel neidentifikovan\u00fd mechanizmus, ako pomocou po\u010d\u00edta\u010dov a \u010d\u00edsiel v\u0161etko zvr\u00e1ti\u0165. Z \u010dasu na \u010das sa \u010dlovek zastav\u00ed. Na\u010do sa ob\u00e1va\u0165 bud\u00facnosti, ve\u010f mnoho probl\u00e9mov sa naozaj d\u00e1 vyrie\u0161i\u0165 za … <\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/posts\/863"}],"collection":[{"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/comments?post=863"}],"version-history":[{"count":8,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/posts\/863\/revisions"}],"predecessor-version":[{"id":893,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/posts\/863\/revisions\/893"}],"wp:attachment":[{"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/media?parent=863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/categories?post=863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investicnyblog.sk\/gsi\/sk\/wp-json\/wp\/v2\/tags?post=863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}