U.S. Will Roll Out QE3 After S&P Rating Cut, Li Daokui Says Q By Bloomberg News - Aug 6, 2011 3:24 AM ET
inShare 5More Print Email The U.S. Federal Reserve will extend its program to purchase the nation’s debts and stabilize long- term interest rates after Standard & Poor’s downgraded its credit rating, according to an adviser to China’s central bank. The Fed will roll out quantitative easing 3, a tactic to purchase treasuries, Li Daokui, an adviser to the People’s Bank of China, wrote in his microblog weibo.com. Institutional investors will be forced to sell long-term U.S. debt, which may cause financial turbulence, he wrote. S&P lowered the U.S. rating one level to AA+ from AAA for the first time yesterday while keeping the outlook at “negative,” citing the nation’s political process and criticizing lawmakers for failing to cut spending enough to reduce record budget deficits. The rating may be cut to AA within two years if spending reductions are lower than agreed to, said the New York-based rating firm. The U.S. must address its “structural debt problems” and ensure the safety of China’s dollar assets, the state-run Xinhua News Agency said in a commentary today. China is the biggest holder of U.S. debts. “The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered,” Xinhua said in the commentary. S&P’s decision is “telling the global investors the ugly truth.” Chinese Foreign Minister Yang Jiechi said yesterday the risk of a U.S. sovereign debt default is increasing, according to an interview he gave to Polish media and posted on the ministry’s website.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Great, so we're so broke that the illegal bank that actually runs our country is going to print more money to devalue what we have sitting in our wallet already to pay off enough of the debt.
Great, so we're so broke that the illegal bank that actually runs our country is going to print more money to devalue what we have sitting in our wallet already to pay off enough of the debt.
I'm hoping that we just don't have all of the info and that they know what they are doing. Cause I personally think this is just plain NUTS! But what do I know....I'm just a lowly taxpaying peon.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Great, so we're so broke that the illegal bank that actually runs our country is going to print more money to devalue what we have sitting in our wallet already to pay off enough of the debt.
Pretty much, between the treasuries and all the bad assets they took over nothing good can come out of it. Our dollar will continue to decline in this chaos of printed money. Austrian economists have it right, we won't default on our debt but we will default on our currency when it's purchasing power turns to nothing People here and around this country better start thinking ahead just in case the worst happens, I sure as hell ain't going to be around this city if the SHTF.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Maybe they can print some of that funny money for the folks who are losing their homes. Dimwits!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
This line in the story was interesting "The question right now is if gold will be allowed to move much further. "
It is known that other commodities are being manipulated in a attempt to calm fears, prices that should have skyrocketed also are being held back.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Logged
People here and around this country better start thinking ahead just in case the worst happens, I sure as hell ain't going to be around this city if the SHTF.
