Friday, March 9, 2012

The Latest Trick

The news is that the Federal Reserve in the US is going all 'sterilized' on us. We wish.

The latest news byte reveals how the Fed wants to put 'credits' into the system using a method of 'sterilization'.

Once again a new term for the same old thing, 'money printing'. These terms are designed to confuse. Ever tried to read a company financial report. It's like another language. And don't get me started on the langauge of  IT professionals.

So here we are at a junction in history when Central Banks are disguising the very means to the destruction of the paper money system that we know.

Read this post from Dave in Denver over at 'The Golden Truth'. It explains brilliantly what the Fed is doing.

Word today is that 75pc of bondholders have agreed to swap their bonds for bonds worth less. How this sort of agreement will affect sovereign bond sales from this point is moot. If you were an investor would you buy a bond knowing that the rules could change in an insatnt and you would be left, like the poor Greek bondholders, with 50% less value.

But, the ECB is covering euro bond sales and now, with this latest trick from the Fed, they are covering US Government bond issuances.

Take me off to Kansas...


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