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Can anyone tell me if the recent Fed Reserve action to “monitize the debt” was the first explicit time(not other indirect methods) that they have taken such action? Is this an historical precedent?

I read that Japan and other countries were already doing that. Its one way to combat deflation, no? The danger is that its very explosive as economy can turn on a dime and go into inflation then hyper-inflation after the money supply is inflated too much or too fast, right?

I previously wrote: Don’t PANIC: Japan’s Financial collapse 2 occur 1st. US has a few months 2 prepare before US next

Obami won’t max out on his US Debt Credit Cards until at least another 10-15 trillion.

1. debt 10.9 trillion http://en.wikipedia.org/wiki/United_States_public_debt divided by 2. US GDP 14 Trillion, http://www.forecasts.org/gdp.htm = 80% Japan is in much worse shape. Its debt as percentage of annual gross domestic product is much higher at 170%. http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

In conclusion, we should see some other countries go dramatically chaotic before we do. Its already happened in Iceland.

Of course the amount of money the US pays out just for interest on the debt and for mostly fixed(SS) spending will exceed the money it takes in from tax receipts around 2030. So its all good until about 2030 unless our foreign born President spends more than another 10 trillion or he drives down the nation’s gdp by significant percentages. We could grow our way out of this mess they Hayek way. But the principle of compound interest and “vote yourself some benefits” makes that less likely each day, no? We can’t financially survive as a country after 2025-2030 unless we were to get behind business and grow our way out of this, right?