This should have been the crucial debate almost two decades ago. I would say it is the monumental debate of our times – except for the fact that there’s no debate.
Sound Money is precious – to be coveted and safeguarded. As a stable and liquid store of value, Money is the bedrock of Capitalism, social cohesion and stable democracy.
Kissinger: “Now, we live an epochal period. The historic challenge for leaders is to manage the crisis while building the future. Failure could set the world on fire.”
I have to adjust my message for today’s post-Bubble backdrop: I understand we can’t allow the system to collapse, but Please Don’t Completely Destroy the Soundness of Central Bank Credit and Government Debt. Does anyone realize what’s at stake?
We recommended existing equities on 26 January & told the last holdouts to move from the TSP F fund (bond funds) to the TSP G fund (or the safest funds) by 9 March which happened to be a top for the bond funds.
What did your adviser tell you?
And if there is any confusion about the title. It does not represent people lining up at their banks. It represents wall street banks, hedge funds, and corporations lining up at the Federal Reserve’s Emergency Lending Window looking for handouts to pay their bills and bonuses. We the people should be so lucky.
Last week JP Morgan announced they were borrowing from the Federal Reserve’s Emergency Lending Window to “break the stigma”. Here we go again.
The entire world inflated into the proverbial Bubble in Search of a Pin. At the epicenter of the global Bubble, trouble in China has been headlining my list of potential catalysts. The coronavirus outbreak poses a clear and present danger of pushing China into a dangerous predicament.
TSP & Vanguard Smart Investor’s guest writer Doug Noland writes on Issues for 2020
… was the Great Depression chiefly the consequence of post-crash policy mistakes, as conventional thinking has come to profess? Or did the previous “Roaring Twenties” Bubble sow the seeds of a major down-cycle and collapse?