[[[ Where we are - & GCR is at least 3 step process ]]]
1. Bond movement. Already happened, and Tony implied this by his last CC having seen billions in movement. Stage3 also confirmed.
2. IMF then to give authorization of Two step RV > private and at upper levels of banking and CB > then down to teller/street level > becoming public RV. Reason for the banks needing some time previously.
3. GCR can now take place.
It is my feeling we are at #1 and closing in on #2 beginning stages with visible RV soon to follow. It has been stipulated that public RV has to happen before the GCR but the time in between has been a guess at best. Could be immediately following.
Posted by John MacHaffie at 1:15 PM