Les,
Ah yes, foreign money. Indeed, that is what is propping the dollar up. But, is that the Fed's fault, too, that the rest of the world is not doing as well as the USA and hence foreign investors consider the Dollar and US investments to be safe havens!?
And then, that has got nothing to do with the Fed's Y2K policy, anyway. What was in its control and stated objective - to first increase the money supply to prevent a liquidity crisis during Y2K, then slowly remove it post Y2K - it executed on, rather brilliantly IMHO.
As for the buying back of the Treasuries, that's unrelated to Y2K, so I do not get your point there.
-BGR. |
