Wednesday, February 8, 2012

By the Way, I did not originate this plan...

But guess who did?

"The Fed can inject money into the economy in still other ways. For example, the Fed has the authority to buy foreign government debt, as well as domestic government debt. Potentially, this class of assets offers huge scope for Fed operations, as the quantity of foreign assets eligible for purchase by the Fed is several times the stock of U.S. government debt."

-Ben S. Bernanke, circa 2002

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