US Patriots Message Board › Destruction Of The Dollar: Fed To Print Another $2 Trillion To $3 Trillion
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The Beginning Of The End
Destruction Of The Dollar: Fed To Print Another $2 Trillion To $3 Trillion
This afternoon the Federal Open Market Committee announced that the Federal Reserve will print an additional $45 billion a month to purchase treasury securities in addition to the $40 billion a month announced in September to purchase mortgage backed securities. In other words, the Fed will be increasing the money supply by $85 billion a month, or $1 trillion a year.
Fed chairman Ben Bernanke stated: “The conditions now prevailing in the job market represent an enormous waste of human and economic potential.” He went further to say that the Fed plans to “maintain accommodation as long as needed to promote a stronger economic recovery in the context of price stability.” The fed plans to continue purchasing treasury securities in order to keep interest rates low until unemployment declines to 6.5%, which the Fed predicts will take until 2015.
In other words, the Fed Open Market Committee believes that the economy is so weak, even after $6 trillion in Obama debt, the Obama stimulus and other failed Obama economic policies, that additional monetary stimulus is needed. This spells disaster for our currency.
Four years ago, M1, the total money supply of the United States, was $800 billion. Then he Federal Reserve in an effort to spur economic growth embarked on a quantitative easing, which came to be known as QE1, and printed of $1.7 trillion. The reason it ended up being called QE1, is because Fed Chairman Ben Bernanke decided another quantitative easing was needed, which was called QE2 the printing of another $500 billion, bringing the money supply to over $3 trillion. Even after an $835 billion Obama stimulus, close to $6 trillion in Obama deficits and the $2 trillion in QEs, Ben Bernanke was still very worried about the economy and job creation. So in September, he embarked on QE3, the printing of $40 billion a month. Now the Federal Reserve believes that this will not even be enough and today has announced the printing of $85 billion a month, or over $1 trillion a year.
The Money Supply Will Go From From $800 Billion In 2008 To $6.2 Trillion By The End Of 2015: A 2015 Dollar Will Be Worth Only 13 Cents
What we are seeing is the wholesale destruction of the dollar, our savings, our paychecks, our economy, our futures and the futures of our children. The money supply in 2008 was $800 billion. After QE3, it will surpass $6 trillion, almost eight times the amount of money in circulation from just a few years ago. A 2015 dollar will only be worth 13 cents.
The Beginning Of The End
The alarm bells should be ringing all over America. The Federal Reserve is monetizing Obama’s trillion dollar deficits. Gasoline prices and food prices are already through the roof. This action will further accelerate the theft of our seniors’ retirements, our citizens paychecks and the poorest among us of their ability to purchase simplest of necessities.
What will the Obama Administration try next? In addition to using inflation, will his administration try to directly confiscate our savings and retirement plans to pay for his out of control spending by forcing us to buy treasury obligations? Will his administration try to confiscate our personal property by imposing a tax on our assets?
This is the price of the Obama insanity: $6 trillion in debt and counting, our dollar destroyed, chronic high unemployment, our country on the edge of insolvency, and stagnation and misery for as far as the eye can see.
When countries monetize debt on this scale, it is the beginning of the end.