“The Dow fell -353 points. Gold lost $87 an ounce. What does this tell us? It shouts a warning: Ben Bernanke is losing control. He desperately wants inflation. He’s getting deflation instead. He wants low interest rates; yet rates are rising. Bernanke is now getting the worst kind of deflation – sluggish price increases against a backdrop of rising interest rates. This is the exact opposite of what the Fed wants… and needs. Its strategy is to hold interest rates down while it pushes up consumer and asset prices. Instead, the debt gets heavier as yields rise. Backs ache. Legs buckle. Nerves crack.”

http://www.billbonnersdiary.com/articles/bonner-hell-breaks.html

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