No. It's confidence in the currency that cannot remanufactured with policy statements.

Please document in the last 30 years when the Federal Reserves "toolkit" has reversed the dollars decline in purchasing power. You can submit 1 example (not hard).

The truth is you cannot. It's just one on acronym after another (QE #1-#4, Operation Twits, PPP supported check dispersonal, Corpirate Debt Purchading Normalization, etc).

The destruction of the currency will occur with a 25% decline (its the 1 to 100 leverage in the currency futures markets that would create the choas).

We shall find out soon. I personally give the Federal Reserve 60 days before price discovery in the currency markets concludes the Russian ruble, or Chinese yuan will offer a better store of value than the US Dollar.

We fund our national debt with short term sovereign debt products such as T-Bills and Notes. You have investors worldwide who are watching the principle destruction occurring on the balance sheets of the banks.

They're not stupid. Why would they roll over that debt for another 6 months to a year? They won't (resulting in a no bid at the debt auctions).

This is the real dilemma the Treasury is staring down tonight.

We shall see.