QE3 and the Globalist Plan to Destroy the Dollar
June 2, 2011
Mohamed El-Erian, chief executive officer at Pacific Investment Management Co., told Bloomberg today the Fed’s quantitative easing policy failed to meet the “ultimate objective” of boosting employment and economic growth.
Pimco is the world’s biggest manager of bond funds. Under QE2′s bond-purchase program, investors are doing fine with higher-yielding assets in the rigged stock market casino – QE2 pushed the S&P up 9 percent – but as usual the little guy on Main Street continues to lose his socks.
“If success is defined in terms of the ultimate objective, which is pushing up valuation in order for people to spend more on goods and services and therefore get the economy to grow and unemployment to come down rapidly, then the answer is no,” El- Erian said.
It is not explained how loaning astronomical amounts of fiat currency to a spendthrift government will correct an economic imbalance engineered by the Federal Reserve and the bankers in the first place. Moderate estimates put the current budget deficit at $1.4 trillion – 10% of America’s GDP. It should be obvious by now this policy smells of ultimate (and deliberate) ruination, and sooner before later.
Of course, the Fed is not a blind elephant mindlessly thrashing about in a china shop, ineptly taking out the foundations of the United States economy. There is a methodical rhyme and reason behind what appears to be inept policies consistently in failure mode and making things worse.
Obama’s record deficit spending – and gargantuan loans provided to cover the tab – is central to a concerted effort to undermine the dollar and reduce its status as the world’s reserve currency.
But not to fear. Our rulers and their banker masters have a plan to save the world. It’s called a “global currency” and it was proposed back in 2009 just as the banker engineered financial crisis was gaining steam and Congress was cobbling together a plan to “save” the economy that was in fact a pig with lipstick plan to create more debt and thus enslave your children and their children.