The old expression, “In for a penny, in for a pound” is the government’s chosen path. Once involved in direct market interference and manipulation there’s no turning back. Let’s remember Bernanke studied the Depression and published his views on how that condition can be prevented in the future. Don’t expect him not to put his theories to the test in real time with our money. All us peons can do is stand back and see if it all works. That said they’re engaged in the following: · Buying commercial paper directly to unlock the freeze and ease credit. · Increasing TAF [Treasury Auction Facility] to $900 billion with more to come. · Coordinated global rate cuts. · Rates to Fed primary dealers already featuring a stealth rate cut of 50 BPS via auctions. · Naturally, the ongoing suspicion that authorities will ...