Gold & Silver Extend Gains on Asian Open to $35 & $1775!

Gold and silver both extended today’s massive gains on Friday’s Asian open, with silver tapping $35, and gold to $1775.

We expect silver to break through $35 on it’s 3rd attempt, after which it should quickly run to $35.75-$36.  Look for a potential pull-back to occur near $37-$37.50, potentially taking silver back to $35 before the major up-move begins.

There is simply no major downside risk for gold and silver at the present with QE∞ now official Fed policy.

Let that sink in for a moment.
As we mentioned this afternoon, new ALL-TIME NOMINAL HIGH’S ARE LOCKED AND LOADED!! It is simply a matter of time.
Those who have been waiting on the sidelines for one final pull-back into the $1600′s for gold and $20′s for silver will either enter this market immediately, or else chase the runaway train as it leaves the station.

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Ron Paul: Bernanke Has Lost Control, People ‘Should Panic Over Fed’s Decision!’

Congressman Ron Paul responded to today’s QE∞ announcement by The Fed in this MUST WATCH Bloomberg interview.

Regarding QE Paul stated,

‘It should not surprise anybody, but it is still astounding. To me, it is so astounding that it does not collapse the markets.
Bernanke said, ‘We are in very big trouble. We are going to do something unprecedented and we believe it will not hurt the dollar.’  And yet the stocks, they say ‘we love this stuff.’ But the dollar didn’t do so well today and the real value of the dollar is measured against gold, and gold skyrocketed from its very low to its highest. It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that Bernanke has not achieved and it frustrates him, I can tell—is he gets no economic growth. He doesn’t do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time.’ [Read more...]

Jeff Christian Monday: No QE3 Coming, Gold & Silver to Crash As Rally Has Been Based on ‘Speculative Fluff’

We’re re-posting this Jeffrey Christian interview from Monday purely for the satisfaction of our readers.  The Doc can’t stop grinning right now just reading the headline!

There’s nothing quite as satisfying as watching a 3 day old interview in which CPM Group’s Jeffrey Christian predicted no QE and an imminent massive gold and silver crash on the day The Fed announced QE ∞, and gold and silver are set to challenge $1800 and $35 overnight. [Read more...]

CME: Gold Trading Halted Twice Thursday

The CME Group reports that gold trading was halted twice Thursday, once during the pre-FOMC statement flash-smash at 12:14, and once during the post FOMC statement vertical move at 12:31.

Expect to see more trading halts in gold and silver in the coming months as volatility will increase drastically in the new unlimited QE era ushered in by the Fed today.

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QE3/∞! Fed Announces OPEN ENDED MBS at $40 Billion /Month!!!

  • QE3 QE is HERE!
  • Fed to buy $40 billion/month in MBS!!
  • Fed will increase purchases over $40 billion/month if required
  • ZIRP extended to 2015
  • Silver with a last of $34.94, gold to $1773!!

QE2 was $900 billion…and it was announced nearly 2 years ago.  Roughly $450 billion/year if averaged by time until QE3 was announced.
Today’s announcement equals $480 billion/year, with the explicit statement that it will be INCREASED FROM THIS BASELINE AMOUNT AS NEEDED!!!  $480 billion a year is the NEW BASELINE QE!!
Plus ZIRP extended, plus Twist extended, plus every other acronym for money printing Bernanke could pull out of his a**!!

Folks, This IS the BIG ONE!!!  Gold and silver have responded accordingly.  New all-time nominal highs for BOTH metals are now locked and loaded.

For those who have not sufficiently backed up the truck we suggest you consider calling SD Bullion now at 614.300.1094, as this train is DEFINITIVELY LEAVING THE STATION!! [Read more...]

QE ∞ Explained

Did you hear about the Fed?   [Read more...]

Watch Bernanke’s Press Conference LIVE at 2:15pm EST

Watch Ben Bernanke’s Press Conference below LIVE AT SD at 2:15pm EST!! [Read more...]

