What would Harry say?

[gonetowindsurf]

What would Harry Browne say about the Federal Reserve buying Treasuries?
Would he still recommend them as part of his strategy?
It appears to me that the Fed has greatly interfered with the free market system by purchasing more than 70% of supply. 
I realize that with Browne's strategy, at least one component is out of favor, but did every consider out-right manipulation?

[AdamA]

What would Harry Browne say about the Federal Reserve buying Treasuries?
Would he still recommend them as part of his strategy?

I'm 99.9% sure he would. 

This is nothing new, and with all the press that QE is getting, it's becoming something "everyone knows."  Long term U.S. treasuries are my favorite part of the PP right now. 

Don't overestimate the Feds ability to manipulate the bond market, which, in my opinion, is very efficiently priced. 

Besides, what would you replace them with?

[dualstow]

Agree with Adam.

[craigr]

Please remember that the Fed buying/selling treasuries is how they control the amount of money floating around in the markets and influence interest rates. What they are doing has been going on for a very long time.

[HB Reader]

I think HB would say the PP strategy should work as long as we live in a world of fiat currencies, the supplies of which are determined solely by the judgment of central bankers.  In other words, the international monetary system that has existed since the Bretton Woods system collapsed in the early 1970's.