• Janet Yellen begins her first FOMC Press Conference as Fed ChairwomanGiven the economic outlook, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent
  • Committee Expects Gradual Increase in Interest Rates
  • Gold and silver react

Full FOMC Statement is below:

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With Oil Plunging to $35, and Silver Hitting New 5-Year Lows at $13.68 Ahead of the FOMC, The Doc & Eric Dubin Break Down the Action, Discussing:

  • Silver Smashed to $13.68Are BIG New Lows Ahead?
  • Fed Set to Hike Interest Rates in the Face of Credit Markets Seizing Up
  • High Yield Bonds in MELTDOWN..It’s Likely Just Begun
  • Deflationary Snowball Gaining Momentum & Heading Downhill?
  • Supply Destruction Sowing the Seeds for Next Bull Market – Anglo American Slashes Production, Lays Off 85,000

The SD Weekly Metals & Markets With The Doc & Eric Dubin is Below:

hikeFED HIKES RATES!

  • the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent
  • The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction

    Full FOMC Statement is below:

endA few weeks ago the Fed held a closed-door, emergency meeting.
I’d like to take a moment today to go over what they likely dealt with, because it speaks volumes about what we are now facing on the world economic scene:


The Fed is nearing the End of the Monetary Road. 

None of this has been tried before and, to me, that just demonstrates the dangers. Once you get into a situation like the central banks did in ’08 with this panicking — everyone calls it the Hotel California — you can’t get out.

  • To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.
  • The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market

Full FOMC Statement below:

fed
  • Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market 
  • Even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run
    (Translation: ZIRP is here to stay)
  • Fed to maintain accommodative financial conditions
  • Somehow no rate hike is now algo bearish for PMs as Gold & silver instantly knocked lower on the release…

Full FOMC statement is below:

silver
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With gold & silver smashed yet again this week, The Doc & Eric Dubin break down the trading and bring focus back to the BIG PICTURE, discussing:

  • SDR Basket change this fall?  Eric explains why it’s likely and it’s consequences  
  • Cartel paints a head and shoulders pattern on silver’s 6-month chart with a target of $12-$13
  • Authorized Purchaser of US Silver Eagles bought out by French bank Soc Gen- metals desk to be SHUT DOWN

The SD Weekly Metals & Markets Wrap With The Doc & Eric Dubin is below:

HarveyOrgan

Gold and silver were basically treading water up until the 2:00 o’clock FOMC report was issued.  Actually gold and silver were whacked 10 minutes after the report. Gold/silver equity shares also took it on the chin today as well.
Today we follow developments whether Greece will play ball with the ECB boys or seek the help from Russia and China and default, leaving the west with a mess.

Let’s head immediately to see the major data points for today:

cartel raid
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In this week’s Metals & Markets, The Doc & Eric Dubin break down the ECB’s massive €60 billion a month QE announcement Thursday, and discuss whats next for the global markets and gold & silver in particular:

  • Gold & silver’s strong January continues with silver $4 off its lows and gold nearly $200 off its December lows
  • Cartel setting metals up for a Classic Gold & Silver raid on next week’s options expiry and January FOMC statement!
  • Why Fed will soon begin backpedaling on rate hikes, may announce QE4 by Q4!
  • Cartel raid likely won’t last- Why gold is likely to rise by 20% at a minimum in 2015- and COULD DOUBLE!

The SD Weekly Metals & Markets With The Doc & Eric Dubin is below: 

Janet Yellen begins her first FOMC Press Conference as Fed Chairwoman
  • *Update: During Press Conf, Yellen advises no rate hikes for “a couple” FOMC meetings, states “Almost all participants see 2015 rate hike
  • Fed to be “Patient” with interest rate hikes
  • After initial pop, gold & silver selling off on que as Yellen takes the podium…

If the past 6 post-FOMC Statement gold & silver smashes are any indication however, don’t be surprised to see the cartel attempt to smash silver towards a $14 handle and gold towards $1150 by Friday…

Full December FOMC Statement is below: 

gold crash

The FOMC meeting begins today, and Janet Yellen holds a press conference tomorrow afternoon.
The Fed has consistently failed to raise inflation to their comfort zone, and the global oil price crash will make their job even harder now.

If all the Fed says at the press conference is that “lower oil is good for consumers”, I’m concerned that institutional investors may lose confidence. The current global stock markets decline could morph into a horrific crash. 

HarveyOrgan1

Gold & silver were whacked by the cartel in the access market today as Janet Yellen and the Fed announced QE will end at the end of the month. 
Expect gold and silver to be under the weather for the remainder of the week.
Let’s head immediately to see the major data points for today:

  • Yellen lays out Federal Reserve’s plans to “normalize” monetary policy
  • Fed to officially DC QE at next meeting if economic outlook holds
  • “Normalization” will not necessarily occur immediately 
  • Fed will use an overnight repo facility as needed during normalization process
  • Fed may raise interest rates as early as 2015
  • Committee is prepared to adjust its approach if necessary (translation- we’re going to try to pull the punchbowl, but we’ll eventually bring back MOAR QE )
  • Gold & silver smash commences on que as gold sent down a mineshaft below support at $1230

Full FOMC statement is below: 

gold bull

The average gold bear already looks a bit like the wolf character from the fairy tale, “The Three Little Pigs”.
The wolf repeatedly blows hot bearish analysis air at the gold brick house, and the house just stands there, immovable.

I’ve predicted that Queen Bankster Janet” will begin raising rates by mid-year of 2015, and that’s bullish for gold.
Here’s why: 

gold bull
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Jay Taylor joins Eric Dubin & The Doc this week for a power-packed show discussing: 

  • Jay compares where the current gold & silver bull market is at, and advised investors that: In 1980 we had a massive stampede- a mania in gold.  We haven’t seen anything like that yet!
  • Endless happy days, a deflationary Greatest Depression, or a hyperinflationary collapsewhats coming for the US in the next 3 years? 
  • With gold crushed yet again on the Fed minutes’ release, Jay explains why the Fed’s con artistry is to keep people disinterested in gold with routine horrendous smackdowns 
  • Why Taylor believes the next leg up will be bigger than the 1970’s bull market, and will be the biggest percentage move in gold EVER!
  • Jay digs into Austrian economics discussing exactly how we’ve left the gold standard for a PhD standard, and explains why fiat money allows those who control the system to steal from those who create the wealth

The SD Weekly Metals & Markets With The Doc, Eric Dubin, & Jay Taylor is below: 

drift

Gold drifted lower this week, with the price undermined by lack of interest on low volume and a slightly more hawkish tone in the FOMC minutes released on Wednesday.
The chart below, of gold and open interest on Comex, shows how the price has declined while open interest has hardly budged from its historically low level.