Saturday, January 22, 2011


What else can you call the two following developments this week.  True insanity.

First and I can't even begin to understand this one nor is it worth the brain power to get into the minds of the newest in ponzi schemes.  Somehow, again don't ask me how the EFSF (European Financial Stability Facility) is looking to buy back debt which now trades below par.  Who are they buying it back from?  Don't they own it?  Didn't they buy debt from Ireland and Greece, etc?  

This one is amusing as well.  So there has been no shortage of talk about the Fed and the capital losses they have realized in just a few months as treasuries yields have risen.  To remain "solvent" the Fed will adjust their liabilities to offset the drop in asset prices.  So the more they lose the less they owe.  What?  I'm not making this stuff up.

Do these events sound like desperation to you or did I just fall on my  head and lost any sense of rational thinking I had?  


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