A Foundation Of BAD Credit Is No Foundation At All!…”Derivatives are a $1 quadrillion ticking time bomb, soaked in gasoline and sprinkled with gunpowder.”
By Bill Holter
GoldSeek.com
Wednesday, 13 May 2015
That didn’t take long did it? I of course am speaking of the second overnight and global meltdown of the credit markets …in the last four business days! Before getting into this topic which I believe will soon be seen in retrospect and by historians far into the future as “THE” trigger event. The second piece I sent out yesterday “I bet you didn’t even notice it” was written over the weekend, I planned to send it out for Tuesday’s reading. After sending it to Jim Sinclair to see what he thought, he strongly urged me to get that piece out for Monday. Had I not followed his advice, yesterday’s piece would have been a day late, and old news by the time it went public. So, I am eating a bit of humble pie here, the first fruit has already fallen from the seed of our partnership!
Just as we saw last Wed. night/Thurs. wee hours, credit markets again melted down overnight. The following charts clearly illustrate this.
Bonds…
The Rest…HERE
