Excellent work once again from Chris Martenson. He lays out pretty convincingly how the FR is buying junk agency debt from foreign holders, (aka Fanny-Freddy and other junk debt), and propping up the appearance of foreign purchases of US Treasury debt.
Warning, this article will disabuse you of any hope for the future of our currency. Read at your own risk
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities.
How the Fed Reserve is monetizing debt
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Posted - 09/03/2009 : 18:32:32
