**
Scotty Starnes posted: "[caption id="attachment_31394"
align="aligncenter" width="500"] You keep printing that money Ben and I'll
keep spending it.[/caption] Fed Chief Ben Bernanke is devaluing the dollar
to help Obama's election chances. From AJC: The Federal Reserve’s" Respond
to this post by replying above this line
New post on *Scotty Starnes's Blog*
<http://scottystarnes.wordpress.com/author/scottystarnes/> Fed:
Quantitative Easing Now, Quantitative Easing Tomorrow, Quantitative
Easing
Forever<http://scottystarnes.wordpress.com/2012/09/14/fed-quantitative-easing-now-quantitative-easing-tomorrow-quantitative-easing-forever/>by
Scotty Starnes <http://scottystarnes.wordpress.com/author/scottystarnes/>
<http://scottystarnes.files.wordpress.com/2012/09/obama_bernanke_meeting.jpg>
You keep printing that money Ben and I'll keep spending it.
Fed Chief Ben Bernanke is devaluing the dollar to help Obama's election
chances.
>From
>AJC<http://blogs.ajc.com/kyle-wingfield/2012/09/13/fed-quantitative-easing-now-quantitative-easing-tomorrow-quantitative-easing-forever/>
:
The Federal Reserve’s Open Market Committee today said it will keep trying
to print money until the economy recovers. In short, the Fed said it will
increase its purchases of mortgage-backed securities by $40 billion *a month
* until employment improves. So, indefinitely. Combined with other
maneuvers, the Fed said its asset holdings will increase by about $85
billion *a month*through the end of this year. And the money-printing may
not end there; from *the Fed’s
statement*<http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm>
:
The Committee will closely monitor incoming information on economic and
financial developments in coming months. If the outlook for the labor
market does not improve substantially, the Committee will continue its
purchases of agency mortgage-backed securities, *undertake additional asset
purchases, and employ its other policy tools as appropriate until such
improvement is achieved* in a context of price stability. In determining
the size, pace, and composition of its asset purchases, the Committee will,
as always, take appropriate account of the likely efficacy and costs of
such purchases. (emphasis added)
This is not what people mean when they talk about “wealth creation.” In
fact, it’s very nearly the opposite of that: The inevitable devaluing of
the dollar — the prices of gold, silver and several other commodities
spiked in the minutes following the Fed’s 12:30 announcement — means our
savings will lose value. This is the destruction of future wealth in the
hopes of creating some current economic growth. In that respect, it is no
different from increasing the budget deficit even further to fund even more
Keynesian spending.
Will it work? Ask Japan; they’ve been trying such “quantitative easing”
since 2001, without much positive effect. This is our third round of it in
the past four years.
Continue
reading>>><http://blogs.ajc.com/kyle-wingfield/2012/09/13/fed-quantitative-easing-now-quantitative-easing-tomorrow-quantitative-easing-forever/>
*Scotty Starnes
<http://scottystarnes.wordpress.com/author/scottystarnes/>*| September
14, 2012 at 10:30 AM | Tags: Ben
Bernanke <http://scottystarnes.wordpress.com/?tag=ben-bernanke>, devaluing
the dollar <http://scottystarnes.wordpress.com/?tag=devaluing-the-dollar>,
economy <http://scottystarnes.wordpress.com/?tag=economy>, Federal Reserve
Open Market
Committee<http://scottystarnes.wordpress.com/?tag=federal-reserve-open-market-committee>,
quantitative
easing<http://scottystarnes.wordpress.com/?tag=quantitative-easing>|
Categories: Political
Issues <http://scottystarnes.wordpress.com/?cat=35145> | URL:
http://wp.me/pvnFC-8al
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