QE In the Amounts Needed

Today the Fed announced that they would print as much money as is needed to re-inflate the bubbles in a release entitled, Federal Reserve announces extensive new measures to support the economy:

“Support for critical market functioning. The Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy. The FOMC had previously announced it would purchase at least $500 billion of Treasury securities and at least $200 billion of mortgage-backed securities.”[1]

So $700 billion new money previously announced was less than is needed?

Soon we will choose between the American Revolution and a Communist Revolution.

To summarize,

"Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." -John Maynard Keynes, The Economic Consequences of the Peace, Chapter VI pg 236

These are the times that try men’s souls.

[1]https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm