Bernanke on helicopter money

http://www.themoneyillusion.com/?p=31617

Ben Bernanke has done a series of posts on what central banks can do at the zero bound. His first post looked at negative IOR, and the second examined targeting long-term interest rates.  Of course Bernanke has also advocated the use of QE. Now he looks at the helicopter drop option. Bernanke agrees with my view that helicopter money should be used as a last resort.  Where we may differ slightly is how many options need to be tried before reaching that point.
In my view, it’s too soon to jump to helicopter money, just because the techniques mentioned by Bernanke have been exhausted.  I recall Bernanke once arguing that the inflation target might have to be raised if there was a danger of hitting the zero bound, but he doesn’t mention that here. In my view there are many alternatives that we’d need to run through before considering helicopter drops, such as a higher inflation target, or price level targeting, or better yet NGDPLT.  I’d also want to go beyond T-bond purchases, to the purchase of other assets.  Thus creation of a sovereign wealth fund would be far superior to helicopter drops.
For some reason Bernanke doesn’t consider those alternatives, perhaps because he doesn’t think they would be needed: