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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: No Mo Mo who wrote (5464)7/24/2000 6:45:04 PM
From: patron_anejo_por_favor  Read Replies (1) of 436258
 
<<Then who is left holding the bag for this govt paper the Fed purchases? >>

Anyone holding dollar-denominated assets, in the form of debasement of the currency. This includes stocks, bonds, money market accounts, etc. People on a fixed income, of course get royally screwed. Our foreign friends who hold U.S. denominated debt, are helping us hold the bag......

As the Temptations (or was it Sonny and Cher?) said, "And the Beat Goes On"
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