TheAdvocates.org - Robert Prechter
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Interviews
Robert Prechter - Preparing to Survive and Conquer the Crash, by Jay Taylor, 14 May 2005
"... the Fed has to protect the value of Treasury bonds because T-bonds constitute its reserves and are the source of its power. ... if it began to print currency ... creditors holding over $30 trillion worth of ... debt would know it, and they would sell. And that would make the dollar value of the credit supply contract, maybe even crash."
"... the Fed has to protect the value of Treasury bonds because T-bonds constitute its reserves and are the source of its power. ... if it began to print currency ... creditors holding over $30 trillion worth of ... debt would know it, and they would sell. And that would make the dollar value of the credit supply contract, maybe even crash."