But in an unusual move, AAA-rated mortgage securities issued by banks will also be accepted. Many investors have shied away from these mortgage-backed securities because they fear defaults in the underlying assets will erode the value.

The effort, which is being done in conjunction with other central banks in Canada and Europe, is designed to promote trading in these markets that have frozen up, experts said. The measure allows banks to temporarily get these illiquid securities off their books.

"They are providing liquidity to keep the deterioration of that market from bringing down the broader economy," said Ian Lyngen, interest rate strategist with RBS Greenwich Capital.

non-economist guess here: presumably they will transfer as much of this illiquid shit to the public as they can before the election, then raise interest rates after the election to save the dollar, and thus lock in the market "winnings" over the past few decades for the wealthy. Goodbye roads, schools, and firefighters. It will have to get that bad to get the public angry enough to demand their share back, though.

you are the media you consume.