The Great Devaluation

20White Men Can't Jump

Canaries are sent into coal mines as a warning signal. The little yellow birds are more sensitive to carbon monoxide and other poisonous gases than humans. Around the year 1911, coal miners began carrying canaries into the coal mines. They quickly became a metaphor for warning signs. When the canary keels over, it's time to get out, lest you be the next to keel over.

Figurative yellow birds are dying everywhere. Negative rates? Stocks surge on massive declines in corporate earnings? Thirty million people file for unemployment and stocks surge into a bull market? Oil drops to negative $40? The Fed buys junk bonds? These are just a handful of the dozens of canaries in the coal mine that have been left for dead. We continue to look the other way so long as the Fed is buying. What are dozens of dead canaries relative to a Federal Reserve bazooka anyway? What is the canary in the coal mine telling us? The system is full of deadly gases that can kill us at any moment.

But who's paying attention anymore? Do we even have the aptitude to recognize impending disaster? We've become so programmed to watching and following the Fed that we've lost sight of all the warning signs literally dying around us. The economic engine is completely busted. The mine is about to blow. The only question is, what will that explosion look like?

The explosion in debt will have an impact on everything. Printing more money is the only solution. Now that we understand what's coming, we ...