Where Did the Money Go?
(shred credit, The Lazy Paperboy, who thinks he is clever)
I've been saying this for nearly three years now, even before I realized that the money truly did vanish. The funniest part? Bernanke and Co. still don't seem to get that part and THEY went to skool for this.
I love you, Mogambo Guru:
“Hey! Screw you, you crooked bastard bankers that caused all this economic mess by creating So Damned Much Money (SDMM) over the decades that it produced bubbles in the stock market, the bond market, the housing market, a gigantic financial services industry, an enormous derivatives market and a monstrous, suffocating increase in the size and oppressiveness of local, state and federal governments!
“Now it’s my turn to screw you in a fit of Unthinking Mogambo Revenge (UMR)! I ain’t paying you back the money I borrowed! Thus, your fiat money literally disappears! This is why, if you will remember, I said ‘screw you!’ at the beginning of my harangue! Hahahaha!”
Please read The Well-Traveled Funds of Fed Money Creation via Daily Reckoning in full. Or not, I really don't give a shit, it's your life.
For the bazillionth time: it's GONE. It never existed. It is never coming back. And worse, they can't seem to make it reappear, even magically, long enough to convince us it still exists. Oh dear, no wonder we're so thoroughly fucked.