As expected here at SD, the latest Fed minutes are pure propaganda claiming the Fed may end QE soon as the economy is recovering more quickly than expected. This is as even Walmart’s sales are crashing.
Cue the anticipated smash in gold and silver.
and….Gold & silver dropping vertically as expected. Unbelievable.
Full Fed Minutes release is below: [Read more...]
The biggest critic of the Fed this side of Ron Paul was on CNBC today discussing global Central Bank currency devaluation.
Grant states that Western Central bankers are attempting to out print the Bernank himself:
Central Banks the world over are going from ease to hyper-ease, and people we thought were extremely radical in their monetary predilections like Bernanke are about to be out-flanked by others still more radical! So the monetary revolution is devouring it’s children!
Grant states that the Fed is at war on the price mechanism: The Fed will not acknowledge that it is suppressing prices, that what it is doing is a species of price controls. Interest rates are prices, and the Fed is manipulating them at the level, & they’re manipulating them on the yield curve!
Regarding the future of QE, Grant states that: The Fed’s hand will be forced by circumstances. The Fed seems to think that it is in control of events, when in fact events will be in control of the Fed.
Jim Grant’s full MUST WATCH interview is below: [Read more...]
Source: Banzai7
The next time you hear propaganda from Fed officials or the financial MSM that the Fed will end QE by the end of 2013, please recall this startling statistic: thus far in 2013, the Fed has increased its Treasury bond holdings by $51.1 billion, while the official US debt has increased by only $47.2 billion over the same period.
This confirms with startling clarity that the Federal Reserve is the ONLY remaining purchaser of US debt in size, and that the Fed must not only take up all of the newly issued US debt, but it must also absorb the maturing treasury bonds coming due.
QE is going to INFINITY…AND BEYOND… and will continue until one of three events occur:
1. Gold revaluation (the final deflation-fighting tool in Bernanke’s toolbox)
2. Dollar devaluation (essentially #1 just announced in dollar terms) such as Venezuela announced Friday
3. Hyperinflation of the dollar & complete systemic collapse.
Got PHYZZ?? [Read more...]
Only in America can one submit false tax returns, hold meetings at the NY Fed with the agenda of manipulating LIBOR rates, and leak FOMC interest rate policy announcements prior to their release to your bankster buddies, be caught in all 3 above crimes, and be made a distinguished fellow of the Council on Foreign Relations rather than a resident of a NY penitentiary.
Perhaps the CFR should consider looking up the dictionary definition of distinguished:
1. Successful, authoritative, and commanding great respect.
2. Dignified in conduct or appearance.
Exactly what comes to mind when one thinks of Mr. Turbo-Tax Geithner. [Read more...]
The lovely Lauren Lyster, formerly of Capital Account and now the new host of Yahoo’s Daily Ticker, interviewed SD’s favorite Fed-basher Jim Grant regarding the Fed’s latest FOMC statement.
Grant stated that if creating credit was able to successfully reactivate business activity the world would have been richer many generations ago, that the Fed’s actions are counter-productive, that QE funds injected into the economy is money in search of mischief, and that Bernanke’s manipulation of interest rates will fail spectacular with major fireworks as the price of interest rates find their own free market valuation.
As always, Jim Grant’s interview is a MUST WATCH!! [Read more...]
WHOLESALE Gold Bullion prices climbed back above $1660 an ounce Tuesday morning, broadly in line with where they ended last week, as stocks and commodities fell slightly and the Dollar ticked higher against the Euro ahead of tomorrow’s interest rate decision from the US Federal Reserve.
“We are seeing a technical rebound following a few days of price decline,” one trader in Shanghai told newswire Reuters this morning. “In the short run, gold is still going to drift without much conviction, though over the longer term it is still facing very heavy pressure on the upside.“ Like gold, silver regained some ground this morning after losses in recent days, climbing back above $31 an ounce.
In the US, the Federal Open Market Committee begins its two-day meeting today ahead of the Fed’s latest policy decision tomorrow. “This week’s FOMC meeting and US non-farm payrolls [on Friday] will be key in setting gold’s price trajectory,” says a note from Barclays Capital. [Read more...]
While in reality the Fed is the market for US debt via QE∞, there is at least a thin line between the Fed’s indirect monetization of the US debt/deficit, the Bank of Japan has obliterated that thin line, announcing open ended direct monetization of JGB’s, beginning with 13 trillion in JGB monetization in January 2014.
Welcome to the start of full-blown currency wars.
Got PHYZZ?
Full announcement is below:
It’s official. The Bundesbank has just invoked pure holy terror among the bullion banking cartel. The Bundesbank will officially begin repatriating 1/2 of Germany’s gold reserves. The real question is why now? What has changed over the past 3 months? Is Germany preparing to leave the Euro and introduce a gold-backed Deutsche Mark?
By 2020, the Bundesbank intends to store half of Germany’s gold reserves in its own vaults in Germany. The other half will remain in storage at its partner central banks in New York and London. With this new storage plan, the Bundesbank is focusing on the two primary functions of the gold reserves: to build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold trading centres abroad within a short space of time. The withdrawal of the reserves from the storage location in Paris reflects the change in the framework conditions since the introduction of the euro. Given that France, like Germany, also has the euro as its national currency, the Bundesbank is no longer dependent on Paris as a financial centre in which to exchange gold for an international reserve currency should the need arise. As capacity has now become available in the Bundesbank’s own vaults in Germany, the gold stocks can now be relocated from Paris to Frankfurt.
