The One-Year Anniversary of "Do Whatever it Takes" - Doug Noland

`` I fully expect history to look back at the past year's Draghi Plan, Fed open-ended QE, and Bank of Japan "Hail Mary" monetary inflation as misguided market interventions that set loose historic market Bubble excess. I will posit that global systemic risk is significantly higher today than it was a year ago. And if the current trajectory of global central bank market intervention continues, systemic risk will be even more problematic one year from now. ''