On Mar 25, 2009, at 4:01 PM, Chris Gehlker wrote: > > On Mar 25, 2009, at 7:24 AM, Charles Bennett wrote: > >> "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 and a few others. I wish I could find a softer way to say this > but you just come across as very ignorant with posts like this. I've > recommended this page before: > <http://baselinescenario.com/financial-crisis-for-beginners/>
"But this doesn’t affect the Treasury department directly, because Treasury got its money on the day it auctioned the bonds off "" Ok.. so where do YOU think the Treasury gets it's money from? Does it have a day job I don't know about? =c= _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
