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FSN: QE3 Will Not Fix America’s Problems, Warns Paul Volcker
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Paul Volcker, the former Federal Reserve chairman credited with taming the inflationary threat of the 1970s, has warned that further quantitative easing will fail to repair economies in Europe and the US.
by Helia Ebrahimi
Telegraph.co.uk
Mr Volcker, addressing a conference at Gleneagles in Scotland, said the decision by the Fed to begin a third round of asset buying — nicknamed QE3 — amounted to the “most extreme easing of monetary policy” he could recall. Mr Volcker’s comments came as the World Trade Organisation intensified the economic gloom by slashing its global growth forecasts.
The organisation said it expected the world economy to grow 2.5pc this year, from a previous 3.7pc forecast, while growth in 2013 would slow from a previous estimate of 5.6pc to 4.5pc.
Although not explicitly directed at Fed chairman Ben Bernanke, Mr Volcker’s words will be seen as a veiled criticism of the limitations of the current strategy being employed by the Federal Reserve.
Continue Reading at Telegraph.co.uk…
2012-09-22 01:48:19
Source: http://silveristhenew.com/2012/09/21/qe3-will-not-fix-americas-problems-warns-paul-volcker/
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