Posted Feb 2, 2015 by Martin Armstrong
The greatest danger we face is that far too often I am the only one saying something. Surely I cannot be the only person who comprehends the real trends. The danger we face is that those with experience on trading desks of fixed income and FX, see what I see, but cannot speak out. When you work for an institution, you cannot speak for whatever you say will be attributed to your employer.
This is the same problem with the mainstream media. There are good journalists who would like to write the truth but the editors upstairs grab the piece and shut it down or remove the truth. This is a common practice because the press is a big corporation that must knuckle down to whatever government demands.
In the end, muzzling those who would help to save the day is sealing our fate. I get a lot of emails from people in the business. They often take the theme that was great – I wish I could say that.
The bulk of people claiming to be analysts have no experience. They have never worked in the industry and never peeked behind the curtain. In the early 1980s, tips were often coming from government – hey we are about to raise rates. Forming the Euro, we have those opposed leaking papers to us to get the truth out.
Hopefully, when the crash comes, for once, lets call in people with experience. Not the heads of banks. Call the traders on the front line. They get to see the capital flows live. Political correctness will cost us our future and hide the truth about what is unfolding.