It really annoys me how governments can put positive spins on things. Let’s look at a quote from CNN from October 15, 2010. “But Federal Reserve Chairman Ben Bernanke’s comments Friday set the stage for the Fed to announce plans to purchase additional assets at its next meeting – a two-day meeting that concludes November 3rd. The Fed has purchased nearly $2 trillion in assets over the last two years in an effort to pump money into the economy, a policy known as quantitative easing.”
So what “assets” are they purchasing? US treasury bills. If we follow this comment to its logical conclusion, it should read, “The US Federal Reserve set the stage for the US Treasury department to print more money over and above the $2 trillion they’ve printed in the last 24 months.
It’s interesting how it appears that this is a good thing when in actual fact it’s just the government magically creating more money by lending it into existence.
When is this deception going to end?