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Is the FED propping up Obama's spending by printing money?
So the privatley owned federal reserve is printing money and buying treasury bonds. Does anyone else realize how bad this is?
2 Answers
- dartagnon pLv 61 decade agoFavorite Answer
Welcome! Yes ... we ARE aware of this.
The Fed is printing money as fast as they can ... they have to print the entire 1.5 trillion dollars in order to keep up. PLUS ... AIG is paying foreign entities for "economic downturn loss policies" that they sold for big bucks ... but now the gov't needs to bail THEM out too. We are paying for the WORLD Economic Recovery Act.
Good thing our kids will be rich and be able to pay off the debt!
:-)
Peace
- Anonymous1 decade ago
It sure looks like the Fed is doing a last ditch effort to prop up the economy
Today they announced 1.2 trillion $$$ in bailing out mortgages and buying their own treasury bonds (which I don't know, is that because China won't buy anymore?) But why would the fed do this unless this is a last resort? And why are we not all talking about this? The dollar fell sharply in value today, gold rose $26.an ounce today, after this fed anouncement