“The end crisis will be postponed until the sovereigns go bankrupt. They can postpone the end-game endlessly...say another five to 10 years. Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed. ”
—Marc FaberMore Money Printing is On The Way - QE3???
Go Here for the video interview —> http://www.cnbc.com/id/43233866
Read more at www.cnbc.com
“There is no real political will to do the right thing. As I said, I think the Federal Reserve is going to do QE3. if it doesn't we'll have to do TARP 2...all these banks are going to fail. All the banks that got bailed out will fail without more money printing. that is going to send gold a lot higher.”
—Peter SchiffGlobal growth has burned out and faded away
marketwatch.comDriven by massive monetary stimulus from the world’s central banks, the performance of global financial markets, especially stocks, have decoupled from the reality of a moribund world economy.
—from Marketwatch, by Satyajit Das.
Stock markets are up, but all the printed money is not creating sound economic growth on the main streets of America, Europe, Japan, or China. At best we see stagflation (China and the USA) or contraction (Europe, Japan).
Printing money does not produce wealth. Manipulating interest rates downward does not cure structural problems in an economy. Politicians and central bankers do not have magic wands to cure recessions, to rebalance excessive debt loads. In the end, their medicines will make the disease even worse, by distorting and restraining the market forces that would serve to correct the excesses that caused the crisis in the first place.
Satyajit Das explains in his Marketwatch article that our economy is based on a model that cannot, by any reasonable standard of logic, last forever. Economic growth is predicated on increasing debt. In practice, it has been found that borrowing x amount of dollars results in less than x amount of growth. This can continue until creditors begin to grasp the fact that eventually the borrowers — even governments — can never pay them back. Then, we will have a crisis. It may be a simultaneous crisis in all economies, or the crisis may bounce from one area to the next. Nevertheless, it is a house of cards.
MUST-READ: The Biggest Federal Reserve "Money Printing" In History Could Be Coming Soon
Friday, May 25, 2012
From A Lightning War for Liberty:
Those who know me understand clear as crystal that I don’t approve of massive money printing. I think it is theft, plain and simple, and represents an egregiously deceptive manner of transferring wealth from the poor to the wealthy and from the productive to parasitic financial oligarchs.
That being said, the world we live in is being led by a bunch of crooked banksters and the Central Planners that do their bidding. At the top of the Central Planning global ponzi pyramid, is our very own Federal Reserve, headed by master Keynesian magician, the Wizard of Eccles, Ben Bernanke.
For the vast majority of 2012, the Federal Reserve has been playing a very, very dangerous game. This game has been to pretend that they will not be printing any more money in an attempt to get commodity prices down as low as possible before they proceed with the inevitable.
While they have done this on a smaller scale many times in the past, this particular game of chicken has in my opinion gone dangerously wrong. You see, ever since the 2008 debacle the Fed has…
Russia Printing Money For Cash-Strapped Syria – Report
Source: IBTimes
Helicopter gunships aren’t the only things Russia is giving Syria; now the Kremlin is printing money for the cash-strapped Damascus regime. But whereas the former aid makes Assad’s regime stronger militarily, the latter may exacerbate an inflation rate that is now more than 30 percent.
Reuters reports that the Syria regime, desperate to finance its fiscal deficit, has released new cash, printed in Russia, into circulation in trial amounts in the capital and Aleppo.
“(The Russians) sent sample new banknotes that were approved and the first order has been delivered. I understand some new banknotes have been injected into the market,” Reuters reported, citing an anonymous banker in Damascus.
The new notes were being used not just to replace worn out currency but to ensure that more than 2 million state employees’ salaries and other government expenses were paid, four bankers told Reuters.
“You cannot allow the public sector to collapse,” said one of the bankers, pointing to Syria’s record-setting $27 billion 2012 budget.
Outgoing Finance Minister Mohammad al-Jleilati said last week that Syria had discussed printing banknotes with Russian officials during economic talks at the end of May in Moscow and said a deal was “almost done.” But the central bank later denied through state media that new currency had been circulated.
Syrian money was previously printed in Austria by Oesterreichische Banknoten- und Sicherheitsdruck GmbH, a subsidiary of the Austrian central bank. That order was suspended last year because of European Union sanctions, an Austrian central bank spokesman told Reuters.
Russian firms are not barred from printing money for Syria. As Syria’s major political backers and a close trading and economic partner, Russia is seen as Syria’s “last resort” to pump new notes into the system and pay down the deficit.
However, Russia’s good intention might bear bitter fruits.
The international sanctions and 15 months of political unrest in the country have wiped out Syria’s revenues and have left the country with tremendous inflationary pressures.
Oil Minister Sufian Alao told the official Syrian Arab News Agency on April 30 that the country’s exports have slumped since the European Union decided to stop importing Syrian crude oil last year, costing the country $3 billion in revenue.
Other signs of distress are also evident. Deposits at Syrian banks — Bank of Syria & Overseas, Bank Audi Syria, and Banque Bemo Saudi Fransi — fell by an average of 35 percent in 2011, according to April filings to the Damascus Securities Exchange. During that period, lending dropped 22 percent.
Creating more money out of the blue would only worsen the scenario. As economists like to say, inflation stems from “too much money chasing too few goods.”
Inflation rate in Syria rose to 31.5 percent in April, compared with the same month a year ago, as the cost of food products increased, according to the government’s Central Bureau of Statistics.
Syria’s economy contracted 3.4 percent in 2011 largely due to the unrest and is expected to shrink by 8.1 percent in 2012, the Economist Intelligence Unit estimates.
However, “reckless printing of money as a way of buying short term reprieve could be economic suicide,” a banker told Reuters.
“I have been writing every month that people should accumulate gold. Yes, there is more room for gold to appreciate further. Most people do not own gold. Most people think gold prices are very high. Today, the gold price is cheaper than in the 1980s when it was around 400 dollars an ounce, considering the increase in global monetary base and the US money printing. ”
—Marc Faber
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The Dow Rises, While Economic Info Continues to Stumble
The Dow closes in on new all-time highs this week, as the United States’s productivity and employment/welfare numbers continue to remain slow to improve. While workers with retirement accounts may celebrate, the masses of already retired folks continue to shudder as interest rates force them into stocks and other riskier investments.
The Fed will, at a future point, sell all the assets that they have purchased to bolster the faltering economy. Even Warren Buffett has mentioned that investors are sitting on the edge of their seats, waiting for a change in Federal Reserve policy. Potential Fed selling may lead to a domino-like mass of other sellers, forcing the Dow to drop precipitously.
Public Banking, What Better Time Than Now!
Money power in private hands games the system. It does so destructively. Controlling money, credit and debt for private enrichment assures speculation, booms, busts, inflation, deflation, instability, crisis, recessions and depressions.
Public Banking
The Cyprus crisis alone begs the question…. Economic Collapse http://bit.ly/Z4b9No
