The Phaserl


Federal Reserve policy risks catastrophic loss of confidence in the dollar

from Gold Money:

The Federal Reserve confirmed on Wednesday what many expected: that come the end of Operation Twist at the end of this year – the scheme whereby the Fed sells its stock of short-term Treasuries in exchange for long-term Treasuries – it will print new money to buy long-dated Treasuries. Asset purchases will total $85 billion a month ($40 billion’s worth of mortgage-backed securities purchases, plus $45bn of long-dated Treasuries).

The FOMC noted that such purchases will continue until specific unemployment and inflation targets have been met.

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