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3RD DCA ROUNDUP

By "Captain Liberty" and "Rumpole"

Before we get to the 3rd DCA, the Fed, as we predicted the other day,  agreed to buy about a billion dollars of US Treasury notes. The NY TImes article is here. The effect will be to lower interest rates, and give the Government treasury about a billion dollars more to spend. You see, this is a slight of hand. How does the Fed get a billion dollars to buy US Treasuries? Why it orders the treasury to print a billion dollars, which the Fed then promptly uses to buy Treasury notes, sending the billion back to a different arm of the government for it to spend on salaries and trips and spa sessions  for AIG employees. Can you say I...n...f...l...a...t...i...o...n?   That's what happens when countries devalue their currency by printing more of it for no good reason...continue to full post

Full post as published by Justice Building Blog on March 18, 2009 (boomark / email).