Thursday, November 15, 2007

The Fed

Rob Moody, Strike-the-Root's founder, sent me a link to a CNBC article reporting on the Fed's latest injection of "liquidity." Banks were hurting because of the mortgage write-downs, and the Fed Funds rate was threatening to rise unacceptably. So the Fed did what it normally does, flood the loan markets with counterfeited money.

". . . the central bank added more liquidity to stem a rise in the federal funds rate."

Dollar holders are paying for the banks' recklessness.

Rob is also my primary article publisher, and he ran one of mine today on Ron Paul's "Gold, Peace, and Prosperity."

More coming.

No comments: