Audit the Fed Fails :(

The vote is in and Audit the Fed failed by 7 votes. Monetary Policy has run rampant and gold and silver price suppression can now go into overdrive. The only thing to stop them now, is physical supply. We currently have a yield on savings that is effectively 0%, and I guess Democrats are happy with that. Bill Gross said this destroys the social contract that allows one to save for retirement and earn a modest income on those savings without taking a lot of risk. The need for yield drives savers into increasingly riskier assets, like high yield bonds, and stocks, and real estate which drives up asset prices to crazy levels. The Fed is like a bazooka. There is always collateral damage and in my opinion, no one considers the collateral damage, but soon it will make itself highly evident to even those that are oblivious to its ramifications. The Dow down 364 points to 16,151 is Jacks for Starters. The Democrats are saying it is all about saving the little guy, yet the champions of financial misdeeds are lining their pockets. They decided to stand behind the status quo and vote down, Audit the Fed. Did you see Social Security was adjusted effective May 1st? Bail-ins are in the regulations. Who’s to say they won’t use it given derivatives gambled in the casino currently have primary claim status under bankruptcy law above pensions and people.

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