by Ulsterman on August 27, 2012
Exactly as a longtime Wall Street Insider told us – FED Chairman Ben Bernanke told lawmakers there is more the FED can do to stimulate the economy – including extending massive purchasing of Federal Treasury bonds until the end of Barack Obama’s first term.
Hope this message finds you well. I have recently received confirmation of Ben Bernanke’s intent to initiate a sizeable QE3 just prior to the November election. Whispers of this have been circulating for a number of weeks.
…Watch for it. Watch for confirmation of this plan. A QE3 announcement just prior to November could give the man calling himself Obama just enough of a bump to win a closely contested election. It will also further decimate the longer term fiscal health of the nation and the world. Clearly those who surround Obama deem the former to be far more important than the latter.
Barack Obama and Ben Bernanke are now working in unison in an attempt to purchase a second term. -WALL STREET INSIDER: August 3rd, 2012
And from a Wall Street Journal report two days ago:
“There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery,” Mr. Bernanke wrote in a letter dated Aug. 22, a copy of which was obtained by The Wall Street Journal.
The Fed’s “Operation Twist” program—buying long-term Treasury bonds and selling short-term securities—is still “working its way through the economic system,” Mr. Bernanke said. The program was first launched in September 2011 and in June 2012 was extended through the end of this year.
…Minutes of the Fed’s July 31-Aug. 1 meeting, released this week, showed the Fed leaning strongly toward actions that could include a new round of bond buying, guidance that interest rates will stay low for even longer than previously thought, or other measures. The Fed next meets Sept. 12 and 13.
…The Fed has held off on new action, in part, because officials wanted to see how markets and the economy responded to Operation Twist. One of several options on the table for the Fed’s September meeting is for the central bank to replace Operation Twist with an outright bond-buying program.