You hear it all the time, maybe even every day: the Fed’s never-ending quantitative easing program led by $85 billion per month in asset purchases, will eventually cause hyperinflation.

This will eventually lead to a devaluation of the dollar, skyrocketing prices for everyday goods, and death, destruction and doom of all kinds. Some very smart people subscribe to this, including many that WSO admires: Peter Schiff. Jim Rogers. Kyle Bass.

But here’s what’s probably driving them all nuts: despite no signs of letup from the Fed, inflation remains quite historically low, well within the 2% y/y benchmark sought by that institution.

With the markets on the edge of their seats in anticipation of the recent announcement of QE3 by the FED, it begs the question, should we really be getting more monetary stimulation?

While evidence demonstrates that the government bailout prevented a full fledged financial meltdown, the actual quantitative easing has not managed to stimulate anything more than a tepid, if not feeble, economic resurgence.

Small businesses remain crowded out while the big boys freeze or slow hiring until both the economic and regulatory environments become more appealing.

Lord knows we love our quantitative easing here in the good old U.S. of A., so why should Europe be any different? Or so went the thinking yesterday when the ECB opened a credit facility that quickly reached the level of our original TARP scheme. Now it looks like the Euro is in for the same drubbing the dollar took. BNY Mellon's Simon Derrick explains that the only way to pay for this new QE is to print more money. Europe becomes more American by the day:

It is only well after the smoke clears that we begin to see what actually caused the fire. In the case of Rupert Murdoch, his Bizzaro Wikileaks approach to journalism is a pretty safe bet to be the eventual culprit. Murdoch’s always been known for tough tactics and though he never ran an investment bank, is as powerful a Wall Street player as there is. Some would argue as there has ever been.

This is precisely why his likely downfall, will have a far further reaching scope than Murdoch and Newscorp. As our friends over at Mindfulmoney.com ask, has media investing changed forever.

Slowly but surely we step towards our day of reckoning. In just over a month, the Federal Reserve will end its bond buying program popularly known as QE2 or what many of us skeptics have likened it to, using a tiny band aid to qwell a huge hemorrhage. Depending on which side of the isle you stand, you may love or hate the Federal Reserve’s policy of quantitative easing.

Investors are certainly grateful to Bernanke and company for the near two year bull market, which has seen major market players (those that survived, that is)recover from the depths of the crisis. Many critics, however, have been vocal about the structural damage that the Fed’s debt expansion policies have done to the system long term. The question we face now is, will there be a QE3?

Sorry to deviate from Man Week, but the guy who gave you the Ben Bernank is at it again... and it’s gold.

I usually read Zero Hedge’s gloom and doom commentary with a grain of salt but this recent post really caught my eye.

George Washington argues that war is upon us, thanks to another round of Military Keynesianism and quite frankly, it doesn’t seem that far off to me.

Look at the posts on WSO alone; killings in Saudi Arabia, $220 oil, suicide, and grave views on the macro front.

In the news Qaddafi’s bombing the shit out of people and the U.S., France, and others are already in talks to support the rebels.

Turmoil, anarchy, and anger have now blanketed the Earth. Governments have been toppled; inflation is setting up widespread hunger and the world’s economies, especially that of the US, are feared to be unsustainable.

Is war on the horizon?

To mask QE3?

The Ben Bernank’s second dose of quantitative easing has been this month’s hot topic on Wall Street, with countless luminaries from across the globe flooding the internet, television, and even radio waves to voice their opinions on the matter.

Some of it was praise and adulation for the Ben Bernank, but unlike sheep our own resident badasses; Uncle Eddie and Midas, have espoused its stupidity in the premiere episode of NSFW.

And they’re not the only ones.

Their fellow badasses Paul Tudor Jones, Steve Schwarzman, Bill Gross, David Einhorn, and Jim Rogers have all spoken openly against the Ben Bernank’s policy of inflation, citing the inherent danger of it creating more problems than actually fixing them.

But what is it really?

Once in a rare while a topic comes up on WSO that I feel is truly blog worthy. In this particular case for no better reason than the collision of reality and perception...mine, that is. Obviously, the news of the week is the Fed's $600 billion Treasury spending spree. Reading over this topic, which was anything but serious, got me to pondering some major life issues. How trapped can we get in our own vacuum and how much does it to snap us out?

In an interview with CNBC on Thursday, hedge fund elder statesman and father of Tiger Balm, Julian Robertson, shared his thoughts on the Critical Topics of the Day, including the recent elections, quantitative easing, and most importantly: fat people. Read the full interview transcript here, or fast forward to about 6:30 for Fat Talk.

There's no fooling Robertson. He sees you there, mayonnaise flecking your third chin, reaching after that fallen french fry like some sort of beached Manatee. Robertson has his eye on the ball, always has, always will, so when he's of the opinion that winning a fight against American obesity could add $1 trillion to the GDP, you open your fat ears and listen.

Funny that Midas mentioned the 1997 Asian crisis in his post today, because I think we’ll be seeing it happen again quite soon.

I was discussing gold with Frieds (ask him about his Playboy story by the way) last week and, thinking on the consequences of a Fed clusterfuck, noticed something that has taken second fiddle to gold and the currency wars.

The growing Asian bubble.

Living up to your own prophecy. It can be a daunting task. Sometimes in life we build our identity around a premise, what do we do when that premise takes us to task?

That's my question for Ben Bernanke whether he hears me or not.

There is no doubt that a hundred years from now when a new generation of monkeys looks back upon what we call "today", it will be the current Federal Reserve Chairman as the target in the cross-hairs of their focus.

The world currency war. I like how that sounds. Are there any nations that still use hard currency? If so, I've got them in the office pool.

In my experience, many Fiats fighting can equal one classic Yugo and nobody needs that in their driveway.

Yesterday's fiery speech by Guido Mantega, the Brazilian Finance Minister to a forum of industrial leaders , addressed an important issue in world finance which is rapidly playing out before our eyes.