JIM WILLIE: ZIRP- THE DEATH KNELL
By Jim Willie, GoldenJackass.com
APRIL 4, 2013
The official 0% rate signals a death knell to the national financial foundation and economic vibrancy, the climax event slow in its pathogenesis following the departure from the Gold Standard in 1971. The official 0% FedFunds rate (call it 25 basis points, no matter) is a direct signal of terminal illness for the entire capitalist structures within both the United States and its Western partners who stupidly or helplessly follow its lead. They followed the US lead in the housing & mortgage bubble disaster with complete wreckage, yet they continue to follow the US monetary lead.
They claim to have no choice. They do indeed have a choice, to discard the USDollar and to sell out of the USTreasury Bond, to impose a Gold Standard.