To: Toddsterpatriot
Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i) participate consistently in open market operations to carry out U.S. monetary policy pursuant to the direction of the Federal Open Market Committee (FOMC); and (ii) provide the New York Fed's trading desk with market information and analysis helpful in the formulation and implementation of monetary policy. Primary dealers are also required to participate in all auctions of U.S. government debt and to make reasonable markets for the New York Fed when it transacts on behalf of its foreign official account-holders.Toddster, that is so much financial gobbledygook. I don't care a whit about regulations and requirements. I care about the economic theory that a government central bank that continually expands the money supply is damaging the economy.
I get it that you're a great admirer of the Federal Reserve. I just can't see why.
28 posted on
02/03/2014 4:10:06 PM PST by
BfloGuy
( Even the opponents of Socialism are dominated by socialist ideas.)
To: BfloGuy
Toddster, that is so much financial gobbledygook.It answered your question.
So how does that benefit the banking sector?
I care about the economic theory that a government central bank that continually expands the money supply is damaging the economy.
What economic theory is that?
29 posted on
02/03/2014 5:44:34 PM PST by
Toddsterpatriot
(Science is hard. Harder if you're stupid.)
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