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Gee, its almost like he's running for office...maybe Secretary of the Treasury?
Pro: He probably does not cheat on his taxes.
Con: His name might be a problem for Mr. Obama....but it would be fun to watch the Fox News rabble go beserk at the appointment...and the GOP Senators try to explain why Mr. El-Erian is not qualified, but Geitner somehow was.
how can Hussein 0bama have a problem with Mohamed El_Alarian?
the 1st 1 is a corrupt teleprompter puppet and the 2nd seems to be honest.
since there is no place for honesty (working for the general population) in government, El-Alarian is out.
Flight to *Quantity* Bitchez!
So-called expert "Sugar High" El-Erian missed one of the greatest stock market rallies in world history.
GMCR, COH, BBBY, WYNN and many others making lifetime highs today.
After such a horrid prediction, why would anybody listen to this guy now?
El-E sold the New Normal theory of woe, while the markets took off!
“Because of a growing fear that the issuers of the major currencies – including the US, as the issuer of the world’s reserve currency – risk de facto debasing gradually their currencies. So some central banks are incrementally and gradually diversifying away from the dollar through purchases of gold.”
QE2 turned the Fed into a portfolio manager
Expect higher imported inflation due to dollar debasement and as emerging economies do not want or need the liquidity the paper the Fed is exporting
The accumulation of gold by central bank shows that the central bank oligarchy is being tested. The increasing lack of trust stems from devaluing currencies, massively overleveraged balance sheets, and large debt levels.
Banks stopped trusting each other during they 2008 crises, spiking interbank interest rates. This is the same trend happening at the sovereign level and likely to end in a crises of confidence between governments and their paper, resulting in currency crashes.
The pollution of central bank balance sheets is an untold story and it’s worth pondering what would happen should central banks become insolvent themselves (likely massive money printing).
There will come a point where central banks will need positive real interest rates to stem a crises of confidence, and this will be the dagger in the price of gold. This appears far off and will likely require a series of currency crashes first.
Well check where you stand in the Pyramid of Capital System. This poster hangs in the office of a prominent Nobel Prize winer in economics. How true this is.
Dow is up over 900 points since June 23rd....???
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