But it's a secret panic; because instead of media Chicken Littles wailing (to the Little People) that "the sky is falling" we have the Banker Apologists deployed to soothingly assure us "problem solved." In the U.S.; we have the proverbial "calm before the storm." The government just confessed that the number of non-employed employable Americans (once known as "unemployed") had hit yet another 30-year high. In other words there are less Americans with jobs today than there were when the "economic recovery" began in 2009. It's only a matter of time until even the most dim-witted American Sheep pulls out their fingers and toes and starts doing some "calculations." When it sinks in that less people working today than in 2009 means that the U.S. economy has been steadily losing jobs throughout the last three years, they will (finally) realize that the entire "U.S. economic recovery" has been nothing but a gigantic media/government lie . Meanwhile, B.S. Bernanke busily (and secretly) counterfeits U.S. dollars with his magic printing press. With the U.S. already clearly bankrupt , this means U.S. Treasuries are already worthless. However, the world's biggest Deadbeat Debtor can only delay debt-default by manipulating Treasuries prices to the highest level in history -- since that minimizes interest payments on the U.S.'s $16 trillion national debt. Thus Chairman Ben secretly counterfeits U.S. dollars in order to secretly buy up every U.S. Treasury in sight, the only way that implosion of the Treasury market Ponzi-scheme can be delayed. What the European Central Bank has just proposed doing is exactly what Chairman Ben has already been doing for the last three years, and for exactly the same motive: to minimize interest payments for Europe's Deadbeat Debtors. In other words, not only does the U.S. already have its own Secret Panic, but it's much further advanced than that of Europe. The reason why B.S. Bernanke secretly (and illegally) does what Europe is about to do openly is because the U.S. economy is in actual fundamental terms far more crippled than the economies of Europe. It needs the Federal Reserve to secretly engage in this bond-buying because in the words of former Goldman Sachs banker Jeffrey Christian , manipulation works better "if the market doesn't see you coming." One of the Principles of 21st century Western banking is that when you're manipulating markets you will be more successful if you also hide it/lie about it.