The central bankers have created a hall of mirrors distorting all we see . . . In one year the top 127 oil and gas companies spent $110 billion MORE on capital expenditures than they received from operations. So, they acquired $106 billion in additional debt (a large percentage through the Junk Bond Market) and sold assets to make up the difference. This is not a sustainable business model, just like the same nonsense taking place in the broader stock markets as corporations buy back massive amounts of their stock to give the ILLUSION that everything is fine and BAU- Business As Usual will continue. AND all we have is fiscal imbalances (the true nature is hidden by accounting fraud) and central bank centralized command of financial valuations. And I’m not being dramatic. Central Banks have taken ownership of the sovereign bond markets. Treasury buying through false front nations which themselves have no reserves with which to purchase the US Treasury debt will likely only accelerate. This centralized command of sovereign bond markets (and its yield mechanisms from which all other assets are derived) has mispriced all asset classes. The central bankers have created a hall of mirrors distorting all we see and the benefits of these distortions are flowing to an ever smaller minority at a growing cost for the vast majority. Now the Fed says it will likely taper QE to zero by October and eventually thereafter begin to normalize its balance sheet selling Treasury’s and MBS’s…but to whom? The Fed will have far more to sell ($3+ trillion from its current $4.41 trillion balance sheet) than there are available foreign held dollars to buy??? srsroccoreport/must-read-a-fraud-by-any-other-name-is-still-a-fraud/must-read-a-fraud-by-any-other-name-is-still-a-fraud/
Posted on: Fri, 29 Aug 2014 17:24:46 +0000
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