Markets Entering Area 51

 August 19th Weekly Market Update

Area 51 has been steeped in mystery and a favorite subject of conspiracy theorists for decades. But CIA documents released late last week officially acknowledge its existence and suggest that its actual function was far less extraordinary or essential than believed by some. The declassified documents include a map of Area 51’s location in southern Nevada, but more importantly that it was merely a testing site for U-2 surveillance aircraft as part of the Cold War spy programs.

Like Area 51, QE3 — the latest round of quantitative easing, as the Federal Reserve’s (Fed) bond-buying program is known — has been surrounded by mystery (What is it actually doing? Is it working? When will it end?). Also like Area 51, the truth of how QE3 operates is less exciting than many believe.

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