In a sure sign that the times have changed, the scam of "Exchanges For Physical" that The Bullion Banks have utilized for several years as a risk-free profit method appears to have finally collapsed.
Public and private pension plans face a dual crisis. The first and most obvious threat to pensioners is that defined-benefit vehicles are severely underfunded. By one estimate, pension systems taken as a whole are $638 billion in the red.
The most hated stock market rally in the world just keeps on going higher. Will anything stop it? Or do we now take our cue from Irving Fisher whose quote is above? Or is our cue from economists Carmen M. Reinhart & Kenneth S. Rogoff who wrote a book entitled, This Time is Different – Eight Centuries of Financial Folly? We can’t take our eyes off it.
The bottom line is that “letting inflation run above the 2% target rate” is code for: “we have to print a helluva lot more money to keep the stock market and the big banks from collapsing.”
At some point, Americans are going to have to wake up. With the Fed funds rate set at 0.25, Americans can no longer earn any interest with their money in the bank.
The main premise which is universally accepted is that the Fed can simply “print” money and push it into the stock market to cause the market to rally. In this way, the Fed has supposedly supported the market and has caused this rally we have been seeing for many years.
