Re: Kelso's Fed proposal and Inflation

[Keith Wilde <kwilde@magi.com>]

At the end of his comments to David S., Charles said this:

>Actually, this is not a new idea.  It is something called the "real bills"
>doctrine, and was once followed by the FED in its infancy.  Should the Fed
>readopt this policy it would make no difference.  It would simply be a
>rearrangement of assets.
>

Could you please embellish this a little. Do you mean that if re-adopted it
would make no difference to the FED (just a re-arrangement of its assets),
or that it would make no difference to the ownership strategies under
consideration?

Thanks in advance.

Keith


Keith Wilde
Canada Pension Plan
Ottawa
kwilde@magi.com
613 990-8125 (office)
613 747-6847 (res)