by Greg Hunter, USA Watchdog:

Financial writer and precious metals broker Bill Holter says the latest .5% rate cut by the Fed shows something is very wrong with the economy.  There were some big reported problems a few months ago with the yen carry trade blowing up and 63 banks hiding $500 billion in losses.  Now, billionaire investor Warren Buffett is selling off millions of shares in BofA stock, inflation has surged, along with business bankruptcies in America, and total household debt and federal debt has hit new all-time highs.  This is just scratching the surface of the financial problems that are already here.  The world is wrestling with unpayable debt everywhere.  So, why the big rate cut now when the Fed says the economy is going great? Holter says, “I think there is absolute desperation.  They look at the poll numbers, and they realize they are not going to be able to cheat enough to win.  They certainly know behind the scenes that the entire system, including the Federal Reserve and including the Treasury, is all insolvent.  So, yeah, there is absolute desperation.  I was saying 10 years ago they would ultimately kick the table over because that’s the way to cover their tracks.  They don’t want fingers pointed at them.  So, what do you do?  You nuke a city.  Oh, then they can’t have an election, and their tracks get covered. . . .My odds for not having an election in November are now 65% to 70% we don’t have an election.”