Portfolio? Is that what they call it. The government and the MSM continue to spit out these news releases as if people still believe they are grounded in something other than fantasy, manipulation and off the books chicanery. Who on earth are they going to sell to, another mole?
Treasury to sell $142 bln MBS portfolio
Wonderland folks, that's where we are.
Separately, but not really separately, the 'no QE3' story has gained enough traction over the last few weeks that maybe policy makers can ease off the jawboning for a bit. As I think Jim Sinclair says, we're likely in for QE to infinity cause it's inflate-or-die, inflation onDemand. Just take a look at the junk bond market today; there is no perceived risk.
I will play their game and beat them at it. No silly, not the junk bond game; the precious metals.
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