Fed Reserve votes to buy $1.15 Trillion in Securities – Gold up $75
While the media and congress were all fired up over the AIG debacle, a tragedy of mammoth proportions happened which makes AIG look like a teenagers dispute over allowances.
Late in the day Wednesday, the US Federal Reserve voted to purchase over a Trillion dollars in securities from the US Treasury, in essence borrowing from ourselves and creating money from nothing.
People who understand and follow this type of financial activity, immediately sold dollars to purchase Gold. The value of the increased number of dollars in circulation will decrease each dollar’s worth and eventually push inflation into the economy.
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