"The Federal Reserve starts purchasing long-term Treasuries today,
aiming to bring down borrowing costs by employing tools last used in
the 1960s."
"“Clearly the Fed has credibility and buying power at the moment, so
they can force prices up” on Treasuries, said Jay Mueller, who manages
about $3 billion of bonds at Wells Fargo Capital Management in
Milwaukee."
WTF!! The FED *IS* the Treasury, is US..
That is exacly the same as me "loaning" myself $100 by taking it out
of my wallet, putting in my pocket, and claiming that I have $200 in
assets
since I have $100 and I'm OWED $100... Of course, keeping it to
scale, in their case they intend to then go spend 3000 dollars, mark
the 200 as GDP and the rest as deficit so our kids can pay the loan
later.
Insanity.
<http://www.bloomberg.com/apps/news?pid=20601087&sid=aEFIWsIe24eA&refer=worldwide
>
Chuck
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