With the Dow near 18,200, crude oil still below $50 and gold on the move, today a legend in the business sent King World News a powerful piece warning about one of the greatest threats to the world that would violently impact every major market and individual around the globe.
From Art Cashin’s notes: “Stagnant Reserves – In his most recent “Thoughts From The Frontline”, my good friend, John Mauldin, touches on the anomaly that has frustrated the Fed in trying to get the economy kicking in. It is the velocity of money – or, more correctly, the non-velocity of money in today’s economy. Here’s a bit from John’s note:
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