The world’s banks are in defacto currency wars: printing money against national deflation and national nonlinear bad debt default. They must; the debt asset system is globally saturated with debt and assets; unemployed youth, and the entitled elderly with otherwise nonredeemable legislative promises – even for tax earmarked and paid entitlements. In theory, with Parker Bros’ money, the global system could be propped up with the central bankers and financial industry at the center of the hub, making profits with nearly complete indemnity for all overt and covert fraudulent activity. Borrow or lend money at 2-3 percent to speculate in the equity or food commodity markets? Eventually the poor use of the exchange medium and the damning imprudent aspects of debt creation will spawn sufficient artificial speculative malinvestments that will overcome the real economic system of real people trading their real labor for the asset-debt exchange mediums just to survive….
But this is bit in the future…. first, the countervailing hegemonic Superpower US Bond future’s blow-off.
In this time of 11 October 2007 equity euphoria, expect the unexpected….