This type of sophisticated speculation makes it seem that the actions of the Fed are all open and above board. How many investors still believe that? Only those that are so blind that they don't want to see.

The specifics have all been laid out in various articles explaining how U.S. Treasury bonds are being purchased in massive quantities using a Domestic category and by the U.K. Without these props, it seems clear that bond offerings would have failed, bringing down the whole house of cards. I am not a student of these matters but the evidence appears overwhelming. I would like to see it rebutted, if that is possible.

O.F.