Today John Mauldin warned King World News that the U. S. Federal Reserve is creating enormous instability in the global financial system. Mauldin, who is President of Millennium Wave Securities, also cautioned that if things spin out of control, “the central bank doesn’t have any weapons.”
Mauldin: “I’ve been doing a lot of thinking about the future. I’m in the process of finishing up a book with the co-author of ‘End Game.’ We have a book coming out this fall called, ‘Code Red.’
We are writing about quantitative easing, currency wars, and the next 5 years. The upshot of it is that our current policies in both governments, and in central banking, are coming to a point that it’s (actually) increasing the instability of the system….
“As an example, Bernanke gave a hint that they might begin to reduce the amount of money they are injecting into the system and the stock market just threw up. So within a week there were like 6 or 7 Federal Reserve types that were out saying, ‘No, no, no. That’s not what we meant.’
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