Wednesday, October 31, 2007

Federal Reserve Cuts Rate by 1/4 Point today and Dooms America's Middle Class and Poor.


Good Job Bernanke, You just Doomed America.

You are a traitor, a puppet of Wall Street, and I hope you face the consequences for your treasonous actions today.

Bernanke and The Federal Reserve cut the federal funds rate by a quarter point today, Lets look at some of the aftermath of this decision.


1) Canadian Loonie hits 130-year high vs US-Dollar.
TORONTO -- The Canadian dollar rose to its highest level in nearly 130 years against the U.S. dollar on Wednesday, hitting US$1.0617 as the greenback slide lower in the aftermath of a U.S. Federal reserve rate cut.

2) Oil prices surge to US Record $95.00 a Barrel.
NEW YORK -- Oil surged 5% to a record US$95 a barrel on Wednesday after a steep drop in U.S. inventories fueled winter supply concerns and the U.S. Federal Reserve cut interest rates

3) Gold closes in on $800.00 per ounce.
An ounce of gold gained $6.50 to $794.30 in midday trading on the New York Mercantile Exchange. Silver futures jumped 19.7 cents to $14.525 an ounce.

4) Dollar falls to record low
NEW YORK (Reuters) - The dollar dropped to a record low against the euro on Wednesday as investors discounted as old news strong U.S. data, concluding that risks to economic growth persist and the Federal Reserve would cut rates as has been expected later in the day.


Time to get your wheelbarrows out next time you go shopping, because you will need something to carry all those extra worthless US dollars it will take to buy those groceries and other necessities.

We are in a lot of trouble... But atleast Wall Street is happy.







5 comments:

Anonymous said...

:)

Anonymous said...

Ron Paul 2008!!!

Put an end to the federal reserve!

Kieth Brand said...

LOL! Now all you need to do is dispence some lousy stock advice.

Kieth Brand

David Wozney said...

Re: “... all those extra worthless US dollars ...

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as having the value of 1/42.2222 fine troy ounces of gold.

Chris said...

lol


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