Aggregate Bonds Manifest Bearish Engulfing
Wednesday, 14. May 2008, 06:32:06
The Aggregate Bond ETF, AGG, manifested a bearish engulfing candlestick today, documenting that we have arrived at the end of the age of fiat wealth, where both stocks and bonds are going into the abyss.
I adhere to the Liquidation Thesis that holds that debt of all types can not be repaid, and is not going to be repaid, and therefore government services and payments are going to be liquidated, that is done away with.
I like what Darryl Schoon wrote in FinancialSense.com article Triage In Financial Markets: "Global financial markets are in extreme triage following the credit contraction of August 2007. It is believed central bankers are trying to restore markets to help the economy. In truth, they are like life insurance companies fighting to keep a wealthy patient alive so the high premiums will continue to be paid and the large death payout will be postponed.
The daisy chain of debt constructed by bankers has now connected all of us, the solvent and insolvent alike. Personal solvency will provide but little protection when countries, relatives, neighbors, banks, and employers and employees become insolvent. Gold and silver will be among the few lifeboats and faith will be invaluable."
I adhere to the Liquidation Thesis that holds that debt of all types can not be repaid, and is not going to be repaid, and therefore government services and payments are going to be liquidated, that is done away with.
I like what Darryl Schoon wrote in FinancialSense.com article Triage In Financial Markets: "Global financial markets are in extreme triage following the credit contraction of August 2007. It is believed central bankers are trying to restore markets to help the economy. In truth, they are like life insurance companies fighting to keep a wealthy patient alive so the high premiums will continue to be paid and the large death payout will be postponed.
The daisy chain of debt constructed by bankers has now connected all of us, the solvent and insolvent alike. Personal solvency will provide but little protection when countries, relatives, neighbors, banks, and employers and employees become insolvent. Gold and silver will be among the few lifeboats and faith will be invaluable."
