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China warns Federal Reserve over ‘printing money’

Posted By admin On May 25, 2009 @ 3:28 am In Money Watch | Comments Disabled

Ambrose Evans-Pritchard
London Telegraph [1]
Monday, May 25, 2009

China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed’s direct purchase of US Treasury bonds.

Richard Fisher, president of the Dallas Federal Reserve Bank, said: “Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature.”

“I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States,” he told the Wall Street Journal.

China warns Federal Reserve over printing money obama 340x169 [2]

His recent trip to the Far East appears to have been a stark reminder that Asia’s “Confucian” culture of right action does not look kindly on the insouciant policy of printing money by Anglo-Saxons.

Mr Fisher, the Fed’s leading hawk, was a fierce opponent of the original decision to buy Treasury debt, fearing that it would lead to a blurring of the line between fiscal and monetary policy – and could all too easily degenerate into Argentine-style financing of uncontrolled spending.

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5379285/China-warns-Federal-Reserve-over-printing-money.html

[2] Image: http://www.prisonplanet.tv/subscribe.html

[3] RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve: http://www.prisonplanet.com/rbs-tells-clients-to-prepare-for-monster-money-printing-by-the-federal-reserve.html

[4] How In The World Did We Get To The Point Where The Federal Reserve Is Printing Money Out Of Thin Air Whenever It Wants?: http://www.prisonplanet.com/how-in-the-world-did-we-get-to-the-point-where-the-federal-reserve-is-printing-money-out-of-thin-air-whenever-it-wants.html

[5] The Federal Reserve Warns About The Dangers Of The… Federal Reserve: http://www.prisonplanet.com/the-federal-reserve-warns-about-the-dangers-of-the-federal-reserve.html

[6] Federal Reserve Money Printing Is The Real Reason Why The Stock Market Is Soaring: http://www.prisonplanet.com/federal-reserve-money-printing-is-the-real-reason-why-the-stock-market-is-soaring.html

[7] Is The Federal Reserve Out Of Control? Markets Across The Globe Brace For Impact As The Federal Reserve Powers Up The Printing Presses: http://www.prisonplanet.com/is-the-federal-reserve-out-of-control-markets-across-the-globe-brace-for-impact-as-the-federal-reserve-powers-up-the-printing-presses.html

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