My Dear Friends,
Today’s statement by the Federal Reserve may be the lowest of the low for anyone who understands the mechanics of what they are speaking about. You cannot drive a car nor run an economy with one foot on the brake and one foot on the gas.
The claim that QE can be controlled by equal stimulation and draining adds up to nothing whatsoever. The idea that the Fed could so perfectly orchestrate pulling and pushing is denied by the fact of where we are right now.
The Western economic world is a leaderless sinking ship that is bouncing from one crisis to the other, attempting to save itself by MOPE, obscuration and downright fabrication. There is no way this type of double talk is going to accomplish anything other than scaring the hell out of those who understand.
It may be time to start bailing out as Harry Schultz has told me repeatedly for 40 years. We can slip no lower than the central bank treating us like ignorant children when they know damn well QE is going to infinity in the entire Western world.
Only gold can protect you from this sinking ship without hope of rescue as there is no captain at the helm. Further to this the well meaning splinter parties are a guarantee that no rational candidate can be proffered to oppose present management; therefore the same people running the USA today will run it tomorrow with a total change of leadership in Euroland.
I am horrified by today’s total distortion of fact of how the monetary mechanism works by the Federal Reserve. We will win the war by jamming the accelerator to the floor and jumping on the brakes simultaneously, therefore stimulating the dead cat bouncing economies of the Western world to prosperity and avoid sovereign debt failure.
My god that is nonsense.
Respectfully,
Jim
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