WHAT is it going to take for America to realize that The Federal Reserve is a worse case of smoke and mirrors than the Usurper-In-Chief? WHAT? Since American Idol is getting bumped for AIG Bonuses and Chris Dodd, the distraction continues. Get ready for hyper-inflation folks – it is on it’s way. If you haven’t bought gold, silver, and two of everything that you are purchasing right now; better start doing it.
WASHINGTON: The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.
Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.
The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.
But there were also clear indications that the Fed was taking risks that could dilute the value of the dollar and set the stage for future inflation. Gold prices rose $26.60 an ounce, hitting $942, a sign of declining confidence in the dollar. The dollar, which had been losing value in recent weeks to the euro and the yen, dropped sharply again on Wednesday.
In its announcement, the central bank said that the United States remained in a severe recession and listed its continuing woes, from job losses and lost housing wealth to falling exports as a result of the worldwide economic slowdown.
“In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability,” the central bank said.
What did he say? “…promote economic recovery…”. Is that why we have had a great depression and some 12 recessions since The Fed started managing our economy, printing our money, and loaning it back to us at interest?
In addition, the Fed said it would buy up to $300 billion worth of longer-term Treasury securities over the next six months. That would tend to push down longer-term interest rates on all types of loans.
Is this their idea of reassuring China that our debt is good?
All these measures would come in addition to what has already been an unprecedented expansion of lending by the Fed. The central bank also said it would probably expand the scope of a new program to finance consumer and business lending, which gets under way this week.
In effect, the central bank has been lending money to a wider and wider array of borrowers, and it has financed that lending by using its authority to create new money at will.
Since last September, the Fed’s lending programs have roughly doubled the size of its balance sheet, to about $1.8 trillion, from $900 billion. The actions announced on Wednesday are likely to expand that to well over $3 trillion over the next year.
Okay, that’s enough. I am so *&$&*#$@# angry again I am going to be ill!
America – stop watching American Idol and stop paying attention to AIG, Dodd, Frank, and Congress. Start buying hard metals and stocking upbefore you can’t afford to buy anything.
Campaign urges members of military to ‘steel resolve’ to ‘do the right thing’
An invitation to soldiers and peace officers across the United States to pledge to refuse illegal orders – including “state of emergency” orders that could include disarming or detaining American citizens – has struck a chord, collecting more than 100,000 website visitors in a little over a week and hundreds of e-mails daily.
Spokesman Stewart Rhodes of Oath Keepers told WND his organization’s goal is to remind military members their oath of allegiance is to the U.S. Constitution, not a particular president.
He said the organization deliberately does not collect the names of those who subscribe to Oath Keepers’ beliefs because of their status mostly as active duty soldiers.
Rhodes said his goal is to “teach them more about what they swore to defend so they will be better able to see when an order violates the Constitution and the rights of the people, and is thus unlawful.”
That review must be done immediately, so they have an opportunity to decide what is right and wrong and then to “steel their resolve to take a stand and do the right thing, whatever the cost,” the organization says.
One testimonial posted by an active duty Army soldier, who was kept anonymous, said that message already has gotten through.
“I want you guys to know I’m with you 100 percent and so are a lot of my fellow soldiers. These kinds of discussions go on between us often, and we all know that we did not swear an oath to any politician (of either party),” he wrote.
“And just for the record not me or anyone else in my platoon would ever follow an order to disarm the American people,” he wrote.
The organization describes itself as a non-partisan group of members of the military as well as peace officers “who will fulfill our oath to support and defend the Constitution against all enemies, foreign and domestic, so help us God.”
Among the orders the soldiers are pledging NOT to obey:
We will NOT obey any order to disarm the American people. … Any such order today would also be an act of war against the American people, and thus an act of treason. We will not make war on our own people, and we will not commit treason by obeying any such treasonous order.
We will NOT obey any order to conduct warrantless searches of the American people, their homes, vehicles, papers, or effects – such as warrantless house-to house searches for weapons or persons. … We expect that warrantless searches of homes and vehicles, under some pretext, will be the means used to attempt to disarm the people.
We will NOT obey any order to detain American citizens as “unlawful enemy combatants” or to subject them to trial by military tribunal. … Any attempt to apply the laws of war to American civilians, under any pretext, such as against domestic “militia” groups the government brands “domestic terrorists,” is an act of war and an act of treason.
We will NOT obey orders to impose martial law or a “state of emergency” on a state, or to enter with force into a state, without the express consent and invitation of that state’s legislature and governor. … It is the militia of a state and of the several states that the Constitution contemplates being used in any context, during any emergency within a state, not the standing army.
We will NOT obey orders to invade and subjugate any state that asserts its sovereignty and declares the national government to be in violation of the compact by which that state entered the Union.
We will NOT obey any order to blockade American cities, thus turning them into giant concentration camps. … Such tactics … by the Nazis in the Warsaw Ghetto, and by the Imperial Japanese in Nanking, turn[ed] entire cities into death camps. Any such order to disarm and confine the people of an American city will be an act of war and thus an act of treason.
We will NOT obey any order to force American citizens into any form of detention camps under any pretext. … Such a vile order to forcibly intern Americans without charges or trial would be an act of war against the American people, and thus an act of treason, regardless of the pretext used.
We will NOT obey orders to assist or support the use of any foreign troops on U.S. soil against the American people to “keep the peace” or to “maintain control” during any emergency, or under any other pretext. We will consider such use of foreign troops against our people to be an invasion and an act of war.
We will NOT obey any orders to confiscate the property of the American people, including food and other essential supplies, under any emergency pretext whatsoever.
We will NOT obey any orders which infringe on the right of the people to free speech, to peaceably assemble, and to petition their government for a redress of grievances.
“We will not make war against our own people. We will not commit treason. We will defend the Republic,” the organization’s website states. “And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually affirm our oath and pledge to each other our Lives, our Fortunes, and our sacred Honor.”
Rhodes said the organization has not even had time to complete its website, but the word is spreading so quickly through its blog that thousands of people are investigating the site each day.
Plans had been to wait on the campaign until a website was established, but recent events accelerated the effort, he said.
Rhodes said the effort is not a response to President Obama or his policies.
He said the accumulation of power in the executive branch in recent years has been alarming. The fears crystallized when Obama took office and suddenly had access to the accumulated power.
That, he said, is a “powderkeg.”
“We do feel in our hearts that this effort has the potential to change history for the better and to forestall or even prevent this nation from ever experiencing the horrors that plagued so many other nations in the 20th Century,” the website says.
“We are convinced that it is not too late, that there can be a turning of the tide – if we (and that means you too!) can reach enough of our brothers in arms and remind them of their oath, teach them more about what it is they swore to defend, and steel their resolves to stand firm if/when their oath is tested. We feel honor bound to do all we possibly can to achieve that mission.”
Bloggers: Please make this news and video go viral…