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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (334140)4/23/2007 4:39:43 PM
From: Real Man  Read Replies (1) of 436258
 
You are likely right, but something does not smell right.
This smells like the Fed is about to fail. Sure, they have
a printing response to housing-related credit derivatives
blowing up, but will the dollar bounce at 80? If not, BK
about to hit. We probably should have another 3 months to go, but the
dollar could also fall below 80 in late April/early May.
Then we'll have a dollar crisis.
So far foreign purchases of the dollar have been equivalent
to $2 billion a day coupon passes from the Fed. Maybe they
stopped buying, so the Fed has to buy? The government sure
did not stop spending. In a real BK the Fed will print a lot,
but it will work in reverse.
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