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From now on, think of the US as a bigger Zimbabwe

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posted on Mar, 22 2009 @ 12:43 PM
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From now on, think of the US as a bigger Zimbabwe


www.telegraph.co.uk

For readers who may not know, Mr Gono is governor of the Central Bank of Zimbabwe. He'll be feeling particularly pious this weekend – as the mighty US has, indeed, just started printing money. We're supposed to call it "quantitative easing", I know. But if Mr Gono can tell it as it is, why can't we?

On Wednesday, the Federal Reserve finally pressed the panic button – unveiling plans to buy $300bn (£210bn) of treasury bills. The US government will also purchase an extra $750bn of dodgy sub-prime securities from investors stupid enough to own them (on top of $500bn already pledged).
(visit the link for the full news article)




posted on Mar, 22 2009 @ 12:44 PM
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An interesting comment on the situation, especially after the analysis from Glenn Beck over at FOXNews.

According to some investors and economists, the United States is guaranteed at least double-digit inflation but others fear worse. The key to quantitative easing, is removing the extra cash at the perfect timing.

Failure leads to hyperinflation.

In fact, the Chinese, Russians and some European nations believe the Dollar faces an holocaust - CNBC and Bloomberg openly discussed a potential collapse.

www.telegraph.co.uk (visit the link for the full news article)



posted on Mar, 22 2009 @ 12:46 PM
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Although Glenn Beck is hysterical...
I think that to me the real lesson here is that the Federal Reserve is a Central Bank. It was implied but some people still don't understand, and maybe if we all brought it out into the open we could do something about it.



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