Manufacturing Money
Out Of The Blue
In his latest letter, Tim Price relates the thoughts from the St. Louis Federal Reserve President's James Bullard to several others noting how the insanity of the current levels of money printing, debt & economic challenges .. Price: "The financial environment is certainly flowery, courtesy of central banks who seem to want to drown markets in liquidity. They may end up succeeding. If they gave awards to commentators indefatigably pointing out the sartorial failings of the Emperor's new clothes, the tireless Doug Noland would already be a Laureate, many times over. This from his latest Credit Bubble Bulletin:
From Q&A: 'In the spirit of simple questions, you're spending a Trillion dollars a year on this asset purchase program…'
Federal Reserve Bank of St. Louis Fed President James Bullard: 'It's worse than that. We're manufacturing it out of the blue.'
Continuation of question: 'That's my question. Where does that money come from?.. "
Bullard: 'We're creating the money.'"
Price notes his firm's investment preferences in creditor country bonds, uncorrelated assets & gold - "because the West is bankrupt".
LINK HERE to Noland's essay 
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