The Federal Reserve announced today that it would be purchasing $600 billion in U.S. treasury bonds to boost the economy in a program euphemistically called Quantitative Easing.
Thirty-year treasury yields hit their highest since the 5th of August after the Fed said in a statement at the end of a two-day Federal Open Market Committee meeting, that it will make 4 percent of its purchases in the 17 to 30 year notes.
The only boost to come, however will be to the Fed themselves. The Fed will collect interest payments on purchased notes from money created out of thin air; that is from money that they print.
What a great scam! It’s been going on since the inception of the Fed in 1913. How can I get a Federal Reserve franchise?
The most interesting aspect of the Fed is that since the beginning of the United States in 1792 after the ratification of the Constitution up until the inception of the Federal Reserve, the United States experienced a total inflation of 13% during that 126 year period. Since the Fed, 1913 to the present, (97 years) the inflation has been well over 2000%.
Now that’s what I call Quantitative Easing!
