Whether QEII is followed by a third installment or not, Jim Rickards explains that "the Fed's balance sheet is now so vast that the reinvestment of principal payments from the existing assets will be enough to monetize a large portion of the Federal deficit without having to increase the total size of the balance sheet." Isn't it interesting that the left, which is always calling on us to follow the lead of other countries over some socialist cliff, is suddenly tone deaf to the protests of all our trading partners. It is the conservatives and tea party folks who join the rest of the world in protesting the Obama/Bernanke heist.
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