Free Republic

Most of us are gathered at the station, watching for the Inflation Express to come rumbling in. But we've been waiting for a while now. Just when should we expect the big locomotive to arrive and start pushing the prices of most things uphill? We'd all like to know the exact date, of course, but no one can know for sure. Not even a careful reading of the Mayan calendar will help. What we can do is estimate a time range for price inflation to show up, and that alone should have some important implications for investment decisions. Why It's...

Am only posting part because of video at site showing tax cheat tim lying! Much has been said on Zero Hedge about the Fed's monetization of Treasuries, usually via the NY Fed's POMO activities, which on occasion buys back Treasuries as promptly as 5 days after any one given auction. Yet we were dumbfounded by this piece of information, presented to us by Jim Bianco, which demonstrates that the Fed's monetization of Agencies is far more blatant than anything even encountred in Treasuries. Below is the 10:00 am announcement of a new $5 billion auction of 2 Year Fannie Agencies:

Fed Will Now Monetize The Most Recently Issued Agencies By Tyler Durden Created 09/01/2009 - 17:53 The Federal Reserve announced earlier a shift in its strategy in purchasing Agency debt, whereby it would purchase almost exclusively the most recently issued Agency paper [1]: Prior to August 31, 2009, purchases were focused on off-the-run securities in that category. Going forward, purchases will include on-the-run securities in that category. This change represents a technical adjustment designed to mitigate market dislocations and to promote overall market functioning. Over the course of the program, the Federal Reserve may change the scope of purchasable securities....

On April 14th, the US Federal Reserve continued on a path that was almost unthinkable as little as six months ago. The Federal Reserve Bank of New York bought $7.3 billion in US Treasuries on Tuesday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included notes maturing between 2013 and 2016. Dealers submitted $26.4 billion in debt to be purchased. The Fed will continue its buybacks with a third operation this week, heading towards purchasing $300 billion in Treasury securities over the next six months. To put this in perspective, $300...

The State Treasurer's Office has denied an Open Public Records Act (OPRA) request filed Republican members of the Assembly Transportation and Public Works Committee. Yesterday, the trio sent a joint, second letter to Governor Jon Corzine asking him to compel Treasury to release an $800,000 consulting report on the proposed sale of New Jersey toll road assets for public review. "Late Friday, we received word from treasury that this report would not be made public," says Assemblyman Sean Kean. He warns, "We are prepared to take legal action against the Administration if they refuse to turn over the results of...