The dollar fell the most in four weeks against the currencies of six major trading partners after the Federal Reserve said it will pump more money into the U.S. financial system to spur inflation and employment. The greenback slid versus 15 of its
The way used, poison indeed, but if used right could be an elixir
Fleckenstein doesn't want the Fed acting as a politburo deciding interest rates in a room. He lists the reasons why: in the last 15 years the Fed blew and equity bubble, then a housing bubble, and now they want to print our way to prosperity.
“Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance,” Rogers, 68, said in a lecture at Oxford University’s Balliol College yesterday. “All he understands is printing money.”
Ron Paul Questions Fed Authority, Vows Another "Audit the Fed" Effort http://globaleconomicanalysis.blogspot.com/2010/11/ron-paul-questions-fed-authority-vows.html Ron Paul is back at it with another "Audit the Fed" campaign, this time with a
"I think the Fed is injecting high grade monetary heroin into the financial system of the world, and one of these days it is going to kill the patient." David Stockman, director of the OMB under Ronald Reagan.
In other words, Bernanke v. Paul theater will soon be a weekly feature. Stock up on your popcorn!
It's your choice America - but where this road leads is not open to debate. These institutions that robbed you can only survive the consequences of their acts by destroying you, and they are hellbent and determined to do exactly that...
Since June of this year, your money weighed against a basket of other depreciating currencies has now fallen 15%! And it is in process of a 5th wave down that is breaking major support. (Dollar Index may fall below 70 by 11-14-10)
I have listed the many reasons why the PPT is all smoke and mirrors over the years. So to save space, I won’t repeat. That having been said, QE2 is beginning to look like an open-air multi-month version of the PPT.
Incidentally, Zero Hedge now believes a $5 trillion QE3 program will be announced by July 2011, when gold is trading at $10,000, the entire Treasury curve is at zero, and stock prices are meaningless courtesy of a DXY sub 50, and every commodity...
What The Fed is doing, basically, is imposing a huge tax increase of $600 billion over the next six months on the economy. Tax increase? Yep. It's just hidden.
So much for the Fed's two mythical mandates of promoting "maximum employment" and maintaining "price stability.
The Federal Reserve is going back to Jekyll Island to celebrate the 100 year anniversary of the infamous 1910 Jekyll Island meeting that spawned the draft legislation that would ultimately create the U.S. Federal Reserve.
The key is to realize that supermoney can have a multiple impact on the money supply. In 2008, just before the financial crisis broke out, the multiplier impact on M2 was 10. Got that 10? Although, I don't necessarily expect it to go that high...
Of course, that's great news for banks, which desperately desire a steeper yield curve in order to make money borrowing short and lending long.
QE Begins!! $600 billion will be printed to purchase Treasuries by Q2 2011. That's a bit more than the latest expectations.
The Fed is now monetizing essentially the entire net issue of Treasury Debt for the next six months. This is an effective 20% devaluation of the currency beyond that which has already been done.
The Desk anticipates conducting $850 to $900 billion of purchases of longer-term Treasury securities through the end of the second quarter. This would result in an average purchase of roughly $110 B per month, representing about $75 B per month...
As the US Federal Reserve meets today to decide whether its next blast of quantitative easing should be $1 trillion or a more cautious $500bn, it does so knowing that China and the emerging world view the policy as an attempt to drive down the dollar
The Federal Reserve will probably introduce an unprecedented second round of unconventional monetary easing tomorrow by announcing a plan to buy at least $500 billion of long-term securities, according to economists surveyed by Bloomberg News. Pol
Since 1971, while total US debt has risen by 2,600%. Now for the kicker. Real GDP has only gone up by 292% since 1971. This means that 1,000% of the increase in GDP was from Federal Reserve created inflation.
We are in a perilous time. Indeed, the policies of our government - to borrow and spend, larding up the interest costs down the road and protecting those who are bankrupt, simply means that cost pressures - and margin collapse - will accelerate...
On November 6 of this year, Federal Reserve Chairman Ben Bernanke will speak on 'Federal Reserve: Past and Present' before the 'A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve' conference...
Are they really simpletons, or are they just taking orders from the Financial Elites who have the most to lose when the whole sagging sandcastle finally collapses into the waves?
But there is one distinct benefit of such a policy – it alters the composition of bank balance sheets. At the end of the day it’s really just an asset swap and a transfer of risk via bond duration or bond type. The kicker here, is that if...
A noted insider bashes destructive Fed policy
The Federal Reserve is preparing to put its credibility on the line as it rarely has before by taking dramatic new action this week to try jolting the economy out of its slumber. If the efforts succeed, they could finally help bring down the stubborn
The amount of money being talked about is scary, and all this apparatchik can do is deny she has any knowledge of the money or the authority to revue the Fed's books. May 12, 2009
The Fed is stealthily floating the idea that a surge in oil prices will be for the greater good. The Fed is telegraphing that while it acknowledges that oil is about to jump to over $100, it won't be as bad as those with a functioning brain dare to..