Helicopter Drop
Amusing cartoon, via Jim Sinclair:
What's so amazing about this is the following: When the inter-bank rate, set by the open market (but based on the Fed Funds Rate) surges 75 basis points above that Fed Funds Rate, what else can the Fed do but warm up the choppers?
Otherwise, banks would be lending at the equivalent of three 25 basis point rate hikes.
Sunday, August 12, 2007 | 09:02 AM | Permalink
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Comments
Pure monetary inflation for sure. Great Cartoon. It about says it all. Wait a bit and look over the horizon and you'll see the squadron of B52s coming.
Posted by: Stuart | Aug 12, 2007 10:20:19 AM
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