Whatever was the real reason for the Fed to initiate another round of quantitative easing (QE), the end result is fairly clear: the Fed is wittingly or unwittingly in the process of creating new bubbles - in equity and commodity markets.
What we had feared would transpire from spring 2011 until around mid-2012 may now be starting to play out. One of our friends eloquently described QE as nothing more than another great government Ponzi scheme with a fancy name…
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More on commodities:
Legendary investor Mark Mobius: Buy commodities... and buy 'em big
Commodity prices are about to explode as power shifts from West to East
Stunning chart shows the "real" rate of inflation
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