Via King World News,
Today the man who has become legendary for his predictions on QE, historic moves in currencies, warned King World News that we are now in the frightening endgame.
Fear And Propaganda
Egon von Greyerz:
Having previously exposed the greatest trick the market has pulled on Biotech investors in the past - What Is The PE Of The iShares Biotech ETF? It Depends On Whether You Read The Fine Print - it appears investors need another lesson in reality versus perception.
As Horizon Kinetics puts it so eloquently - It’s One Thing to Not Know, It’s Another to Be Told What Isn’t So
The euro's surge to an almost two-year high put a cap on the global market rally in Friday's quiet session, with most major exchanges consolidating after a second strong week of gains. The MSCI Asia-Pacific index declined for first time in ten days while the European Stoxx 600 index was fractionally in the green as were US equity futures ahead of earnings reports from General Electric, Honeywell, Schlumberger and others. Oil gained with Brent flirting with $50, zinc rallied along with most base metals.
Despite Bank of Japan and ECB talk, and thanks to a tanking VIX, the new normal of utter tranquility in markets continued...
Soft Data rolled over again today...
The relentless risk levitation continued overnight, as global shares extended their stretch of consecutive record highs on Thursday for a 10th day after a cautious BOJ lifted Asian stocks to a decade high with a dovish announcement that offered no surprises, while pushing back Kuroda's 2% inflation target to 2020, the 6th consecutive delay. With all eyes on the ECB in just over an hour, US equity futures are in the green, following solid gains around the globe. European stocks extended their biggest gain in a week while Asian equities maintained their rally.