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QE3 - The "Gift" that will be "Never Ending"

Started by Zircon, September 14, 2012, 10:58:03 AM

Zircon

Ben Bernanke now has the Federal Reserve engaged in an open ended scheme to purchase $40 billion in mortgage-backed securities each month. Being "open ended" means those running this scam will not have to come back and convince anybody for a QE4, QE5 etc. This is nothing other than another banker bailout.

New loans will not be made. The banks are not strapped for monies as they are have approx. $1.6 trillion in excess reserves. In fact, back in 2008, after the TARP bailout, the Federal Reserve paid banks to WITHHOLD loans.

The bailouts are not designed to invigorate the economy but to prop up the stock market for those well invested in the market. The real economy continues to go straight to hell.

The “wealth gap” between rich and poor has vastly increased. This again illustrates how these actions have nothing to do with helping the little guy get back on his feet and everything to do with the concentration of financial power into fewer hands.

Bernanke claims that the justification for QE3 is to boost employment. WTF !!! If anything, Bernanke’s policies are largely responsible for creating high unemployment in the first place. He even said this new policy will not do much to alleviate joblessness. It has come about to prop up assets and nothing more.

The fact that we haven’t seen massive inflation since the start of the Fed’s QE policies shows that the money isn't being pumped back into the economy. QE3 is nothing more than another massive wealth transfer with the middle class and poor as its victims. Another manifestation of neo-feudalism to destroy America and have the globalist bankers pose as the saviors.

The economy is being destroyed by design in order to centralize power and control as our society becomes more fearful. Look at Europe and see what is happening.

Mitt Romney called and begged Ben not to do this. Is that (1) a sign of weakness on Romney's part or (2) a sign of knowing how finances work or is it (3) just a selfish plea? He knows business. Unfortunately those running this nation at the moment are only concerned with bankers and concentrated wealth under the guise of a good market.

Quote from: Zircon on September 14, 2012, 10:58:03 AM
Ben Bernanke now has the Federal Reserve engaged in an open ended scheme to purchase $40 billion in mortgage-backed securities each month. Being "open ended" means those running this scam will not have to come back and convince anybody for a QE4, QE5 etc. This is nothing other than another banker bailout.

New loans will not be made. The banks are not strapped for monies as they are have approx. $1.6 trillion in excess reserves. In fact, back in 2008, after the TARP bailout, the Federal Reserve paid banks to WITHHOLD loans.

The bailouts are not designed to invigorate the economy but to prop up the stock market for those well invested in the market. The real economy continues to go straight to hell.

The “wealth gap” between rich and poor has vastly increased. This again illustrates how these actions have nothing to do with helping the little guy get back on his feet and everything to do with the concentration of financial power into fewer hands.

Bernanke claims that the justification for QE3 is to boost employment. WTF !!! If anything, Bernanke’s policies are largely responsible for creating high unemployment in the first place. He even said this new policy will not do much to alleviate joblessness. It has come about to prop up assets and nothing more.

The fact that we haven’t seen massive inflation since the start of the Fed’s QE policies shows that the money isn't being pumped back into the economy. QE3 is nothing more than another massive wealth transfer with the middle class and poor as its victims. Another manifestation of neo-feudalism to destroy America and have the globalist bankers pose as the saviors.

The economy is being destroyed by design in order to centralize power and control as our society becomes more fearful. Look at Europe and see what is happening.

Mitt Romney called and begged Ben not to do this. Is that (1) a sign of weakness on Romney's part or (2) a sign of knowing how finances work or is it (3) just a selfish plea? He knows business. Unfortunately those running this nation at the moment are only concerned with bankers and concentrated wealth under the guise of a good market.


We've already had $6 Trillion aded to our National Debt. - 4 years of annual deficits of $1.5 Trillion.  And nothing - nothing! - to show for it.

Apparently they aren't bankrupting the country fast enough, so now Obama and Helicopter Ben are flat-out printing money - $40 Billion a month.  A MONTH!

Just as a few weeks ago when Obama's Justice Dept decided to not prosecute Goldman Sachs or any of their executives for peddling their junk mortgage backed secutities - with which they intended to defraud the buyers - and kicked off the current economic mess - I asked where Occupy Wall Street was.   I ask again - if Occupy Wall Street are who they say they are, and not just a Soros/Obama agitation-propaganda front group, WHERE ARE THEY TODAY?

