Monday, April 15, 2013
"After I'm dead, none of this will matter."
- "Big Benbot" Bernanke, AKA The Moleman
That's the only rationale he could possibly have for printing money in order to buy U.S. treasury bonds. I thought the government was supposed to sell bonds to other people, not to itself. If the government then takes a huge loss on said bonds, say after China and Japan are fed up with our currency manipulation and sell all their U.S. bonds, who really loses?
I guess the safe bet is always on the U.S. because if it were to fail, it could fuck up everybody, and nobody wants that. Just ask Iceland. Still, 2 years worth of gold gains were just wiped out in the last 2 days; something's up.