Stocks Plunge as Fed Members Admit Endless Bond Buying Will Not Fix Economy

Thursday, February 21, 2013
By Paul Martin

Kurt Nimmo
February 21, 2013

Word of dissension at the Fed sent the stock market tumbling Thursday. Photo: Alex Proimos.
During the January meeting of the Federal Reserve, some members of the central bank admitted the obvious – a tidal wave of nearly worthless paper money will not turn the economy around and the Fed’s bond-buying program will create dangerous inflation and “foster market behavior that could undermine financial stability.”

Fed minutes reveal “a number of participants” in disagreement with the bond-buying scheme. An ongoing review of the practice “might well lead the committee to taper or end its purchases before it judged that a substantial improvement in the outlook for the labour market had occurred.”

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