New and Improved Fed, now with more junk
Deadhorse
Posts: 3,720 ✭
Treasuries accounted for 91% of the central bank’s reserves a year ago: now 48% of its coffers are filled with riskier investments.
Once upon a time—just six months ago, in fact—financial services firms sank or swam on their own and the Federal Reserve had a clear mission and a nearly pristine balance sheet of safe Treasury securities.
No more.
Linky-do
Once upon a time—just six months ago, in fact—financial services firms sank or swam on their own and the Federal Reserve had a clear mission and a nearly pristine balance sheet of safe Treasury securities.
No more.
Linky-do
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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