SA stocks cheer US Fed action

2012-09-14 09:45

Johannesburg - SA stocks hit a new record high on Friday lifted by the US Federal Reserve’s aggressive new stimulus to drive growth, despite the labour unrest in the domestic mining sector.

The blue-chip Top 40 - (Tradeable) [JSE:J200] index hit an all-time high of 32,314.56. The broader All Share [JSE:J203] index touched a record high of 36,554.09.

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  • wwrer.ww - 2012-09-14 10:17

    Some good cheer for once in a while. Print more dollars, keep the commodity prices high.

      greg.meyer.543 - 2012-09-14 11:10

      Do you realize how insane this is? A government needs money so it issues bonds to get people to loan them the money they need at interest... But no one wants to buy those bonds so the very government that issues them prints up fake money into existence and then buys those bonds FROM ITSELF and no one says anything? I mean this is so ludicrous that is undermines the very foundation of finance itself.. Yet NO ONE SAYS ANYTHING? Let me just tell you there could be no clearer signal that the entire financial system is based on ZERO actual rules if they can simply print more money that doesnt exist to boost the financial system... If you're an economics major you may as well be majoring in astral projection theory at this point... I mean seriously how can WE THE PEOPLE be expected to play by rules pretending this money has any value if the governments themselves are violating the very foundation of economic theory? This is a total joke at this point.. That's like you saying, I need some cash... let me see if I can get a loan... nope no one will loan me any money... ok so let me just go ahead and use my PC and printer and print up the money I need to buy my own loan... This is different than what's always been going on with fractional reserve banking... This is outright fraud... It's insane

  • dallas.blackett - 2012-09-14 11:18

    If you print your own money you will go to jail for counterfeiting, however the Fed can do it whenever they please. Just a question of time before this whole house of cards falls down

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