John Ing – “We Are Nowhere Near The Chaos That I Expect”

(Before It's News)

from KingWorldNews:

Ing: “What we have been seeing in the past couple of weeks is that no one ever promised that the ‘exit’ would be pain-free. Now we have seen this not only in emerging markets, but also in Western markets….

“As far as emerging markets, what we are seeing are devaluations, and of course interest rates moving up in those countries. In Ghana, for example, the interest rate went up 2%. Some might respond, ‘So what?’ Well, their interest rate is now a staggering 18%.

So, while it’s terrible to be lending money in Ghana, the Fed tapering is really creating these consequences. And this is only just the beginning, Eric. Also, the volatility in the currencies right now is quite dramatic.

/John Ing continues @ KingWorldNews.com

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