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Can our economy be saved by having the Fed print ever more money and buy ever more mortgage bonds and Treasury bonds

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Synopsis of a report by financial analyst Martin Weiss:

If Fed Chairman Ben Bernanke honestly believes what he said at Jackson Hole on Friday -- that he can save the economy by essentially printing more money and buying more bonds -- he's "gone round the bend."

Consider the facts, Ben: Through the first quarter of this year, you and your Fed created $1.5 trillion of paper money and bought $1.5 trillion in mortgage bonds, government agency bonds, and Treasury bonds. And yet the entire effort was a dismal failure; the U.S. economy is still sinking and most large American banks are still weak.

The underlying reason for this sinking and this failure is this: While the government has been borrowing massively, nearly everyone else has embarked on unprecedented debt liquidations.

How do we know this? Because that's what the Federal Reserve itself is reporting -- unambiguously and conclusively.

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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