Price Maintenance Operations
February 16th, 2005 by 
InLibrisLibertas
During Congressional testimony today, Alan Greenspan publicly confirmed that the Fed leans against stock market declines with easy money. Under questioning from Sen. Sarbanes, who asked why, if inflation is ‘contained’ as Greenspan had earlier affirmed, the Fed is raising the Funds rate time after time.
Greenspan replied that the Fed had intentionally slashed the Funds rate to an ‘excessively’ accommodative 1.00% in response to ‘deflationary’ forces such as the fall in the stock market and the economy during 2001.
So now we know that the statements about the Fed not targeting equity markets were a lie. Of course.
Posted in The Fed | 
February 18th, 2005 at 4:46 pm
Dude. I don’t know why you do this blog, but I’m glad you do. There’s no telling how many people read it regularly, and it’s probably not that many, actually, but I am one of them. You make me think, which is high praise from me, because I usually think all by myself, thank-you-very-much. Anyway, keep on, brother.
February 19th, 2005 at 4:24 am
Thanks.
I’m not sure why, either. I think partly so I have a contemporaneous record of the “Decline and Fall”. And partly in the (probably vain) hope that a few folks may see the immense fraud that is being perpetrated by the government.