After many years of credit binging and monetary mismanagement, the sorcerer's apprentices at the Fed are having to bail hard as the credit tsunami crashes.
Thanks to Sean Corrigan of Diapason Commodities Management for this chart.
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception