Intensifying Risks of Financial-Market and Systemic Instabilities

November U.S. Monetary Base Declined at an Extreme Annual Pace of 12% (-12%);
As Seen Similarly With Federal Reserve Policy Errors of 1936/1937 That
Helped Trigger the Second Down Leg of the Great Depression

Current FOMC Tightening Is Triggering an Unfolding New Recession

Sell-Off in Equities Likely Has Just Begun

Watch for Heavy Selling of the U.S. Dollar and Heavy Buying of Gold as
Portents of Extreme Political and Financial-Market Turmoil and Systemic Instability