To: AndyJackson
Yes, when the federal government creates $200B in currency and gives it to someone else, they just picked the pockets of all of us who are not in line to get any of it. The Fed is not creating $200B in currency. They are swapping, on a temporary basis, $200B of Treasury securities (which the Fed did not just create either) for other, less liquid securities. It's not a free giveaway and it doesn't pick your pocket.
97 posted on
03/12/2008 8:01:22 AM PDT by
Toddsterpatriot
(Why are protectionists so bad at math?)
To: Toddsterpatriot
To: Toddsterpatriot; AndyJackson
The Fed is not creating $200B in currency. They are swapping, on a temporary basis, $200B of Treasury securities (which the Fed did not just create either) for other, less liquid securities. It's not a free giveaway and it doesn't pick your pocket.
If I could take bunch of worthless, illiquid toxic waste securities to the discount window, and get a $200billion loan from the fed, which I then to repair my balance sheet so I can then lend 10 to 1 on it and further multiply the money supply, you can be damn sure it's a free giveaway & everyone outside the banking system is getting screwed.
Why do you think gold hit 1000 today? Oil 110? Wheat, corn, hell EVERYTHING is at all time highs against the dollar? Maybe it's inflation from incessant money printing?
Todd, at some point you're going to have to throw in the towel on your Baghdad Bob routine. It's getting a little old.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson