Central banks in Europe are starting to openly discuss tapering of financial asset purchases. I think the Federal Reserve is going to start squeaking about its own taper sometime this summer. It wasn’t until December of that year, seven months from the initial telegraphing, that the Fed would indeed announce a tapering of asset purchases. The following month the Fed purchased just $65 billion worth of bonds, and then $55 billion the next month. And when we have Taper Tantrum 2.0 this summer or fall (it’s coming, I promise you), I want you remember this.