If an institution gains monopoly power to create currency and credit “at no cost,” the unspoken yet inevitable cost of such power will be the destruction of said currency. The Fed made a deal with the devil many decades ago, and the devil will have his due. Powell will ultimately call off his half-hearted fight against inflation in an emergency attempt to reflate a dying economy … and the devil will have his due.
At least someone else agrees, and it’s a recognizable person of merit: David Einhorn.
I’m in total agreement with regard to the FED is bluffing.
The dollar is appreciating. There will be a tipping point as rates rise and the dollar continues to appreciate commodities will fall badly.