Now we're really screwed. No one will buy our debt.

Discussion in 'Financial Cents' started by Quigley_Sharps, Mar 21, 2009.

  1. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    Fox News.

    Yesterday at 3:00 PM ET, the Fed bought $1 Trillion of our T-Bills.

    That means we needed to borrow money, but no takers. The Fed printed it, which always causes inflation. We are now monetizing our debt.

    Any wonder why Gold is up $75 today? Any wonder why the dollar is WAY down against foreign currencies today? Any wonder why oil and gas are up in dollars today?

    This is a new tax. Everything we import will now cost more because the dollar just lost a bunch of value.

    This is a disaster. We "borrowed" the money out of thin air from "ourselves."

    Ever try borrowing money from yourself when you're broke? Didn't work out too well, did it?

    These idiots in DC have no sense of restraint, no common sense and no loyalty to the longevity of our economy. They are spending us into oblivion.

    This is for the next lib that says "give him a chance, he's only been in office 60 days"

    F U<!-- google_ad_section_end --><!-- / message --><!-- sig -->
  2. Tango3

    Tango3 Aimless wanderer

    SO.. we normally "borrow" money from the fed at interest.and we sell T bills to foreign banks to payback that the fed loaned us money and bought the T bill to pay it back: sounds like we've got a snake eating its tail...Did amonumental counter intuitive fuze just light? Did theyjust accelerate something? Is that my mom I hear calling me to dinner?
  3. dragonfly

    dragonfly Monkey+++

    In the infamous last words heard at Custer's last stand....
    Oh CRAP!!!
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