US Economist Issues Powerful Newsletter To Help People Survive The Current Recession
Many people are cautious about what’s going to happen now that the Fed will be buying US securities including ones backed by Fannie Mae and Freddie Mac. August Forthright, author of Gold, Oil, and God: A Look At America’s Future, has written a powerful newsletter on his site, truthawareness.com, to help people thrive during the US recession.
San Diego, CA (IPRWIRE) Tuesday, April 7th, 2009 - The Federal Reserve Bank has now announced that they will be buying up from $500 billion to $1.25 trillion worth of Fannie Mae and Freddie Mac mortgage backed securities during the current US recession. In addition they will be buying $300 billion in US treasury securities. The way August Forthright, author of Gold, Oil, and God: A Look At America’s Future, sees it this is banana republic stuff.
Forthright reports that the Fed is doing nothing more than printing money out of thin air and then using that money to buy US securities. The way he sees it, the country is deliberately devaluing its currency which will harm all our foreign creditors. This is a foolish and dangerous path since we’re a net debtor nation that is trying to borrow tens of billions of dollars a month to fund our massive and rapidly growing deficits, Forthright claims.