Is The Fed Acting Like a Day Trader?

June 20, 2013 06:25

Rick Santelli rants against recent Fed statements and stock market dependence on the Fed’s buying of government debt known as QE.

The Federal Reserve creates money out of thin air then charges America interest on that money. To keep those interest rates down the Fed has been buying the debt itself. Some maintain that when the Fed stops buying that debt interest rates could skyrocket increasing the cost of carrying $17 TRILLION in U.S. debt, absorbing all of the government budget, collapsing the dollar and causing a worldwide depression.

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