Twelve steps to financial disaster

Economist Nouriel Roubini recently detailed the inevitable consequences of the mad credit expansion. And the US central bank's latest hints of further monetary easing makes his list even more frightening.

I couldn't miss the headline on the front page of the Financial Times on Thursday 28th February: "Dollar hits low as Fed Chief hints at rate cut".

Bernanke's willingness to abandon the dollar is on the one hand very good for gold investments, for which we thank him, but on the other it also says something quite scary about the view he must have from the inside of what's going on in the US economy.

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