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Doug Noland’s Credit Bubble Bulletin: The Big Test

Only the Fed’s balance sheet has the capacity to operate as “buyer of last resort” in the event of serious de-risking/deleveraging. But with today’s powerful inflationary biases in consumer and producer prices, wages, and energy, food and global commodities markets, another bout of monetary inflation risks general inflation spiraling completely out of control.

Animal Spirits Aligned

One would think that the securities representing ownership of corporations and the world of digital currencies would have virtually nothing to do with one another, but in this all-assets-aligned world of ours, that isn’t the case. Once again,…

Gas & Gold

This came through on my Twitter feed Wednesday: Well, here’s the continuous contract of gold as far back as I’ve got it……… And here is crude oil, which goes back decades, but not as far as gold……. I divided…