Friday, February 14, 2014

Art Cashin (CNBC) Interview - FED running out of Options?

Art Cashin is about as mainstream as it gets as a regular contributor on CNBC. He has seen just about everything over the years as relates to the economy and monetary policy. Now and then he does interviews like this one with the alternative news site King World News.

Here are some key quotes from this interview, then my comments on how this relates to coming monetary system change.

"“We certainly are running in circles and that’s why I say I think they (the FED) are in a quandary.  Think of something that’s certainly unheard of in the last 50 years and that is the central bank saying they want inflation to get above 2%.  Telling the public that they want to depreciate the buying power of the currency that you are paid your wages in, and there is no political uproar about it.  It is absolutely stunning."

"That’s the fear of people like Richard Fisher of the Dallas Fed (coming inflation), who said, ‘We’ve got to get out of QE because this is like inflationary tinder lying about, and the wrong spark could get it going.’  So that’s why I say they are stuck.  They want to get things moving in a certain direction, but apparently they cannot make anything moveSo pushing on a string and looking powerless is where we see the Fed.”

"There were times where it looked like the wheels might come off the locomotive.  But these guys I am concerned about, Eric, are painting themselves into a corner.  And that corner has great, great negative possibilities to it."

"They are running out of options and that is not good for the American public."

My comments: Art Cashin has decades of real world market experience. When you see mainstream analysts like him making these kinds of comments, it should get your attention. This is why we believe major change is coming. The present system is entering its twilight stage and cannot resolve the debt problem now. Something new will replace it and that is what we will keep an eye out for here.

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