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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: greatplains_guy who wrote (61058)	1/9/2013 11:19:15 PM
From: Wayners	Read Replies (2) \| Respond to of 71588

There are a few dissenters to Helicopter Ben already showing up in the Fed minutes. One said hey, we the Federal Reserve are under no obligation to buy U.S. Govt debt. I found that to be a bombshell. It's true. Where in the Federal Reserve Act does it say the Federal Reserve HAS to buy U.S. Govt debt? It doesn't. They have that mandate of "steady prices" but anybody that lived throught the 1970s and early 80s knows that this mandate was ignored until Paul Volcker stepped in. When do people know. Sure it's when the checks stop coming in. Then I had this vision of big bloated tick dropping off the neck of a large dog, but that's not right either. It's more like when the flea and tick collar is put on. That's when it's game over. Sure the monopoly money will still go out but it won't even buy a flea or tick collar, even the big denominations.