Blog von fugaL

Edit: I got confused on the dates of my sources, which then used relative dates to refer to the event. It was in fact on Wednesday, 18 Mar 2009, that the Fed's actions took place.

Last ThursdayWednesday, as Glenn Beck calls it, was history. Not good history, no this is bad. Remember Zimbabwe? Ever heard the phrase "Not worth a continental")? Well welcome to the future, hyperinflation.

What happened ThursdayWednesday? $1 trillion dollars, new dollars, were printed, IN ONE DAY! The Federal Reserve "bought" a bunch of IOU notes from the US Treasury, and for it paid $1 trillion, in money it just printed out of thin air. "What?? " you say? Yes, the Fed bought debt the US Government didn't have, using money the Fed didn't have, all so that we can be poorer for it.

On ThursdayWednesday gold shot up over 6% in one hour. Likewise silver shot up over 8% in one hour. This is not because the value of gold and silver went up. The value of the dollar went down, dramatically. If you thought your 401K evaporated with the banking crisis, you ain't seen nothin' yet. Get out of the dollar, and then like me you can welcome the inevitable collapse, and finally a return to sanity!