“Some say the Fed panicked. I say it is business as usual. It is required to keep rates low to avoid the government going bust, which would happen if it had to pay too much interest on its debt. The Fed has essentially promised to destroy the dollar to keep supporting the banks and to keep the government alive, with debts that the political parties have no way of coming to an agreement on how to fix. The Fed has clearly told us what to expect. The trajectory is unsustainable.”
http://www.caseyresearch.com/cdd/where-will-qe3-take-us
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