"If you look at the global economy, there are many issues that merit more attention -- for example, the question of quantitative easing."
China's opposition to the proposal, which had made some progress at a G20 finance ministers' meeting last month, came amid a continuing rumble of protest from around the world at the U.S. Federal Reserve's plan to pump an extra $600bn into financial markets.
:soapbox:Monetizing the debt is a desperate act. It is a signal that we are rapidly reaching the end of the game. Slamming interest rates all the way to the floor did not revive the U.S. economy. Hundreds of billions of dollars in extra government spending did not do the trick either. The U.S. economy is still dying and the U.S. government is now beginning to find it very difficult to locate buyers for all the debt that it is constantly issuing.
So the Fed apparently hopes that this new round of quantitative easing will be a way to finance the exploding U.S. government debt and spark an "economic recovery" at the same time.
I do! I do!JiG said:Ben Bernanke penned an Op-Ed in which he essentially said: "I am doing whatever I interpret my mandate to be, which right now means only thing: Dow 36,000. I am only accountable to the private bank that is the Federal Reserve, a few Wall Street CEOs, and no one else. Congress has no power over me. Try to stop me."
Caught In A Lie: Bernanke Promised Congress The Federal Reserve Would Not Monetize The Debt But Now That Is Exactly What Is Happening
Does anyone have an idea as to why the founders didn't want a central bank?
I believe some of those stories I published were in direct relation to the fact that the Non-Federal Private Bank has decided to do Q2E.EmergencyNrse said:You forgot to mention that the FED is just going to print up
600 BILLION dollars to buy up some of the debt...
Can you say inflation? The dollar is worthless.