[jpl]

Deciding to spend another 1.2 Trillion smackers yesterday on T-Bonds and mortgage backed securities was the biggest Hail Mary Pass I’ve ever witnessed.

Indeed, it's virtually the equivalent of taking your life savings and putting it on red. Clearly we've decided to ignore to ignore China's warnings from a few days ago, and have opened up the throttle and are going full steam ahead.

It will be fascinating to see what the consequences are. We're going to either reach safe harbor, or ram full speed into the iceberg.

[blam]

Collectively the American people seem to know where this will end...gun and ammo sales are soaring.

[zek157]

“Indeed, it's virtually the equivalent of taking your life savings and putting it on red.”

There is no chance of hitting red on this wheel of misfortune.

Treasury and the Fed trading paper (QE/Monitization/Printing Paper) has zero chance of being successful unless it is ended immediately. It is fascinating and frightening.