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Too Much Fiat Currency and Credit Has Broken the Pricing Mechanism

Posted on April 08, 2008

The consequences of the massive credit bubble that s now unwinding were inevitable. (Don t buy the Wall Street and policy maker excuse that nobody saw it coming. We were early among those saying this would blow up in the face of Wall Street and the Fed, and threaten the entire economy.)And so the consequences are continuing to unfold, the market is at a loss as to what the real prices of certain assets are in relationship to one another. Meanwhile, with all the money flooding into overpriced financial assets, it d appear that resource development was largely forgotten outside of pol...

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