At last, somebody spells it out for us. A testy (which I like - the man is clearly genuine in his desire to communicate) article on how the Federal Reserve influences interest rates, and the important distinction between permanent and temporary cash injections. Karl Denninger ("Genesis" of Market Ticker) reads between the lines and suspects a bank has been caught short in the bad-loan imbroglio.
He also directs us to a useful blog ("The Slosh Report") on Fed Reserve liquidity operations, and the Fed's own funds site, which you can find here.
Denninger is rightly outraged at the cynical abuses of the financial system, and quite emphatic that US real estate will have to devalue by 30% - 50%. He has set up a petition, sadly limited by its nature to US citizens.
And a video, though I find the use of nuclear explosion imagery counter-productive (I've momentarily forgotten the psychological term for this, but it's a "never happen, Cap'n" response to terrible imaginings).
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