Fed props up economy with TONS of new cash
According to Axis of Logic:
Three separate sources in the U.S. Treasury have told me that this week, the federal reserve ordered TWO TRILLION dollars to be printed! The U.S. Treasury is allegedly running printing presses 24/7 to accommodate that order. Treasury employees were specifically ORDERED not to talk about this to anyone because it could cause economic collapse.If you think they're printing this money to prop up the physical economy, think again.
Even worse, I was also told that the whole Immigration Amnesty Debate (especially the well-funded well-attended protests) was deliberately scheduled to take place now, to divert attention from this massive printing/devaluation of the U.S. Dollar. The feds allegedly figured that by the time anyone found out, they could smooth things over. They figured wrong. Surprise, boys, you've been exposed!
This just in from the editors of Axis of Logic:
Editor's Note: On 3/28/06 we published an article which stated that the Federal Reserve has ordered 2 Trillion dollars to be printed by U.S. mints. We mistakenly published this text instead of the one we meant to publish (below) from Free Market News. The report on the Fed's printing of 2 Trillion Dollars is not adequately supported with sources and supporting factual information. Therefore we pulled that article today, March 29, 2006 and replace it with the article we meant to publish. We apologize to our readers for this error on our part. - LMBI'm not sure that it makes much of a difference though since, as the article from Free Market News points out, "The Federal Reserve can create new dollars out of thin air."
Bottomline, it doesn't really matter whether they print it, or issue it as "credit." Increasing the volume of money/credit devalues the money in circulation.
Besides, things are happening very fast and chances are, there is a grain of truth to this news after all.
Finally, adding tons of money to the economy is not unprecedented.