Curse of Free Money Continues Taking Its Toll On Capitalism
The Sun (San Bernardino, CA) › April 16, 2011
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Summary
KANSAS CITY, Mo. - The lobby of the Federal Reserve Bank building here contains a money museum where a sign offers visitors "Free Money." It is an amusing anomaly, considering the views of the man in charge of the building.
The free money in the lobby consists of shredded currency in small plastic bags. The free money that distresses Tom Hoenig, in his 20th and final year as president of one of the Federal Reserve's 12 regional banks, is being pumped into the economy by two policies of the Federal Reserve in Washington - very low interest rates and a second "quantitative easing" (printing money).See the full content of this document
Extract
Curse of Free Money Continues Taking Its Toll On Capitalism
As the global recovery gains strength, the prices of three things will rise - oil, food and money. David Rosenberg of Gluskin Sheff in Toronto reports that in the l...
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