Michael B. Krause

Treasuries and the U.S. Dollar: Twin Bubbles

The direction of monetary velocity is key. If it never recovers, the path is to hyperinflation as we are unable to pay off our debts. It will undoubtedly at some point, as banks feel no more need to hoard. This is probably equal to the point where all downside on homes is properly matched with reserves provided by the fed.