Powder Blue Report

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Friday, August 10, 2007

Money Out Of Thin Air

Today was another watershed day in the markets. The Fed today has pumped an eye popping $38 billion dollars into buying junk mortage debt today from flailing hedge funds and institutions. That's 38 with a B billion dollars. The name of the game is bailout when the shit hits the fan like it is now. If you or I tried to do what the Fed did today it's called counterfeiting and you can go to jail on a felony if convicted. When the Fed does it, it's called "adding liquidity" or calming the markets down. What this really is, is a giant F you to the value of our US dollar. Say hello to inflation. The Federal Reserve a big cruel joke. They have no idea what is going on right now. What we're seeing right now is the unraveling of the alchemy of modern finance the way its been done for the last 80 or so years. If anyone wants a good book to understand what the Fed is doing right now and why they're doing it, go pick up "The Creature From Jekyll Island by G Edward Griffin over at Mr. Griffin's website Reality Zone or Amazon.com

3 Comments:

  • At 8:13 PM, Anonymous Phil Paule said…

    Allan

    I would love to read that book, but not for $68 on Amazon

     
  • At 8:29 PM, Blogger Allan Bartlett said…

    you can get cheaper copy on the author's website reality zone

     
  • At 9:09 PM, Blogger Agent Orange said…

    Allan,

    Unfortunately you are reading my posts only if I am calling communists to be communists and considering that to be a "name calling".... what ever that Bolshevistic crapola means?

    In my prior post, before this 38 billion mortgage bailout, I have clearly stated: "Federal Reserve chairman Ben Bernanke, if necessary, will throw money out of a helicopter in order to keep the US economy going."

    Well today the helicopter arrived to the Wall Street, so I do not understand your surprise of its arrival especially if I have advised you about it in advance.

    There will be more of them and dollar will be split into domestic and foreign currency. That is why I have advise readers not to hold on dollar.

    All that economical excitement... and what you do?.... making sure that your blog contains no "name calling".... How intellectually pathetic.

    You are getting Pedroza syndrome.

    -Stan

     

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