So, in typical progressive fashion, our elite ruling class decided to enact globalism nefariously, printing billions upon billions of greenbacks and covertly channeling the cash to foreign banks. Say hello to QE2:
In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!
You can access the original article through my link (I won't link to them because, although they're smart and savvy financially, some of them are also creepy Jew-haters).
Sorry to say that this is not really a surprise. The Fed has been more concerned with global, rather than American, problems for quite some time now.
ReplyDeleteRemember that the QE1 and QE2 did not only prop up foreign banks, but actually did direct harm to US citizens, as dollar each of us owns is now worth less, and every price we pay has risen because of that.
Isn't the goverment supposed to have oversight of the Fed? So this happened with the Obama administration's blessing?
ReplyDelete