It seems that the monetary powers of the United States have decided that it is time for a new currency. Why do they even bother posturing, at this stage?
"The Federal Reserve could debate extending its bond-buying program beyond June if U.S. economic data prove weaker than policymakers expect, Kansas City Fed President Thomas Hoenig said"
Q : Why did the FOMC board member cross the road?
A : Because he couldn't fit more quantative easing on the side he was standing.
It's like its the freaking twilight zone.
What were all his opposition votes about then? Hoenig's float of QE3 idea is downright scary considering how much he was against QE2. The only thing that might make sense on a consistency is that Hoenig is trying to trigger the QE3 market reaction to prove how bad it is. But the argument that economic readings might drive the rational for more easing is just completely wrong.
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