And your explanation for why the FED is buying up stuff they normally refuse to touch with a barge pole is?
I forget, did you ever realize that new loans increase M2 and MZM?
This sounds like a great question. I'll be happy to offer an explanation of why the Fed's buying something, but first you'll need to tell us if you're talking about the Fed loaning money or guaranteeing other people's loans. If there's a case where the Fed's actually buying something, please tell us just what it is.
Thanks.