Here Is Why The Dollar Is Now Effectively Worthless (A picture is worth a thousand)

Posted by admin
November 23, 2009

A picture is worth a thousand Krugman essays, which is why we present a chart comparing the US Monetary Base (and by subtracting Reserve Balances with Fed Reserve Banks, Currency in Circulation), and the Fed’s holdings of MBS and Agency paper (worthless GSE/FHA garbage). In summary: Currency in Circulation: $920 billion; MBS/Agency Holdings: $997 billion. The dollar in your pocket is now entirely backed only by worthless, rapidly devaluing and subsidized housing.

Read the whole story at ZeroHedge

Economy, Expose, Facts

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