Mish has one of the best track records calling which-way-rates-are-going over the past 10 years. While virtually all the rest were calling for higher rates (inflation) Mish stuck to his ‘include credit in money supply’ guns and correctly called for lower rates (deflation). Our feeling has been that the artificially low rates have expanded the Fed’s balance sheet to the point where an ‘exit strategy’ becomes impossible (despite Bernanke’s claim that he can exit in 15 minutes if he had to) and that bond chaos is baked into monetary cake: meaning a rate spike and currency collapse (hyperinflation). Mish’s post today points out that rates have moved up again recently – but is it another head fake? Personally, I believe that if this were real deflation we’d have seen less interest in Gold and Silver instead of record breaking interest. If this were not a rigged market we would never have heard of Libor, the ‘London Whale’ or any of the other myriad market rigging scams of Wall St. and the City. But we did, and it’s rigged. And the jig is about up; sooner rather than later in my view.