Monday, November 17, 2008

Fed's newest lending facility: ABCPMMMFLF

From Bloomberg, the Federal Reserve launched the ABCPMMMFLF. That stands for Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. It could buy up to $1.8 trillion dollars of short-term debt. This just boggles the mind. As I said in a previous post, the Fed is getting desperate and will do anything to prevent deflation. It looks more and more to me that they will destroy the nation's currency in the process. 

No comments: