So now they don't even try to obfuscate the fact that they just make up money from thin air. Print what you like! It's just paper! And its not just in the US.

Maybe the stock market is climbing because of anticipated inflation, not because of real value. People don't know where to put the money to keep it safe (not in 4% treasuries!).

I'm hanging onto my gold and commodity shares....

Eventually, to save any confidence in money, they will HAVE to retie it to something of intrinsic value.

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NEWS ALERT
from The Wall Street Journal


Dec. 12, 2007

The Federal Reserve joined with other major central banks to announce new measures designed to inject added cash into global money markets. The Fed plans to create a new "term auction facility" under which it would lend at least $40 billion and potentially far more, in four separate actions starting this week. The loans would be at rates far below those charged on direct loans from the Fed to banks from its "discount window." The European Central Bank, Bank of England, Bank of Canada and Swiss National Bank simultaneously announced parallel measures. U.S. stock futures surged on the news.