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Bailing Out the Bailer-Outer

Today the US treasury announced they are bailing out the federal reserve bank. They are concerned that the federal reserve bank – after taking over the debt of Bear Stearns, Fannie, Freddie, AIG et al. is “over-leveraged”.  The obvious question is, who will bail out the Treasury?  The answer is paper.  More specifically the “Bureau of Engraving and Printing”.  We are so long the Bureau of Engraving and Printing as we see it as the only financial institution in the country that will always “find” enough liquidity to fund itself.  If you’d like to get long them we recommend you check out www.moneyfactory.gov.  Yes that’s the real name of their government website.  Money doesn’t grow on trees, but you can cut the trees down send them to a money factory and presto pronto prego DINERO!

Recommendation: In any mania, don’t invest in the company that mines the “gold”, buy the company that supplies the “shovels” and “picks”.

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