Ahead of this afternoon’s June FOMC statement (and as we await the imminent gold & silver smash), as tradition here on SilverDoctors, in what might be one of the last opportunities before the Fed Chairman is shown the door, we bring back Punt The Bernank!
- MOPE reaches spiritual levels as Fed states is prepared to increase or reduce asset purchases (we have no idea what our plan is- that should instill confidence in the market!)
- ZIRP to remain as long as official unemployment remains above 6.5%
- Metals breaking out to the upsideFull FOMC statement is below: [Read more...]
Ahead of today’s FOMC statement (and in light of Eric Sprott’s 2nd installment of Do Western Central Bankers Have Any Gold Left?), we thought it a good time to recall a conversation between Alan Greenspan and others made at a December 1992 FOMC meeting in which key secrets were revealed regarding manipulation of the gold market by Western Central bankers.
As The Doc discussed with Eric Sprott in our recent interview, the US exported $4 billion in gold in December. Eric pointed out that $4 billion is 2.5 million ounces of gold exported in a single month, when the US produces 8.8 million ounces annually. Eric asked rhetorically where 2.5 million ounces of gold were coming from.
Courtesy Former Chairman Alan Greenspan and the minutes from a Dec 1992 FOMC meeting, we just may have the answer for Mr. Sprott… [Read more...]
QE∞ is now QE∞er, and QE4 is official as the Fed announces $45 billion in NEW unsterilized monthly treasury bond purchases, exactly as expected by the market.
- FED INCREASES QE WITH $45 BILLION IN NEW MONTHLY TREASURY PURCHASES
- FED TO CONTINUE MORTGAGE BONDS PURCHASES AT $40 BILLION PER MONTH
- OPERATION TWIST EXPANDED INTO UNSTERILIZED BOND MONETIZATION
- MONTHLY PURCHASES TO TOTAL $85 BILLION
- FED: RATES TO STAY EXCEPTIONALLY LOW WITH JOBLESS ABOVE 6.5%
- Gold and silver popping
Full FOMC statement below: and Click here to watch Bernanke’s Press Conference on QE4 LIVE at 2:15pm EST: [Read more...]