Until the other day, I thought Obama's "change" mantra was a lie, and should've been "amplify". That was the accurate term until this announcement >>http://www.federalreserve.gov/newsevents/press/monetary/20090318a.htm. Change, indeed.
"When the next stock decline comes, and even lower lows are carved, once more the USTreasurys will be chased as safe haven. We will be much closer to the arrival of price inflation by that time. No longer can one say that the dominant flow of USGovt funds is only to Wall Street firms, AIG, and Fannie Mae. Big USGovt spending packages are being agreed upon. Whether efficiently assigned or not, massive money is soon to hit Main Street." -- Jim Willie
"In total the commitment to counterfeit over a trillion dollars leaves only $682 trillion dollars worth of derivatives to sort out." -- Bob Moriarty
"Just last week, Chinese premier Wen Jiabao voiced concern about his country's massive investments in U.S. government debt. In the most unequivocal statement yet by the Chinese leadership on this issue, Wen made it plain that he was concerned with depreciation, not default. With his fears now officially confirmed by the Fed statement, we must wonder when the Chinese will finally change course." -- Peter Schiff
"This latest development of the Federal Reserve monetising debt is inflationary and confirmation that the Federal Reserve wants to debase the US Dollar. It is worth noting that the total debt in the US now exceeds US$60 trillion and its economy is around US$14 trillion. So, the US is already bankrupt and the only way it can ever hope to repay this gigantic sum is through monetary inflation and debasement." -- Puru Saxena
Friday, March 20, 2009
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