This Doesn't Sound Good....or SoundSubmitted by Susan on Mon, 01/26/2009 - 13:40
Please read Karl Denninger's post Bernacke, Game Over? linked below
...."Treasury prints Ts to finance its operations but the guy who buys them is the guy who prints the money in exchange. Therefore every additional Treasury sale is no longer a debt sale, it is an act of printing money by the Central Bank and destroys the standard of living of everyone in The United States.
This, should Ben engage in it, is a willful act of destruction of your private property rights, your wealth, and your income. It is not an accident, it is not "necessary" and it solves exactly nothing.
It is simply an attempt to defraud - yet again - the American People, this time by attempting to "make ok" the financing of deficit spending that the market simply will not support at the price Treasury wishes to pay."
This would be significant....Could the Economics Experts on here weigh in please?