So, just as pretty much everyone in the sound money community predicted, tapering
will end sooner rather than later when a panicked Fed announces some kind of
bigger and better shock-and-awe debt monetization plan. The European Central
Bank, which actually shrank its balance sheet in 2013, will reverse course
and start monetizing debt on a vast scale. As for Japan, who knows what they
can get away with, since their government debt is, as a percentage of GDP,
already twice that of the US.