The Phaserl


A Momentous Day (Yeah, Right!)

by Andy Hoffman,

Today, I plan to finish my article in the afternoon – following the Fed’s “momentous” decision. Again, momentous is in quotes because I’m being facetious; as no matter what the Fed decides, the catastrophic damage has already been done. There is absolutely no way to unwind the world’s largest balance sheet – holding the world’s most unwanted assets, on heavy leverage – without destroying the global economy. Not to mention, the Fed is infamous for not only printing overtly, but covertly as well; plus, creating “alternative printing schemes” that don’t’ theoretically qualify as such; such as, for instance, the “swap agreements” still ongoing with countless European banks. In fact, “tapering” or otherwise, the only thing momentous about today – ironically – is that the Fed’s balance sheet will for the first time exceed $4 trillion; i.e., five times above its pre-2008 level.

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1 comment to A Momentous Day (Yeah, Right!)

  • rich

    The Kidnapper wears Prada

    Published on Dec 18, 2013
    The Kidnapper wears Prada: Why the rich are getting much, much richer, why the Fed is in a corner and what it means for you!

    As the Federal Reserve gets a new chair and decides what to do next, whether to print $85 billion a month more or not, we examine the heist, who gets all the loot, why today’s kidnappers wear Prada. Wake up. See what happens when financial kidnappers dress up as loyal patriots and extort money in the name of the common good.

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