10 Shocking Quotes About What QE3 Is Going To Do To AmericaMichael Snyder, Contributor It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that Bernanke has not achieved and it frustrates him, I can tellis he gets no economic growth. He doesnt do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time. #2 Peter Schiff, CEO Of Euro Pacific Capital This is a disastrous monetary policy; its kamikaze monetary policy #3 Michael Pento, The Founder Of Pento Portfolio Strategies This is the nuclear option for them. This is a never-ending weapon that is being fired at the middle class #4 Donald Trump People like me will benefit from this. #5 Economist Anthony Randazzo Quantitative easinga fancy term for the Federal Reserve buying securities from predefined financial institutions, such as their investments in federal debt or mortgagesis fundamentally aregressive redistribution program that has been boosting wealth for those already engaged in the financial sector or those who already own homes, but passing little along to the rest of the economy. It is a primary driver of income inequality formed by crony capitalism. And it is hurting prospects for economic growth down the road by promoting malinvestments in the economy. #6 John Williams Of Shadowstats.com Thats absolutely nonsense. The Fed is just propping up the banks. #7 Marc Faber I happen to believe that eventually we will have a systemic crisis and everything will collapse. But the question is really between here and then. Will everything collapse with Dow Jones 20,000 or 50,000 or 10 million? Mr. Bernanke is a money printer and, believe me, if Mr. Romney wins the election the next Fed chairman will also be a money printer. And so it will go on. The Europeans will print money. The Chinese will print money. Everybody will print money and the purchasing power of paper money will go down. #8 Mesirow Financial Chief Economist Diane Swonk I think this will end up being a trillion-dollar commitment by the Fed #9 Federal Reserve Chairman Ben Bernanke I want to be clear While I think we can make a meaningful and significant contribution to reducing this problem, we cant solve it. We dont have tools that are strong enough to solve the unemployment problem #10 Credit Rating Agency Egan-Jones [T]he FEDs QE3 will stoke the stock market and commodity prices, but in our opinion will hurt the US economy and, by extension, credit quality. Issuing additional currency and depressing interest rates via the purchasing of MBS does little to raise the real GDP of the US, but does reduce the value of the dollar (because of the increase in money supply), and in turn increase the cost of commodities (see the recent rise in the prices of energy, gold, and other commodities). The increased cost of commodities will pressure profitability of businesses, and increase the costs of consumers thereby reducing consumer purchasing power. Hence, in our opinion QE3 will be detrimental to credit quality for the US. We have reached a major turning point in the financial history of the United States. It would be hard to overstate how much damage that QE3 could potentially do to our financial system. If the rest of the world decides at some point that they no longer have confidence in our dollars and our debt then we are finished. Sadly, the mainstream media does not seem to understand this, and most Americans gleefully believe whatever the mainstream media tells them. So what do you think about QE3? Please feel free to post a comment with your opinion following this article. RELATED ACTIVIST POST ARTICLE: linkwithin_text=Related Articles: 