Copper $ 5.553 / lb 0.51%
Brent Crude Oil $ 68.64 / bbl -0.67%
Palladium $ 1236.5 / ozt -0.08%
Crude Oil $ 66.31 / bbl -0.82%
Natural Gas $ 3.432 / Btu -0.44%
Silver Futures $ 38.62 / ozt 0.57%
Aluminum Futures $ 2488.25 / ton -0.03%
Micro Gold Futures $ 3368.7 / ozt 0.47%
Micro Silver Futures $ 38.62 / ozt 0.47%
Platinum $ 1418.4 / ozt 0.08%
Gold Futures $ 3368.6 / ozt 0.50%
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Buying $600 Billion in Debt with Debt

James West - MidasLetter.com | November 05, 2010 | 9:14 am

Here is the glaring hole in the United States Federal Reserve's approach to what it calls stimulus, and what history will one day categorize as fraud: You can't use your own debt to purchase more debt when you can't repay...