Bet On The Future Of Bernanke

Intrade is kind of like an online gambling establishment, but not quite. It uses speculation on events in order to predict their occurrence.

Zero Hedge reports:

Feeling like the economy is not the only thing that has taken a dump for the worse? Harboring a nagging suspicion that the Chairman’s chances to continue presiding over the free world with a Hewlett Packardian fist may have taken a bit of a hit, and his Wall Street overlords are starting to consider pulling a Hudsucker Proxy and replacing him with Mark Zandi? If so, InTrade has you covered. As of today, you have the chance to bet that the mutant second coming of Rudolph von Havenstein and Gideon Gono will be shown the door, either voluntarily or not, by the end of 2011. In some ways this is perfect way to hedge one’s precious metal, stock market, and rates bets, since the entire fate of capital markets continues to rest squarely on the Chairman’s shoulders. We wonder how long before Goldman securitizes this InTrade contract and sells the equity tranche to idiot European and Korean money managers…

Wager that Ben Bernanke to no longer be Chairman of the Federal Reserve before midnight ET 31 Dec 2011

I think he’s going to remain in place because he has demonstrated a willingness to print money until the currency becomes defunct.

Since this type of a default benefits those in power the most, we should expect to see the Charistan remain in power until the bitter end.