美聯儲是在一個盒子

在某些時候，市場會找出盒子美聯儲並不會想抱著美元。 它會意識到，這是量化寬鬆無窮大，當美元真正開始面臨壓力，如果它失去10年，20％的兌一籃子貨幣的價值，也就是當美聯儲將不得不做出選擇。 一個非常艱難的選擇，是一直迴避了多年，這將是大幅增加，即使失業率正在上升，儘管它是將許多銀行強行進入故障，即使它可能迫使政府利率債務違約，即使它會帶來了一個非常嚴重的經濟衰退，美聯儲將不得不提高利率不管怎樣，開始銷售國債不買他們。或者，如果它不具有的完整性，或這樣做的勇氣，那麼它要打印更多的錢，而美元將會崩潰。 

The Fed Is In A Box

At some point the market is going to figure out the box the Fed is in and it will not want to hold the dollar. It will realize that it is QE infinity and when the dollar really starts to come under pressure, if it loses 10, 20 percent of its value against a basket of currencies, that is when the Fed is going to have to make a choice. A very difficult choice that is has been avoiding for years, which is going to be to dramatically increase interest rates even if the unemployment rate is rising, even though it is going to force many banks into failure, even though it might force the government to default on its debt, even though its going to bring out a very severe recession, the Fed is going to have to raise rates anyway and start selling Treasuries not buying them. Or if it does not have the integrity, or the courage to do that, then its going to print even more money and the dollar is going to crash.