Monday, September 15, 2008

The Fed has been adding unusally-large amounts of cash to the system for the last couple of days. On 9/11 it added $31.5 billion which is ten times the normal amount. Today, during the Lehman bankruptcy announcement, it added $20 billion. These are the same levels that we saw during the terrorist attacks seven years ago.

This time it's just a different form of terror.

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