If Bernanke stops QE, he fulfills his role as an independent central banker. Presumably, that action stops the decline in the dollar and reduces the risk of future inflation. It was the course that Paul Volcker chose in the late 1970s. Volcker's action was bold, highly controversial, and highly criticized. Volcker's action had the support of President Reagan, who was willing to face short-term unpopularity to fix the economy. Bernanke's task is harder than Volcker's. Volcker stopped the economy dead in its tracks. If Bernanke ends QE, he will stop both the economy and the federal government dead in their tracks.Without QE, the government will be unable to honor its obligations. Non-payment of Social Security or Medicare or federal payroll or welfare checks or retirement checks, or military payroll, etc., etc., would show up almost immediately. That would jeopardize foreign (and domestic) purchases of additional federal debt, exacerbating the problem. Bernanke's second option enables the government to continue operating irresponsibly until market forces eventually stop the profligate behavior. Market discipline would likely be imposed in the form of a collapse of the dollar or raging inflation (or both). Under either scenario, the Obama presidency is destroyed.