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The AIG situation is a news cycle smokescreen, and it's working.
The Fed just announced it's buying $300 billion in treasuries. Essentially the government is now buying it's own notes.
This means that the inflation gas pedal just got depressed. The $$USD is now falling against the Euro. The DOW plunged 100 points on the news but it looks like the plunge protection team is buying to stabilze the market.
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Tropic Cat
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Last edited by TropicCat; 03-18-2009 at 03:52 PM.
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