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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (11231)8/21/2008 3:15:47 PM
From: Telemarker  Read Replies (1) of 50331
 
Hi Jim. Two questions:

1. Since March, the fed has been swapping T Bills already on their balance sheet for dubious paper from the banks and houses. Do you think that this has slowed monetary growth stats. from where it otherwise would be over this timeframe?

2. Do you think that Bernanke's unconventional measures, as set forth in his infamous Dec., 2002 speech are off the table? If not, do you think these measures would be ineffective and if so, why?

federalreserve.gov

When I read this one in '02, I figured that Ben was sacrificing his central banking career - taking one for the team. Then he lands up as chairman!

I've long believed that deflation would be the end game in all of this, but thought that it may happen only after the dollar is destroyed. Ben has a good blueprint to achieve said destruction. I also remember talk of currency stamps during this scare of 2002.

Thanks in advance.
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