The Fed's Latest Cockamamie Idea

I didnâ??t want to let the latest cockamamie Fed idea for â??sterilizedâ? bond buying pass without a comment. A Wall Street Journal story explained that somehow the Fed will buy more long-term bonds, print new money, and then borrow the money back so it doesnâ??t cause inflation. Itâ??s all a lot of hooey. Typical Fed tinkering. They canâ??t seem to help themselves. The dollar has already fallen about 1 percent since this story broke. Gold has jumped.