Friday, November 5, 2010

Financial Tsunami

It's being reported out of Germany that the U.S. has not held up it's promises....another way of putting that would be that the U.S. lied about it's financial intentions...and yesterday's announcement that the Federal Reserve was printing another $600 billion confirmed the lie, according to European bankers.

Germany has accused the US of breaking a promise made at the G20 summit in Toronto in June by injecting a further $600 billion into its economy to stimulate growth.

Speaking on national TV on Thursday (4 November), German finance minister Wolfgang Schauble said that participants at the meeting had agreed to tighten their belts: "That was the common policy, that all developed countries, including the US, at the G20 summit in Toronto ... explicitly obliged to undertake."

"Printing money again will trigger a tsunami across the world economy," Mr Schaeffler said.

See it here; http://euobserver.com/9/31208

I have an idea....as long as the Fed is printing money, why don't they just print an extra $1 million for every man and woman in America over the age of 18? Then we can all go out and pay off our houses, buy a few new vehicles, take a much needed vacation and won't be in such a hurry to look for a job? That should stimulate the economy, right? After all, if printing a little money is good....then printing a lot should be great!!

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