print“The Fed,” reports Bloomberg.com, “will buy about $18 billion of Treasury securities and Treasury Inflation-Protected Securities through mid-September in the first month of purchases …”
We’re printing money to buy up our debt, because China and our other debtors won’t. Why is no one but Beck alerting our comatose countrymen to this indicator of bankruptcy, moral and material?
We are supposed to take comfort in the fact that, “While the move shows a change in policy direction away from exiting monetary stimulus, the Fed didn’t indicate it was ready to pursue larger-scale purchases of securities.”
Change in direction? How so? The policy of easy credit will continue apace, except that the Fed will be counterfeiting the country’s coin to pay down the government’s stratospheric debt. Let a private citizen try that trick. See where it’ll land him.
This policy may well be the last step you see before the bond panic commences. The Fed is pushing on a string, trying to make the government the Consumer Of Last Resort in order to “Stimulate” the economy.
The minute bondholders around the world begin to realize the Fed is printing money, they’ll begin selling (faster than they already are). The danger is that the trickle could turn to a flood, and our dollar could then be wiped out very, very quickly.
I hope everyone reading this is making preparations. Better to be prepared and not have it happen than to be unprepared.
Yep. Is anyone the least bit surprised by this latest development?
I bought more gold and silver today in anticipation of the coming devaluation of those putrid Federal Reserve Notes everyone has to use on penalty of fine, imprisonment, or death. We can thank the evil legal tender laws for that.
A second safe is being delivered, too. Never trust the banks and their
(un)safe deposit boxes. See FDR’s 1933 gold confiscation for details.
And there are more precious metal coins stored outside the country – just in case.
I’m getting prepared. Are you?
Let’s see now; We’re buying our own debt with money we don’t have. Yes siree that’s the way to go. Call it the land of the free and the home of the stupid.
How do you fabricate money and then sell it to yourself? Oh well, I guess I just don’t “understand” modern economics.
On the other hand, the more economic conservative ** German government seems to be doing well even though they are not following the Bush-Obama-Bernanke-Bailout Hope-N-Change philosophy:
http://online.wsj.com/article/SB10001424052748703960004575426572933053474.html?mod=googlenews_wsj
Could it possibly be that a stable currency and fiscal restraint leads to investment and growth?? Duhhh??
** Note to Palin-Huckabee Worship society – I said ECONOMIC Conservativism, not this revival-tent
social conservatism leads to prosperity.