Full Text of FOMC Statement


Just released FULL FOMC statement.

Commentary to follow once The Doc has scanned the summary: [Read more...]

Gold & Silver Climbing in NY After Consolidating Overnight- Bernanke Out of Options

No cartel raid materialized in gold and silver on the COMEX open this morning prior to today’s FOMC statement, but be prepared for the 10-10:30am EST span, as IF the Fed has plans to officially announce QE3 today, we can expect gold and silver to be pounded this morning, as occurred when QE2 was announced.

The Fed has backed itself into a corned with it’s own MOPE- anything other than official QE3 today or a specific plan detailing the amount of easing the Fed is willing to provide will result in a massive disappointment to the market.

SD contributor FW said it best last night in response to The QE Control Room open thread:

What we do know for certain is that the Fed needs to act as the buyer of last resort given insufficient market demand for Treasuries — and MBS too.  Furthermore, they have to act within months or everything croaks (with the transmission mechanism proving to be rapidly rising long-term interest rates should “real world” buying be required in the absence of QE, god forbid).  Therefore, at some point this year, they MUST launch a new pool of funds to buy the bonds, for certain, and probably MBS too.
With that as background, it really doesn’t make sense to bluff one more time.  This is it folksThe end game is now visible.  Uncle Ben knows he has to act now.  So, I think we’re going to see one of the following: [Read more...]

The QE Control Room

Time to place your bets.  QE will continue to infinity, and is in progress as we type.  There are no other viable solutions as there are NO REMAINING TREASURY BUYERS OF SIZE BESIDES THE FED!!

The questions is whether the puppet Bernanke has received directions from his bankster overlords (Dimon & God’s worker to name two) to PUBLICLY announce unlimited QE tomorrow as 99% of the market expects, or whether QE∞ will be announced on an upcoming Sunday night prior to the Asian market open.

Will he, or won’t he?  The Doc would like to know what YOU think and why. [Read more...]

Monetary “Floodgates” And Geopolitical Unrest To Support Precious Metals

In the last 30 days (since August 13th), platinum has risen by 18.9%, silver by 18.7%, palladium by 18.4% and gold by 7.6%. All remain well below their nominal record highs (see charts) and more importantly well below their inflation adjusted highs. All will most likely continue to rally especially if the Fed announces QE3 today as investors turn to precious metals to hedge substantial money printing by governments and the real risk of future inflation. “The Euro bailout measures and the opening of the monetary policy floodgates by the central banks are likely to result in higher inflation in the medium to long term,” says today’s Commerzbank commodities note. The strikes and violence in South Africa’s gold and platinum industries are supporting and may contribute to higher prices. Machete-wielding strikers forced Anglo American Platinum, the world’s No.1 platinum producer, to shut down some of its operations in South Africa, sending spot platinum to a five month high of $1,654.49. [Read more...]

Bernanke Getting Loosened Up Ahead of 12:30 FOMC Statement

The SD crew was able to dig up rare footage this morning of a young Ben Bernanke practicing his patented economic stimulus move.
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Silver Update: Silver Bounces Off Up-Trend Line

BrotherJohnF discusses silver’s technicals and today’s big cartel RAID in his latest Silver Update [Read more...]

Disctrict Judge Forrest Permanently Bans NDAA’s Military Detention Provision

In a huge defeat for the new fascist USAA empire, US District Judge Katherine Forrest today upheld her temporary injunction against the NDAA’s military indefinite detention provision, PERMANENTLY banning indefinite military detention against US citizens for voicing 1st amendment protected speech and journalism.

The plaintiffs- a group of writers, journalists, and activists had filed suit against Barack Obama and Congress stating that they held actual and viable fears that their journalistic activities could subject them to indefinite military detention under the NDAA.  Judge Forrest ruled permanently in favor of the plaintiffs, upholding the temporary injunction.

Der Führer to appeal Judge Forrest’s ruling (even though he promised the provision would never be used against US citizens) in 3…2….1….

Full ruling below:

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