What we are experiencing is not a repeat of the past. The ability or, rather, the audacity of the US government to manipulate the major financial markets is new. Can this new trend continue?
Governments and economists take their hats off to free markets. Yet, the markets are rigged, not free. How long can stocks stay up in a lackluster or declining economy? How long can bonds pay negative real interest rates when debt and money are rising. How long can bullion prices be manipulated down when the world’s demand for gold exceeds the annual production?