We are at the mercy of the Federal Reserve Bank... great.
Does no one understand the implications of this? Why is this going on? Propping up the financial system with more manufactured currency will not last forever and will only serve to make the crash even more intense. I'm honestly getting really sketched out at this point. I think I posted about these auctions a bit ago but the scale is unheard of.
2.19.2008
Dammit, I hate reading the news
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“The banks are increasingly giving the Fed the garbage collateral nobody else wants to take ... [this] suggests a perilous condition for America’s banking system.”
I wonder what this garbage collateral is. Banks must be putting up their skyscrapers or something..
I don't think I understand the implications of this. I'm also curious to why we're at the mercy of the Federal Reserve...?
Yo Jason check out the videos from the post on Feb. 15 (I think). Organized documentaries probably do better than any of us trying to explain it.
Yea, I back up Patrick's judgment. Also, you can read my previous posts on the Fed to see part of what's up. Those documentaries pretty much lock it down, though.
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