This shows either group insanity, as, repeating the same action with the same undesired result over and over again, or deception, as, the real goal is not the stated goal, and the action is in fact accomplishing what it sets out to do.

“Something in the water at the Fed” I reject on grounds of general implausibility — though, of course, I could be wrong.

I think that the Fed is terrified, with or without justification, that our bond prices will drift up. A few more Republican budget/debt-ceiling stunts, a revival in Germany (now underway), and rolling over our mammoth debt could start to get more expensive — and then there is the fearsome spiral. I think the Fed is willing to take money, and lots of it, from taxpayers and consumers, and give it to Jamie Dimon, to eliminate even the hint of a beginning of that process.

But I would be interested to hear alternative explanations.

Rules should be when ever a nation’s difference between exports and imports exceed let day 5%, it has to tax the exceeding half of the economy (exporting activites or non-exporting) and give it to the other half, at a rate the new WTO sets.

We’ve tripled the money supply over the last few years, and exported most of the inflation. If we lose reserve currency status, that inflation comes home. China is building up a massive gold reserve, which many speculate is to create currency to compete with the petrodollar. A currency with an intrinsic value and high availability could easily displace the dollar’s WRC status.

So, yeah, we should be worried.

So, should we be worried about the manipulations of a few rogue countries trying to survive such as the depressed United Kingdom and the declining Japanese? Zzzzzzzzz….