MsDoodahs
10-04-2008, 07:48 PM
http://www.lewrockwell.com/rozeff/rozeff197.html
"The existing bad debts are too large. They are held by too many large banks. It is not a case of one institution that is too large to fail. It is a case of too many institutions that are too large to save. If the Fed attempts to save them all by outright large-scale debt purchases, the result will be a huge dollar devaluation and increases in Treasury bill rates that lower the value of the Fed’s own holdings. The risk of that policy is hyperinflation. That option is not open."
:eek:
"The existing bad debts are too large. They are held by too many large banks. It is not a case of one institution that is too large to fail. It is a case of too many institutions that are too large to save. If the Fed attempts to save them all by outright large-scale debt purchases, the result will be a huge dollar devaluation and increases in Treasury bill rates that lower the value of the Fed’s own holdings. The risk of that policy is hyperinflation. That option is not open."
:eek: