Dollar Collapse

Bernanke’s QE2 Death Spiral

Federal Reserve Chairman Ben Bernanke announced today that the Fed will purchase $600 billion of long-term Treasuries between now and the end of the second quarter 2011. This btw, is on top of another approximately $300 billion in purchases from reinvesting principle payments from its agency debt and mortgage portfolio over the same period.

In other words, Bernanke is going to destroy the dollar. We will see double-digit inflation by the end of next year.