Nearly two months ago a longtime Wall Street Insider warned that FED Chairman Ben Bernanke would initiate an attempted QE3 bailout of the Obama campaign to help Barack Obama win re-election in November. It appears that bailout has already been initiated…
Jim Rogers: Fed Has Already Begun QE3 to Avoid ‘Egg on Their Face’
International investor Jim Rogers says that the Federal Reserve is secretly printing money to avoid “getting egg on their face again” after previous attempts to kick-start the faltering economy with more than $2 trillion of quantitative easing failed.
Two previous rounds of quantitative easing (QE1 and QE2) pumped a collective $2.3 trillion into the economy and Fed officials say they remained poised to roll out a third round (QE3) if recovery doesn’t gain steam.
Don’t wait for that announcement to occur.
“I do not know if they will announce it. I know they are going to print more money. They already are,” Rogers told India’s Economic Times.
…”They may just continue to do it without getting egg on their face again, but they are going to print money, they are all going to print money. It is the wrong thing to do, but that is all they know to do.”
H/T to Dhaval Sheth