by Bill Holter, Miles Franklin:
A couple of years back I wrote a piece similar to what I’m thinking right now. I couldn’t understand how people couldn’t see what was happening. Now, it is so obvious where we are headed yet it seems that the “disconnect” between those who can “see” and those who can’t (or refuse to) has grown. On the one hand you have the people who warned back in 2006-08 of the housing bubble, debt and banking meltdowns and financial train wreck. On the other hand you have the “blue skies” crowd. Now, just like the back then…someone is going to be wrong, VERY wrong.
Just over the last week, the BIS has issued 3 separate statements of warning. (They were in hindsight the only “official” agency to warn ahead of time back in 2007 of the coming crisis). They recently made a call for cracking down on the collateral chain in the shadow banking system and then over the weekend they said that “stimulus must stop” because it is not and has not worked. Imagine that? The central bank of central banks has said that the “savior” for all, “QE,” printing, monetizing or whatever else you’d like to call it…doesn’t work. They even went so far as to say that, “If a medicine doesn’t work it doesn’t necessarily mean that the dose wasn’t strong enough.” Maybe the wrong medicine?
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