Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Chispas	8/19/2008 9:51:13 PM
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Q. how do you think the Federal Reserve and the Treasury Department are going to recapitalise America's financial sector? With Chinese savings? With Sovereign Wealth Funds? A. the Fed exchanges what remains of its stock of Treasury bonds for garbage mortgage debt (there's plenty more on and off bank balance sheets). Eventually, when it runs out, it will have to buy more bonds floated by the Treasury. And where will the money to buy those bonds come from? Where it always comes from when you have a fiat money system: out of then air! More - dailyreckoning.com.au

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