The 99 percent if I may.
QE is for big banks to wheel and deal. To speculate. To drive prices of commodities up.
To extract money from the many, to enrich the few.
To wage economic warfare on targeted economies
Not to ease unemployment. Not to get people back to work...
Ben S Bernanke laid the groundwork for a third round of large-scale asset purchases should unemployment remain higher than the Federal Reserve would like while inflation falls below a newly-established target.
The Federal Open Market Committee “recognizes the hardships imposed by high and persistent unemployment in an underperforming economy, and it is prepared to provide further monetary accommodation,” Bernanke said yesterday at a press conference in Washington.
Stocks and Treasuries rallied after policy makers said the benchmark interest rate would stay low until at least late 2014, pushing back a previous date of mid-2013. Fed officials also lowered their projections for economic expansion and inflation for this year and next.
“It was an unambiguous, aggressive statement,” said Julia Coronado, chief economist for North America at BNP Paribas in New York. “My expectation is that we are going to get quantitative easing three in April,” she said, referring to a third round of bond buying.
Flash back to this post on QE2- March 02/2011
Snips from previous post....
*What we have witnessed these past few months has been a speculative bubble in the commodities market. Specifically food and energy.
"Ever since QE2 was announced in November, commodity prices have surged. Critics say it flooded the world with liquidity, which in turn devalued the dollar and drove institutional investors out of US treasuries and encouraged them to seek higher returns for food commodities."
The banks, of course, are the big players in the speculation. This planned economic warfare has played a role in the destabilization of all the nations we have seen in upheaval recently.
*Speculation has been driving the energy prices. Not instability. There is plenty of oil. Saudi Arabia has offered to ramp up production. Libyan oil is a mere fraction of the global oil inventory.
But, speculators (banks) loaded up with American dollars, have taken advantage of the upheaval in Libya and other nations to push the price of oil upwards! Doing some reading today I note the US has a surplus supply, additionally they get there energy from Canada.
Following along, you should now understand that QE2 was designed to do exactly what it has done. Destabilize the economies that the US led NATO army wanted destabilized, wanted to remove and replace the leadership or attack as necessary......
Is QE3 the harbinger of more military adventures?