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So he voted in last week's poll?
If the Fed continues to buy crap for dollars, or, just print dollars, at some point will people decide that dollars are worthless?
Is this a trick question?
The Turd quietly chuckles to himself.
Nice call on Silver Turd. You did well for ZH followers.
remember that all of the "hand wringing" on the *crap* the Fed buys for its balance sheet is not "loss" on the whole, and when you're the institution controlling the money supply, your timeframe is.... basically perpetual. interest paid on the current holdings will go a long way toward the Fed recouping its losses, and that with capital appreciation as the entirety of its holdings won't fail, means that in the longer term, the Fed will demonstrate a positive "net" return on its current (and future) inventory of bonds.
shawn a. mesaros, pamria, llc
Uh, huh. Yes, it's always nice when Uncle Benny buys toxic crap at full price from your fellow 'money-changers'. Makes them feel flush again. Sure hope some of that wealth trickles down to the masses, at least to overcome that dollar debasement.
Seriously, what a ridiculous pile of drivel.
I don't see why... They were able to engineer a Bagholder frenzy in GM this afternoon, surely with a little CNBC magic, every moron pension fund will be scrambling to snap up high yielding Harrisburg bonds.
There are a lot of agencies standing line for a piece of $600B
when do they start using the word "laughingstock" with this administration
I think the word "Laughingstocks" is already being used, to describe our current equity markets.
Along with big chunks of MBS's. Rates heading north quickly this week.
They should buy it all !! Treasuries, Agencies, Munis, GM Stock etc. etc. JUST BUY IT ALL. ALL OF IT !!!
ITS A FUCKING CHERADE ANYWAY.
Muni's? MBS's? and Treasuries? Oh my! That's a lot of bailing. We're in the land of OZ people.
Black & White or Color part?
You bet your buns Art. Once the precedent has been set to bailout the world there can be no hesitation on Munis. They will not do it piecemeal however.. they will bundle it up into one nice multibillion dollar package within months.
Will Buy Muni Bonds Next
I really enjoyed reading the Joe Hill part. We all have a little Joe Hill in us, eh?
The question of Muni's is a little rhetorical, directly or indirectly somehow is the real question.
I suspect the latter.
Munis or murder.
I think I'm amongst the minority position here who don't think they bail out the muni debt. What better way to engineer a federal takeover of some of the largest states in the union than to allow them to go bankrupt. A state is only as sovereign as it's balance sheet.
Ah, but what if some states decide then to secede? Perhaps here in sunny California we will need to go to the Chinese to support our munis? We have far more in common with them than we do with New Yorkers or the Beltway people. We already provide a great deal of their higher education needs (which are partially financed by munis), we invent and develop what they ultimately manufacture, we sell them 100% of all our cotton (along with many of our other ag products), and we share their entrepreneurial spirit...unlike the East Coasters.
While we are at it, might as well combine CA with Mexico since we have no true border with them anyway.
United State of America.
Hey, note Van Rumppie's (Coincidence, bet he doesn't even know Barney...) comments above, that the end of the EU and Euro is nigh, unless everybody buckles down and does whatever he and his other self appointed leaders can't figure out needs to be done other than admit the whole thing's a fucking failed charade.
Get this, it gets even better!
It was only about a week or so ago that the same Van Rumppie was saying that the world of individual nations states is gone and the time has come for the (NWO) new multinational global alignment.
Fuckin'-A. What a great do as I say, not as I fail.Fucktard.
Brussels used to be such a quaint wonderful place years ago.
Fed will have to buy GM stock here soon down $1.00 from 1st print
I know we should be patriotic and idiotic and stand behind our govt BUT hope the market and all surrounding it burn to a crisp. Then we can start over
If he doesn't buy munis, the world crashes and burns.....
I'm sure Bill Gross and the Pimco crew are loading up on munis with ebery Moodys downgrade since they already got the wink from Big Ben!,
Bermonkey is simply doing what he said he would. Love him or loathe him, his actions are consistent. Bermonkey is an idiot, in the true sense. And if his policies continue, hyperinflationary collapse is a certainty. Printing more claims on assets in the context of a static or shrinking asset base is as insane and dangerous as it looks. I doubt 1 person out of 1,000 can see this now.
Regardless of your polticis, this classic folk song from the 60s by the legendary Mr. Phil Ochs is am outstanding peice of work and sums up Joe Hill in an awesome ballad
The Fed is supposed to be required by law (remember that?) to be limited to securities backed by the US government. That is most likely why the Treasury agreed to back Fannie and Freddie for three years. I wonder if the Build America Bonds might be a back door to allow it to buy munis. The BAB program scheduled to end soon, but it couls always be extended.
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