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Old 11-12-2010, 11:56 AM   #26
alexamenos
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your vote really doesn't matter...

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Quote:
...the Committee intends to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month.
That's a fancy way of saying that the Federal Reserve is going to print $600 billion fresh new dollar bils and give 'em to persons other than you to spend as those persons see fit.

This $600 billion....an amount equal to 20% of GDP....necessarily reduces the value of the money in your wallet, the purchasing power of your income. It is a tax on you, a taxation for which you have no representation. It is bigger and more significant than anything the new twits or the old twits in congress will do. Your vote this past November 2nd really didn't matter.
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