Mold Action

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Whenever we get a decent selloff in the market, I brace myself for the next intervention – – because we all know that’s what’s coming. Although it doesn’t constitute any kind of announcement, word from the meeting of the Powers That Be over the weekend was:


So, let’s get this straight:

+ Q.E. isn’t even done yet; its cessation is still forthcoming this month;

+ The market was at the highest point in human history only a few weeks ago, and it has dropped a single-digit percentage point since then;

+ The world’s central banks have already printed up $12 trillion in funny money to artificially prop up equity markets for their rich buddies

And so they’re calling for………..bold action??? You’ll excuse me if I feel like retching.

I’ve said it before, and I’ll say it again – this time with the power of a boldface font – there will come a day that a big announcement is made, and the markets will actually wilt instead of rally. It is at that point you know it’s game-over for these clowns, and asset classes from A to Z are collectively headed for the toilet.