by Phoenix Capital Research
For weeks now I’ve been warning that absent the hint of additional liquidity at the June FOMC meeting, the markets would tank. And tank they have… almost to the minute that the Fed FOMC ended.
The number of problems facing the financial markets today is absolutely enormous. China has begun an interbank liquidity Crisis. Europe’s banking system continues to collapse. Heck even Trichet now admits that risk is on “red” for the Eurozone
The Middle East continues to go up in flames… literally. Greece is seeing full-scale riots (coming to a country near you in the next 12 months). Inflation is erupting in China. And on and on.
And at the head of all of this, the US Federal Reserve, run by Time’s “Man of the Year” Ben Bernanke, admitted openly they don’t have a CLUE why the economy is not picking up.
So when the next Crisis hits it will become clear the Fed CANNOT fix these issues (it never could but most people hoped regardless). And that’s when the real collapse will begin.
It’s coming.
http://www.zerohedge.com/article/bernanke-just-admitted-hes-lost-control-markets
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