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Asset Protection: Protect your money as the Fed destroys the dollar

Posted March 24, 2008

“When it became clear that Countrywide’s aggressive lending policies had left it with more junk debt on its books than it could dump on careless institutional buyers, shares of Countrywide fell faster than you can say ‘no-down-payment, stated-income, negative-amortization, adjustable-rate mortgage.’ Shares of the Fed are suffering the same fate. Its shares, of course, are the U.S. dollar.” — Erika Nolan

by Erika Nolan, The Sovereign Society

Baltimore – (TFN): It wasn’t front page news. But, often, the most telltale events are hidden in the back pages.

The Fed announced last week that it was going to extend loans to securities firms at the same rates that commercial banks get. Now, technically, securities firms aren’t the same quality of borrower. They’re not regulated in the same way as the commercial banks are. Not vetted in the same way. That’s why the Fed’s own Guidelines from 2002 say it should charge non-banks more than the highest rate that commercial banks pay. And yet, these less qualified borrowers are now going to get the lowest rates.

Does that ring a bell?

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Asset Protection: The Fed is the new Countrywide

When banks like Countrywide gave $300,000 low, introductory-rate loans to John Doe (and even John No-Doe) despite the fact John only made $30,000 (and couldn’t even document that)…weren’t they practicing financing techniques similar to the Fed’s new policy?

And when it became clear that Countrywide’s aggressive lending policies had left it with more junk debt on its books than it could dump on careless institutional buyers, shares of Countrywide fell faster than you can say “no-down-payment, stated-income, negative-amortization, adjustable-rate mortgage.”

Shares of the Fed are suffering the same fate. Its shares, of course, are U.S. dollars. Read on to learn how to protect your money, even as the Fed destroys the dollar.

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