Its so bad both the ECB and FED launch unlimited money printing
How Bad Has The Global Economy Really Gotten? Both ECB And FED Launch Unlimited QE!!!
September 13th, 2012
Confirmed: We Are In A Depression & The FED and ECB Are Out Of Bullets!
FED ANNOUNCES UNLIMITED QE
The Federal Reserve decision is out, and it’s a biggie.
There are two main components.
The first is that the Federal Reserve has extended its guidance for low rates through 2015.
The second is that there’s going to be open ended quantitative easing.
The Federal Reserve will buy $40 billion worth of Mortgage Backed Securities without end.
Whereas in the past the Fed always announced a specific amount of QE, this time there will be no stop until the Fed is happy with the pace of recovery.
Significantly, the new bond-buying plan is open-ended, meaning that the Fed will keep buying long-term bonds until it sees a substantial improvement in the job market. If hiring doesn’t pick up, the Fed could step up the pace of bond-buying until it does.
ECB President Draghi Announces Unlimited Bond-Buying Program (09/06/2012)
European Central Bank chief Mario Draghi on Thursday overrode German concerns and announced a program allowing for unlimited purchases of sovereign bonds from struggling euro-zone member states. The plan, however, is not without conditions.
The European Central Bank has resembled a sieve this week. Ahead of Thursday’s much anticipated press conference, financial websites and business papers were full of reports detailing ECB President Mario Draghi’s plan for holding down the borrowing costs of debt-plagued euro-zone member states. Discretion was in short supply.
When Draghi did finally step in front of the microphone on Thursday, he confirmed what most already knew. The ECB is to launch a new bond-buying program to hold interest rates on euro-zone sovereign bonds in check. The program, called Outright Monetary Transactions (OMTs), allows for unlimited ECB purchases of sovereign bonds on the secondary market. The program is to focus on bonds with a period of three years and less.