Renowned commodity trader Yra Harris says forget about talk of the Federal Reserve “tapering” money printing. The real problem is the $3 trillion of junk the Fed has already bought. Harris says, “So you are going to allow $3 trillion in cash the Fed created to sit out there in the economy? That would be phenomenally inflationary.” Harris thinks the Fed might make the banks hold much of that money to “slow the velocity.” Harris thinks the Fed has just “bought time” and goes on to say, “Has Congress really gotten their act together? . . . They sit back and say the stock market is going up. I don’t have a problem. That’s a false positive if I’ve ever seen one.” Harris contends, “This doesn’t end pretty. They have to recreate the bubble that got you here in the first place. At some point, the market is going to exact its price.” That “price,” according to Harris, is going to come in the form of “capital controls and rising interest rates.” Join Greg Hunter as he goes One-on-One with legendary trader Yra Harris.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.