The Fed Is Running On The Final Fumes Of Its Credibility

Monday, December 22, 2014
By Paul Martin

by James H Kunstler
ZeroHedge.com
12/22/2014

This Federal Reserve is running on the final fumes of its credibility. Counsel “patience” as it might, other institutions and the people running them may run out of patience with it and start running for cover. When currencies catch fire, even a run on the bank becomes an exercise in futility. The rot is spreading from the margins to the center. Not even very far in the background, there is wreckage everywhere as events spin out of the pretense of control. What an opportunity for another country, say a country with an already foundering currency, to dare introduce money partially backed by gold.

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