Bearing in mind that the $100 bill has dropped in value to $2 in my lifetime, and that the US Dollar is currently at a three-year low, it's a sure bet that the question NOBODY will 'ask' at Bernanke's irrelevant Presser today is:
"Is it US policy to destroy its own currency?"
First, take a good look at this dollar chart. Note the time of Ben's Press Conference and the time the Dollar sank below the waves!
- What a coincidence.
Before QE-1, the Fed purchased bonds through swaps totally hidden from view.
Sure, QE-2 [the $600 bn bond-buying program] will end in June, but there will be a QE-3 immediately following it....just 'hidden' like pre-QE-1 antics.
- Maturing debt reinvested into Treasuries can do the heavt-lifting without drawing unpleasant political or public attention.
After all, what YOU don't know cannot hurt you....right?
- Out of sight, out of mind and all that.
Thursday, 28 April 2011
Keynesian Seppuku [dollar hari kiri]............from Rico
From Theo Spark at 07:51
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