If the carnage in the bond market continues next week, we could finally be at that moment where the system reacts chaotically and violently. It is sad, but it is the predictable end to the financial path that was chosen in the mid-1960s.
For those who are dispirited by the action in the energy and precious metals markets, a true panic out of financial assets into so-called real assets will cause those markets to skyrocket when denominated in fiat currency. Today was a warning that this moment might finally be at hand.
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