Bond Burning Jubilee

[peristaltor]

(I'll try to make this money-ish post brief. As Twain noted of the Bible, fiscal policy is like chloroform in print form. This should, however, show that knowing the actual monetary creation process can take the sting out of what you are about to read.)

Steve Roth at The Angry Bear notes a growing trend among monetary policy wonks: maybe, just

Comments

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The fed burning the bonds it holds, and doing so regularly will do one more thing. It will do away with the periodic "debt ceiling" drama and the "hyper-emoting" that goes along with it!