Federal Reserve Goes Bananas

Mike Larson writing for Money & Markets Investment Service said today, “The Feds decision to print money and use it to buy our own debt is Banana Republic type stuff”. He said, “it is deliberately devaluing our Country’s currency, and screwing our foreign creditors who we depend on to buy our Treasury Bonds to fund our massive debt.” Our inflation rate is now at 13%, these infusions of fiat currency will cause inflation to rise. At this late rate, even if the government never spent another penny, today’s dollar value would be worth zero in purchasing power in 7.5 yrs. An inflation rate of 25% would destroy the dollar in 4 years. Hyper-inflation is when prices rise on a daily or weekly basis, but by then its far too late.

Even some democrats are becoming concerned. Rep. John Lewis (D-Atlanta) who oversees the bailout said 13 firms receiving money had not paid back taxes totaling $220 million dollars. And Obama’s Treasury Sec Tiny Tim Geithner was caught in a lie about his knowledge of AIG bonus payments using bailout money. Plus Georgia’s unemployment rate jumped in February to 9.3% with 445,000 Georgians out of work. The bad news increases daily as many are calling for Geithner’s resignation. But Obama says he’s going to stick with Tim even though he’s a one man Treasury Dept. Obama has been unable to find anyone to take the 17 vacant assistant positions at Treasury.

Keep on printing that money man...

Submitted by mysteryman on Sat, 03/21/2009 - 5:15pm.

And before long well all be walking around with a thousand dollars in our pocket and not even be able to buy groceries for a week. The Govt is the one who let banks issue credit cards back in the 70s paving the way for hyperinflation... Keep this up and a gallon of milk will be $39.95 and a loaf of bread $15.00. Now thats CHANGE YOU CAN BELIEVE IN.... PEACE...

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Ain't I been telling ya'll the FED is the culprit?

Submitted by DarthDubious on Sat, 03/21/2009 - 10:39am.

It is a PRIVATE CORPORATION. It has never been audited, and does not answer to anyone, it is at the top of the pyramid!

In Liberty,

DarthDubious

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Shadow: Our Head Tax Cheat geitner

Submitted by skyspy on Sat, 03/21/2009 - 7:24am.

He had one candidate for his dept. who as it turns out was a tax cheat just like our lead coyote in charge of the hen house. So that person withdrew. Of course the media buried that story, I can't remember the person's name.

This is change. From the bailouts for buisness flunkies to printing money in order to lower the value of the dollar...this is change.

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The President

Submitted by Fred Garvin on Sat, 03/21/2009 - 8:48am.

The president, his cabinet, the democrats and some republicans in congress are taking our country right into the toilet. It's obvious that he doesn't have a clue as to how to fix this mess and is making it up as he goes along.

For now, the best solution would be to stop printing money and put a moratorium on all income and corporate taxes.

The president also offered an open hand to Iran. Iran once again spits in his face, giving lots of power to the crazies in charge there. I’m just glad we have hope and change now. I’m glad that mean old GW Bush isn’t in charge any more. His policies suggested that the leadership in Iran are unreasonable people who cannot be dealt with.

This nonsense has gone on long enough. Call your Senator and Congressman and demand changes before the president destroys our country.

The United States of America
July 4, 1776 - Jan 20, 2009
Rest in Peace

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