We know that the Fed has moved to a quantitative easing even if it has been called by other names such as a credit easing policy. The Bank of Japan is considering the purchase of corporate bonds which would be similar to the Fed policy initiative. The Bank of England has started to take steps in the same direction with policy announcements this week.
The Bank of England is putting in place an asset purchase plan akin to some hybrid Treasury and Fed policy. The process will have the bank buy non-financial credit paper and have it funded through Treasury issuance of debt. There would be a swap of private for public debt. The program of up to 50 billion pounds will have the bank take the credit risk to reduce spreads with money raised by Treasury. This would have a process in place for the bank to ultimately buy asset and fund with new money. The Bank has been careful about stating the intentions of this policy because a weak pound will only get worse if there was a clear belief that the money supply would be turned on without any restraints. The BOE has already increased its balance sheet by a factor of three. We have seen the impact on sterling.
The Bank of England is putting in place an asset purchase plan akin to some hybrid Treasury and Fed policy. The process will have the bank buy non-financial credit paper and have it funded through Treasury issuance of debt. There would be a swap of private for public debt. The program of up to 50 billion pounds will have the bank take the credit risk to reduce spreads with money raised by Treasury. This would have a process in place for the bank to ultimately buy asset and fund with new money. The Bank has been careful about stating the intentions of this policy because a weak pound will only get worse if there was a clear belief that the money supply would be turned on without any restraints. The BOE has already increased its balance sheet by a factor of three. We have seen the impact on sterling.
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You Bail Them Out, We Opt Out. We Want Some TARP
Dear, I should say Expensive Chairman Ben S. Bernanke,
All of Our Economic Problems Find They Root in the Existence of Credit.
Out of the $5,000,000,000,000 bail out money for the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE, The People, got?
If my bank doesn't pay back its credits, how come I still must pay mines?
If my bank gets 0% Loans, how come I don't?
At the same time, everyday, some of us are losing our home or even our jobs.
Credit discriminates against people of lower economic classes, as such it is unconstitutional, isn't it? It is an supra national stealth weapon of class struggle.
Credit is a predatory practice. When the predator finishes up the preys he starves to death. What did you expect?
Where are you exactly in that food chain?
Credit gets in the way of All the Principles of Equal Opportunity and Free Market.
Credit is a Stealth Weapon of Mass Destruction.
Credit is Mathematically Inept, Morally Unacceptable.
You Bail Them Out, We Opt Out
President Bush Proposed the TARP, Senator Obama Voted It.
We Want Some TARP.
Opting Out Is Both Free and Strictly Anonymous.
My Solution: The Credit Free, Free Market Economy.
Is Both Dynamic on the Short Run & Stable on the Long Run, The Only Available Short Run Solution.
I Am, Hence, Leading The Exit Out of Credit:
Let me Outline for You my Proposed Strategy:
✔ My Prescription to Preserve Our Belongings.
✔ Our Property Title: Our Free, Strictly Anonymous Right to Opt Out of Credit.
✔ Our Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: - .
✔ Asset Transfer - Our Right Grant Operation - Our Wealth Multiplier - Our Liquidity TARP.
✔ A Specific Application of Employment, Interest and Money.
[A Tract Intended For my Fellows Economists].
If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless Already?
Since credit based currencies are managed by setting short-term interest rates, on which you have lost all control, can we still say that are managing?
We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.
In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.
The only other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.
It will be either awfully deadly or dramatically long.
A price none of us can afford to pay.
“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”
- Henry A. Kissinger
What Else?
Until We Succeed the Economy Will Necessarily Keep Sinking Into a Deeper and Deeper Depression
You Bail Them Out, Let's Opt Out!
Check Out How Many of Us Are Already on Their Way to Opt Out of Credit.
If You Don't Opt Out Now, Then When Will You?
Let me provide you with a link to my press release for my open letter to you:
Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!
I am, Mr Chairman, Yours Sincerely [As if I really had the choice.],
Shalom P. Hamou AKA 'MC-Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640
Fax: +972 3 741-0824
http://edsk.org/
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