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The illusion is becoming more convincing, with bid-to-cover and other auction parameters showing not only that the decision to print unlimited funds was well received but that it will slowly dissolve into the economic fabric of the universe with no ill effects or even footprints in the dust.
All hail the great and wonderful Bernanke. I nominate him for sainthood.
Ok, now that that is over...time to rally
Now my monthly participation at http://www.treasurydirect.gov
buys me a dinner in place of a sandwich!
They're now counting spectators in the bid to cover. They know that we're all watching every auction, holding our breath.
Geither must have promised California to China on his recent visit.
If governments are printing money AND that money is not being lent out AND that money is not going into paychecks AND people who are still employed continue to contribute to retirement plans, AND banks take funny air money courtsey of central banks worldwide AND central banks are keeping rates low AND nobody is paying anything back to anyone, THEN where does all the money go? It seems like it has to go into stocks and/or bonds and that won't change until someone decides to actually collect on debts. Or, the sky is the limit if we debase our currency.
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