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sam_site
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The Leviathan

- James Howard Kunstler -

As you say, "Fed now finds itself in a trap of its own making" and may now have a problem "getting through the holiday season without a financial accident" because as Peter Schiff says when investors figure out the Fed won't and in fact can't raise interest rates, it will finally stampede to gold's safe haven.

Because of this new jobs report bolstering the economy and signaling that we're finally healthy enough for a rate hike, it's now finally time to sh*t or get off the pot. And when the Fed gets off the pot there's going to be a huge market let down and a flight to safety in the panic as Peter suggests. And between both no income producing safe-havens - gold is going to look far safer than paper Treasury Bonds.

If it does raise rates .25% just to maintain credibility, it will cause massive Wall St interest rate derivative losses because these insurance policies covering rate hikes are fake and only 10% of these policies have any backing or money in the bank to pay losses and that's with an over-valued Treasury Bond. That's a cluster time bomb ready to detonate just like AIGs mortgage derivatives that imploded in 2008.

Commented 3082 days ago

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Beginning of the headline :T he economic picture manufactured by the national consensus trance has never been more out of touch with reality in my lifetime. And so the questions as to what anyone might do can hardly be addressed. How can I protect my savings? Who do I vote for? How do I think about where my country is going? Incoherence reigns, especially in the circles ruled by those who guard the status quo, which includes the failing legacy news media. The Federal Reserve has morphed from being a faceless background in... Read More

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