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Originally Posted by brp987
Problem is, the credit card we use for hut burning implements is in danger of being refused. Peter Schiffs theory on QE2 is that Fed would like to maintain the appearance of normalcy and avoid the panic that would result if the Treasury had an auction and no buyers showed up. It is widely acknowledged that QE can't lower interest rates much from where they are. So why do it? Because rates might spike dramatically if the Treasury's big auction party was greeted with crickets. Not to mention all the fun that would ensue given we have an adjustable rate mortgage on our national debt invested in short term bonds.
Zerohedge had a much more negative take on this QE stuff but I'm not familiar with them enough to know if they are credible. Schiff is the gold standard in my book, so to speak. GLD =  |
tell pete schiff the US issues the credit cards and uses them...no one can afford not to accept them...still dont believe...well then the president can make one phone call to the mint ....print mees sum of dat green stuf hommie