"Federal Reserve officials are increasingly concerned about the potential risks of the U.S. central bank's asset purchases on financial markets, even if they look set to continue an open-ended stimulus program for now."
Dear Federal Reserve officials, a few months ago you made the final decision to monetize the majority of the US deficit. We don't really know how this will play out - in past cases, when governments tried to fix economic problems by printing money, they found out that this process cannot be reversed and it usually ended quite badly. And frankly I don't see how you will ever be able to unwind your unlicensed multi-trillion hedge fund without causing mayhem in the financial markets. As Ben B. himself told us, we are in uncharted territory. Who knows - maybe it will work out just fine and then maybe not.
But it is quite unsettling that you tell us now that you are 'increasingly concerned', just a few weeks after you explained how you figured it all out, with thresholds on unemployment and inflation.
If you really lost confidence in what you are doing, perhaps you should read P.K. or get a few trillion dollar platinum coins made by the treasury just so that you can sleep better (*).
But should this ship go down I demand at least some dignity - I don't want to see Bozo the Clown waving at us from the steering wheel...
added later: (*) I just read that trillion dollar platinum coins may not work to circumvent the debt ceiling; The reason being that "the process to determine the “specs” of the coin ... must be determined by legislation, creating the potential for another congressional impasse". link
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