Wall Street takes a hit as Dow closes down 284 points.
Stocks sold off sharply Wednesday after the Federal Reserve said it will increase its share of longer-term Treasurys by $400 billion over the next 10 months or so. The so-called Operation Twist is intended to lower borrowing costs even further, but has no shortage of skeptics who say borrowing costs aren’t what is holding back the U.S. economy. The Dow Jones Industrial Average shed 283 points, or 2.5%, to close at 11124.
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1 comment:
The problem with the Federal Reserve Bank (private and for-profit, along with secret ownership) is that they refuse to demonstrate from where they get the money to buy these Treasuries.
Hence, it is now widely believed that they create the money out of thin air. They are de-valuing our currency. Possibly to a point of its collapse!
In this way it is believed by many, they are in fact counterfeiting the money (illegally printing money) and thus stealing from the American People.
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