But I don't WANT him to buy up everything! Especially the things in my attic, or in my basement! That is not what a central bank is supposed to do! When a central bank (or any entity, for that matter) will refuse to let anything fail, then you endanger the solvency of that entire entity! Thinking in terms of the central bank of a country in the act of this and the currency gets ruined of that entity! It's simple folks. That is why equity analyst Peter Boockvar, with Miller Tabak said the above quote.
John Melloy is the Executive Producer of CNBC's Fast Money show that airs at the end of the trading day on this cable news channel. Boockvar's quote can be found here: Outraged Yet? What if Fed Buys Munis?
Dear reader - buy gold, buy gold, buy gold and buy gold!