Russia and China pissed at their worthless US Bonds now. Last sale before Fed is buying went badly. Obama economic polices are being covered up by the Fed.
The way to stop this FED insanity right now is for the newly elected Republican team to declare that once in office, the doors of the FED are to be opened, and their books are going to be examined.
Since in truth, all they are is a mountain of unsupported debt, exposure alone may be enough to kill them. Their credibility, and thus authority, will be shot.
All Bernanke is doing is shuffling paper around. At the end of the day, what’s changed?
The Fed can’t tell us.
” But when the Chinese buy U.S. treasuries, they do so with real money they earned from actually making and selling things. “
!
One wonders what these adolescent punks will do during the lame duck session of Congress.
Just asking.
Does this mean my Nokia stock is going to $1000?
Before this is pinned on the republicans, it was announced the day or two before November 2nd that Bernanke was going to do this. What he did was to time it to mentally relate it to the elections so that in 2012 people (with short memories) would think and believe it was a result of the GOP win.
Conservatives needs to be all over this so the public understands without a doubt who is responsible for the devastation that is sure to come.
Mike
This redistribution of wealth is outrageous. In the past, conservatives have railed against transfers like welfare to irresponsible single mothers, and rightly so, but welfare mothers not the ones getting these outrageous payments.
Good catch, Mark!