“Wall Street has an old saying: ‘Don’t fight the Fed.’  That means if your investment strategy isn’t in synch with the central bank’s policies, you’re going to lose money. I have an update: ‘Don’t follow the Fed.’ That’s because the Federal Reserve, under Chairman Ben Bernanke, is about to torpedo the $39 trillion bond market.  My thesis is simple: The Fed has lost control of the bond market. The bubble has gotten so big because it was allowed to inflate for so long, a fiasco is a done deal no matter what the Fed says or does.”

http://www.moneyandmarkets.com/dont-follow-the-fed-will-be-the-smart-moneys-new-slogan-52069

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