We Live in a Twisted Financial Reality
I shall keep what I have to say brief today.
The majority of the consensus of U.S. economists are expecting some form of QE action to be announced by the private bank known as the Federal Reserve, owned by its member banks.
The biggest takeaway from QE and whatever the Fed does end up doing today is that we are in a sick era of governments buying their own bonds, yet few care. On this trajectory of QE to infinity eventually the financial system will hit a brick wall. There imho is no other fix to the excess of unlimited money printing but an eventual hard reset. While I find that paper money is useful to purchase all sorts of things from basic living needs to non discretionary fun stuff; in the back of my mind, I and I hope you, realize that our money is pretend money and that prepatations should made when the extend and pretend stops (eg. owning various hard assets including gold and silver, some food storage, etc) . Things (to be colloquial) have gone way past a point of no return and to levels that can’t be paid back in a reasonable span of time. But. so long as everyone keeps pretending on a global basis, the dollar based financial system bumbles along. But I am not looking forward to the eventual day when the pretending stops. The Bernanke games shall continue.
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Author Jim Kingsland
Market commentator with focus on Gold and Silver after long broadcast career at FNN, Bloomberg, and Fox. #RandomHouse published author on PMs. Jim has also been involved in projects for CAC and Coinplex.