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Thread: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

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    Iridium mamboni's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    http://kingworldnews.com/kingworldne...ring_Gold.html

    Global Economic Plunge, Money Creation & Soaring Gold

    Today Mish warned King World News that investors should prepare, “... for a big plunge in economic growth worldwide.” Mish also said that despite the plunge in the global economy, “I expect to see gold breakout to the upside and I think we are starting to see that right now. The same thing is true for silver.”



    But first, here is what Mish, who runs the Global Economic Analysis site, had to say regarding the plunge in economic activity: “We are seeing a decline in the global economy. China has slowed down dramatically, so any commodity exporters which export to China are slowing down as well. We’re already seeing this happen in countries like Australia. We are also starting to see the Australian housing market begin to crash."


    Mish continues:



    “We have seen a plunge in the price of steel, down over 50% from the peak, and one analyst is expecting a further 50% drop in the price of steel. We are seeing problems surface in Italy. Yesterday, reports of the slowdown hit Canada. There was a huge drop in Canadian exports across the entire board.



    The decline in exports hit all of the major categories, autos, energy, agriculture, forest products, machinery and equipment products. The overall drop was 3.4%, but there was an even bigger drop of 5% in exports to the US...




    “This is consistent with what we have been seeing in the labor markets. Eric, the US recently reported a plus 96,000 jobs, but if you dig deeper into the numbers, in the household survey there was a loss of 119,000 jobs. This was the second consecutive loss of over 119,000 jobs.



    Over 500,000 people dropped out of the labor force. These people gave up looking for jobs. We are also seeing tax receipts in California plunge. The US is already in recession. The US Fed surveys even suggest the US is back in recession.



    The amazing thing to me is the denial in the mainstream media about what is happening. I would also add that the stock market is not a leading indicator of anything other than sentiment. The same thing happened in 2007, the stock market peaked right as the recession started.



    The data in Europe is even worse. There are weak numbers coming out of Spain, Italy, and France. So who is Germany going to export to? They are exporting to the rest of Europe. The idea that Germany was going to escape what is happening to the rest of Europe was always ridiculous.



    We are now seeing the perfect trifecta of construction down, services down, and manufacturing down. We have negative reports across the board. It’s going to make unemployment even worse in Germany and the rest of Europe. This will just increase anti-euro sentiment.



    Europe’s problems are structural in nature, and this is why none of Mario Draghi’s fixes are not going to work. In Europe and the US they are acting like more monetary stimulus is going to fix these problems. How can it, Eric?”



    Mish had this to say regarding gold: “I think that gold is about ready to blast higher. Now, the Fed has managed to stoke the stock market as well as inflate the corporate bond market. These companies, which were primed to go bankrupt, keep borrowing more and more money just to stay afloat.



    But they are not doing any more hiring, and Bernanke is puzzled over this. Well, he’s puzzled over pushing on a string because people are still saddled with debt. Students are graduating with debt, but they are still unable to get jobs, so they are simply moving back home.



    But Bernanke has ignited a rally in gold from around $800, to over $1,700 now. And we’ve seen the same thing in silver. We’ve also seen this in energy and food. But other commodities such as steel have plunged. This will impact the economies of exporting nations such as Australia and Canada very badly.



    The bottom line is the monetary printing is out there and gold is going to be the big beneficiary, and possibly silver as well. The chart of gold is beautiful. We have seen a perfect consolidation wedge forming for about a little over a year now.



    I expect to see gold breakout to the upside and I think we are starting to see that right now. The same thing is true for silver. Where do people turn when global central banks across the board print. This big lift in gold recently has been because of what they are doing in the ECB.



    Gold had gotten a bit ahead of itself a year ago at $1,900, and tried to hold its own, dropping into the $1,500s, as Europe was engaged in austerity. But now that Mario Draghi has come out and essentially said we are going to offer unlimited printing, the gold market has responded by advancing.



