Skip to comments.Fed to Spend $600 Billion More To Help Boost US Economy (How low will the dollar go)
Posted on 11/03/2010 1:10:06 PM PDT by Hojczyk
The Federal Reserve launched a controversial new policy on Wednesday, committing to buy $600 billion more in government bonds by the middle of next year in an attempt to breathe new life into a struggling U.S. economy.
(Excerpt) Read more at cnbc.com ...
Get ready for higher gas prices..the lower the dollar the higher the price of oil...Thanks OBAMA
Don’t forget the high food prices also. I predict $4 Gas by Spring.
The Fed and the Banksters need to be the next target for the Tea Party.
Fed to create $600 billion from thin air!
This is a bad idea, but if they’re intent on doing it, a cheaper way to manage it would be, instead of the government spending it, deduct that amount from taxes collected and let the people spend it...that would remove the administration costs of innumerable government purchases.
If this was a private business, these sadistic idiot-ridden fools housed within the Fed, running it, and setting monatary policy would already be in jail. =.=
I don’t know why they just didn’t give every tax paying American 1,000,000 to begin with. I think we could spend the money more wisely than the ones in charge of our hard earned dollar.
Just in time for the Wall St. X-MAS bonuses. The sugar daddy FED keeps doling out the money heroin to the addicts.
Don’t worry this will only effect goods and services that require energy for distribution or use.
Oh wait... that’s everything!
Vanity Question ... when the new folks get sworn in, can the Fed still do something like this without HOUSE approval? Just wondering ... (thanks)
” If this was a private business, these sadistic idiot-ridden fools housed within the Fed, running it, and setting monatary policy would already be in jail. =.= “
As a private sector financier, I offer you a resounding DITTO!
This is their way of increasing prices. They want to pump up inflation. Rising prices are easily confused with rising prosperity.
Government-sponsored inflation is theft. Theft from savings accounts, investments and homes.
Rising prices expose salaries to “bracket creep” enabling the government to take more money and to say that they didn’t.
I can see Obama blaming the Republican Congress for this.
Anyone watching Glenn Beck? He is speaking about this.
I turned Beck on right at the end of his show. What was he saying about Friday night’s show?? Thanks in advance if you know.
This is actually robbing you and me of our savings and purchasing power. This has to be a #1 priority Jan 2nd.
The very definition of insanity=repeating something expecting a different outcome.
They want they're global currency.
We were attacked by terrorists with airplane bombs,Obama makes a speech that is frightening they are printing more money we don't have and Obama and Hillary leave town. And people are most worried about when Alaska will count their votes.
As long as they earned it. /s
How low will the dollar go?
Well, in 1914 a $20 bill could be taken to the bank and exchanged for a $20 gold coin. With that $20 gold coin you could purchase a very nice suit. Now a $20 gold coin is worth about $1300 and will buy you a very nice suit.
Since then, the dollar is worth about 4% of what is was in 1914. I expect it to be devalued by about 50% over the next 2-4 years and it may accelerate after that until were are like post WWI Germany or Zimbabwe recently.
So if you had some cash just sitting on the sidelines,what would you do?
Fri nights show he will show the who is holding and controlling the puppets. He actually showed a news clip of Soro’s literally saying that the the title of this news article needs to be done.
He’s talking about the devaluation of the dollar and attempts to take us down financially. Today he said that’s more important that the elections last night.
Apparently Friday’s show will be on this subject, with a special next Tuesday and probably all week.
Tough to listen to, scary stuff, and he makes a good case.
He might but the public needs to be educated on how The Fed works and who really runs it.
The QE II mess will be a total disaster!!!!!!!!!!!!!!
Exactly it is tough to listen too but can it be denied or refuted?
committing to buy $600 billion more in government bonds by the middle of next year
I like how you think I needed the laugh thanks.
ALso didn’t Drudge have a headline that sugar prices are to go up?
Agreed. From the frying plan to the fire. THis is a theft that only the central government can do.
Obviously 0bama didn’t learn his lesson
Thanks for the Beck info. I figured it was going to be something worth watching and something that will make us sick.
Last night when I switched the channel to MSNBC watching comedy of Olbie, Maddow,Matthews. I heard Matthews say that Glenn Beck is not even a human being. So I LIKE Beck.
Cash out your 401k at the first of the year
Pay off your debt by time the tax is due you will pay 1/2 as much.!
I pulled all the equity out of my house and borrowed sub 5% for 30 yrs fixed.
I plan on paying it back with Baraqqi minibucks.
It’s not just gas but all prices that will raise.
This is not going to boost the economy, what kind of idiotic ecnonomics books do they read at the federal reserve?
I’d buy myself a little Galt’s Gulch somewhere if I had the money.
Cash just doesn’t sit on the sidelines unless its in a mattress.
This is going to decrease the value of the dollar by that much.
That only works if you have a job. If you own money and can not pay the bank you can maybe delay 6 months the bank taking it. I you own your house out right it will take the city or town probably 2 years to take it.
Not necessarily in this situation...rising prices in our current state of high unemployment and even higher under-employment will not necessarily result in higher salaries. What rising prices will do is put pressure on those frozen or non-existant paychecks - more money will be drained for basic necessities and less will be available for discretionary spending. For the mass of people in America with high debt to pay off, those rising prices also mean that there will be less available to pay down or service that debt.
What this does is provide very short term help to the government's balance sheet...at a high price later on. Kick the can down the road to the next election. Just keep the lid on the boiling pot...but it may well be a fool's bet for them because they are damned if they do and damned if they don't.
The financial pressure put on an already battered public straining to just make ends meet could create a bigger explosion than the government not being able to keep it's departments operating for lack of ability to borrow more funds.
With the passage of Prop 23 here in CA, we’ll soon be paying $9/gal.
I mean the defeat of Prop 23.
Yes good points. But there are already empty foreclosed homes that just sit. But then property, (the right to smoke a cigarette in your home and flatulance)- taxes will soon have someone homeless. Will the country get to the point when county, state, fed taxes are not collected? I doubt it.
Obama cares for us remember... he wants us all on unemployment and welfare so it will all be ok.
QE2 is just Obama’s end-a-round-run of the incoming republican majority.
He will be able to claim the markets are improving he will be able to show gains in the GDP falsely inflated by 500 billion worthless dollars.
Inflation will be “blamed” on the Republicans and if the dollar slides and fails Obama would then seek UN help in the form of monetary (world currency) oversight (authority). Thus his pro socialist agenda is not dead just re-navigated.
If the future value of the dollar is in jeopardy what institution in there right mind would loan money out today to be repaid at a much lesser value?
Again all of this will be skillfully spun as to blame those greedy Republicans.
Obama is only too happy to have the Republicans in charge when he and the Fed crash the economy.
Soro’s must have bussed in many illegals with an electric bill for the win. That is quire sad I am sorry for Ca. have you thought about moving?
The Federal Reserve like the IRS is not constrained by the Constituion.
Post of the year! You nailed it to a tee. I wish I could fit your post as a sig quote. It needs repeated. It is the truth very well stated.