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NICK BARISHEFF & JIM RICKARDS & JIM WILLIE: GOLD TO DOUBLE, FED WON’T STOP PRINTING, DOLLAR TO END IN HYPERINFLATION AND COMPLETE COLLAPSE. A GLOBAL GOLD WAR IS IMMINENT AND INEVITABLE

November 24th, 2012

from silverdoctors:

Asset manager Nick Barisheff says, “There’s never been a fiat currency in history that didn’t end in hyperinflation and complete collapse.” Barisheff thinks that Treasury Secretary Tim Geithner’s most recent call to have an “unlimited debt ceiling” for the U.S. was “just telling the truth.” That’s essentially what we have now with “open-ended” money printing by the Fed. Barisheff adds, “All it’s doing is postponing a problem . . . it makes it bigger and eventually it blows up.” Forget about remedies for the economy, it’s too late. Barisheff says, “We’ve passed the point of this getting fixed.” Barisheff thinks if the Fed’s gold holdings are ever audited, there will be a “gigantic short-covering rally . . . multiple bankruptcies . . . and a massive loss of confidence” in the dollar because much of the gold is gone or leased out. Barisheff thinks the gold price could be “easily double” right now. That’s because Barisheff believes, “What’s kept the price down is the artificial leased gold going onto the markets.” Join Greg Hunter as he goes One-on-One with Nick Barisheff, CEO of the $650 million Bullion Management Group.

 

The Fed Will Keep Printing Until the Dollar Gets Weaker: Jim Rickards

Yahoo Finance has released an interview with Jim Rickards discussing QE?.  Rickards states that the Fed will continue printing until the bottom falls out of the dollar, and at that point, the chickens will come home to roost, and US citizens can expect MASSIVE INFLATION OVERNIGHT.

Full interview below:

 

 

 

Fed’s New Indicator-Based Printing Policy Removes Limits



from Wealth Cycles:

We finally last week got the first official confirmation from the Federal Reserve (Fed) that its quantitative easing (currency printing) program will ramp up to a cumulative $80 billion to $85 billion per month early next year. That level of currency expansion is necessary if the Fed is to offset the $10 billion per month contraction in the total “money” supply, which has persisted despite the $40 billion currently printed monthly. In other words, the breathtaking rate at which the Fed is decreasing the purchasing power of your existing dollars will nearly double within a few short weeks.

As cited by Bloomberg:

“I anticipate that we will need to continue our purchases of mortgage-backed securities and longer-term Treasury securities past the end of this year and likely well into the second half of next year,” said Federal Reserve Bank of San Francisco President John Williams, who has a vote on the FOMC [Fed Open Market Committee] meeting to be held next on Dec. 11-12.

James Grant On Bernanke: “The Great Levitation!”

JIM WILLIE: CENTRAL BANK GOLD REHYPOTHECATION SCANDAL TO TAKE GOLD TO $5,000/OZ

from Jim Willie,  GoldenJackass.com:

-The battle is on for delivery and verification for official gold accounts
-Evidence grows that much of it is gone, and when demanded, replaced with urgency
-It is soon to transform into a global gold war
-The German Govt gold demand to the London and NY City bankers represents a big escalation in the gold war
-The central bank coordinated QE to Infinity has brought questions of gold account location and integrity
-The Allocated Gold Account scandal is a natural event to follow the LIBOR banker scandal
-QE3 will assure a gold rise past the $2000 mark, but the new scandal will take the gold price to $5000
-The powerful gold factors are aligned and in place, led by permanent ZIRP and unlimited QE

…

Gold Hitting $5000.00 less than 4 Years – Rob McEwen – CEO of U.S. Gold Corp.

from businessweek:




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November 24th, 2012 |