Quel Surprise!
Oct. 13 (Bloomberg) — The Federal Reserve led an unprecedented push by central banks to flood the financial system with dollars, backing up government efforts to restore confidence and helping to drive down money-market rates.
It’s hard to imagine anything else that better convey the true nature of central banking and the present cheap fiat money paradigm, than what we are currently witnessing. Given the recent turn out of events, with one government bailout after the other, today’s joint action could hardly come as a surprise to anyone. To assume any other response would be as naïve, as giving tons of money to a pathological gambler, believing he’ll not spend a dime!
