sharp rally in gold on fed purchases of long bonds

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aitakahashi

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sharp rally in gold on fed purchases of long bonds

posted on Mar 18, 2009 10:59AM

call it monetization, quantitative easing, or just money printing. this article is from craig torres of bloomberg:

March 18 (Bloomberg) -- The Federal Reserve said it will buy $300 billion in Treasury securities and increase its purchases of mortgage and agency debt in an effort to bolster housing and hasten the end of the recession.

“To provide greater support to mortgage lending and housing markets, the committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage- backed securities,” the Federal Open Market Committee said in a statement in Washington today. “Moreover, to help improve conditions in private credit markets, the committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months.”