Posted on 03/18/2009 12:10:59 PM PDT by FromLori
The Federal Reserve said today that it will deploy an additional $1.2 trillion to try to lower interest rates and stimulate the economy, an aggressive move aimed at containing the recession.
The central bank will increase its purchases of mortgage-backed securities by $750 billion, on top of a previously announced $500 billion. It also will double its purchases of debt in Fannie Mae and Freddie Mac to $200 billion. Those steps are intended to lower mortgage rates. The announcement of the previous purchases pushed mortgage rates down a full percentage point.
(Excerpt) Read more at washingtonpost.com ...
The link below may point out big this financial meltdown really is and how long ago it started.
http://www.villagevoice.com/content/printVersion/850296
does the federal reserve have a few trillion laying around here and there to do this? Must be nice.
They are going to destroy the US$.
The Fed also stated it would buy $300 Billion of Treasury Securities. Folks, this is “quantitative easing.” My brother-in-law economist agreed with me that “quantitative easing” is polite-speak for monetizing the debt, which in turn is a euphemism for printing money.
Gold, which was down on the day, leapt 35 dollars on the announcement. Long-term interest rates dropped, but I’m betting (with money) that it is only temporary, because this is a program with tremendous inflationary potential.
“deploy” an additional 1.2 trillion. DEPLOY? Deploy from where? How the hell do you deploy something you don’t have? Or is this deployment to be the fate of Husseins tax increases!
Thanks
These (following below) are the products that our financial “experts” are talking about that must be unwound. Can you just imagine hahaha Barney Fagg didn’t know? I suppose if the Mexican police can be corruped with Drug Money, why can’t Barney FAGG as Americas Financial Cop turn a Blind Eye when the
BANKERS AND LAWYERS give him a Million Dollars in just One Year!
http://www.siliconvalleywatcher.com/mt/archives/2008/10/the_size_of_der.php
Know what the Derivatives cost per person? BJ Bill says he should have done a better job nice of him to admit that after the payoffs...
Just curious, is the Fed totally autonomous, meaning they can do whatever the hell they want without the need to have approval from the other branches of government?
Hope no one is going overseas in the next few days. Look at what the dollar is doing.....a nosedive!
I agree well you know Russia just called for a new world currency it was on drudge last night. I think that is the plan to screw things up! It is still on there in the middle down a bit and they have more bad news on drudge I have to go check it out. YIKES!
Ha! The Federal Reserve is just as "Federal" as Federal Express.
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