The Fed Has Already Poured $900 Billion in the System!
By Chuck Butler
Regarding liquidity, a reader sent me a nice tally sheet of the liquidity "injections" that the Fed has made in the last two weeks. According to my reader’s tally, the total "injections" have been US$900 billion. (Some are done and some are announced.)
The reader was confused about this dollar strength... "all this liquidity and the dollar is still up, and commodities are still down...Go figure."
Martin McMahon, a Zurich-based currency strategist for Credit Suisse Group commented on the dollar's rally yesterday...
"We don't think that what we've seen over the last month is the beginning of a sustained dollar rally. There are still lots of problems for the dollar."
Couldn't have said it better myself!
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