Mr. Miller has been making this case that the U.S. Federal Reserve is running a de-facto Ponzi Scheme to hide the ball on the massive real estate losses embedded in the U.S. Economy and to artificially pump up the Equity markets at any costs.
The Federal Reserve has "re-inflated Wall Street" and "bypassed Main Street" in the process. Real unemployment is 15%, the housing crisis is getting worse with real asset prices continuing to decline, and real earnings/wages are lower across the board. To boot, the toxic byproduct of the re-inflation of Wall Street is the real inflation of "food and commodity prices" due to cheap money and excessive speculation.
Mr. Miller continues to warn that investors should go overweight cash and not attempt to time when the "music stops", which will dwarf the 2008 market setbacks.
Please watch the attached video link: