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Welcome to the "Wolf Creek Pass" School of Monetary Policy

I don’t know if you folks remember that hit ditty: a humorous tune about two truckers attempting to manhandle an out-of-control 1948 Peterbilt down the “other side” of Wolf Creek Pass – a death-taunting section of U.S. Highway 160 where the elevation drops a hefty 5,000 feet in a relatively short distance.

The song’s two characters – a truck driver named Earl and his brother, who’s his partner as well as the song’s narrator – are taking a flatbed load of chickens on a speedy trip down this winding, two-lane Colorado highway. After the narrator gives Earl the above-mentioned warning, the ancient semi’s brakes fail.

From there on down, the narrator tells us that the brothers’ trip “just wasn’t real pretty.” The truck careened around hairpins and switchbacks, and then raced at an uncontrolled 110 mph toward a tunnel with “clearance to the 12-foot line” – with chicken crates sadly “stacked to 13-9.”

The drivers and the runaway Peterbilt “went down and around and around and down ’til we run outta ground at the edge of town… and bashed into the side of the feed store – in downtown Pagosa Springs.”

Believe it or not, I started thinking about this funny old country tune the other night – right after I’d read a piece about QE3 and the U.S. Federal Reserve.

As zany as it first sounds, the parallels are striking.

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Keith Fitz-Gerald- Money Morning - Only the News You Can Profit From.

Keith is the Chief Investment Strategist for Money Map Press. A seasoned market analyst and professional trader with more than 30 years of global experience, Keith is one of very few experts to correctly see both the dot.bomb crisis and the ongoing financial crisis coming ahead of time - and one of even fewer to help millions of investors around the world successfully navigate them both. Forbes.com recently hailed him as a "Market Visionary."

He is a regular on FOX Business, CNBC, and CNBC Asia, and his observations have been featured in Bloomberg, The Wall Street Journal, WIRED, Forbes, and MarketWatch.

Keith has been leading The Money Map Report since 2008, our flagship newsletter with 80,000+ members. He's also the editor of two trading services, The Geiger Index and Strike Force. In his new weekly Total Wealth, Keith has taken everything he's learned over a notable career and distilled it down to just three steps for individual investors. Sign up is free at totalwealthresearch.com.

Keith holds a BS in management and finance from Skidmore College and an MS in international finance (with a focus on Japanese business science) from Chaminade University. He splits his time between the United States and Japan, and regularly travels the world in search of investment opportunities others don't yet see or understand.