Doug Noland - Thoughts on the Electronic Printing Press

``The Fed and global bankers should never have become such active players in the financial markets. Asset inflation is indeed more dangerous than consumer price inflation. Central banks will actively support asset prices, while refusing to remove the punchbowl. At all costs, Chairman Bernanke will avoid being a Bubble Popper. And when you read his comments from Friday morning (below), keep in mind that as Bubbles become more systemic they actually become less conspicuous. Today, Bubbles proliferate throughout the securities and asset markets. It's all become one big historic global Bubble. Yet the Bernanke Fed won't even begin tapering its $85bn monthly "money printing" operation in the midst of increasingly conspicuous market excesses. ''