...there’s no turning back. There’s no graceful way out. There’s no backing away from QE or repo madness...Quite frankly, this ‘going forward’ scenario is unworkable...
The reversal in metals and miners continues. It may go on for some time yet. There is no change to the possible targets provided last week except to add that we could see a double bottom in both Gold and Silver at 1466 and 16.50 respectively.
Like the many other similarly foolish western nations, China seeks only one path out of this fiscal death spiral, one that will likely spell doom and/or revolution in many countries soon: More debt.
"If consumer demand was really that strong the Fed would not be cutting interest rates three times and then re-extending its balance sheet at a rate that even exceeds what they were doing with QE3."
"QE conspiracists can say this is all about balance sheet growth. Someone explain how swapping one short term risk free instrument (reserves) for another short term risk free instrument (t-bills) leads to equity repricing. I don’t see it."
