The US Federal Reserve announced it would additionally pump some freshly printed $600b into the economy via a new treasuries buying program. The message thus sent to the world is that as always the Federal Reserve is going to advance its own interests regardless of the impact of its steps on the global economy... Access to the on/off button of the FRS printing press opens opportunities to manipulate the currency, to arbitrarily send inflation sprawling or generate liquidity droughts, and therefore to trigger crises. The US crises of 1948-1949, 1953-1954, 1957-1958, 1960-1961, 1969-1971, and 1973-1975 were widely attributed to the FRS...
Elena PUSTOVOITOVA | 11.11.2010 |
