No Way Out - By Peter Schiff (18/12/12) PDF Print E-mail
Peter Schiff   
Tuesday, 18 December 2012 10:12

Euro-Pacific Capital

By upping the ante once again in its gamble to revive the lethargic economy through monetary action, the Federal Reserve's Open Market Committee is now compelling the rest of us to buy into a game that we may not be able to afford. At his press conference this week, Fed Chairman Bernanke explained how the easiest policy stance in Fed history has just gotten that much easier. First it gave us zero interest rates, then QEs I and II, Operation Twist, and finally "unlimited" QE3.

Now that those moves have failed to deliver economic health, the Fed has doubled the size of its open-ended money printing and has announced a program of data flexibility that virtually insures that they will never bump into limitations, until it's too late. Although their new policies will create numerous long-term challenges for the economy, the biggest near-term challenge for the Fed will be how to keep the momentum going by upping the ante even higher their next meeting.

The big news is that the Fed is now doubling the amount of money it is printing. In addition to its ongoing $40 billion per month of mortgage backed securities (to stimulate housing), it will now buy $45 billion per month of Treasury debt. The latter program replaces Operation Twist, which had used proceeds from the sales of short-term treasuries to finance the purchase of longer yielding paper. The problem is the Fed has already blown through its short-term inventory, so the new buying will be pure balance sheet expansion.



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The Fiscal Cliff Is A Diversion: The Derivatives Tsunami And The Dollar Bubble - By Paul Craig Roberts (18/12/12) PDF Print E-mail
Paul Craig Roberts   
Tuesday, 18 December 2012 10:11

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How The Fed Rules And Inflates - By Murray N. Rothbard (18/12/12) PDF Print E-mail
Murray N. Rothbard   
Tuesday, 18 December 2012 10:10

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MUST-WATCH VIDEO: The Price Of Gold Manipulated (17/12/12) PDF Print E-mail
Posted by Administrator   
Monday, 17 December 2012 08:37

 

 

 



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Last Updated on Monday, 17 December 2012 08:43
 
QE 4: Folks, This Ain't Normal - What You Need To Know About The Fed's Latest Move - By Chris Martenson (17/12/12) PDF Print E-mail
Chris Martenson   
Monday, 17 December 2012 08:36

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