The FOMC decided to buy Treasurys....well, to buy just about anything...today. The FED will expand its balance sheet by $1.15 trillion dollars!
[read: printing more money we do not have a.k.a. devaluing the dollar some more]
"We're not even close to the bottom and therefore the Fed is engaging in massive quantitative easing." William Poole, former Pres. of the St. Louis Fed
Benchmark 10-year Treasury yields post biggest decline since records started being kept in 1962. Bloomberg 3-18-09.
Oh yay, Team Obama. Every pauper a trillionaire, just like Zimbabwe. Great plan!
Thursday 19 March 2009
MUGABENOMICS at the FOMC..........by Rico
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"The best way to destroy the capitalist system is to debauch the currency."
-Vladimir Lenin
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