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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (31193)	8/16/1998 8:00:00 PM
From: Peter Singleton	Read Replies (1) \| Respond to of 132070

Earlie, You said, <<Those holdings were not sold into the open market (far too visible and dangerous), nor acquired by the Fed as "assets" (ditto above). The only other way this could have been accomplished is through the "monetizing" of the debt, i.e. via the Fed's printing presses.>> Could you expand on this? What do you mean by monetizing the debt ... do you mean the Fed created new money to purchase them, vs acquiring them in exchange for existing assets? And who was the researcher behind these findings, and how did they unpack this, and where did you hear about it? Kind of a crazy world, ain't it. The Japanese holding up the Nikkei through the postal savings system, HKMA investing in Hang Seng, and now, maybe this. It's hard to avoid the conclusion that there's something big, and irreversible, and accelerating in all this. Peter