The largest banana republic on the planet, the USA, is run by none other than Zimbabwe-Ben - or Ben Bermonkey, if you like. The debt monetizing madman has just released the next round of POMO and he has upped the ante a bit. The most recent POMO schedule monetized $97 billion and this next round will monetize $102,000,000,000.00 of the Treasury’s IOUs.
There will be no POMO Friday at the same time that the European banking crisis and Mid East turmoil grows. Violence is growing in Greece and Spain’s sovereign debt was cut Thursday. In Saudi Arabia, a small protest before Friday’s major protest was met with trigger-happy police: some protestors were reported to be gunned down.
Friday may be quite volatile.
Friday may be quite volatile.
Trade Date: 3/10/11
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