Prechter has had some correct calls, but his timing has been terrible on many of them. I’ve been watching him since the mid 1990s.
This statement by Prechter in this interview leaves me wondering about how well he has accessed the Fed and what it is truely capable of doing.
“Right now, it doesn’t have that ability, and the Fed is somewhat of an independent bank. I don’t think it really wants to own the worst debt on the face of the earth to back its notes. It generally tries to buy things that it believes will hold value. That behavior hasn’t changed. But it might later.”
