Ron Paul: 'We're in the biggest bond bubble in history, and it's going to burst' (via CNBCFuturesNow)
[are] in negative interest rates. It's never existed before. And, that's a bubble. So, we're in the biggest bond bubble in history, and it's going to burst."
Paul, a former presidential candidate and vocal libertarian known for his economic and stock market bubble warnings, contends the Federal Reserve's policies are powerless in this environment. He doesn't believe this week's Fed meeting will provide any kind of relief and cutting rates will not be the answer.
"You can't predict exactly where the creation of credit goes," said Paul. "We have a ton of inflation with all that QE [quantitative easing]. And, every time you lower interest rates below market levels and create new credit, that's a bubble.". With bonds yielding negative rates now in focus, he suggests the danger is ballooning to unseen levels."You don't know this precise time. But you know it can happen," he said.
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