While Bernanke spent his afternoon today outlining why the gold standard can never work (never mind the fact that it worked perfectly for 2 centuries in America), the Bundesbank has just shattered the remaining confidence in the fractional bullion banking system, announcing that it will repatriate a portion of its gold reserves from the NY Federal Reserve, and ALL 374 tons of its gold held at the Bank of France!
In the months that followed Hugo Chavez’ 110 ton gold repatriation request in the summer of 2011, gold exploded nearly $400 as the bullion banks panicked. As the Bundesbank’s official gold holdings held at the Fed and the Bank of France dwarf Venezuela’s 110 tons, don’t be surprised if the price of physical gold goes super-nova as Germany’s repatriation request plays out, as paper gold rehypothecated 100 times over must suddenly be conjured up in physical form. [Read more...]
The Federal Reserve Monday issued it’s owners (JP Morgan Chase) a two separate Cease and Desist orders. The first orders JPM to take corrective action regarding its prop-trade hedge fund known as the Chief Investment Office (CIO), and the second orders The Morgue to take corrective action regarding compliance with anti-money laundering requirements.
The Office of the Comptroller reportedly also issued two similar orders against JPM Monday.
We’re sure Jamie’s conversation with Ben went something like this, ‘You want us to do WHAT with our hedge fund? Oh, yeah, sure Benny, we’ll get right on that.‘
Full release below: [Read more...]
The Propagandist in Chief (aka Federal Reserve Chairman Ben Bernanke) is scheduled to give a lecture at the University of Michigan’s Gerald School of Public Policy at 4pm EST today on current economic issues and the recovery.
Have your buy orders ready, and prepare to Stack the Smack if the cartel MO of raiding the metals on Bernanke speeches/ FOMC releases continues.
Watch The Bernank’s speech live below at 4pm EST [Read more...]
Submitted by Deepcaster:
For several years, Notable Independent Commentators, including Deepcaster, have warned that the Elite Central Banks’ Orgy of Fiat Currency Printing, a la QE etc, would result in Price Inflation, so it is no surprise to us that The Bond King, Bill Gross of PIMCO, with about $2 Trillion under Management, would finally warn in his January 2013 letter to Investors of Impending Price Inflation in Key Commodities. Of course, General Price Inflation is already here, if one looks at the Real Numbers (e.g., U.S. CPI at 9.8% per shadowstats.com) as opposed to the Bogus Official Ones.
Going forward, this Mega Bank-generated Price Inflation provides considerable Profit Opportunities, but only in certain kinds of Commodities, and especially in one Sector Bill Gross does not specifically mention. In sum, Policies actually being Implemented by the Power-Banker Elite virtually ensure a continuation of Fiat-Currency Depreciating Policies, and thus Price Inflation in Certain Commodities Sectors, as well as Increasing Risk of Systemic Destabilizing à la 2008-2009.
[Read more...]
Jim Sinclair has sent subscribers another alert this afternoon regarding the delay in the implementation of the Basel III requirements, which were set to make gold a Tier I asset- making the metal equal with cash or treasury bonds for capital liquidity requirements.
Sinclair states that the entire reason that Basel III has been delayed is because the Western financial system simply does not have the ability in terms of real liquidity to meet the new requirements. Sinclair states that the Western financial system cannot meet the requirements now, they will not be able to in 2 years, and that his conclusion regarding Obama’s appointment of Citi derivative dealer to the position of Secretary of the Treasury is: Father forgive them because they (our esteemed leaders) really do not know what they have gone and done.
Sinclair’s full alert is below: [Read more...]
In his latest update, Greg Mannarino addresses the Fed’s minutes released last week, in which several Federal Reserve members supposedly stated QE will end by the end of 2013. Mannarino states that the Fed ending QE at the end of the year is impossible, and that the Federal Reserve has absolutely no intention of stopping or even slowing quantitative easing.
As we stated upon the release of the Fed minutes, Mannarino states that the Fed’s threat to stop QE is pure propaganda designed to stall the rally in gold and silver that was getting underway last week.
He states that if the Federal Reserve were to stop printing money, everything would end, and the collapse would be so incredible that people would literally eat each other in the street!
Mannarino’s full update below: [Read more...]
Submitted by Deepcaster:
The five year chart of the CRB Index (a Broad Measure of Commodities Prices) shows three descending tops, which is suggestive of Deflation. But to conclude that Deflation is likely to be The Ruling Force in the Economy in 2013 would be a Dangerous Error.
Indeed, it is critically important for Investors to understand whether or not we are in an Inflation or Deflation, or both (we later explain how this is possible). Failure to understand The Reality about Deflation and Inflation is likely lead to poor or even lethal Investment decisions.
Here we explain The Inflation/Deflation Reality and indicate how to Profit.
In 2013, we will continue to see inflation in terms of the US dollar currency, and deflation in terms of gold.
[Read more...]
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