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Mar
25
Bernanke Wants to Keep Rates Low, but Treasuries Aren’t Complying
Ben Bernanke continued his defense of record-low interest rates, saying the economy is still too fragile to risk increasing yields anytime soon. In response, the short long-term Treasury ETF — TBT–is up almost 5% in two days as the long-end of the yield curve continues to move higher.
Bernanke and the Fed are out of ammunition. The destruction of the dollar is imminent. U.S. consumers can no longer borrow their way to prosperity. Unemployment continues to hover at highs not seen in a generation. The world’s central banks continue to try to print their way out of this crisis. And now Obama and his socialist entourage have foisted on America yet another behemoth program doomed to insolvency.
Go ahead, Ben. Try to keep the yield curve down. The world is watching, and it knows the United States can never hope to pay back its debts. You are left holding the bag, and you deserve it.
Paco Ahlgren
www.BottomViolation.com
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Disclosures: Paco is long TBT, UCO, and gold. He also holds U.S. dollars by necessity, pending the advent of private gold-backed currencies.
You can buy his novel Discipline wherever books are sold.
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