Hi Stateside!

What the FED says they will do, and what they actually do, are two completely different things. Take for example that tragic clown Bernanke testifying before Congress last month that the FED is NOT monetizing debt. Oh yeah? Then just who the hell backstopped the last treasury auction?

There is no way the FED will end printing money, whether they jawbone to the contrary or not. It is not a matter of trying to muddle through the credit crisis anymore, its basically down to the last option for the US to continue funding ridiculous spending commitments. And there is no end in sight. Since the tax revenues are plummeting and demands to continue bailing out institutions and entire states are rising, there is no other way for the government to come up with the funds than to just click the mouse and print off more money.

The entire economy these days seems to come down to wishfull thinking, and spin. You can lie and bullshit your way through for a while, but the truth is going to come out soon enough.

cheers!

mike