Turk – Financial System Now Headed Into A Massive Hurricane
KingWorldNews.com
June 20, 2013
On the heels of two days of continuous Fed propaganda, today James Turk warned King World News that the financial system is now headed directly into the “eye of a hurricane.” Turk also spoke about what Western central planners face going forward and the accompanying market risks and dangers.
Turk: “We had the same reaction to yesterday’s FOMC statement, Eric, as we did after the meeting last month. Interest rates continue to inch upwards. I have been waiting to see whether this would be the result.
An ostensibly dovish statement from the Fed is nevertheless resulting in higher interest rates. In other words, since the announcement of QE1 in March 2009, dovish statements from the Fed were bullish for Treasury paper – meaning lower yields – because the Fed’s buying of paper was soaking up supply. However, we are now in a situation where the Fed is buying nearly all of the Treasury’s new debt issuance, but interest rates are rising….
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