The Shadow Banking System Is the Source of New Credit and New Dollars Around the World

Greenspan bought the 13% debt after interest rates have come down to six, seven percent on the long end of the yield and bought it all back at par. The treasury under Yellen and Bernanke and Geithner has clearly always worked in order to pump up the offshore dollar markets by keeping money cheap so that they can have then have all the credit in the world to do whatever shenanigans they want. And basically, the shadow banking system is the source of new credit and new dollars around the world, not the Federal Reserve, not the US commercial banking system.