Karl Denninger is confident the Fed will not play this game. He's also pretty clear about the consequences if they do.
In some ways, Denninger is the eternal optimism. He sees the insanity about as clearly as anyone out there, but I think he still thinks someone, somewhere is going to wake up before the bus is driven off the cliff.
I'm not so sure.
If it's reckless, stupid, short-sighted and likely to end in catastrophe, if past is prologue, that's just the path these criminally moronic idiots are most likely to take.