So these things keep happening; but here is the problem, Chris: the Fed
has printed almost four trillion dollars to put out the fire from 2008.
What is going to happen if we have a liquidity crisis next month or next
year? They are at the limit of their balance sheet. They are already
insolvent on a mark-to-market basis. And again, that is not guesswork. I
actually was told that by a member of the Federal Open Market
Committee. They are leveraged 80-to-1. They cannot do more. They cannot
print another four or eight trillion. They are at the limit of
confidence. They are not at the legal limit, by the way. Legally they
can do it but they are at the limit of what people will really trust, or
before the Congress would intervene.