Gloomy Fed pulls trigger on more economic stimulus

story from The Raw Story
By Agence France-Presse
Wednesday, June 20, 2012

Gloomy Fed pulls trigger on more economic stimulus
In response to a continuing economic subpar growth, the Federal Reserve has decided to extend its "stimulus" that somehow tries to stabilize bond interest rates.

Apparently they are predicting a worse economy than before.

One thing they mentioned was the slower progress in reducing unemployment.

They have been doing this for some time now......it looks like it isn't working.

WASHINGTON — The Federal Reserve unleashed a fresh wave of economic stimulus Wednesday as it predicted subpar US growth would be even worse this year than thought.

After a two-day meeting the Fed doubled down on a program to lower long-term borrowing costs, as it sharply revised down 2012 growth projections to between 1.9 and 2.4 percent.

That was a half point cut from predictions made as recently as April this year, when cautious optimism reigned......

How does all this Fed action

affect the average American citizen ?

Or is it all for the bankers and high finance people ?

I don't think it does anything for the average guy on the street except give those of us figuring for collapse a few more months (or maybe just weeks) to get some groceries stashed.

It's the same nonsense over and over again. As a nation we're just running around in circles chasing our tails, not actually getting anywhere.Are the FED and banks manipulating the system in order to steal the wealth of Americans? I think so, and they'll continue to do it so long as they're allowed.As usual with your threads S&F

If we look at the Fed's track record, well, it's pretty dismal. In fact, it's not only dismal, but it seems that they couldn't have done anything worse than what they've done. Also, realize that the "Fed" is a privately-owned conglomeration of banks, not truly accountable to the US gov or us citizens. It's one of the biggest lies around: they are NOT federal. Yet they have the "authority" to print money? Only the US Mint is allowed to print money according to my understanding of the constitution. I might be wrong on that since it's been a while since I've reviewed the specifics, but that's what I remember, yet the Fed can print money. Also, banking in general is a scam.

One bank with $10,000 liquidity (cash) can lend out far more than $10,000 in loans. $10,000 in cash allows banks to lend smaller amounts (say, $2,000, $8,000, $9,000 or even $10,000) in loans to different people. It just "voila!" created cash from nowhere. --You see, they'll get the interest for those loans up front before the principle of those loans is paid off, so the BET is that you won't default on your loan, and the bank just got a LOT MORE interest from all the loans which exceeded how much money they actually had on hand. The entire banking system is a scam because this is allowed to happen every day. Check out the site for "THRIVE," a DVD/Blu-ray produced by the son of famous Proctor & Gamble (he didn't have to research all these things; he could have just lived a life of luxury, but he felt a calling to expose the world to a lot of neat ideas out of the box):


www.thrivemovement.com...

In fact, you might be able to watch parts of this well-researched documentary. The point is that no matter what the Fed does or does not do, no matter what the rich elite of the banking industry do or don't do... It's all geared toward keeping "commoners" distracted by polarized politics and anger; the most fantastic wine and circus spectacle since Roman times; and the need to work so hard to survive that you cannot focus on the grander issues around us. Look beyond the curtain of the reality "they" have set around you, and you may see how wondrous and different the world around you really is.

What's happening is game over. The Fed knows this is a dead stick but what folks don't realize is that they are screwed with us, so they are trying to keep it afloat long enough to insulate themselves from the fall.

Or.. it could be that that they have no idea. Everyone was running hog wild, without foreseeing the incoming crap storm.. yea right. That's their job, it's what they do. They knew exactly what they are doing. What's going on is that inflation is kicking in and they knew it. The banks put it into place. Remember the great depression, which was artificially created imo (the big banks bought out the small banks and uncle sam). I wonder why they confiscated all that gold. That's very.. IMFish ya know.

Heh, the money that is used to pay government works (like when you turn it into hand cash) is where the Fed steps in. And that dollar bill you put into your pocket was given to the Gov via a loan by the Fed. All goes down . The debt ceiling as been around since the 50s! Your telling know it's gettin outta control? No alarm bells say.. 50 years ago..

Originally posted by Erectus
I don't think it does anything for the average guy on the street except give those of us figuring for collapse a few more months (or maybe just weeks) to get some groceries stashed.

That may be all you get, but I doubt you will know when it really happens. You can plan for it, but expect it to happen over night.

Once these idiots start printing money and flushing the system, my feeling is here comes hyper-inflation and the collapse of the dollar. My question to all of you is, is this some large, diabolical plot or are they just unbelievably incompetent? I used to be a firm believer in the plot theory but now I'm leaning toward incompetent.,

I think they've all been in the game for personal riches. I don't think they planned to sink everything, but that it is just an innevitable consequence of their shell game. I don't think it is so much incompetence. Surely they knew this would eventually happen. They just didn't care. They've done an amazing job of pushing the collapse off into the future. I thought for sure they wouldn't save the economy back in '08, but they did.....for a minute. I think our minute is about up. I'll allow a chance, though, that they keep this going for another 24-36 months. But I'm not betting on it.

Originally posted by Erectus
I think they've all been in the game for personal riches. I don't think they planned to sink everything, but that it is just an innevitable consequence of their shell game. I don't think it is so much incompetence. Surely they knew this would eventually happen. They just didn't care. They've done an amazing job of pushing the collapse off into the future. I thought for sure they wouldn't save the economy back in '08, but they did.....for a minute. I think our minute is about up. I'll allow a chance, though, that they keep this going for another 24-36 months. But I'm not betting on it.

I just can't wrap my head around why you slaughter the cow thats giving you milk twice a day? Surely they had to think, jeez if I continue to do this I'll sink the whole friggin ship? How "F"ing stupid!