    God only knows what we are going to see from China. I expect all of the central banks to push on the string once more, but I don’t expect to see any job creation as a result of that. Investors don’t realize that we are in a global recession, but they will shortly.



    When central bankers step their foot on the accelerator this time, what’s going to happen? They are going to force up the price of gold and food, and it’s going to be counterproductive. The stock market will go down, and, regardless of what they do, all of these factors line-up for a big plunge in economic growth worldwide.”
    Tricks and treachery are the practice of fools, that don't have brains enough to be honest. -Benjamin Franklin
    Sincerity makes the very least person to be of more value than the most talented hypocrite. -Charles Spurgeon

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  3. #52
    Great Value Carrots Libertarian_Guard's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!


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    Unobtanium gunDriller's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    Quote Originally Posted by Dogman View Post
    The timing is sort of strange, or maybe not, with the shit brewing over there in camel land.
    maybe they can sell camel turds (as hash) to balance the budget ?

    i saw this once at a rock concert in Central Park. guys standing around near the line to get in, selling what looked like oversized rabbit turds.

    heck, if the Fed can pretend their counterfeit is money, they can attempt to pass off camel turds as hash.


    interesting how they raided down to $1720 right before the announcement & pop to $1770.

    in 2009, when they announced QE1, gold rose about $80, from $880 to $960.

    but, in the next month, it lost about 2/3 of that 'pop.'

    then, in the next few years, it doubled.


    no sympathy here for the shorts that got crushed by this move.
    Retired Director Morris Waxler says the FDA did not do their job for 15 years - and is not now.

    HelpStopLASIK.com

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    Iridium mamboni's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    Hyperinflation is Virtually Assured – John Williams


    September 13, 2012, at 1:07 pm
    by Greg Hunter in the category USAWatchdog.com | http://www.jsmineset.com/wp-content/..._famfamfam.gif Print This Post | http://www.jsmineset.com/wp-content/..._famfamfam.png Email This Post

    Jim Sinclair’s Commentary

    There could not a more important presentation to review again today as QE is initiated. I assure you, to infinity now in USA and Euroland.
    I have taken a lot of heat on QE to infinity, but it was birthed today in the USA and a week ago in Euroland.


    By Greg Hunter’s USAWatchdog.com


    Dear CIGAs,


    The Federal Reserve is talking about “unlimited QE,” or money printing, to boost employment. Economist John Williams says, “That’s absolutely nonsense. The Fed is just propping up the banks.” Williams says, “You’re likely going to see a dollar sell-off . . . That should evolve into hyperinflation.” Williams, “Doesn’t see the current system holding together without hyperinflation beyond 2014.” He contends the real annual deficit is “$5 trillion per year” and says, “That’s beyond containment.”

    Williams predicts, “Hyperinflation is virtually assured because the Fed doesn’t have any options left.” Williams says people should get prepared because we are facing a “man-made disaster.” Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.
    Tricks and treachery are the practice of fools, that don't have brains enough to be honest. -Benjamin Franklin
    Sincerity makes the very least person to be of more value than the most talented hypocrite. -Charles Spurgeon

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    Iridium mamboni's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    Jim’s Mailbox

    September 13, 2012, at 1:03 pm

    by Jim Sinclair

    Jim,

    LET’S THE GAMES BEGIN!

    The Fed announced the beginning of QE3 with $40B in purchases of Mortgage Backed Securities PER MONTH without stating any end date or dollar amount. Here is the statement:

    http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm

    "the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month."

    "If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. "
    No limits. No end date. This is QE to INFINITY!

    Make no mistake… this is all on purpose. This is the END GAME and the blame for the global meltdown will be placed, rightfully, on the shoulders of the Federal Reserve.

    Basically, the Fed has chosen to FALL ON IT’S OWN SWORD!

    The Gold and Silver move upward has caught all the shorts off guard. The Bad Guys are in deep, deep trouble as they took their cues from the likes of Jeffrey Christian and Jon Nadler who were advising EVERYONE to short gold and silver.
    Now it gets exciting!

