Here is a thoughtful essay by Dr. Paul Craig Roberts about irregularities in the bond market:
That the Fed believed that it could not buy the bonds outright but needed to disguise its purchase by laundering it through Belgium suggests that the Fed is concerned that the world is losing confidence in the dollar.
If the world loses confidence in the dollar, the cost of living in the US would rise sharply as the dollar drops in value. Economic hardship and poverty would worsen. Political instability would rise.
If the dollar lost substantial value, the dollar would lose its reserve currency status. Washington would not be able to issue new debt or new dollars in order to pay its bills.
Its wars and hundreds of overseas military bases could not be financed.
The withdrawal from unsustainable empire would begin. The rest of the world would see this as the silver lining in the collapse of the international monetary system brought on by the hubris and arrogance of Washington.
http://www.paulcraigroberts.org/2014/05/12/fed-great-deceiver-paul-craig-roberts/
The Federal (sic) Reserve System may soon lose its ability to continue this juggling act. When it does, stand by for a foul wind:
http://youtu.be/ViOxWqNSRUg
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