From the Summit of the Moral High Ground

Originally published: 2 December 2011 Original author: Dr. Jim Willie ("The Golden Jackass") Navigation: Part 1 | Part 2 | Part 3 | Part 4 Editor's Note This Archive Edition preserves the original article while improving readability through editorial headings, paragraph spacing and navigation. The author's views and arguments have been preserved. Final Images with Messages Historical Image Notice: The original publication included several images accompanying this section. Where reliable archived copies become available, they should be restored in future editions. Drowning in liquidity, the masters of the American chapter of the Fascist Business Model have created a black hole in the form of a gigantic sinkhole. These images were used by the author as a metaphor for the consequences of excessive liquidity and monetary intervention. The Fate of Fiat Currency "Always keep in mind the true value of the US Dollar. It will revert to the ...

Originally published: 2 December 2011 Original author: Dr. Jim Willie ("The Golden Jackass") Navigation: Part 1 | Part 2 | Part 3 | Part 4 Editor's Note This Archive Edition preserves the original article while improving readability through editorial headings, paragraph spacing and navigation. The author's views and arguments have been preserved. Unintended Consequences Focus on suppressed long-term interest rates and their consequences. They are broad and horrendous. The US captains of the derelict vessel travelling in icy waters filled with icebergs boast that the US economy benefits from ultra-low interest rates. They believe Americans are better off than Europeans who are experiencing rising borrowing costs during a debt crisis. The author argues that suppressing the 10-year bond yield has severe consequences, some of which may be unintended. "Can there be any more drastic attempt at a free lunch than suppressing the market inte...

Hat Trick Letter (Archive Edition) – Part 2: The New Normal of Global QE Originally published: 2 December 2011 Original author: Dr. Jim Willie ("The Golden Jackass") Navigation: Part 1 | Part 2 | Part 3 | Part 4 Editor's Note This Archive Edition preserves the original article while improving readability through editorial headings, paragraph spacing and navigation. The author's views and arguments have been preserved. The New Normal of Global QE "THE ONLY THING THAT CHANGED SINCE JUNE 2011 WAS THE USFED DOES NOT TALK ABOUT THEIR VAST MONEY PRINTING AND DEBT MONETIZATION. THE MASSES WEAR ROSE COLORED GLASSES." The big Euro banks are selling boatloads of bonds. But on the other side of the table, the Euro Central Bank is buying only truckloads. The net is still an exodus, thus rising bond yields. Wondering why sovereign bond yields in Spain, Italy, and even France are still rising if the EuroCB has entered the arena with both hand...

Originally published: 2 December 2011 Original author: Dr. Jim Willie ("The Golden Jackass") Navigation: | Part 1 | Part 2 | Part 3 | Part 4 Editor's Note This Archive Edition preserves the original article while improving readability through editorial headings, paragraph spacing and navigation. The author's views and arguments have been preserved. The Illusion that Quantitative Easing Ended The US Federal Reserve has fooled a lot of people into believing that the grand monetary pump and debt monetization project has been put on hold. The only thing that changed was their talking publicly about it. The money press has been working to the limit, never stopped. The discussion has been kept quiet, but the machinery still operates with vigor. The proof is not statements by central bankers, but the data from the monetary aggregate. The data is compelling. The conclusion to reach is that Quantitative Easing has become the norm, the foundation pol...