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Post by jeffolie on Sept 21, 2010 14:32:44 GMT -6
Au/Ag jump: FED QE2 Ben declared in a round about way that Dollars will be printed and thrown out of helicopters to avoid deflation. No details were given and QE2 was not spoken directly. Ben will wait until after the elections to give any details. By QE2, I mean "quantitative easing." ================================================== [from MarketWatch] "...Federal Reserve Chairman Ben Bernanke, according to Schiff, is saying “inflation isn’t rising fast enough. And he’s upset that the dollar is not losing fast enough. It’s another reason to sell the dollar and buy hold or other currencies where the Fed is not suicidal,” Schiff added..." “The Fed has this country on a collision course for disaster,” said Peter Schiff, president of brokerage Euro Pacific Capital. www.marketwatch.com/story/us-stocks-dip-ahead-of-fed-decision-2010-09-21?dist=afterbell==================================================== "...The Fed said it is "prepared to provide additional accommodation." In its previous policy statements, the Fed didn't go that far. Instead, it had said it would "employ its policy tools as necessary." The Fed made clear that given the economy's weakness, it's more concerned about prices falling than rising. It didn't use the word deflation. "...In economic circles, it's known as "quantitative easing." That's when the Fed takes unconventional steps, as it did during the financial crisis, to inject money into the economy. news.yahoo.com/s/ap/20100921/ap_on_bi_ge/us_fed_interest_rates
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Post by unlawflcombatnt on Sept 24, 2010 1:59:34 GMT -6
It's too bad that whenever the Fed discusses these plans, they don't just state frankly that their "plan" involves nothing more than giving money directly to banks and Wall Street, while leaving taxpayers on the hook for the payback in case of default.
All Q/E means is an additional bolus of Corporate welfare.
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