Forum Post: Dollard now stagnate, looking to begin decline as Fed kicks off new printing
Posted 11 years ago on Nov. 20, 2012, 3:23 p.m. EST by GNAT
(150)
This content is user submitted and not an official statement
The printing of money is devaluing the dollar. Had the Fed not engaged in currency devaluation, the purchasing power of the working class would have increased dramatically, which would have fueled a recover. Instead the Fed is printing money and handing it over to failing banks. The protection of the banks has come before the needs of the country and at the cost of the working class in the forum of decreased purchasing power. Obama has allowed this continue and the media has ignored it all together.
The media hasn't ignored it - they know all about it but refuse to report it - CNN MSNBC are the two worst when it comes to reporting news that will "offend Obama".
Fox continually gets criticized but they are being criticized because they are reporting - not ignoring nor being concerned about "offending Obama".
I guess Chris Mathews had another tingle go up his leg when Obam was re-elected.
So Fox is good, & the rest are bad? LOL
I thought the FED was independent? Is everything Pres Obamas fault. And how do YOU know what would have happened?
You offer nothing convincing. Just anti Obama partisan attacks.
I'm against theFed helping the banks butI know the only answer to the economic problems are:
Creating jobs, (pressure repubs to pass jobs bills), cut taxes/debt forthe working class, (pressure repubs to cut taxes on working class), higher wages (pressure repubs to raise the minimum wage & implement a living wage.
Repubs are the problem, refocus your outrage to them!
The Fed is not printing money simply to hand over to failing banks; they are printing money to buy bonds because government can't finance its debt. This increases the value of bonds, pushing down long term interest rates for government. We suffer a devalued dollar which causes us to contract spending even further, which further slows the dollars moving through our economy.