Saturday, November 13, 2010

The Federal Reserve is gonna bankrupt our country

In the news a few days ago the federal reserve announced that they are going to do something to fix our economy. I could tell you word for word what the plan is, but that is sooo boring and might go over your head, so ill break it down in a simple way. The federal reserve is going to buy up some of our debt, and therefore become the 2nd highest owner of US debt(CHina is number one) by buying up these bonds. The name of the plan is called Qualitative Easing, and the Fed is planning to buy up 600 billion of our debt.The problem is WE DONT HAVE ANY MONEY, and were buying up MORE DEBT. In order to pay for this they have to print out more money, and the more money you print out, the less the money we have is worth. BAck in the 60's 7 dollars then is worth 56 dollars now. Our dollar is losing value and this move is going to destroy the dollar. The federal reserve needs to be audited or looked at deeply because they are a private company operating our money, not to mention they are super corrupt. Having a private company operating our money is like giving Captain Crunch complete control the US armed forces, its absolutely retarded. And you can easily tell they are corrupt because if they weren't they wouldn't mind being audited. But they know once the audit happens the truth about the missing 20 trillion, the banker bailouts, and all this stuff is going to come to light. I fully support Ron Paul and the End the Fed movement and believe that Obama instead of nationalizing the auto industry should nationalize the federal reserve. Ben Bernanke is pretty much a Bernie Madoff X10 and we are still letting him steal our money and destroy our dollar. Enough is Enough!
Other reading if your interested:

Update: I found a video that kinda explains QE in a pretty simple way

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