Yellen says no new financial crises will occur, evah.

When I read schlock like this I am honestly torn between thinking that Yellen really is so caught up in the financial euphoria that she cannot see it coming OR that these kinds of statements are elitists warnings that the financial crises will soon be loosed.




On the one hand it really can be difficult to see the forest when you are down in the trees.  But Yellen is supposed to have an eagle's eye view of the global financial situation.  How can someone so credible like Jim Rickards go running around telling anyone who will listen that our fake money system is inherently unstable and that the next financial crisis will require a bail out of central banks
at the same time Yellen is sounding the All Clear?

Well, one of them will be wrong and it continues to be my view that fake money made up of faith based currency and fractional reserve banking (high leverage) is one panic away from complete collapse.  That's because a fake money system is a Ponzi scheme by nature and all Ponzis eventually go bust, no exceptions. 

Rickards' scientific blather about complex systems is all very interesting but a Ponzi scheme is based on the madness of herds and that is the territory of Elliott waves and of nothing else.  That's why he will be the first to tell you that he can know what is going to happen but without any real idea of when. 

When the collapse begins and things begin to seem crazy, just remember that you can gain uncanny insight by subscribing to my service.  Elliott waves make sense and provide the likely way foreward when everything else does not.