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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (53970)11/25/2013 9:35:22 AM
From: ggersh1 Recommendation

Recommended By
bruiser98

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Remember they tell us Gold is only worth so much....-vbg-

n hindsight, the crisis ended - precisely - on March 16, 2009, when the Financial Accounting Standards Board abandoned FAS 157 “mark-to-market” accounting, in response to Congressional pressure from the House Committee on Financial Services on March 12, 2009. That change immediately removed the threat of widespread insolvency by making insolvency opaque. My impression is that much of the market’s confidence and oversensitivity to quantitative easing stems from misattribution of the initial recovery to QE. This has created a nearly self-fulfilling superstition that links the level of stock prices directly to the size of the Fed's balance sheet, despite the absence of any reliable or historically demonstrable transmission mechanism that relates the two with any precision at all.
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