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From Robert Firth, FL

Posted on | April 19, 2009 | Comments Off on From Robert Firth, FL

 

Quantitative easing ex nihilo

 

If you don’t know what this means you are a fool and dupe. Not to worry, you’re not alone, 99.9% of all Americans are too. If you care about your country and have any money in savings you will want to pay special attention to this.

 

“Quantitative easing ex nihilo” in economic terminology literally means printing money from nothing. This kind of money is supposed to stimulate the economy. In particular, this stupidity is supposed to promote lending by banks. Quantitative easing is usually employed when lowering of the official interest rate is no longer effective because it’s already close to or at zero as it is today. It is also used when there isn’t anymore tax money and the government can’t sell off any more debt.

 

Quite simply, because the government wants money and doesn’t have any, obama is just printing counterfeit money and shoveling into the country by the billions. Economics 101 teaches that this kind of insanity can have but a single outcome- massive inflation!

 

If you don’t understand this perhaps you’re not smart enough to be reading this section and better find the cartoons. Or maybe just assume a fetal position and continue life with your head in the sand.

 

While the Tea Party attendees and conservatives continue squealing about the endless bailouts and the detested welfare state, believing that the obama’s promises are funded by actual taxpayer cash, Chairman Bernanke has said that the Fed is, in fact, funding the bailouts not with tax money ( that’s all gone) but using a process “more like printing money than borrowing.”  Wanta guess what he was talking about? Do the words “Quantitative easing ex nihilo” mean anything now you poor smuck!

 

The average guy reading this article, or even the most sophisticated fiscal conservative, may not even think twice about this issue. They don’t care, should they, isn’t it the Fed’s job to print money? Under normal circumstances they might be right but today, obama’s ‘quantitative easing’ scheme means the end of the dollar. Does he have the right to crank up the presses to the detriment of our economy? Isn’t this currency debasement (a kind of counterfeiting on a massive scale).

 

China warned us not to use the printing presses to cure this financial crisis and they are right. They have perhaps the most to lose by unstoppable inflation. China today holds more dollars and American debt than anyone worldwide.  What obama is doing is plain stupid and may well force China to begin dumping  dollars and our debt. (while it still has some value). When China balks at picking up anymore US debt, it’s game is over!

 

You, as taxpayers, have every right to be angry over the bailouts. You and your children are going to be working to pay this massive debt for generations to come. But, you should be absolutely outraged and screaming your heads off that obama is cranking up the presses to the tune of some $2++ trillion to pay for his grotesque budget and cover his massive socialistic programs. Obama is using the presses to pump phony money into businesses whether they want it or not, forcing de facto socialism onto the capitalist system, and you dummies are paying for it. Are you paying attention! Every dime you have saved could soon be wiped out. Oh, did you vote for “change” by the way?

 

Robert Firth

Boca Raton Fl

561 852 3989

 

Category: Letters/Feedback from Readers

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