The US is on the verge of becoming 'the world's largest exporter of plastic decorative bananas' to clip a phrase from this morning's email update to subscribers.Well, Larry Summers certainly did his part to get a lot of people fretting that possibility right now after just weeks ago sooth-saying the masses into the toxic dump of broken promises known as long term US Treasuries. Those who bought the deflation impulse with these instruments stand right in the cross hairs of the inflate-or-die mandate coming out of government.
But I suppose Larry had more important people (or sovereign creditors) to look out for than the average schmuck just trying to survive the results of the government's moral hazard disguised as policy, now decades along.
NFTRH's primary holdings are well into launch mode and I am distributing some slowly, but you will not find boasting here and you will not find me trying to capitalize on the excitement by touting (well, maybe just a little). Instead, we will remain focused on the mechanics of what is going on with the idea that Jim Sinclair's 'this is it, it is now' is in play.
I don't think this is it and I don't think it is now as far as hyperinflation goes. But you know, these crooks really do need a deflation-like event, and they need it soon. Otherwise, we may be looking at the final bubble and dat bubble be da precious metals. We are in the target zone on Huey and we will watch the long term downtrend on the 30 year's yield. We will watch the dollar. We will watch da experts and we will have the most fun imaginable playing the swings in these pathetic times of agony and official moral hazard.
