On the heels of many global stock markets hitting new all-time highs, today a man who has been trading major markets for over four decades spoke with King World News about the greatest single danger facing the financial world today. Below is what James Turk had to say in this tremendous and timely interview.
Eric King: “Art Cashin was writing (on KWN) about the danger of the Fed losing credibility, and there’s really no way to print your way out of that.”
Turk: “Yes, I agree with that. Not only is the Fed losing credibility, but their balance sheet is making the Fed look increasingly insolvent. Remember, the Federal Reserve got rid of all of its short-term government paper. All it owns now is long-term paper….
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