This is quite a technical analysis from Mike Maloney about the signals for a massive crash in the stock market.
Yesterday (April 11, 2016), the Federal Reserve Board (Fed) of Governors held what amounts to an emergency meeting, using what they call “expedited procedures”, to discuss interest rates and monetary policy. After that, Fed Chairwoman Janet Yellin held yet another irregular meeting with President Obama.
Both of these meetings were held behind closed doors and were largely ignored by the mainstream media. Being closed sessions, no one outside those meeting knows what was discussed but it’s certainly very unusual for the Fed to invoke “expedited procedures.”
As we now know, there will be no interest rate hike this month even though one had originally been planned and announced at the end of 2015. So what’s going on with the economy? Are things not as good as we’ve been led to believe?
Could Obama have been pleading with Yellin to keep the US economy afloat until after the election?
Maybe it’s time to think about moving some of your money into gold or other precious metals.