It looks like in saving the banks from drowning, the Fed, the dollar, and the country are headed for Davy Jones' Locker.
From Michael Pento:
The truth is that without the ability to fully withdraw prior liquidity the Fed is incapable of significantly raising interest rates. After all, the Fed can't raise rates by fiat. It must sell assets to do so. Similarly, to support the dollar it must take money out of circulation, which is also accomplished by asset sales.
But the Fed's arsenal is no longer stocked with high grade weaponry.
As the rest makes plain, here, its stockpile is full of duds.
