Wave Of Fear Now Spreading As The West Confronts A Nightmare
KingWorldNews.com
March 11, 2015
With the U.S. dollar surging, while gold, silver and crude oil struggle, below is a key piece which highlights an incredibly dangerous development that the Western world is finally beginning to realize it will have to confront, and also warns a wave of fear is spreading as the West prepares to deal with this nightmare.
By Art Cashin Director of Floor Operations at UBS
March 11 (King World News) – For weeks, I and many others cast doubt on the efficacy of any QE from the ECB. The problem as we saw it would be the mechanics. The ECB did not have the kind of huge, singular bond market available to it as did the Fed and the BOJ.
Despite my reservations, the ECB has moved ahead with QE, and, after only a few days, some of the flaws are beginning to show up.
If it follows up on its announced purchases, it will be buying more than half of the issuance of the bonds it targeted. Further, it appears that its very operation could move some yields to a level that might remove a particular bond as a potential target.
The Rest…HERE
