“One myth that’s out there, – is that what we’re doing is printing money. We’re not printing money. The amount of currency in circulation is not changing. The money supply is not changing in any significant way,” Bernanke said on December 5th.
Is the majority of the American public gullible enough to believe the Fed’s gimmicks? Unfortunately, the answer is yes. Most Americans haven’t even heard of QE. However, they are aware that the cost of gasoline is 50-cents /gallon higher at the pump, than it was a few months ago. But do they realize that the increase is linked to the Fed’s QE-2 scheme? Do most Americans realize that higher gasoline prices are paid, to fund the Fed’s insurance policy to prevent further job losses?” Read more.
“The Fed’s QE Scheme Begins to Backfire”
Seeking Alpha, December 15, 2010.
Image by Paul / FreeDigitalPhotos.net.