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Ben hits Ctrl-P

Thursday, September 13, 2012 20:32

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(Before It's News)

As widely expected Ben Benanke and his paper junkies at The Federal Reserve have embarked on another QE scheme to keep the US banking sector from sinking and taking the remnants of the US economy with it. One could also argue it has been done now so as to help Wall St’s favorite Kenyan get re-elected.

The latest scheme is to buy more Mortgage Backed Securities (MBS) to increase their price (improves bank balance sheets) and lower their yield (lowers mortgage interest costs to help borrowers) by the tune of $40bn per month for as long as needed. The Fed also signaled that ZIRP (near zero short term interest rates for their mates) would likely continue into 2015, just in case anyone had any doubt it would.

Sep 13, 2012 by AssociatedPress