Excerpt from our latest Article "Jobs and Money":

It was uncovered this past weekend by a guy named Chris Mortenson that the past auction of $28 Billion in 7-year Treasuries had a twist to it... A large chunk was purchased by Primary Dealers to the tune of $10 Billion worth of the auction, and then, very quietly, without fanfare, and right under the noses of the currency traders and media that are supposed to be following up on this stuff... The Fed bought it all back from the Primary Dealers... That's Quantitative Easing folks, they monetized the debt, and with all the fanfare of being more transparent, they did it under the dark of night in a back alley...

Shame, Shame, Shame! Is this not a sad state of affairs, that not only did the Fed HAVE to monetize the debt, they did so in a way to manipulate the markets, and pull the wool over the eyes of the public! Would this have been a "failed auction" if the Fed hadn't worked out this deal with the Primary Dealers? I think so! And the Fed, dealt a blow to currency holders by pulling off this shell game! And the calls for the current administration to be transparent, along with the Fed... All comes back to haunt them...

So... I hope the major media picks this story up... I know for a fact that some of them read the Pfennig, and laugh at my claims of market manipulation... Let them all laugh, one day they will be crying... I shake my head in disgust... Oh, and for all you who think I'm trying to tell you something that isn't true... I've got facts, so don't even think about calling me out on this! OK... Enough of that! OH! I see that Paul Krugman thinks that Big Ben Bernanke should be approved for another term as Fed Chairman... If I were Big Ben, I don't know how I would take that...

Hmmm... I better think about that one! Of course, if I had any say in the matter, I would fire them all! Anyone that had anything to do with the bailouts, stimulus, brokering banks and broker deals, deciding who remains open and who closes their doors... Fire them all I say! I won't even go down the road regarding the politicians... Data this week will include the Trade Deficit, Productivity, Unit Labor Costs, Monthly Budget statement, which ought to be something to see... We'll also see Retail Sales, which you would think would be better, but given the Chain Store retailers report last week, Retail Sales would certainly be a question mark...