    PS – Ron Paul just happens to be speaking tomorrow night at the Liberty Political Action Conference. If you think that is a coincidence then I have some lovely swamp land to sell you in Florida!

    The world is about to change.

    May the Road you choose be the Right Road.

    Bix Weir
    www.RoadtoRoota.com
    Tricks and treachery are the practice of fools, that don't have brains enough to be honest. -Benjamin Franklin
    Sincerity makes the very least person to be of more value than the most talented hypocrite. -Charles Spurgeon

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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    PT2 The Fed and the Crisis

    www.youtube.com/watch?v=PtIYNECg2Sg
    A strange game. The only winning move is not to play. How about a nice game of chess?

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    Iridium Libertytree's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    Quote Originally Posted by mamboni View Post
    Jim’s Mailbox


    September 13, 2012, at 1:03 pm

    by Jim Sinclair

    Jim,

    LET’S THE GAMES BEGIN!

    The Fed announced the beginning of QE3 with $40B in purchases of Mortgage Backed Securities PER MONTH without stating any end date or dollar amount. Here is the statement:

    http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm

    "the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month."

    "If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. "
    No limits. No end date. This is QE to INFINITY!

    Make no mistake… this is all on purpose. This is the END GAME and the blame for the global meltdown will be placed, rightfully, on the shoulders of the Federal Reserve.

    Basically, the Fed has chosen to FALL ON IT’S OWN SWORD!

    The Gold and Silver move upward has caught all the shorts off guard. The Bad Guys are in deep, deep trouble as they took their cues from the likes of Jeffrey Christian and Jon Nadler who were advising EVERYONE to short gold and silver.
    Now it gets exciting!

    PS – Ron Paul just happens to be speaking tomorrow night at the Liberty Political Action Conference. If you think that is a coincidence then I have some lovely swamp land to sell you in Florida!


    The world is about to change.

    May the Road you choose be the Right Road.

    Bix Weir
    www.RoadtoRoota.com
    What's he inferring?
    "Truth is treason in the empire of lies"...Ron Paul
    "A government is a bunch of people, usually, notably ungoverned"...
    Shepherd Book, Firefly

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    Iridium mamboni's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    Quote Originally Posted by Libertytree View Post
    What's he inferring?
    He's inferring that Ron Paul is positioning himself for a possible presidential run as an Independent.
    Tricks and treachery are the practice of fools, that don't have brains enough to be honest. -Benjamin Franklin
    Sincerity makes the very least person to be of more value than the most talented hypocrite. -Charles Spurgeon

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    Frog Leg Whisperer chad's Avatar
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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    ron paul's whole campaign as of late seems to be based, play by play & word for word, on this:

    http://en.wikipedia.org/wiki/Waiting_for_Godot

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    Re: QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

    “Gold is money. Everything else is credit.” - - J.P. Morgan’s words to Congress in 1912


    http://articles.marketwatch.com/2012...gs-gold-buyers


    Long-time followers of ours on Seeking Alpha will know that we have been bearish on gold (GLD) ever since it hit $1900/ounce in August 2011. After today's shocking FOMC announcement, we are now long gold for the first time in a year.

    http://seekingalpha.com/article/8662...time-in-a-year


    The Federal Reserve essentially "crossed the Rubicon" today. No longer will quantitative easing be considered an "emergency measure". Rather, it will now be considered just another "tool" that the Fed uses in the normal course of business.

    Considering how vulnerable the U.S. dollar already is, announcing an "open-ended" round of quantitative easing is utter foolishness. According to the Fed, when you add the 40 billion dollars of new mortgage-backed security purchases per month to all of the other "easing" measures the Fed is continuing to do, the grand total is going to come to about 85 billion dollars a month.

    http://world.hawaiinewsdaily.com/201...-rain-money-2/

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