The Federal Reserve is about to impose a tax upon the whole world through Bernanke’s quantitative easing scheme. Germany and other countries have been outspoken on the U.S. debt and possible currency crisis:
BERLIN - German Finance Minister Wolfgang Schaeuble lashed out Friday at the United States' move of printing huge money to stimulate its slow recovery, saying that these policies would not help but create more troubles.
"With all due respect, my feeling is that the United States is at a loss," Schaeuble told reporters in Berlin, two days after the US Federal Reserve (the Fed) announced it would purchase 600 billion dollars of long-term government bonds by mid-2011, in a new round of "quantitative easing".
"Saying now that we once again make an additional $600 billion available will not solve any problem." Schaeuble said. The difficulties faced by Americans had nothing to do with " liquidity drain."
“Helicopter Bob” Bernanke should take the advice of Germany’s Finance Minister. After all, I’m sure Mr.Schaeble remembers what his parents and grandparents went through with the Weimar Republic.
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