Yeah it is actually, only the goldbugs and idiots like Marc Faber think the world's ending by 31/12. lol
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Yeah it is actually, only the goldbugs and idiots like Marc Faber think the world's ending by 31/12. lol
Thanks Skol -now I feel better about the US and world economy--looks like that tapering got rid of all those problems...just like that:)
QE to infinity and beyond!
Today's Fed speech does not signal a move to taper any more than this mere $10B - it is but a token gesture, designed to:
a) quell rising discontent over the lack of significant job numbers or any other economic benefits resulting from QE3's massive bond buying programme to date
b) make Bernanke look good as he exists, and
c) give Yellen and others in the Fed more room to keep printing money without having to signal an end date.
Did you notice how he shifted the goal posts re tagging QE3 to a target unemployment rate of 6.5%? Bernanke made clear that when it gets to 6.5% the Fed will then look at other labour market factors (labour force detachment, wages, etc) to get a clearer picture as to when (whether or not) to finish QE3. In other words, in his view the Fed is not obliged to end "asset purchases" = "bond buying" = money printing = feeding Banks free capital to do what they like with...just because unemployment reaches 6.5%. This should give cause for concern. Instead, more and more money flows into Equity markets (and out of Gold)...as people kid themselves that we are heading for prosperous times.
Wake up folks. Eight years of Fed meddling with the US economy has resulted in a huge increase in Money Supply (M2 and M3), wealthier banks but very few extra jobs and interest rates, inflation and wages that all STILL need to be kept artifically low. No wonder Greenspan and other thinkers are concerned. Where's the promised recovery?
We need to ask ourselves : "Just who really benefits?"
Answer: Mainly the banksters who have been pumping this free money into their Balance Sheets, and then, rather than making it easy for businesses and consumers to get credit, have told most customers that they don't qualify. These banksters are instead using all this 'stimulus' money for speculative investing to earn greater profits for their shareholders (as evidenced by most major banks' 2013 P&L accounts). It's nothing short of self-serving - one group of powerful banksters (the big boys in Goldman Sachs and others at the Fed) looking after themselves and their mates in high places to cream the economy and instruct Bernanke to keep spinning all the way to his retirement that things are improving and we are better off with their meddling, which he has again done this morning. It's B-S.
Yes, many have swallowed it believing what they want to believe but I'm not swallowing it...and neither is the smart money. Notice that in spite of tapering and the DOW being up almost 300 points today, Gold has not plummeted as many predicted. IMO it has found its bottom and since there will not be another taper for many, many months, that spectre is no longer hanging over our heads, haunting PM diggers and their stockholders. Consolidation - here we come.
Gold has bounced nicely off a 3rd higher low of 1,217USD to now trade at around 1,225USD. And why not? The bad news for Gold and Siver is all behind us.
BTW - don't believe all that hedging talk coming out of Barrick Gold - it's designed to pull your strings and manipulate the market. It's not a coincidence that NZ Super decided not to invest in that company due to 'ethical concerns'.
Enjoy the recovery, gold-diggers. I'm holding, and buying on dips through this month and next quarter.
BC
Jim Rickards tweet sums it up
The #Fed took away the punch bowl, but they replaced it with Tequila Jell-O shots in the form of "additional" forward guidance. #PartyOn
It's more like amphetimines they are feeding us. And yes, there are side effects, usually felt the morning after:
nervousness, restlessness, excitability, dizziness, headache, fear, anxiety, and tremor. All good for Gold's market demand.
http://www.rxlist.com/adderall-side-...rug-center.htm
Kathy lien says it will be reduced by 10b per FOMC meeting ( 8 per year, timetable here) http://www.federalreserve.gov/moneta...dars.htm#20363
And will be over by end of 2014
https://twitter.com/kathylienfx/stat...08507267149824
To be clear...there is no obligation on the Fed to taper any more than what they have announced today -- i.e. $10B off $85B/month. Yellen may or may not announce further tapering as a result of 2014's 6-weekly FOMC meetings. They meet to decide, amongst other things, the amount of QE3 bond buying. It's not dictated in advance.
Bernanke said "If incoming data broadly support the Fed outlook for Employment and Inflation we will likely reduce asset purchases in further measured steps at future meetings." That's a big IF - nothing committed. You, Kathy whats-her-name and other wishful thinkers are being played.
http://www.usatoday.com/story/money/...ember/4078769/
Yeah Moosie, I get worked up a bit when I see so many people being duped by fat Banksters and their cohorts. US Congress is reviewing the purpose, structure and mandate of the Fed next month. Let's see if smarter people than you and me see through the Fed's veneer and ulterior motive.
Meanwhile, the Banksters prosper at just about everyone else's expense.
How am I prospering at everyone else's expense, Skol - snap out of it.
I see that PoG is again lifting - it's now only $5 down from where it was 2 hours before the Fed announcement. Smart money sees increasing economic risk of a bubble regardless of Central Banksters claiming otherwise.
BC