What Will QE2's Legacy Be?

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.Some people think the Federal
Reserve Banks are United States Government institutions. They are not Government institutions. They are privatc credit monopolies that prey upon the people of the United States for the benefit of themselves and their foreign and domestic swindlers; and rich and predatory money lenders.
No Congress, no President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank. Yet there is a catch “ one that President Kennedy recognized before he was slain
The original deal in 1913 creating the Federal Reserve Bank had a simple backout clause. The investors loaned the United States Government $1 billion. And the backout clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight.
President Kennedy Dismissed The Federal Reserve System.Kennedy Was Dead
Three Weeks Later. When President Lyndon Johnson took office, he immediately
rescinded Kennedy's order and the Federal Reserve won another round.

alex of LA 4:32PM July 04, 2011

Because the United States is a sovereign nation with full monetary authority, it has the power to issue all the money we need or want. The Federal reserve is not only unnecessary. It is responsible for the greatest financial crisis in history.
The national debt is an unnecessary, discretionary welfare program for banks, bankers and Wall Street traders.
The Fed simply issue credit to itself, using that credit to buy government bonds, creating a national debt and charging us interest on our own money. In the past twenty years, we, the taxpayers, have been charged more than $8 trillion in interest, 75% the accumulated national debt. All this, because we delegated our sovereign monetary authority to an assemblage of privately owned corporations, and then borrowed our own money.
Never have so many, paid so much, to so few, for so little.
Q.E.11 is a clear example of the workings of this corrupt system. Because the Fed wants to put money into the banks, it is buying $600 billion in long term bonds from banks and brokerage houses at face value. The banks and brokerage houses, in turn, buy these bonds from the treasury department at discount prices, discounted on the order of 35% for ten year bonds, the bankers pocketing the difference as profits, profits amounting to more than $200 billion on the total sale. The New York Times reported the top 25 Wall Street banks and brokerages paid salaries and bonuses of more the $135 billion to the traders.
In ten years, when these bonds mature, the banks will replace them with new bonds also purchased at a discount. Presenting the mature bonds to the treasury, the banks will be paid the face value of the bond, giving them full interest on the bond. At the end of twenty years, the government has paid the banks more money than they borrowed.

BILL PARKS of MD 9:54PM March 12, 2011

I don't get Bernanke. He prints more money. Nothing happens. He prints even more money. Nothing happens. Why not just keep the presses rolling for ever??? Because the QE effects will play out YEARS FROM NOW. Not next quarter. I think Ben's models need some adjustment.

Gary of PA 11:36AM February 03, 2011