Peter has more on Obama's October Surprise

Only he says it's the Impoverishing of American Citizens to bail out banks and politicians

The Link : The Fed: Impoverishing American citizens to bail out banks and politicians

Obama's October Surprise, Quantitative Easing Free Campaign $$

Well it's starting.  Ben Bernanke through the fed, will start purchasing $40 BILLION DOLLARS of mortgage backed securities PER MONTH, with no end date set.  All this in an attempt to boost the real estate market in a shallow attempt to boos the economy to help Obama's re-election.  And you and I are going to be paying for it.

"The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market. 

The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve. 

"There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London. "They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."

Since he can't raise enough campaign funds through legal means, he is going to use the Fed to try to artificially boost and inflate the economy to help with his re-election.

Obama's October Surprise

with Ben Bernanke's collusion; Click to go over to The Ulsterman and read.

"The Fed’s “Operation Twist” program—buying long-term Treasury bonds and selling short-term securities—is still “working its way through the economic system,” Mr. Bernanke said. The program was first launched in September 2011 and in June 2012 was extended through the end of this year.

…Minutes of the Fed’s July 31-Aug. 1 meeting, released this week, showed the Fed leaning strongly toward actions that could include a new round of bond buying, guidance that interest rates will stay low for even longer than previously thought, or other measures. The Fed next meets Sept. 12 and 13. …The Fed has held off on new action, in part, because officials wanted to see how markets and the economy responded to Operation Twist. One of several options on the table for the Fed’s September meeting is for the central bank to replace Operation Twist with an outright bond-buying program."

Bush and Wall St. didn't cause the economy to collapse,

the Federal Reserve did. From a senior economist at the Federal Reserve, we have a book telling how the Fed caused this, not Wall Street, not President Bush, but the Fed and Ben Bernanke.

"It’s probably President Obama’s most politically effective line of attack against Mitt Romney.

The president argues that it was the unchecked, reckless, casino capitalism of the George W. Bush years — bank deregulation, tax cuts for the rich — that lead to the nation’s worst economic downturn since the Great Depression. And if Mitt Romney is elected in November, the Republican will bring those policies right back, risking another financial collapse.

Here’s what Obama said during that same speech where he told America’s entrepreneurs that “you didn’t build that”:

But I just want to point out that we tried their theory for almost 10 years … and it culminated in a crisis because there weren’t enough regulations on Wall Street and they could make reckless bets with other people’http://www.blogger.com/img/blank.gifs money that resulted in this financial crisis, and you had to foot the bill. So that’s where their theory turned out.

But a book by Robert Hetzel, a senior economist at Federal Reserve Bank of Richmond, says it wasn’t Bushonomics or greedy bankers or broken markets that caused the Great Recession. In The Great Recession: Market Failure or Policy Failure, Hetzel pins the blame squarely on the Federal Reserve and Team Bernanke.

Oh, the downturn first started with “correction of an excess in the housing stock and a sharp increase in energy prices” — the housing bust and the oil shock. Indeed, those two things were enough, in Hetzel’s view, to cause a “moderate recession” beginning in December 2007."

Click the above to go RTWT