Posted on 03/18/2009 5:28:24 PM PDT by advance_copy
The US Federal Reserve says it will buy almost $1.2 trillion (£843bn) worth of debt to help boost lending and promote economic recovery.
It said it would start buying long-term government debt and expand purchases of mortgage-related debt.
The size of the move surprised investors, causing the Dow Jones stock index to jump almost 200 points.
The Bank of England has already begun buying government debt to expand money supply - known as quantitative easing.
The Federal Reserve said it hopes the measures will boost mortgage lending and the struggling housing market by lowering interest rates on mortgages and other forms of consumer debt.
(Excerpt) Read more at news.bbc.co.uk ...
Will this send interest rates lower?
The real problem of our nation originates with the idiots in Congress and extend that problem to the current fraud that sits in the WH.
The Fed cannot do anything about Nancy Pelosi or Harry Reid either.
Obama gonna buy me a new car, pay my bills , and and and ..... finally !
< /sarcasm>
I propose to take all your money and all your children and grand children's money and dole it out to my friends who supported me.
But I'm really not gonna do that either. I'm building up a slush fund to create havoc down the road a bit so I can say I saved the country and win a second term!"
It has IOU’s.
Is this real money or just play money?
For a little while,until production starts up. Then watch out. 1.2 Trillion dollars chasing a few commodities, or products. Plus the other trillion or so they pumped into the stimulus package.
The dollars you will be using to pay your debt in three years will be worth a lot less than they are today.
Hello hyperinflation is coming sooner or later!
Hyperinflation here we come!
Real money? Since when has that existed? (1969 or so)
Don't forget the idiots that elected them.
When inflation kicks in that might be what it takes for a fancy meal out
Monty Python Money Song:
I’ve got ninety thousand pounds in my pyjamas.
I’ve got forty thousand French francs in my fridge.
I’ve got lots of lovely lire.
Now the Deutschmark’s getting dearer,
And my dollar bills would buy the Brooklyn Bridge.
Chorus:
There is nothing quite as wonderful as money.
There is nothing quite as beautiful as cash.
Some people say it’s folly,
But I’d rather have the lolly.
With money you can make a splash.
PRESENTER:
There is nothing quite as wonderful as money.
CHORUS:
...Money, money, money, money.
PRESENTER:
There is nothing like a newly minted pound.
CHORUS:
...Money, money, money, money.
PRESENTER and CHORUS:
Everyone must hanker
For the butchness of a banker.
It’s accountancy that makes the world go ‘round.
CHORUS:
‘Round, ‘round, ‘round.
PRESENTER:
You can keep your Marxist ways,
For it’s only just a phase,
For it’s money, money, money makes the world go ‘round.
Look for a 30 year mortgage to be 4%. If this doesn’t help the home building industry, nothing will.
Nixon was the first president to spend more than we took in. Up until that time mortgage rates were around 4% and never waivered.
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