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» Another Theft By The Federal Reserve:

Another Theft By The Federal Reserve

Posted by on November 3, 2010 at 4:44 pm.

Ben Bernanke and his den of thieves at the Federal Reserve announced another $600 billion in quantitative easing today. Bernanke calls it QE2.  Bill Gross (the head of this  country’s largest bond fund) calls it a ponzi scheme. I call it theft. QE2 is a money printing scheme designed by the bankster elite to quietly pick the pockets of hard working Americans.  Bernanke actually asked the banksters how much they needed.  Treasonous? Zero Hedge thinks it is: http://www.zerohedge.com/node/230088/685588  The Fed said it would buy about $75 billion in longer-term Treasury bonds per month until the middle of next year. Who pays the interest on these bonds? The U.S. taxpayers. Who benefits from this scam? The banking elite who will get even lower interest rates on the money they borrow. Interest rates of 1/4 percent are great when you can charge your Main Street customers 5 percent on their mortgage and 20 to 30 percent on their credit cards. Where does the 600 billion come from? It comes right out of thin air. Eventually all of this money printing will cause inflation, resulting in higher food, clothing, education and fuel prices for all of us. The lower interest rates also screw retirees who try to live off of the interest paid out on their life time savings. It also hurts pension funds that try to get a decent rate of return on their investment. If you wonder why your pension plan won’t allow you to retire until you’re 67, thank the Fed. Lower rates mean it takes longer for your pension fund to grow. It also forces pension fund managers to invest in riskier investments such as stocks and mortgage back securities. Many pension funds took huge hits by investing in mortgage back securities that went belly up. Less money in the pension fund means you will have to work longer before you can retire. If you think the Federal Reserve doesn’t affect you, think again.
For in depth information on the Fed’s latest scam, read the Zero Hedge article: http://www.zerohedge.com/node/230088/685588 or go to the Hammering Truth video page and watch the November 2 Max Keiser Report.

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