Thursday, September 18, 2008

More troubled financial times ahead

The central banks decided to pump another 180 BILLION dollars into the system. One again printing money like there is no tomorrow - a move that they have resorted to several times in the past 7 years. The first entity to trade those new dollars gets the benefit, but as the dollars move farther and farther down the line they water down the economy and cause inflation. Printing more IOUs so that people can trade them as if they are worth something will not resolve the problem in the long term. The insiders at the central banks know that their being called on their big bluff and are doing their best to flood the market while they make back room deals to cover their own assets. Now is not the time to listen to the investment firms. They are in the business of making money and they certainly don't want everyone coming to their senses at the same time and pulling the plug on Wall Street.

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