Friday, September 14, 2012

“QE3″ another banker bailout in disguise

“QE3″ it is  another banker bailout in disguise.

Micheal Snyder writes “The truth is that it isn’t as if banks are hurting for cash to loan out,”  “In fact, right now banks are already sitting on $1.6 trillion in excess reserves. Just like with the first two rounds of quantitative easing, a lot of the money from QE3 will likely end up being put on the shelf.”

The gap between rich and poor will only increased.

“I want to be clear — While I think we can make a meaningful and significant contribution to reducing this problem, we can’t solve it. We don’t have tools that are strong enough to solve the unemployment problem,” Ben Bernanke.

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