This past week former Fed official (in fact the man who directed the QE1 policy for the US Fed) did two new interviews with King World News. We always link to interviews that Mr. Huszar does because he is one of those rare inside sources (like Jim Rickards) who is willing to discuss the issues we cover here in public. Also, Mr. Huszar has a stellar resume and credentials as a financial system expert.
King World News does allow anyone to copy and paste quotes from their interviews, but does allow direct links to the interviews. So here are the links to the two recent interviews with Mr. Huszar with my brief summary of each just below the link.
In this interview Mr. Huszar talks about he thinks no real progress has been made in solving the fundamental problems that caused the 2008 global financial crisis. He also says he does not think the Fed can solve another crisis (something Jim Rickards also says) and is concerned about what will happen when the next crisis does arrive.
In this interview Mr. Huszar predicts eventual weakness in the US dollar and US Treasuries as a result of the Fed's QE programs even though it has not happened yet. He says the trouble could begin at any time, but might still be a few years away too. No one can know the timing, but he believes it will happen.
We will also be running an article soon about similar concerns from another highly respected banking insider (Nomi Prins) who is a former Goldman Sachs banker.
When we talk here about providing credible alternative views to the mainstream view, we are talking about people like Jim Rickards, Andrew Huszar, and Nomi Prins. People with extensive experience inside the system and also extensive connections. Most people like this are not willing to go on the record with comments so those that do are valuable sources of information that we link to here. This way readers can compare their views and predictions with the mainstream view over time which we think is useful approach to the complicated issues we try to follow here.
We should add that if someone misses a prediction or forecast, it does not make them a "bad person" in our view. We appreciate anyone who is willing to stick their neck out and make forecasts in an effort to help people make decisions for the future. But the fact is that some forecasts will be right and some will be wrong. No one will get every forecast right of course. And we believe most who make forecasts are very sincere in their belief in them.
But over time a pattern emerges if you take time to follow it which we are trying to do here for readers. Over time, if a source gets many forecasts correct, obviously you will tend to lend more credibility to their views and analysis.
Also, if you get a broad spectrum of respected analysts all issuing the same type of warnings, you should take that very seriously. We have provided that broad array in all the links on the right hand side of this blog if you take time to look at them. A broad spectrum including the IMF, the G20, the Bank of International Settlements (BIS), various Central Banks (the ECB, the USD Fed, etc), former Central Bankers (Greenspan and Volcker, etc), former international banking executives and insiders like those mentioned above are all linked here issuing warnings about the future stability of the existing monetary system and things to watch out for. It's all here if you take the time to look for it.
We should add that if someone misses a prediction or forecast, it does not make them a "bad person" in our view. We appreciate anyone who is willing to stick their neck out and make forecasts in an effort to help people make decisions for the future. But the fact is that some forecasts will be right and some will be wrong. No one will get every forecast right of course. And we believe most who make forecasts are very sincere in their belief in them.
But over time a pattern emerges if you take time to follow it which we are trying to do here for readers. Over time, if a source gets many forecasts correct, obviously you will tend to lend more credibility to their views and analysis.
Also, if you get a broad spectrum of respected analysts all issuing the same type of warnings, you should take that very seriously. We have provided that broad array in all the links on the right hand side of this blog if you take time to look at them. A broad spectrum including the IMF, the G20, the Bank of International Settlements (BIS), various Central Banks (the ECB, the USD Fed, etc), former Central Bankers (Greenspan and Volcker, etc), former international banking executives and insiders like those mentioned above are all linked here issuing warnings about the future stability of the existing monetary system and things to watch out for. It's all here if you take the time to look for it.
No comments:
Post a Comment