Right. The constant printing of fiat paper by the federal reserve has been causing inflation since 1933. Most of the nature of the 'up' since 2008 has been QE and POMO. Instantaneous money buying debt devaluing the dollar and propping up the stock market. Only when it comes to Greece we're talking about a potential unstructured unsustained default that SHOULD drag down a few large dominoes. I'm not anticipating a major event like this until the fourth quarter of this year. What I think we're having now is a spike in volatility as a result of the looming potential for default, and this spike should cause an uncertain and bearish trading environment for 2-3 weeks.
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