The Socialist takeover of finance.

Jeffery Bronchick, CFA, writes in Seeking Alpha:

"The Federal Reserve is printing money to buy Treasuries, mortgages and agencies (over $500 billion at last count).
The FDIC is now guaranteeing almost $350 billion of bank debt (TLGP).
The Federal Reserve is the largest buyer of Commercial Paper (about $250 billion at last count).
The Treasury is now guaranteeing muni debt (“Build America” bonds).
The Federal Reserve is providing financing for the purchase of securitization and has committed as much as $1 trillion.
The Department of Education is the largest buyer of securitized student loans, more than the private sector.
Fannie (FNM) and Freddie (FRE) are buying over 60% of new securitized mortgages, more than the private sector.
• The Federal Reserve’s Term Auction Facility (TAF) has pumped $500 billion into the LIBOR market. The market has been so overwhelmed by “Federal Reserve money” that some say it is no longer the reference rate for new short-term loans.
49.9% of the capital raised by banks has come from various governments (including Sovereign Wealth Funds), 51.1% from the private sector.
Government spending for fiscal 2009 is projected to be 28% of GDP. Only 1944 and 1945 were higher in the last 150 years.

The Geezer adds: I am still waiting for someone other than me to document how the FED manipulates the dollar and gold prices.