Wednesday, May 20, 2009

Money Money Everywhere!!

It's true. Money is everywhere. With trillions more dollars being injected into the economy, where is it all going? It has to find a home. Stocks may rise today on news that Bank of America was easily able to raise $13.47 billion dollars in the past two weeks. The government has determined that banks need $34 billion in extra capital to withstand the potential "stresses" that may hit the market in the future. No problem. As long as they don't run out of ink and paper.

Disappointed with Media

I'm disappointed in reading Martin Crutsinger's AP article this morning AP Inaccurate Reporting referring to the Federal Reserve as a Government Agency.

"The proposal the administration was considering would centralize the enforcement of laws that protect consumers of financial products, such as credit cards, mortgages and mutual funds. That effort currently is spread across a number of federal and state agencies, including the Federal Reserve, the SEC and the Federal Trade Commission. "

Such inaccurate reporting perpetuates the myth that the Federal Reserve is working in our best interest when in fact, it is just a group of bankers. We have already seen that the amount of greed in the banking system is only limited by the amount of wealth in the universe. It really taints my belief that President Obama is really serious about resolving the economic calamities that the economy has faced in the past. Bubble after bubble has been the result of monetary policy imposed by the Fed. Putting the Fed in charge of everything will surely put an end to the capitalist system as we know it.

Who's Looking Out for You?

We are! The Asset Design Center provides Guardian Angel protection in your investment and financial planning needs. Be sure to sign up for the June Trendsetter issue. Most certainly, the trillions of dollars the government has been printing has been going somewhere. The ultimate question is "Whose pockets will it all end up in?" Make sure you get your share.

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