[FoRK] Dose of Reality: Celente says subtle revolution ongoing in the U.S.

Bill Stoddard wgstoddard at gmail.com
Mon Sep 21 14:30:00 PDT 2009


Benjamin Black wrote:
> Stephen Williams wrote:
>   
>> I don't agree that we're about to explode in general.  That jobs haven't
>> come booming back is perfectly understandable after recent uncertainty.
>>     
>
> we are now funding the 'recovery' on pure, public debt, unfiltered by
> IPOs, cheap mortgages, or exotic derivatives.  we're not even getting
> anything durable for it (roads, bridges, good folk songs, etc).
>
> http://www.zerohedge.com/sites/default/files/images/SPX%20Monetization%20Corr.jpg
>
> this aggression will not stand, man.
>   
Jeff,
Can you explain that chart for me (us?)?

What does "Securities held outright by the Fed" mean exactly?   Are 
these bank securities and if so, why is it reasonable to correlate the 
general market rise with bank stocks held by the Fed?  This is, with no 
doubt, a scary looking graph but what does it really represent?


Bill



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