Wednesday, August 26, 2009

Backdoor Monetizations via Custody Account?

Interesting piece on ZeroHedge about Chris Martenson's article "The Shell Game - How The Federal Reserve is Monetizing Debt."

From the ZH article:

"Whether this speculation of dollar abusive policies by the Federal Reserve, which will stop at nothing, to reinflate the credit bubble and debase dollar-based debt, is in fact true, is questionable. However, definitive answers from Chariman Ben will not be forthcoming until he is forced to show his hand, whether via a legal order such as the recently won Bloomberg lawsuit, or through political means, such as HR 1207 and S 604. In the meantime, it appears the Federal Reserve, whose accountability should be to the entire US population, not just to a select crowd of Wall Street oligarchs, continues to pursue activities that facilitiate at any and all cost the stratification of US society into that minority that will benefit vastly from the Fed's ongoing actions and the significant majority who will see the purchasing power of the paper in their wallets gradually disappear, and effectively put the entire concept of the "American Middle Class" at risk."