Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / By former FX trader and current Bloomberg commentator Richard Breslow / 02/03/2016 12:07
The Evil One
An enduring curse of this financial crisis is the inability of markets to disengage from the clutches of the correlation of one. We see it ad seriatim, often day to day: everything is wonderful, all hail the central bank (Friday); the world is crashing, these empty suits are running us over the cliff (Tuesday).
Having gone on long enough, this phenomenon has turned traders into inveterate cynics who know the price of everything, and the value of nothing.
Markets function effectively only when relative value among assets has some measure of reality. Discounting future returns in a world of zero and negative interest rates is a Sisyphean task in the theater of the absurd. In today’s world, we reduce everything to buy or sell the lot.
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Thanks to BrotherJohnF