So far, but in reality unless the FED does a complete 180 and and auctions off its balance sheet, recalling an equivalent amount of dollars (money), it is a indirect tax.
QE is a indirect tax on all US citizens, but it is disproportionately felt by the middle class and poor, who have much less invested in equities. QE has benefitted US corporations, the too big to fail banks, Wall St and the US Treasury - the FED creates dollars out of thin air, which are then used to purchase toxic mortgage backed securities (the average person has no idea they have bailed out the banks) and US government bonds - these dollars in turn are multiplied (i.e., leveraged) by the banks and loaned to US corporations ostensibly to foster economic growth but in reality to finance stock buy-backs etc., or used by the banks to purchase assets directly (hence the ridiculous and unjustifiable asset bubbles we are experiencing). The government uses the FED funny money to fund government services; this money makes its way into the general economy. The wealth of Wall St and the rich in general is protected by market appreciation (asset inflation), but the increase in the money supply is an indirect tax, via inflation and/or dollar debasement, on the poor and middle class (who are relatively asset poor) as the FED lets worthless MBS and maturing treasuries roll off their balance sheet.
But fleabaggers is an awesome name for the anti-teabagger douche bag liberals like fleeceman, I wish that to go mainstream, it should be applied to all OBAMA supporters.
What more do you dumbazz equity investors need to see the "economic recovery" is a total mirage and equity appreciation over the last few years is nothing more than stimulus-driven asset bubble inflation! If you are lucky to have been invested in equities get out now, current valuations are not rational and do not reflect increased earnings expectations. A few days ago Cramer was touting CAT as a buy - doesn't that tell you his ilk are in distribution mode. PLEASE PEOPLE - DONT BE A BAGHOLDER FOR THE GREEDY WALL ST PIGS! What goes up must come down and this market will crash sooner than later.
deleting is basically the opposite of the following tongue in cheek comment:
Anyone who believes the FED won't have your back is an idiot. Currency printing = wealth = debt reduction, QE is a no brainer for anyone who owns US paper. QE forever is awesome - buy the 10 year, going to sub 1%.
Anyone who believes the FED will taper is an idiot. Currency debasement = inflation = debt erosion, QE is a backdoor tax on anyone who owns US paper. QE forever is no joke, we will see sub 1% on the 10-year in a few years, going the same road as Japan.
has become totally irrelevant. What a bunch of jokers. This deal does absolutely nothing but kick the can to 1Q 2014. And stop worrying about the effing stock market, who gives a #$%$ whether wall st tanks. And stop with the treasury default #$%$ as well, just prioritize payments until a real deal is reached. This is disgraceful and anyone with children and grandchildren should be ashamed at the debt we are passing to them.
GOLD is not being sold, rather gold futures and paper gold are being sold in a effort to scare weak hands into coughing up their physical gold. Paper gold is about as worthless as paper money. The number of futures contracts sold this morning exceeded the entire amount of physical COMEX gold available for delivery. This is high drama / high risk manipulation, as one entity with about 10 billion dollars could theoretically corner the current gold market and expose the sham by demanding delivery. If you own paper gold like this ETF, or gold futures, there are ~ 50 other investors who lay claim to every ounce of physical gold held by COMEX and GLD, and if there is a run on the bullion banks someday, your investment will be worthless.
Ill be buying as much as I can. Name one other non-paper asset that is the same price as it was 5 years ago, just one. It is so obvious paper gold prices are manipulated by commercial and central banks. But it wont be so easy once all the EM sovereign wealth funds have divested themselves of dollars.
Yes I thought I might be high, but its still trillions. If the Chinese wanted they could corner the gold market tomorrow, but that would be a self inflicted wound. Its interesting the first thing the new Chinese president did was to enter into an agreement with the Russians to buy oil using Renminbi, an obvious swipe at the petrodollar.
and that is China owns ~ 3 TRILLION dollars worth of US Treasury debt. Of course they dont want to break the bank, so they are slowing exchanging those dollar reserves for REAL ASSETS including gold. However when they have dumped all their Treasury reserves, all bets are off. I have no idea how long it will take, but thats when gold prices will soar.