The Phaserl


Currency Wars

by Bill Holter, Miles Franklin:

Over the years the worlds’ central banks have operated in lockstep and with a unified front. Friday, the Richmond Fed put out a paper highly critical of the European central bank for not “easing” enough. This is curious because first off the Richmond Fed surely did not go “rogue” on their own and put this paper out without permission. So this was an “official” slap in Europe’s face. Secondly, this was highly public and highly critical. This looks to me like something has gone bad behind the scenes (which we are not privy to yet) and the fingers are starting to point.

What cracks me up is that the Fed is screaming PRINT at the top of their lungs. Can you imagine what they were to have done before 2008? “Printing” now is just “normal” and no one even thinks twice about it. Has it worked? The only question in my mind is how long it will be before sanity shows up uninvited and ruins the party. One thing that I really don’t understand is why do this publicly? If you want the ECB to get with the program and print to reflate, why not do it through back channels and privately? This in my view brings “questions” into play that I am sure the Fed does not want asked pertaining to inflation and intentional debasement.

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