Tuesday, November 12, 2013

Federal Reserve

74 percent of Americans support auditing the Fed.

Ron Paul explains the problem with government's "chained CPI" statistic.

Peter Schiff expects more money printing.
"Recession avoidance is really the Fed’s only concern and it will always come down on the side of accommodation. Therefore an expectation for a 2014 taper is just wishful thinking."
"But that does not mean that QE will go on forever. It will come to an end, but not because the Fed wants it to, but because the currency markets give it no choice. A dollar crisis would ultimately force the Fed’s hand, and the longer the Fed succeeds in postponing the inevitable, the more damage its policy mistakes will inflict on our economy."
The maddening aspect of all this is nobody can predict when anything will happen.

The money has been printed, so the damage has been done.
"Inflation will be one among other measures through which governments will try to get rid of excessive debt. You see, the fiat money regime has brought about a situation in which many borrowers — in particular governments and banks — are no longer in a position to pay down their debt. In other words: The damage has been done, the only question is: who is going to pay for it? "
The serfs are going to pay for it, like always.

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