Victor Sperandeo: The rules of the bond game
Dear Friend of GATA and Gold:
Writing at The Epoch Times, money manager and market analyst Victor Sperandeo argues that foreign selling of U.S. Treasury debt will never matter as long as U.S. commercial banks are able to purchase such debt by creating money from nothing and are paid interest to hold the debt.
In these circumstances, Sperandeo writes, the commercial banks can absorb all the debt the U.S. government can create and interest rates needn't rise.
Of course the creation of infinite money raises the possibility of currency depreciation and inflation showing up in price indexes. But maybe that's what gold price suppression and falsification of government economic data are for.
Sperandeo's analysis is headlined "The Rules of the Bond Game" and it's posted at The Epoch Times here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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