World Currency, here we come. More power to the central banks around the world. Let us all unite and live like in "1984". That is the scenario we will have if we don't trash the Fed soon.
FED have already bought $237B and plan to buy another $300B. http://online.wsj.com/article/BT-CO-20090805-715003.html NEW YORK (Dow Jones)--The Federal Reserve Bank of New York announced Wednesday its latest round of Treasury debt purchases. The securities are being bought as part of a program to stimulate economic growth by helping to keep longer-term borrowing costs down. The Fed has pledged to buy as much as $300 billion in Treasurys by autumn. It has already purchased about $237 billion in Treasurys. The Fed said that it would buy Treasurys in the maturity range of May 15, 2012, to Nov. 30, 2013, on Monday, Aug. 10. It also will buy the date range of Aug. 15, 2026, to May 15, 2039, on Aug. 11; Dec. 31, 2013, to April 30, 2016, on Aug. 17; and Feb. 15, 2020, to Feb. 15, 2026, on Aug. 19. -By Deborah Lynn Blumberg, Dow Jones Newswires, 212-416-2206; deborah.blumberg@dowjones.com
why doesn't anyone stop them, imagine someone borrows a huge sum from you [through treasury bills and bonds] and decides to print to pay you back [quantitative easing] and you [all the ones that purchased treasuries] just take it lying down?
Ron Paul suspects the FED loans money to foreign Governments to buy US treasury debt. Monetization is the only alternative when annual deficits are >1 Trillion and bailout packages are several multiples of that! Given the FED and other Central Banks are making strong overtures for a coordinated devaluation of all currencies, led by the US dollar (to reflate the junk), America is pretty much toast. When the dollar goes, it'll make Argentina look like a picnic.
was wondering what if the Fed buys up every assets in the world and everyone else ends up holding worthless dollars?