WHAT’S THE PROBLEM? We’re Loaded!– (QE3) Quantitative Easing No. 3 is HERE!
Following last week’s ECB move (European Central Bank) the Federal Reserve has announced its third round of large-scale asset purchases. The difference with this third round is that it does not place a limit on the amount it would buy or how long it would keep it going. Bernanke, chairman of the Federal Reserve, said that this latest QE will continue until the Fed sees “sustained improvement” in the labor market. So, I guess for now… we’re loaded!
(PS: It appears that Romney would not reappoint Bernanke. Bernanke’s term is up in 2014).
On September 6 I commented on Twitter about the Euro not being worth the trouble with the European Central Bank open-ended purchase of short-maturity government bonds. These are economic measures that continue to encircle and put pressure on European countries to give up their sovereignty, for the sake of a Socialist union. Loss of sovereignty is too high a price to pay, so I say– bring back the drachmae, the lire, the pesetas, etc. Even though it may be a very difficult economic path, rejecting Socialism and its evil programs will be the greatest chess move Europeans can make, before China moves in with a generous bailout offer– in exchange for a renminbi takeover.
SEP. 6 MarielenaSpeaks on Twitter about European Central Bank: https://twitter.com/MarielenaSpeaks/status/243782058009300992
PRESS RELEASE from Federal Reserve: http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm
Copyright © 2012 Marielena Montesino de Stuart. All rights reserved.