This Is The Nightmare No One Is Talking About That Ignited This Week’s Panic In Global Markets
KingWorldNews.com
December 05, 2015
On the heels of a wild trading week that saw a plunge in bonds and the U.S. dollar, gold surge, and whipsaw trading in stocks, today one of the top economists in the world sent King World News an incredibly powerful piece warning about a nightmare that no one is talking about that ignited this week’s panic in global markets. Below is the fantastic piece from Michael Pento.
By Michael Pento of Pento Portfolio Strategies
December 5 – (King World News) – Unwinding Carry Trades and Global Chaos
The European Central Bank under the auspices of Mario Draghi has created a market-destabilizing condition known as the euro carry trade. Draghi recently telegraphed to the markets a more aggressive attack on the value of the currency heading into the ECB meeting held December 3. In fact, he went on record saying the ECB’s imperative is to “do what we must to create inflation as quickly as possible.”
Because Draghi promised to destroy the euro at an even quicker pace than it was already falling, financial institutions front-ran the ECB’s increased bid for bonds and equities, sending these prices soaring in the weeks prior to the meeting…
The Rest…HERE
