Rising Stock Market False Positive-Yra Harris
By Greg Hunter
15 MAY 2013
Renowned commodity trader Yra Harris says forget about talk of the Federal Reserve “tapering” money printing. The real problem is the $3 trillion of junk the Fed has already bought. Harris says, “So you are going to allow $3 trillion in cash the Fed created to sit out there in the economy? That would be phenomenally inflationary.” Harris thinks the Fed might make the banks hold much of that money to “slow the velocity.” Harris thinks the Fed has just “bought time” and goes on to say, “Has Congress really gotten their act together? . . . They sit back and say the stock market is going up. I don’t have a problem. That’s a false positive if I’ve ever seen one.” Harris contends, “This doesn’t end pretty. They have to recreate the bubble that got you here in the first place. At some point, the market is going to exact its price.” That “price,” according to Harris, is going to come in the form of “capital controls and rising interest rates.” Join Greg Hunter as he goes One-on-One with legendary trader Yra Harris.