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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: John Madarasz who wrote (122661)9/17/2001 9:58:34 AM
From: pater tenebrarum  Read Replies (5) of 436258
 
Hi John, glad to be back. the FED...has added some 200 billion dollars in liquidity to the system over the past three days, an unprecedented money printing effort, that hints that they are attempting to stave off a global derivatives meltdown.
since i have little doubt that the system will actually recover from the shock, we will be faced with an even bigger paper mountain once the crisis passes, just as happened post '98. admittedly worries about the system's integrity over-rule such concerns at the moment, but this is a Weimar style effort...the long term consequences could be quite dire.

as an addendum, if we had an honest money system, they most likely wouldn't need to worry about a derivatives melt...
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