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September 16th, 2012 
FAKE NEWS for the Zionist agenda
Ready or not, QE3 is here, and the long-term effects of this reckless
money printing by the Federal Reserve are going to be absolutely
nightmarish!
~ Michael Snyder – Related articles
The Federal Reserve is hoping that buying $40 billion worth of
mortgage-backed securities per month will spur more lending and more
economic activity. But that didn’t happen with either QE1 or QE2. Both
times the banks just sat on most of the extra money.
As I pointed out the other day, U.S. banks are already sitting on $1.6 trillion in excess reserves. So will pumping them up with more cash suddenly make them decide to start lending? Of course not.
In addition, QE3 is not likely to produce many additional jobs. As I showed in a previous article,
the employment level did not jump up as a result of either QE1 or QE2.
So why will this time be different? But what did happen under both QE1
and QE2 is that a lot of the money ended up pumping up the financial
markets.
So once again we should see stock prices go up (at least in the
short-term) and commodities such as gold, silver, food and oil should
also rise. But that also means that average American families will be
paying more for the basic necessities that they buy on a regular basis.
The most dangerous aspect of QE3, however, is what it is going to do
to the U.S. dollar. Most of the rest of the world uses the U.S. dollar
to conduct international trade, and by choosing to recklessly print
money Ben Bernanke is severely damaging international confidence in our
currency.
If at some point the rest of the world rejects the dollar and no
longer wants to use it as a reserve currency we are going to be facing a
crisis unlike anything we have ever seen before. The real debate about
QE3 should not be about whether or not it will help the economy a
little bit in the short-term.
Rather, everyone should be talking about the long-term implications
and about how QE3 is going to accelerate the destruction of the dollar.
The following are 10 shocking quotes about what QE3 is going to do to America….
#1 Ron Paul
“It means we are weakening the dollar. We are trying to liquidate our
debt through inflation. The consequence of what the Fed is doing is a
lot more than just CPI. It has to do with malinvestment and people doing
the wrong things at the wrong time. Believe me, there is plenty of
that.
The one thing that Bernanke has not achieved and it frustrates him, I
can tell—is he gets no economic growth. He doesn’t do anything with the
unemployment numbers. I think the country should have panicked over
what the Fed is saying that we have lost control and the only thing we
have left is massively creating new money out of thin air, which has not
worked before, and is not going to work this time.”
#2 Peter Schiff, CEO Of Euro Pacific Capital
“This is a disastrous monetary policy; it’s kamikaze monetary policy”
#3 Michael Pento, The Founder Of Pento Portfolio Strategies
“This is the nuclear option for them. This is a never-ending weapon that is being fired at the middle class”
#4 Donald Trump
“People like me will benefit from this.”
“Quantitative easing—a fancy term for the Federal Reserve buying
securities from predefined financial institutions, such as their
investments in federal debt or mortgages—is fundamentally a regressive
redistribution program that has been boosting wealth for those already
engaged in the financial sector or those who already own homes, but
passing little along to the rest of the economy.
It is a primary driver of income inequality formed by crony
capitalism. And it is hurting prospects for economic growth down the
road by promoting malinvestments in the economy.”
#6 John Williams Of Shadowstats.com
“That’s absolutely nonsense. The Fed is just propping up the banks.”
#7 Marc Faber
“I happen to believe that eventually we will have a systemic crisis
and everything will collapse. But the question is really between here
and then. Will everything collapse with Dow Jones 20,000 or 50,000 or 10
million?
Mr. Bernanke is a money printer and, believe me, if Mr. Romney wins
the election the next Fed chairman will also be a money printer. And so
it will go on. The Europeans will print money. The Chinese will print
money. Everybody will print money and the purchasing power of paper
money will go down.”
#8 Mesirow Financial Chief Economist Diane Swonk
“I think this will end up being a trillion-dollar commitment by the Fed”
#9 Federal Reserve Chairman Ben Bernanke
“I want to be clear — While I think we can make a meaningful and
significant contribution to reducing this problem, we can’t solve it. We
don’t have tools that are strong enough to solve the unemployment
problem”
#10 Credit Rating Agency Egan-Jones
“[T]he FED’s QE3 will stoke the stock market and commodity prices,
but in our opinion will hurt the US economy and, by extension, credit
quality. Issuing additional currency and depressing interest rates via
the purchasing of MBS does little to raise the real GDP of the US, but
does reduce the value of the dollar (because of the increase in money
supply), and in turn increase the cost of commodities (see the recent
rise in the prices of energy, gold, and other commodities).
The increased cost of commodities will pressure profitability of
businesses, and increase the costs of consumers thereby reducing
consumer purchasing power. Hence, in our opinion QE3 will be detrimental
to credit quality for the US….”
We have reached a major turning point in the financial history of the United States.
It would be hard to overstate how much damage that QE3 could
potentially do to our financial system. If the rest of the world
decides at some point that they no longer have confidence in our dollars
and our debt then we are finished.
Sadly, the mainstream media does not seem to understand this, and
most Americans gleefully believe whatever the mainstream media tells
them.
Michael Snyder – September 15, 2012 – posted at TheIntelHub
Related article…
Full Text: Fed Statement On QE3
As Predicted, Bernanke Launches QE3 to Help the Big Banks … Which Will Destroy the Economy
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