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Fri Mar 21st 17:30 PM | Rating: 0 0
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Global Precious Metals Correction: Healthy and Overdue

"the Fed didnt print more money to solve the Bear Stearns failure."

No, but with their swap, they effectively tacked the $30 bil and all the other swaps they've been doing onto the national debt. So you can put this move into the "fiscal irresponsibility" column. Fiscal irresponsibility: borrowing huge amounts, now from overseas mostly, to be thrown at whatever problem comes along. This short-sighted fiscal behavior is one of the root causes of the dollar decline. Thus, it's my belief that although it wasn't directly inflationary, the BSC move is inflationary nevertheless.
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