Mr. Bernanke: The New Death Star
Jul 21st, 2008 | By Jack Crooks | Category: Politics & Economics
As you can see, the period up through June 2008 completely dwarfs how much the Fed lent out prior to that year. In fact, it makes all other periods look like a flat line!
The spike to more than US$170 billion dollars of borrowings reflects the newly created auction facilities.
How Do the Fed’s Actions Affect Your Savings?
Bernanke recently admitted that the U.S. dollar needed to work off some of the excesses from the rally that began in the mid 1990s. That’s part of why the bear market has extended so deep for the buck.
The dollar has done that — and more. But the charts I just showed you prove that the dollar is not nearly out of the woods yet.
Bottom line: If the Fed doesn’t change its attitude and stop feeding debt creation, asset prices will spiral higher, and more pain will be crammed into the closet until someone or something knocks the door open.
JACK CROOKS, Editor of World Currency Options and The Money Trader
EDITOR’S NOTE: Assuming Bernanke keeps passing out more funds, and refuses to budge on interest rates, there will be more pain for the dollar this year. Find out how to trade your dropping dollars for stronger foreign currencies - that have TRIPLE-DIGIT potential. Get all the details here.
Source: Mr. Bernanke: The New “Death Star”
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Jack Crooks is editor of World Currency Options, and a contributor to the World Currency Watch blog. Jack is a seasoned investment adviser, who has held key positions in brokerage, money management, trading, and research. He is the founder of Black Swan Capital, a currency advisory and management firm, and of Ross International Asset Management.
