Thursday, November 17, 2011

Jim Grant: World Hangs by Threads; Fed Is Leveraged 100 to 1

Jim Grant on Bloomberg:

"... ECB has a ratio of non-AAA rated assets to equity of 14 to 1. What the ECB has been doing is stepping in where private money fears to tread. In the private sector we call that heading for trouble"

"The New York Fed is leveraged 100 to one"

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