Zircon

I want to hear from our intellectuals on the excellent points you just brought up. I think the Occupy folks might have served their purpose or have been shown to not be effective enough - thus disbanded.

Look at three things that have just happened since the democratic convention ended.
(1) The Embassy attacks. As I understand it there are 2 dead and 29 injured in Tunisia. Have yet to hear if they are Americans or police actions on the demonstrators. Now Obama moves in two US destroyers and 50 marines into Tripoli. If he does some bombing he will be viewed as "acting presidential" and delivering a blow against evil doers while the American flag waves around the explosions. He ignored this deliberately. He knew it was coming. Timing is everything and is exactly what he needed to show his foreign policy "decisiveness".
(2) This never ending QE. Propping up the market and putting money into the hands of those who actually determine who they will support.
(3) Obama doing the circuit. He is doing Letterman, Las Vegas and fund raisers and Michelle is doing DR. Oz - WHILE THIS IS GOING ON in the MIDDLE EAST !!!


Zircon

Quote from: UFO Fill on September 14, 2012, 01:54:01 PM
Where do I go to get a check?
Either your local ACORN office or SEIU union hall. Or, better yet, Mr. Goldman or Mr. Sachs.

Sardondi

Here's a surprise: The United States of America just had its creditworthiness - that is, the likelihood it can and will pay back its debts - downgraded by Egan-Jones for what is (I'm pretty sure) at least the fourth time, down from "AA" to "AA-". The US started at AAAA, and has been steadily shedding those "A's", and doing it faster and faster. http://www.cnbc.com/id/49037337

Oh, and what was to blame? The latest pumping Bernanke was so proud of. http://www.forexlive.com/blog/2012/09/13/egan-jones-analyst-hints-at-us-rating-downgrade-post-qe3/ Yep, another big surprise.

It's a shell game: Bernanke and Team Neo have taken the craven path every time on every issue. They play for the short political advantage, never trying to fix anything, just trying to desperately shore it up so that please God it doesn't happen until after the election. This is 5th-century Rome kind of thinking. Such mean, low, craven men we have chosen to run our country.


Quote from: UFO Fill on September 14, 2012, 01:54:01 PM
Where do I go to get a check?

First you have to be a bank.  Then you have to buy junk mortgages at about 12c on the dollar.  Then you have to either be a big Obama donor or get your man in at Treasury or on the white House staff.

Only then can you sell that loan to the Fed for the full face value of the debt.  At that point you are free to either take a monstrous bonus as a reward for making this very profitable deal, or loan the money out into the community.

Again I ask:  Where is Occupy?  I'm starting to think they may just be as big a bunch of frauds and phonys as Obama and the banksters are.

Sardondi

Quote from: Morgus on September 14, 2012, 11:55:22 PM
Buy GOLD!

Back in the late 80's when gold went on a big upswing, it got up as high as $900 an oz. I poked fun at my parents, who took that time, at the very height of the market (at the time) to buy some gold. 

Look who's laughing now.

I thunk you're right, and I think there's a chance that things might go to shit. or "TEOTWAWKI" as the survivalists call it (The End Of The World As We Know It). But for people who live anywhere near major population centers gold won't begin to do it.

Zircon

Quote from: Sardondi on September 14, 2012, 11:35:00 PM
Here's a surprise: The United States of America just had its creditworthiness - that is, the likelihood it can and will pay back its debts - downgraded by Egan-Jones for what is (I'm pretty sure) at least the fourth time, down from "AA" to "AA-". The US started at AAAA, and has been steadily shedding those "A's", and doing it faster and faster. http://www.cnbc.com/id/49037337

Oh, and what was to blame? The latest pumping Bernanke was so proud of. http://www.forexlive.com/blog/2012/09/13/egan-jones-analyst-hints-at-us-rating-downgrade-post-qe3/ Yep, another big surprise.

It's a shell game: Bernanke and Team Neo have taken the craven path every time on every issue. They play for the short political advantage, never trying to fix anything, just trying to desperately shore it up so that please God it doesn't happen until after the election. This is 5th-century Rome kind of thinking. Such mean, low, craven men we have chosen to run our country.
Clearly Bernanke needs to go but he isn't calling these shots. He is the banker's Obama. They create paper out of thin air and we owe them cold, hard currency is return. Unless I am mistaken, and I might be, only congress can authorize the creation of money. Am I correct on this Sardondi?

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