Sunday, July 22, 2012

Is anyone paying attention?

I was speaking with a client last week. She had no idea that the only institution currently buying US Treasury Bills is the US Federal Reserve Bank. When I mentioned this to her, she instantly understood the ramifications. After all, she is the CFO of a large institution. If someone like her, whose entire career is focused on sophisticated financial matters, is unaware that we are just printing money, then I don't suppose that normal people can be expected to know.

It's too bad, though. We are headed to a financial disaster, and no one seems to care.