Hey qrswave, thanks for stopping by LeftEdgeNorth and leaving a note. After reading THIS, I think I will be stopping by your place for a read and think now and then too! One of the things that has always blown my mind about the Fed is that it is a PRIVATE ORGANISATION (bank?). ANOTHER THING; have been reading about efforts to stop the incredible abound ot K street/hill inside trading...wish em luck on that one!
Kudlow is a bought and paid for ass. Sorry, but that's how I see it. All he wants to do is tell everyone how great our failing economy is. Flowers and roses, instead of compost and manure. Try telling the truth, just once, Kudlow.
Wednesday, December 21, 2005
You have to wonder whether these people believe what they spew or just spew it because they're paid handsomely.
In all fairness though, Larry Kudlow just describes what he sees in his opinion piece, A Friend at the Fed? "Daily average volume in the Treasury bond market runs up to nearly $90 billion according to the Chicago Board of Trade." [Holy Cow!!!]
"Gold trading, however, is well below $50 million, even in the recent rally."
So, Larry concludes, the bond market is the "forward-looking indicator [with] the most clout in the world marketplace."
Of course, he's NOT suggesting that "gold is irrelevant as a monetary signal"Heaven forbid that the Fed should consider taking its signals from the PHYSICAL economy, for a change. He's merely pointing out that "the central bank [is] using the bond market as its leading real-world indicator" . . . and that's the way "it should be."
"And if the authorities are still worried about a touch of future inflation, all they need do is sell bonds from their HUGE portfolio in order to DRAIN liquidity and BYPASS the unnecessary fed funds rate target altogether." (emphasis added)Isn't that special?
The FED has not ONE, but TWO ways it can clandestinely destroy our livelihoods and embezzle our wealth from right under our noses: (1) announce a hike in interest rates and bleed us directly through our personal debts; or
(2) surreptitiously sell its bonds and bleed us indirectly through our governments' debtsEither way, WE BLEED!
And Larry thinks the FED is a friend? With friends like that, who needs malaria.
I have to agree with Larry, though, America needs a free economy--free from INTEREST and for-profit bankers!
3 Comments
Close this window Jump to comment formHey qrswave, thanks for stopping by LeftEdgeNorth and leaving a note. After reading THIS, I think I will be stopping by your place for a read and think now and then too! One of the things that has always blown my mind about the Fed is that it is a PRIVATE ORGANISATION (bank?). ANOTHER THING; have been reading about efforts to stop the incredible abound ot K street/hill inside trading...wish em luck on that one!
Saturday, December 17, 2005
With friends like the Fed, who needs an enema?
Saturday, December 17, 2005
Kudlow is a bought and paid for ass. Sorry, but that's how I see it. All he wants to do is tell everyone how great our failing economy is. Flowers and roses, instead of compost and manure. Try telling the truth, just once, Kudlow.
Wednesday, December 21, 2005