Dec

17

A Caring Mother, from Jeff Watson

December 17, 2008 |

 The Fed could be classified as the ultimate carrier shell. Although owned by the member banks, it carries along thousands on its back. Like a nursing mother, it nurtures 99% of its sick children to health and gives the healthy children good exercise. The children who won’t make it generally get grafted on to stronger, bigger siblings. She feeds them well, and accommodates all of their needs. Now, as of today, the member banks are going to get free food in order to grow strong again. The Fed is the quintessential Jewish mother, scolding and laying guilt trips on her children, yet feeding, loving and defending them against harm. She’s also laying her balance sheet on the line for her charges, and will ultimately fall on the sword if necessary. Of course, she has a very rich sugar daddy, the Treasury and the full faith and credit of the US government behind her so I suspect she’ll do OK. Although the Fed, Treasury, and Congress might have squabbles worthy of the House of the Borgias, the Fed is capable of morphing from the Jewish mother into the mistress, Lucrezia, at the slightest hint of trouble. She is quite capable of taking care of herself while defending her charges, however she has been known to eat her sickest young. Ever misunderstood, the Fed is somewhat also like the Masons in the fact that they never publicly respond to criticisms, allegations, innuendo, or accusations. Like Masons, and the Borgias for that matter, they are well ensconced in their marble palace, well above the fray.

Matt Humbert writes:

The Fed is behaving like a desperate trader who keeps averaging down his position, pleading with the market gods to let him out of his position.


Comments

Name

Email

Website

Speak your mind

Archives

Resources & Links

Search