We have been printing money, Philv, and monetizing debt. Now it is time to bring those debt instruments home.
You see, the jas. have been buying US treasuries with their foreign reserves in US$ held on their shores. When we buy them back, as the fed Reserve is doing, I firmly suspect we are sending back worth less and less and less yen. In effect, we have monetized that debt by the continual printing of US$, after receiving back our currency when they bought our 10yr bond/notes with them. Now we have the "retired" bond, the worth less and less dollar is sitting in OUR foreign and domestic reserve accounts and we shipped'em back they yen.
Neat trick, eh?
So we have our worthless bond back,
need to print less money because we just repatriated $12 billion "strong in yen terms'-Dollars from the Japanese.
And our printing presses can take some down time, because there are more "dollars" where those silly things came from.
Add to that the current "re-styling" before repudiation of US currency currently underway, and it is only a matter of time, before it is all moot anyhow.
No funny hats, ok?
Always glad to chat w/you.
Have you let go of the conspiracy rag yet, counselor?
O/49r
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