IS THE 40% DOLLAR DEVALUATION  COMING?
IN A 2002 SPEECH GIVEN BY BEN BERNANKE HE DESCRIBED WHAT HE WOULD DO IF CONFRONTED WITH A DEPRESSION

1. If I am every faced with a depression, I will lower the interest rates to zero.
(Done… or close enough. The last time I checked the interest rate was about one quarter of a percent… pretty much zero!)

2. I will buy securities from the bank to expand the Federal Balance Sheets.
(Done… The Fed’s assets are comprised of a variety of financial instruments including government bonds, corporate bonds, mortgage-backed securities, etc. On the liabilities side, the Fed holds money in circulation and reserves (money that commercial banks are required to set aside with the Central Bank). By “printing money” ex nihilo (literally out of nothing) money supply increases and the Fed’s liabilities rise. However, the Fed now has the funds to go to the open market and purchase more financial securities from commercial banks, thereby increasing its assets (so that total assets still equals total liabilities). This is the mechanism by which the Fed “expands its balance sheet.” )

3. I will increase the money supply.

(Done… qe1, qe2, qe3, etc! He’s had the printing press running full steam for the last 4 years at least. Numerous secret injections of funny money have been put into the market to keep it from crashing. 

4. I will buy our countries’ debt.

(Done… the Fed’s have been secretly buying their own bonds and treasury notes for the last year now as China and the rest the world wised up and stopped buying our debt)

5. I will devalue the dollar by 40%.
(NOT DONE… Yet!)
READ ENTIRE SPEECH