As another financial crisis comes to a head, another silver crash ensues. Oh, the tears of sorrow!
Background:
Though there still exists economists, portfolio strategists and corporate CEOs out there who still don't see or admit to seeing a double-dip coming to America [did you watch CNBC yesterday?], everyone's favorite sleaze, George Soros, on Sept. 21, told—that very same 24-hour propaganda doubly-sleaze outfit—CNBC, that the US is in “a double dip already.”
Sometimes, Soros, too, tells the truth, as long as it alines well with his fascist global-community agenda.
But if you've been listening to John Williams of shadowstats.com, you'd already know the fake recovery was just that, fake, and that the worse days for the US are yet to come.
“As activity begins to turn down again, you are going to see things get even worse, and the continued economic trouble is going to be very long and very deep,” Williams told KWN on July 11. “That puts the Fed in a circumstance where you virtually are assured of a quantitative easing three. That in turn will weaken the US dollar further.”
But as we all know, Bernanke, instead of giving the market what it perceived it needed on Wednesday, crushed the dollar slide, instead. No QE3! Not today, anyway. But Williams will most assuredly be proved correct after the fight from Republicans on Capitol Hill turns Captain Queeg 'yellow stain' as it did during Speaker Newt Gingrich's 1995 noble fight to turn the money spigots off by shutting down the Treasury-Fed cabal.
At some point, the mob will beg for QE3! Ask Gingrich, who went from Time's Man of the Year to the bum who authored the 'Contract ON America” —which leads us to today's Fed puzzle.
“The markets apparently were hoping for a large, magic pill for an anemic economy that feels like it's catching the flu,” Barton Biggs told Bloomberg News. He's now been quoted by the Washington Post as saying we may be “on the eve” of a financial crisis. (more)
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