We are further along than I feared -- Operation Phoenix

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Subject: We are further along than I feared

Author:
Allen Currie

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Date Posted: 18:04:40 04/05/12 Thu

First the below re Athens suicide. In and of itself internationally, this is not significant. More it is like the canary in a mine. So many don't understand the magnitude of the suffering Greeks are going through, nor what a financial failure will mean to themselves perrsonally.

Then we come to something that maskes my hair stand on end with its magnitude. The US treasury auctions are failing massively and consistantly

The Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday

http://www.moneynews.com/Headline/fe...mo_code=E92C-1

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