World knows what just printing money is going to do.
Related: Fed Shopping Spree
"Fed to pump $1t into economy, stands pat on rate" by Associated Press | March 19, 2009
WASHINGTON - The Federal Reserve said yesterday it will inject about $1 trillion into the economy in a bold effort to help the battered housing market and lift the country out of recession.
At the same time, the Fed left a key short-term bank lending rate at a record low of between zero and 0.25 percent. Economists predict the Fed will hold the rate in that zone for the rest of this year and for most - if not all - of next year.
Because they CAN'T DROP IT ANY LOWER!!! Effectively at ZERO now!
In a new program, the Fed said it will buy up to $300 billion of long-term bonds, a move that should boost Treasury prices and drive down their rates. That would ripple through and lower rates on other kinds of debt. The last time the Fed set out to influence long-term interest rates was during the 1960s.
When does all the borrowing end, taxpayer?
And expanding an existing program, the Fed said it will buy more mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac.
Did you see this, America? U.S. Taxpayers Get Screwed in Fannie
The central bank will buy an additional $750 billion, bringing its total purchases of these securities to $1.25 trillion. It also will boost its purchase of Fannie and Freddie debt to $200 billion....
Pretty soon we will be talking real money.
In addition, the Fed said a $1 trillion program to jump-start consumer and small business lending could be expanded to include other financial assets.
Gonna loan you back your own money??????????
The program - which is rolling out this week - currently is focused on spurring lending for autos, education, credit cards, and loans for business equipment. The government already has disclosed an expansion to include commercial real estate assets. Any broadening of the program would be beyond that area.
Ummm, yeah, whatever, lying MSM:
U.S. Banks Driving Credit Crunch ON PURPOSE!!
Bush Administration Created Credit Crunch Crisis
Banks Cut Off CreditThe Fed's action kept Wall Street's big rally alive. After being down earlier in the day, the Dow Jones industrial average added more than 90 points, and broader indicators also rose....
And THAT is WHO and WHAT is IMPORTANT!!!
Fed chairman Ben Bernanke and his colleagues are taking the new steps as the economy sinks deeper into recession....
Nothing these guys have done has "worked" -- for us. The smart guy globalists planned this -- so why believe or trust their "solutions" now?
--more--"
Ron Paul is right: time to end the Fed and private banks looting of the American economy.
