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To: SMARTY

More:

http://www.marketwatch.com/news/story/Fed-acts-boldly-wont-distracted/story.aspx?guid={00C8F974-4000-4197-A043-6E1D035B1015}

Fed not distracted by circus over bonuses
Commentary: FOMC ramps up credit easing in face of worsening economy

By MarketWatch
Last update: 2:48 p.m. EDT March 18, 2009Comments: 181

WASHINGTON (MarketWatch) — The grownups in Washington aren’t about to let the latest political and media circus over ill-gotten bonuses distract them from saving this economy.

The Federal Open Market Committee acted very boldly Wednesday, promising to crank up the money supply until the economy starts breathing on its own again.

The FOMC said it would buy up to $300 billion in longer-term Treasurys over the next six months. And it said it would boost its purchases of mortgage-backed securities and agency debt, all in a bid to get credit flowing through the economy again. See full story.

All told, the FOMC committed to boost its arsenal by $1.15 trillion, doubling in one pen stroke the amount of “credit easing” it’s already accomplished.


19 posted on 03/18/2009 12:46:50 PM PDT by TenthAmendmentChampion (Be prepared for tough times. FReepmail me to learn about our survival thread!)
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To: TenthAmendmentChampion

That link didn’t work for me. Try this one, everybody:

http://www.marketwatch.com/news/story/Fed-buy-300-billion-Treasurys/story.aspx?guid=%7B99A44732%2D2AD2%2D4F2F%2D833A%2DB7FFFC85451D%7D


39 posted on 03/18/2009 1:05:01 PM PDT by Ghost of Philip Marlowe (The Stimulus Package: Preamble to the Democrat's new Declaration of In Dependence)
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To: TenthAmendmentChampion

How can the Fed justify holding $1.5 trillion in junk bonds on its balance sheet in exchange for US currency? Its like a black hole. Junk goes in and currency flows out? How can this possibly work????


87 posted on 03/18/2009 4:10:46 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: TenthAmendmentChampion

And this 1+ trillion being created out of thin air mere days after China publically expressed concern over their huge dollar holdings being ‘safe’.

A clear raised middle finger from Obama to China saying...”You worry about depreciation of the value of your dollar holdings? Well, we are going to screw you royal. What are you going to do about it?”


103 posted on 03/19/2009 2:42:36 AM PDT by OldArmy52 (Mainstream Media cheered: Ascension of Castro, Chavez and now Obama.)
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